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5 Things to Know in Crypto This Week 💡

EU elections and Fed spook investors — here’s what it means for crypto 🗳️

• Bitcoin and other cryptocurrencies are being affected by political uncertainty and market reactions to the European Parliament elections and French President Macron's snap national election.

• US inflation data and the upcoming Fed policy meeting on Wednesday will provide further insight into the potential for a rate cut.

• In the last 24 hours, 39,364 traders were liquidated, with $64.22 million in total liquidations. BTC continues to range between $69-$70k.

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  Source: CryptoNews.com

AI-Linked Crypto Tokens Underperform as Apple's Event Fails to Impress Traders 💻

• AI-linked cryptocurrencies, including Render, Fetch AI, SingularityNET, Bittensor, and Near Protocol, experienced a decline of 3%-6% following Apple's underwhelming AI plans announcement at its annual developers event.

• Apple unveiled Apple Intelligence, a suite of AI features for its products, and announced a partnership with OpenAI to integrate ChatGPT into its software.

• Despite the AI-related announcements, Apple shares closed the trading session down nearly 2%.

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Trump Promises to Become the ‘Crypto President’ 🏛️

• Donald Trump declares himself the "crypto president" at a fundraising event in San Francisco, emphasizing his support for the crypto industry and criticizing the Democratic Party's regulatory approach.

• Bitwise's CIO believes the US is moving towards regulatory clarity, potentially benefiting the $20 trillion financial advisory industry.

• Crypto exchange Coinbase donates $25 million to crypto-focused super PAC Fairshake ahead of the November US elections, bringing the total raised to $160 million.

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Tokenized Treasuries Soar Past $1.5 Billion Market Cap 💸

• Demand for Tokenized U.S. Treasuries is increasing, with Real-World Asset protocols growing by 35% since April

• Blackrock's $BUIDL and Franklin Templeton's $FOBXX have contributed to the total tokenized Treasuries market cap surpassing $1.5 billion

• RWA protocol, Ondo Finance's native token price has risen by 68% since March, showing strong performance since its token generation event in January. TVL has surged from $221M to $507 million

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How Robinhood’s $200m Bitstamp deal is a bet against the SEC’s crypto crackdown 🏹

• Robinhood's $200 million acquisition of Bitstamp - a globally recognized cryptocurrency exchange - is seen as a move to expand its crypto business to institutional investors.

• Cryptocurrency transactions have been a significant driver of Robinhood's financial performance, contributing to a massive first-quarter 2024 earnings beat. Transaction-based revenues related to cryptocurrencies surged 232% year over year to $126 million.

• By leveraging Bitstamp's extensive regulatory compliance, robust infrastructure and established client relationships, Robinhood is well-positioned to enhance its service offerings and maintain its growth trajectory.

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