The biggest overnight story: Bloomberg reports that the U.S. Department of Justice is reviewing whether Binance violated its 2023 plea deal. The review stems from an investigation into sanctions on Iran, with federal prosecutors seeking to seize $61 million allegedly linked to Iranian oil payments routed through Binance. There are currently no charges against Binance, and officials say the company is cooperating with the investigation—but $BNB is bound to take a hit in the short term. Fined in 2023 and now they’re digging up the past again—this script feels all too familiar.
The money flows look even colder. Spot $BTC ETF saw net outflows of about $700 million from Monday through Thursday, while $ETH ETF shed nearly $490 million. The Fear and Greed Index fell from 72 to 59. This week’s pattern is institutions selling into the rebound—don’t kid yourself.
But traditional finance is charging in hard: Samsung Wallet will launch USDC transfers at the end of the month via Solana; OKX and ICE, parent company of the NYSE, are teaming up to tokenize more than 60 U.S. stocks for round-the-clock trading; and the CFTC has proposed a new regulatory framework. Regulation is moving at a snail’s pace, but the big players aren’t slowing their plans at all.
On the oil front, Trump and Putin struck a major diesel deal, while attacks in the Strait of Hormuz hit a new high. The macro picture is a complete mess. My take: stay defensive in the short term, and wait for ETF flows to turn positive before talking about buying the dip.
NFA DYOR
#BTC #ETH #BNB #ETF #RWA
The money flows look even colder. Spot $BTC ETF saw net outflows of about $700 million from Monday through Thursday, while $ETH ETF shed nearly $490 million. The Fear and Greed Index fell from 72 to 59. This week’s pattern is institutions selling into the rebound—don’t kid yourself.
But traditional finance is charging in hard: Samsung Wallet will launch USDC transfers at the end of the month via Solana; OKX and ICE, parent company of the NYSE, are teaming up to tokenize more than 60 U.S. stocks for round-the-clock trading; and the CFTC has proposed a new regulatory framework. Regulation is moving at a snail’s pace, but the big players aren’t slowing their plans at all.
On the oil front, Trump and Putin struck a major diesel deal, while attacks in the Strait of Hormuz hit a new high. The macro picture is a complete mess. My take: stay defensive in the short term, and wait for ETF flows to turn positive before talking about buying the dip.
NFA DYOR
#BTC #ETH #BNB #ETF #RWA