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Ben 🎭⚡🎩

@beneto

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Ben 🎭⚡🎩 pfp
Ben 🎭⚡🎩
@beneto
Almost all meme coins in the top 100 alts are down by double digits now. Bitcoin reached a new peak of $95,000 hours ago but was rejected and pushed south by over a grand within minutes. Although it has recovered some ground, many altcoins, especially from the meme coin niche, have plummeted hard, leaving over $400 million in liquidations on a daily scale. The specific dump is evident by the plunging meme coin market cap. While that of the entire crypto market has dropped by 2.3% over the past 24 hours to $3.2 trillion on CG, the meme coins have lost more than 10% and their own capitalization has slumped from over $130 billion to $115 billion, according to CoinGecko. The biggest losers over the past day include POPCAT, which has slumped by nearly 20%, and PNUT, which is down by 17%. More double-digit losses from the largest 100 meme token alts come from the likes of BONK (-12%), WIF (-11.3%), and PEPE (-10.5%).
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Ben 🎭⚡🎩
@beneto
On Nov. 18, MicroStrategy unveiled plans to raise $1.75 billion through zero-coupon senior convertible notes to support additional Bitcoin acquisitions and other business initiatives. These notes will not accrue interest, target institutional investors, and mature in 2029. They can be converted into cash, company stock, or a mix of both. The company also plans to allow initial investors to purchase an extra $250 million in notes within three days of issuance. This move could allow MicroStrategy to add more than 19,000 BTC to its holdings if the top asset price remains around its current price of $91,629. This potential acquisition would push MicroStrategy’s Bitcoin ownership closer to 2% of the asset’s fixed supply of 21 million coins.
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Ben 🎭⚡🎩
@beneto
Polymarket Trader Loses Millions on Tyson After Making Bank on Trump Plus: the market is not confident if Matt Gaetz will be confirmed as Trump's attorney general. Polymarket user "zxgngl" pocketed $11.4 million by correctly betting that Republican candidate Donald Trump would re-take the White House. But he lost $3.4 million by taking the wrong side of Friday night's match-up between boxing legend Mike Tyson, and influencer-turned-pugilist Jake Paul. Plenty of punters lost money with long-shot bets on Tyson, the geriatric underdog. But "zxgngl" was the night's biggest loser by far. The runner-up in losses clocked a negative $105,390 and the third-place loser is down $99,997.
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Ben 🎭⚡🎩
@beneto
Speculation is rife that Gary Gensler may resign from the position of SEC Chair and take up an executive role at BlackRock. If this is the case, it could mean a closer collaboration between regulatory expertise and institutional finance.  At the same time, analysts assert that the Spot Bitcoin ETF market could grow to $100 billion with more investors willing to put their money into crypto-based products. Given BlackRock’s significant presence and reputation, the company is strongly incentivized to ensure this becomes a reality.
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Ben 🎭⚡🎩
@beneto
Memecoins’ have posted average returns of 103% over the past 30 days — over 6x higher than the crypto market’s 16.1% average return, according to data from Artemis. Dogecoin (DOGE) and Pepe (PEPE) registered the more significant gains among the 19 memecoins tracked by Artemis during the period, growing 196.1% and 115%, respectively. PEPE’s “beta play” PepeCoin also rose significantly, with a 121.1% gain. Meanwhile, Solana-based Bonk (BONK) climbed 70.2%, while Base’s Brett (BRETT) saw a 63.5% price increase over the period. Notably, many memecoins connected to the US elections have crashed in the days following the conclusion of the presidential race, including MAGA (TRUMP), which fell 72% over the past 30 days. According to market insights platform Kaito AI, memecoins controlled nearly 24% of investors’ mindshare as of Nov. 14. One out of four crypto investors posting on X is discussing memecoins.
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Ben 🎭⚡🎩
@beneto
Ilya Lichtenstein, a hacker behind one of history’s biggest cryptocurrency thefts, received a five-year prison sentence. In 2016, he orchestrated the theft of 119,754 Bitcoin from Bitfinex by authorizing 2,000 fraudulent transactions. He later teamed up with his wife, Heather Morgan, to launder the stolen funds. The couple pleaded guilty on August 3, 2023, to conspiracy charges tied to money laundering. The court will later sentence Morgan on November 18, and Lichtenstein will serve three additional years of supervised release after his imprisonment. The Bitfinex heist, initially valued at $71 million, became one of the largest cybercrimes ever as Bitcoin’s value skyrocketed. To crack the case, the IRS-Criminal Investigations unit, FBI, Homeland Security, and blockchain forensics firm TRM Labs worked together for seven years.
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@beneto
Delhi Police have made progress in investigating the $235 million breach of crypto exchange WazirX by arresting SK Masud Alam from Bengal. On Nov. 13, local media outlet IndiaToday reported that Alam allegedly set up a fake account on WazirX under the alias “Souvik Mondal.” He reportedly sold this account via Telegram to a person identified as M. Hasan, who then used it to carry out the exploit. As part of the investigation, authorities have confiscated three laptops belonging to WazirX’s authorized signatories to examine possible misuse of multisig wallets.
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Ben 🎭⚡🎩
@beneto
XRP has struggled to breach the $1 mark for years, predominantly consolidating below $0.60. However, recent momentum in the crypto market has propelled XRP into the spotlight, with the token showcasing a powerful rally over the past 24 hours. This surge has pushed XRP’s price toward a critical resistance level at $0.75, boosting its market cap above $40 billion and signaling a potential breakout. Technical indicators, including key support and resistance levels, reinforce the view that XRP could be headed toward higher targets, with a short-term outlook aiming at $1.03 as buying pressure continues to build.
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Ben 🎭⚡🎩
@beneto
US Senator Cynthia Lummis remains hopeful that her proposal to establish a national Bitcoin reserve could pass within the first 100 days of Donald Trump’s second presidential term. On Nov. 11, Lummis shared on X that bipartisan backing could propel the bill forward if public support strengthens. She argued that this legislation would improve the US financial landscape and reinforce its status as a forward-thinking leader in the Bitcoin space. According to the lawmaker: “I believe we can get this done with bipartisan support in the first 100 days IF we have the support of the people. It is a game changer for the solvency of our nation. Let’s put America on sound financial footing and pass the Bitcoin Act!”
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Ben 🎭⚡🎩
@beneto
MicroStrategy is back on the bitcoin purchasing market by allocating another $2 billion to accumulate more than 27,000 BTC. It’s worth noting that the Michael Saylor-founded company now sits at a paper profit of around $11 billion given BTC’s recent price explosion. The former CEO announced the latest acquisition on X, indicating that the firm’s total stash has now surged to 279,420 purchased to an averaged price of $42,692 per bitcoin. This means that MicroStrategy has spent in total approximately $11.9 billion.
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Ben 🎭⚡🎩
@beneto
ADA is today’s top performer as its price is close to $0.6. Charles Hoskinson, the founder of IOG, the entity behind Cardano, has returned from his recent absence on X with a notable announcement regarding his role in the Trump administration. The native token of the Cardano ecosystem skyrocketed immediately, charting gains exceeding 30% daily. ADA currently sits at a multi-month peak of almost $0.6. Hoskinson had taken a break from X in recent weeks but published his first 40-minute video hours ago. Perhaps the most notable piece of information that came out of it involves the upcoming new administration of the president-elect, Donald Trump. Cardano’s native token reacted immediately to the news, which spread quickly on X. ADA traded at $0.44 earlier on Sunday but soared in minutes to nearly $0.6. Despite retracing slightly since then, ADA is still over 30% up on a daily scale and 70% higher compared to the same time last week.
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Ben 🎭⚡🎩
@beneto
BlackRock’s IBIT had a massive week after the US elections. The spot Bitcoin ETFs have had a particularly strong year and BlackRock’s IBIT has been at the forefront for most of the inflows. This week was particularly positive for the largest BTC ETF as it broke its own record on November 7 – the day after the US election results came out – and attracted roughly $1.120 billion. Its net inflows continued on Friday with another $206.1 million. Thus, IBIT now has more than $33 billion (as of November 8) in assets under management (AUM) just ten months after its launch. Moreover, BlackRock’s Bitcoin ETF has now surpassed its gold counterparty (iShares Gold ETF (IAU)), which has just shy of $33 billion in AUM. Interestingly, IAU has been active for nearly two decades since it was launched on January 21, 2005.
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Ben 🎭⚡🎩
@beneto
Detroiters Will Be Able to Pay Their Taxes in Crypto Next Year Using PayPal Detroiters will soon be able to pay their taxes and other city fees with crypto through PayPal, according to a Thursday announcement from Detroit’s Office of the Treasury. The crypto payment option, which will be offered through a "secure payment platform managed by PayPal," according to the release, is expected to go live in mid-2025. A spokesperson for the city told CoinDesk the city will only accept the cryptocurrencies supported by PayPal — bitcoin, ether, bitcoin cash, litecoin, and PayPal’s own stablecoin, PayPal USD — but all crypto payments will settle in USD.
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Ben 🎭⚡🎩
@beneto
French gambling regulator Autorite Nationale des Jeux, also known as the National Gambling Authority (ANJ), said on Thursday it is examining the operations of Polymarket, the crypto-based prediction market, which logged record betting volumes on the recent U.S. presidential election. "We are aware of this site and are currently examining its operation and compliance with French gambling legislation," a spokesperson told CoinDesk. "We will come back to you shortly to inform you of the outcome."
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Ben 🎭⚡🎩
@beneto
Global Dollar Network Debuts With Backing From Robinhood, Galaxy Digital, Others Some of the leading crypto firms have formally formed an alliance aiming to encourage digital asset users worldwide to adopt stablecoin. Robinhood, Kraken, Galaxy Digital, Anchorage Digital, Bullish, Nuvei, and Paxos joined forces to launch a new stablecoin known as the USDG, or the Global Dollar Network., helping the integration of stablecoin in everyday financial transactions.
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Ben 🎭⚡🎩
@beneto
Binance Charity, the philanthropic branch of the global blockchain company Binance, is donating $3 million to the Spanish Red Cross (Cruz Roja Española) to support flood relief efforts in Valencia, Spain, according to the latest information shared with Finbold on Tuesday, November 5.
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Ben 🎭⚡🎩
@beneto
The sale of Reddit’s crypto holdings marks a shift away from blockchain and digital asset initiatives that have defined its recent history. Reddit, a pioneering social media force for crypto engagement and arguably the most popular discussion forum, offloaded a substantial portion of its virtual asset holdings in the third quarter of 2024. In its latest regulatory filing, the company revealed that it sold most of its Bitcoin (BTC) and Ethereum (ETH) treasury assets, generating $6.87 million. The tidy sum raked in from the sale helped Reddit turn a profit for the first time in its 19-year existence, amounting to just under $30 million.
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@beneto
China is reportedly considering a massive stimulus package as the country looks to breathe new life into its ailing economy. The second-largest economy in the world may approve a fiscal stimulus worth 10 trillion yuan or $1.4 trillion as soon as next week, reports Reuters.
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Ben 🎭⚡🎩
@beneto
US Treasury bonds are again on the rise after a few months of cooling down, which has raised concerns. Analysts weighed in after a disastrous nonfarm payroll, far below expectations, and renewed recession fears – with gold standing out. On November 1, US Treasury bonds of different maturity time frames surged to local highs, raising concerns among analysts. As Finbold retrieved, the 10-year bonds (US10Y) closed Friday at 4.386%. Yet, it reached a 4.39% peak together with a 4.579% US30Y, which The Great Martis warned “is worsening.”
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Ben 🎭⚡🎩
@beneto
On Polymarket, Kamala Harris' odds of winning the U.S. presidential election have increased from 33% on Oct. 30 to nearly 39%. Donald Trump's have dropped 61%. The increase in Harris' odds might be due to traders hedging their bets, with trades above $10,000 suggesting both large bets on Harris and strategic trading to protect against a Trump loss. Reports of voting irregularities against Trump could be influencing market bets.
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