Wednesday well wishes everyone!
Dogecoin rallied on the back of Elon Musk’s Twitter shakeup. Meanwhile, crypto software firm Flashbots substantially topped up its coffers, venture capital firm a16z dumped MKR token, and Bitcoin whales moved roughly $60 million in funds. This and more, in today’s Snapshot!
Here’s what’s on our radar.
Musk profile change sees Dogecoin pump 9%
Cryptocurrency Dogecoin rose as high as 8.9% on the day on Tuesday after Twitter owner Elon Musk included the Ð-symbol associated with the token in his profile location.
Musk has come under fire in the past for alleged manipulation of the memecoin’s price via Twitter, which is currently undergoing a rebrand to simply X.
Flashbots raises $60m in funding
Flashbots has raised $60 million towards new development of its popular transaction bundling service, according to a Tuesday statement.
The funding round pushed Flashbots’ valuation across the $1 billion mark, making it a de facto unicorn.
US banks wary of stablecoin bill
Trade organisations which represent the bulk of US financial institutions expressed concern over an upcoming stablecoin bill on Tuesday.
They were wary about a clause that will allow state regulators to approve stablecoin issuance — a move banks say undermines regulatory oversight.
a16z offloads $7m MKR token
Venture capital firm Andreesen Horowitz has sold part of its holdings in crypto lender MakerDAO’s MKR token, amid a rally in the token’s price this week.
a16z is a longtime investor in Maker, having bought 6% of the MKR supply in 2018. MKR is up 20.6% from last week, according to CoinGecko.
Bitcoin whales shuffle $60m in funds
Outsized Bitcoin holders — also known as “whales” — moved $60 million worth of the leading cryptocurrency among several wallets over the last week, after years of dormancy.
Whales may be moving funds for many reasons, from cashing out to swapping for other tokens.
What we’re reading from around the web
Namibia pivots on crypto, will regulate — not ban — digital assets with new law — Blockworks
EthCC Paris: Inside Coinbase’s plan to build an Ethereum Layer 2 — The Block
DeFi headed toward a ‘major resurgence,’ Tribe Capital’s Boris Revsin says — CoinDesk
