The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Happy Thursday! While the Crypto Fear & Greed Index has hit its lowest level since the Terra collapse fallout of June 2022, we're definitely not back in a bear market... right?
In today's newsletter, BlackRock's Bitcoin ETF registers record outflows, Robinhood CEO Vlad Tenev seeks to "unleash the true power of the crypto revolution," a Congressman is set to introduce a bill to ban politicians from launching memecoins and more.
Meanwhile, the SEC will drop its case against MetaMask, according to Consensys founder Joe Lubin.
Let's get started.
BlackRock's spot Bitcoin ETF IBIT witnessed record net outflows of $418.1 million on Wednesday as the crypto price plunge extended into a third day amid uncertainty surrounding President Trump's tariff plans.
Robinhood CEO Vlad Tenev sees tokenization as a means to "unleash the true power of the crypto revolution" by enabling real-world assets, such as equities and private investments, to be brought onto blockchain technology, pending regulatory approval.
Democrat Rep. Sam Liccardo is set to introduce a bill to stop politicians and their families from issuing or sponsoring memecoins like those recently launched by President Trump and First Lady Melania Trump, according to a draft seen by the Associated Press.
It's not all doom and gloom, with 21Shares Crypto Research Strategist Matt Mena suggesting Nvidia's strong earnings, positive PCE data and regulatory clarity as key drivers that could push bitcoin back above current levels, having now dropped 21% from its all-time high.
The Crypto Fear & Greed Index hit a multi-year low reading of just 10 on Thursday, reflecting "extreme fear" in sentiment amid the recent price rout.
Never miss a beat with The Block's daily digest of the most influential events happening across the digital asset ecosystem.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
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