🐶📰Weekend Update

BTC $65,752 (+0.4%) | ETH $2,673 (+1.1%) | SOL $157 (+0.5%)

Welcome to the Daily Bone Weekend Update where we recap the top stories from the week. Be sure to check out our daily newsletter to get all of your news hot off the press each and every weekday!

Headlines

• CZ was released from custody after serving his 4 month sentence

• Caroline Ellison received 2 year prison sentence and $11B in fines for her role in the FTX collapse

• Telegram will now share user details with authorities if they violate the rules of the app

• Crypto majors rallied 5% on the week as Bitcoin ($1.1B) and Ethereum ($24M) ETFs both posted weekly net inflows

Memecoin Madness

• Top memecoin majors rallied with SHIBA ($11.6B), PEPE ($4.6B), and WIF ($2.3B) all up over 35% on the week

• Solana memecoin MOODENG became the top Pump Fun coin by market cap and crossed $300M market cap on the back of Kucoin listing, Beeple Everyday, and CNN report

• Memecoin launchpad Moonshot broke their single day record for on-ramping via Moonpay

• Runes joined the memecoin madness with BILLION•DOLLAR•CAT (+160%), PUPS•WORLD•PEACE (+150%), and DECENTRALIZED (+75%) leading on the week

TradFi

• BNY Mellon bank received official approval from SEC to custody crypto assets

• Mango Dao and Blockworks settled cases with the SEC

• The SEC postponed a decision that would allow options trading of Blackrock crypto ETF funds

• SEC commissioner Hester Peirce admitted SEC fault in its handling of crypto asset enforcement

Odds and Ends

• Art Blocks announced their first physical-digital hybrid project with “Bokeh” by mpkoz

• PolyMarket is considering a token launch to raise $50M

• Hamster Kombat’s HMSTR token launched and is down 50% to a $400M market cap

• Robinhood joined Revolut in exploring stablecoin offerings