🧘‍♂️Recap: Crypto Week of June 06

Dear Meditators

It’s not that you want to miss the latest crypto news and insights. These things happen.

? Our weekly recaps have you covered. 

Every Saturday, we will highlight the main events of the week ✅ So you can review, reflect and factor them into next week’s trading and investing decisions.

FRIDAY

• BTC/USD. Our Monday BTC technical analysis had us expecting rangebound movement, but is that actually what happened? Click to find out. 
• ?‍⚖️You’ve Been Served. Do Kwon’s dispute of an SEC subpoena was rejected by the U.S. Court of Appeals for the Second Circuit yesterday. Click to find out why.
• ? Getting In On The Action. A Reddit user, with a now-deleted post, first warned of an Osmosis vulnerability. He discovered that if someone added funds to an Osmosis liquidity pool and removed it, the position would increase by 50%. Click to find out what everyone did next.

Full Article

THURSDAY

• ?️ Bringing The AAA Game. It’s been a while since play to earn has been in the spotlight. Should we be paying more attention to it, especially with the introduction of AAA games? Click to find out. 
• ? New York Takes Charge Of Regulation. Strict regulation and government-backed stablecoins have been a common theme over the last 12 months. Now the New York Department of Financial Services (DFS) has become the first financial regulator to issue guidance outlining compliance requirements for dollar-backed stablecoins in the US. Click to find out more.
• ?Ethereum’s Test Run. Ethereum was supposed to switch from a proof-of-work network to a proof-of-stake network. The upgrade has continued to be pushed back, but on Wednesday a test merger was completed. Let’s take a closer look.

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WEDNESDAY 

• ? Place You Bets. The majority of traders lose money in crypto. However, there are a select few who manage to consistently beat the market. Click to find out how that can be you.
• ? Send It. PayPal announced yesterday that they had begun rolling out a long-awaited feature for people that hold cryptocurrency in their accounts. What are they doing and why now? Click to find out.
• ? Wen Widespread Adoption? On Tuesday, US Senators released their long-awaited crypto bill. The short title for the proposal is the “Lummis-Gillibrand Responsible Financial Innovation Act”. Click to find out more.

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TUESDAY 

• ? How To Thrive In a Bear Market. Everyone keeps telling you to survive the bear market. We’ve decided to make a guide on how to thrive in the bear market. Click to find out more.
• ? Laundry Day. Reuters released a report yesterday claiming that Binance had allowed at least $2.35 billion of illicit funds to be laundered via their services over a five-year period. Click to find out how this happened.
• ? The Decline of Axie Infinity Axie Infinity was the poster child for last year’s blockchain gaming boom. However, it is looking gloomy for the once darling of the P2E world. Click to find out why.

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MONDAY 

•  ? Taking A Turn For The… After weeks of Bitcoin only going down, could there be a shift on the horizon? Click to find out.
• ? Gone Phishin’. There was no rest for the wicked this weekend, as Yuga Labs (creator of NFT series Bored Ape Yacht Club (BAYC) and OtherSide) saw another attack on its community. Click to find out how.
• ❄️ Coinbase Hiring Freeze Extended. The market has kept creeping down, some crypto exchanges are making difficult decisions. Coinbase is extending a hiring freeze indefinitely and even rescinding some job offers. Click to find out why.

Full Article

Not financial or tax advice. The content in this newsletter is for informational purposes only. Nothing in this email is intended to serve as financial advice. We are not financial advisors. Every investment and trading move involves risk. Do your own research when making a decision. See our important security disclaimers here. 

Disclosure. Some of the links we’ve included are affiliate, they give you rewards and discounts and earn us a commission. Additionally, the Market Meditator writers hold crypto assets. See our investment disclosures here.