TL;DR

• Musk and Tesla have successfully had lawsuits dismissed that accused them of manipulating Dogecoin and engaging in insider trading.

• Russia has issued a warning to France against taking political action in the case involving Telegram's CEO.

• Bloomberg reports that Australia is leading the world in the growth of cryptocurrency ATMs.

• Upbit is set to introduce a USDC trading pair on its platform.

• The U.S. spot Bitcoin ETF saw a net outflow of $72.1 million yesterday.

• Cboe has resubmitted a revised application for listing options on spot Bitcoin and Ethereum ETFs.

• Analysis shows that Grayscale ETHE has shed 31% of its ETH holdings since its launch, with the current market activity being sluggish and trading volumes extremely low.

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Alpha of the Day

Musk and Tesla Dodge the Doge Bullet

In a twist that could only happen in the world of meme stocks and moonshots, Elon Musk and Tesla have managed to shake off lawsuits accusing them of Dogecoin manipulation and insider trading. The court basically said, "Not today, Doge Army," and tossed out the claims, leaving Musk free to continue his Twitter antics without legal repercussions. If you thought Musk’s love affair with Dogecoin was wild, this legal victory just adds another chapter to his rollercoaster relationship with the crypto world.

Russia to France: Hands Off Our Telegram Titan

In a move that feels straight out of a Cold War thriller, Russia has issued a stern warning to France, telling them to back off in the ongoing case against Telegram’s CEO. The Kremlin isn't thrilled with the idea of France turning this into a political circus and seems ready to flex its diplomatic muscles. It’s like the plot of a spy movie, only instead of secret agents, we’ve got tech moguls and government officials throwing shade across borders.

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Australia: The Crypto ATM Capital of the World

Move over Wall Street, Down Under is making waves in the crypto world! According to Bloomberg, Australia is now leading the global charge in the growth of cryptocurrency ATMs. It seems Aussies have taken to Bitcoin like kangaroos to the Outback, turning their country into a digital goldmine. Who knew that Australia, famous for its beaches and barbecues, would also become the go-to spot for getting your hands on some digital currency?

Upbit to Add USDC Trading Pair: Stablecoins, Assemble!

In a move that’s sure to excite stablecoin enthusiasts, Upbit is gearing up to introduce a USDC trading pair. For those who love the stability of fiat-backed coins but still want to play the crypto game, this is like getting the best of both worlds. Upbit users will soon be able to trade USDC with ease, proving once again that the crypto exchange world is all about giving the people what they want—more trading options and less volatility!

U.S. Bitcoin ETF: The $72.1 Million Vanishing Act

In what feels like a magic trick gone wrong, the U.S. spot Bitcoin ETF experienced a net outflow of $72.1 million yesterday. It’s as if investors decided to say, "Thanks, but no thanks," and pulled their money out faster than you can say "HODL." Whether it’s a sign of market jitters or just a temporary blip, one thing’s for sure: the crypto world never has a dull moment.

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Cboe Tries Again with Bitcoin and Ethereum ETF Options

They say if at first you don’t succeed, try, try again—especially in the world of ETFs. Cboe is back with a revised application to list options on spot Bitcoin and Ethereum ETFs, hoping this time it’ll get the green light. It’s like reapplying for a job you really want, only this job involves millions of dollars and the hopes and dreams of crypto traders everywhere. Fingers crossed, Cboe!

Grayscale ETHE: The ETH Exodus

Grayscale’s ETHE product is going through a bit of a rough patch, shedding 31% of its ETH holdings since its launch. It’s like the crypto equivalent of losing weight, but not in a good way. With market activity crawling and trading volumes barely moving, it seems like ETHE is in desperate need of a pick-me-up. Maybe a pep talk from Vitalik himself?

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