🐶📰Weekend Update

BTC $60,849 (+0.7%) | ETH $2,631 (+0.3%) | SOL $154 (-0.8%)

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!

Market Roller Coaster

• Japan’s NIKKEI fell over 12% on Monday, its worst day since 1987 — In response, Bank of Japan stated it won’t raise rates during an unstable market

• While Axios reported Iran could retaliate and attack Israel as early as Monday, no retaliation has taken place thus far

• The Nasdaq fell 3% on Monday before rallying to finish even on the week

• Crypto’s total market cap fell 12% on Monday but finished the week up 6% to a $2.1T market cap

Legislation & Institutions

• Ripple’s legal battle ended as a Judge ordered $125M in civil penalties and ruled that XRP is not a security

• FTX was ordered to pay $12.7B to creditors as their CFTC case came to a close

• Franklin Templeton launched their blockchain based money market fund on Arbitrum

• Bitcoin ETFs saw $167M in net outflows while their Ethereum counterparts recorded their first week in the green with $104M in inflows

PoliFi

• Kamala Harris selected Minnesota Governor Tim Walz as her Vice Presidential running mate and flipped Donald Trump on PolyMarket

• Eric Trump and brother Don Jr. tweet about an upcoming crypto project

• “Restore the Republic” memecoin launched and was tied to the Trump family tweets before being denied by Don Jr.

Tokens

• CryptoPunk 8409 sold for 19.4 ETH ($46K), the first sale under 20 ETH since 2021

• Pump dot fun removed fees from coin creation and will reward devs when their coins complete the bonding curve

• Pacmoon burned 50% of $PAC and announced migration to Solana