The Block
Bitcoin and ether dip after Friday’s rally amid reports of a second assassination attempt on Donald Trump.The Federal Reserve is now expected to cut rates by 50 bps this week, giving a boost to bitcoin, according to a Bitwise analyst.Former Celsius CEO Alex Mashinsky seeks testimony from six witnesses as he faces 115-year prison sentence.The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Quick Take Multicoin Capital led a $10 million Series A financing round in Permissionless Labs, with Solana Ventures and Solana co-founder Anatoly Yakovenko also participating. Permissionless Labs is a core contributor to Pipe Network, a permissionless content delivery network (CDN) on Solana.
Quick Take A new iteration of the popular mobile game Flappy Bird is launching on Telegram thanks, in part, to Notcoin’s creators. Flappy Bird’s original creator has nothing to do with the relaunch of the game, according to a report.
Quick Take Former CEO Alex Mashinsky did not mean to harm anyone, his lawyers said in a memorandum filed on Friday. Mashinsky’s lawyers asked the New York district court to allow for witnesses, ranging from the crypto lender’s chief financial officer to chief revenue offer, to testify in his criminal trial.
Quick Take DeFi protocol Delta Prime suffered a $6 million exploit after an administrator lost control of the private key. The team says the risk is contained and only affected its deployment on Arbitrum.
The U.S. Federal Reserve is widely expected to cut its benchmark rate this week, with interest rate traders predicting a 50 basis-point reduction at Wednesday’s Federal Open Market Committee (FOMC) meeting.If the Fed decides to cut rates by 50 basis points, the market for risk assets, including bitcoin, could react positively, according to an analyst.
Quick Take Residents of a Norwegian town have been trying to get rid of a nearby Bitcoin mining facility for years amid noise complaints — with its operations eventually halted last week. What the residents perhaps didn’t foresee, however, was their bills spiking 20% as the local power company seeks to recover lost revenue.
Bitcoin’s inability to break out past the $60,000 mark — coupled with gold reaching an all-time high — reflects a propensity for risk aversion in the market, according to Bitfinex analysts.The price of gold climbed to a fresh all-time high on Monday, as rising bets for a 50 basis-point Fed rate cut this week act as a tailwind on the safe-haven asset.
Quick Take Ledger is partnering self-custody wallet provider Exodus on a new crypto swap aggregator called XO Swap.
