Crypto Evening: Looking Back.

🫥 Morning news roundup.

🆕 Donald Trump reiterated that he wants to make the U.S. the global crypto capital and Bitcoin superpower, signed legislation for stablecoins, criticizes excessive regulation, and says that if America doesn’t take the lead in crypto, China will.

🆕 U.S. Marines on the amphibious assault ship USS Tripoli arrived in the Middle East. The amphibious ship is designed for landing operations, not defense.

🆕 The U.S. and Israel struck a water reservoir in Haftkel city, Khuzestan province, in southwestern Iran.

🆕 The balance of addresses holding more than 10,000 BTC has remained neutral for many years. Addresses holding between 100,000 and 1 million BTC are also stable.

🆕 World Foundation sold $65 million in WLD tokens via OTC to four counterparties at approximately $0.2719 per token, of which $25 million are frozen for 6 months [selling a token 97% below ATH when you are the CEO of one of the most valuable companies in the world, valued at over $300 billion, (OpenAI, is at least a tokenomics failure].

🆕 Top Ethereum projects by development activity this week: mUSD, LINK, AZTEC, STRK, ETH, WLD, MANA, ZAMA, SNT, LDO.

🆕 Turkey sold 58 tons of gold in two weeks )$8B+(, the largest sell-off in 7 years, more than all global gold ETFs in the same period. Half went into dollar swaps, the rest to the open market. The reason: protecting the lira amid the Iranian war, high energy prices, and dollar shortages.

🆕 Companies acquired in 2021 at 17x revenue are now being revalued at 4.6x [BDC )business development companies( lent against these assets at a 17x valuation. Now the assets are worth 3-4 times less, collateral has collapsed, but losses have not yet been publicly recognized, just quietly revalued within portfolios. When this comes to light through refinancing or sale, a wave of write-offs will follow].

🆕 The S&P has been down for five consecutive weeks, -2.12% this week. Out of 16 historical analogs over 50 years: in 12 cases, the decline continued into the sixth week; in 10 out of 16, the additional drop exceeded 5%; in 6 out of 16, it exceeded 10% within the next quarter.

@E1#