The Block
JPMorgan has revised its bitcoin production cost estimate to $45,000 for now, noting ongoing hashrate shifts post-halving.Its previous estimate was $42,000, which still remains for the medium term, JPMorgan’s Nikolaos Panigirtzoglou told The Block.
Quick Take The Senate voted 60 to 38 on Thursday on a resolution to overturn the SEC’s SAB 121, which establishes certain accounting standards for firms that custody crypto. The resolution will likely be vetoed when it reaches President Joe Biden’s desk.
Quick Take The exploiter seems to be using flash loans to get enough SOL to buy out Pump.fun memecoin bonding curves.
Bloomberg ETF analyst Eric Balchunas said BlackRock having more than 400 holders report they own its spot bitcoin ETF is a “mind boggling” result.With $844 million worth of BlackRock’s ETF, Millennium Management led the way in terms of total shares owned, followed by Schonfeld Strategic Advisors and Aristeia Capital.
Bitcoin derivatives traders are still ready to pay a premium for short-term downside protection, analysts say.However, a longer-term outlook shows a more optimistic options distribution, skewed towards calls, the analysts added.
Quick Take Former Alameda Research exec Sam Trabucco submitted a character reference for Ryan Salame before his May 28 trial. Trabucco called Salame his “best friend” and called for “fair” consequences for Salame. Trabucco served as Alameda’s CEO along with Caroline Ellison for about a year before resigning in August 2022.
Quick Take Top crypto investor Animoca Brands led a $7 million funding round for Param Labs, a gaming platform that has a significant online community across X and Discord. Delphi Ventures and Cypher Capital were among the many other investors who participated in the round.
Quick Take Tornado Cash developer Alexey Pertsev has appealed his conviction on money laundering charges. A panel of Dutch judges sentenced Pertsev to 64 months in prison on Tuesday.
Morgan Stanley has emerged as one of the top holders of U.S. spot bitcoin ETFs as of March 31, according to a Wednesday 13F filing with the SEC.The multinational investment bank and financial services company disclosed holding $269.9 million worth of Grayscale’s GBTC and $2.3 million of Ark Invest’s ARKB.
PancakeSwap will pay up to $8 million to Uniswap users who have paid high interface fees on its competitor’s platform. Eligible traders must match their Uniswap v3 holdings on PancakeSwap v3. The reimbursement campaign comes after Uniswap hiked its interface fees from .15% to .25% in April.
