Exciting news! Starting this week, we have added a daily edition to the Weekly Whale newsletter, and to go along with this we’ll be rebranding to “The Beluga Brief”. This means we’ll be able to 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.

Weekly Beluga Insights

It seems like while he may be coming to the end of his time at the SEC, Gary Gensler isn’t taking any time off from going after US-based crypto companies once again. OpenSea received a Wells Notice earlier this week, alleging the NFTs traded on the platform are unregistered securities. With NFT trading volume down over 90% from the peak of the market 2 years ago, it seems like odd timing. On the other side of the aisle, however, this week Donald Trump formally announced his upcoming crypto project “World Liberty” along with the mint for his 4th NFT collection. We have no idea what this new project might be yet, however according to website metadata it will offer “High-Yield” investments to its users. As someone who was around during DeFi summer last cycle this sounds a little worrying, but hey at least he’s embracing crypto right?

Major Movers of the Week

Public Trading Wallet Update

With Bitcoin falling back under $60,000 the market has felt some pain this week, especially on the alt coin side. In fact, the market cap of alt coins has fallen to $567B, only a few percentage points higher than it was at the start of the year. It’s always fun to see your coins go straight up but accumulation zones are necessary and I believe that’s where we are currently at, a kind of pause mid cycle to recharge before we keep going. Since starting the Trading Wallet in April we’ve managed to DCA into a number of coins, but we still have about $15,000 sitting in USDC in case the market moves farther to the downside. To stay up to date with every trade we make, you can visit the dashboard by clicking on the graphic above.

Quick Quips: Catch Up on What You Missed

• OpenSea Receives a Wells Notice From the SEC

• Japan Carry Trade Woes “Not Over” Despite Recovery

• Trump to Announce Plan to Make US the “Crypto Capital”

• TON Experiences Two Outages This Week

Tweet of the Week

I tend to agree with Bloomberg ETF analyst James Seyffart.

Recent Beluga Content

Check out episode 15 of the Beluga Pod!

Disclaimer

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