Welcome to the Beluga Brief, where we deliver data-driven insights to your inbox every day of the week, spending our time in the crypto trenches and combing through thousands of crypto news feeds so you don’t have to.

What happened today?

The Token2049 conference in Singapore is now in full swing, with the most chatter so far coming out of Andrei Grachev, CEO of market maker DWF Labs, and his speech seemingly centered around memecoins. Given his influence in the space as well as replies on his Tweet from other public figures of the industry like Justin Sun, all the memecoins mentioned in the presentation saw a massive pump following. In other Token2049 news, Ethereum co-founder Vitalik Buterin decided to get up on stage and sing, which I hope in the future his team dissuades him from doing.

On the trading side all eyes are on the US Fed as the market waits to see how large the interest rate cut will be. This uncertainty seems to have pushed BTC back under $60,000 once again at time of writing, so it seems like we’re just back to our regular range. In the alt-coin market FTM is still holding strong just under 60 cents, however it does look to be pulling back to coincide with the Bitcoin move. Short term price action is always difficult to predict but if macro conditions don’t worsen, I think this could be the start of alt-coin season.

Biggest Headlines

The Beluga intern has been hard at work gathering all the most important crypto news stories so you have them in one place!

The Majors

• Five experts on what the Fed’s rate cute means for Bitcoin

• ‘It’s cool to hate Ethereum right now. I bet this ends up looking silly,’ Bitwise CIO says

Regulatory

• SEC Charges NanoBit and CoinW6 with defrauding investors as total crypto scams hit $4bn

• Decentralized AI society launched to fight Tech Giants who ‘Own the Regulators’

Alt Coins

• Bitget, Foresight Ventures buy $30M TON tokens from Whales

New Launches

• Hemi Labs raises $15M to launch modular blockchain in round led by Binance Labs

• Ex-Coinbase execs to launch exchange using PayPal stablecoin for settlement

Miscellaneous

• Fintech giant Revolut said to be planning stablecoin

• Hong Kong sees biggest uptick in cryptocurrency activity in East Asia, new report finds

Tweet of the Day

Is this time different?

Recent Beluga Content

This week we sat down with Aly Madhavji, Parter at Blockchain Founders Fund, to learn about his crypto journey and some insights into how he looks at investments. Check it out below!

The content on this site is for informational purposes only and should not be construed as investment advice. While Beluga strives to ensure the accuracy and timeliness of information, there may be discrepancies when comparing our data to that of financial institutions, service providers, or specific product websites. Always consult with a professional before making any financial decisions.

Will McKinnon is the Head of Content for Beluga and has spent every day for many years trading coins. For that reason there are too many to name, however his largest holdings by a significant margin are Ethereum and Bitcoin. NFA DYOR