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  • Crypto Alpha, 6 June 2024

Crypto Alpha, 6 June 2024

Daily Alpha on All Things Crypto, Web3 and Blockchain

TL;DR

  • NOT donations to Telegram's founder quadrupled in value over two weeks.

  • OpenAI employees warned about AI risks in an open letter.

  • The Trump campaign raised nearly $300 million in May.

  • Uniswap's founder finds the meme coin market cool but has no strong opinions on them.

  • ETHU's trading volume hit $15 million on its second day.

  • Bitcoin's 15-year boom and bust history shows its resilience, says Liang Fengyi.

  • BNY Mellon reports 39% of family offices are into crypto.

  • Ethereum sentiment index reached its highest since March 2023.

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Alpha of the Day

Telegram's Founder Celebrates NOT Donations Boom

Two weeks ago, Telegram's founder received donations in the form of NOT tokens. Fast forward to today, and those donations have quadrupled in value. That's right, four times the moolah! It's like finding out your Beanie Baby collection is worth a fortune. Who knew a quirky token would skyrocket like this? Seems like Telegram's founder is having the last laugh, all the way to the bank. So, if you thought your obscure crypto donations were just digital dust, think again – they might just be your next golden goose.

OpenAI Employees Sound the Alarm on AI Risks

In a move straight out of a sci-fi thriller, OpenAI employees penned an open letter, warning the world about the lack of supervision in AI development. Picture this: robots taking over, not just your job, but the entire world. Okay, maybe that’s a stretch, but these brainiacs are seriously concerned. They’re calling for more oversight to prevent our future AI overlords from getting out of hand. It's like saying, “Hey, let’s not repeat the plot of every dystopian movie ever made!” Point taken, AI geniuses.

Trump Campaign Rakes in Nearly $300 Million in May

Hold onto your red hats, folks! The Trump campaign pulled in a whopping $300 million in May. That’s more cash than you’d find in Scrooge McDuck’s vault. Whether you love him or loathe him, you’ve got to admit that’s a serious chunk of change. Looks like MAGA money is still flowing like a busted fire hydrant. The question is, what will they spend it all on? Gold-plated everything, probably. Stay tuned for the next season of "The Apprentice: Campaign Edition."

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Uniswap Founder Shrugs at Meme and Celebrity Coins

When asked about meme coins and celebrity coins, the Uniswap founder basically said, “Meh.” He’s not bothered by the Doges and Shibas of the crypto world, but he thinks the meme creation market is pretty cool. It’s like being at a party where everyone’s trading baseball cards, and he’s just there for the snacks. Meme coins? Whatever. But the creativity behind them? Now that’s something to get excited about. So, keep those memes coming, internet – the Uniswap boss approves.

Ethereum Futures ETF ETHU Sees $15 Million Trading Volume

The 2x Ethereum futures ETF, ETHU, just hit a major milestone – $15 million in trading volume on its second day. That’s like finding out your lemonade stand made it big on Shark Tank. Traders are clearly vibing with this ETF, doubling down on Ethereum’s future. It's the kind of Wall Street action that makes you wish you’d paid more attention in econ class. Looks like ETHU is the new darling of the crypto trading world, and it's just getting started.

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A Safe Web3

Bitcoin’s Resilience Proved by 15 Years of Boom and Bust

Liang Fengyi knows a thing or two about Bitcoin. He’s watched it go through more ups and downs than a rollercoaster. Over the past 15 years, Bitcoin has had its fair share of booms and busts, but it’s still standing strong. Think of it as the Rocky Balboa of the financial world – it takes a beating but keeps on fighting. Fengyi says this resilience proves Bitcoin’s worth as an alternative asset. So next time someone says crypto is dead, just remember: Bitcoin is the comeback king.

BNY Mellon Finds Family Offices Digging Crypto

According to BNY Mellon, 39% of family offices are now either investing in or seriously exploring crypto. It’s like finding out your grandma’s knitting circle has a secret Bitcoin stash. Family offices, typically known for their conservative investments, are jumping on the crypto bandwagon. It’s the financial equivalent of a mid-life crisis, but instead of buying a sports car, they’re buying Bitcoin. Crypto isn’t just for tech bros anymore – it’s becoming a family affair.

Ethereum Sentiment Index Peaks Since March 2023

The Ethereum market sentiment index just hit its highest level since March 2023. It’s like Ethereum is throwing a party and everyone’s invited. Traders are feeling bullish, and the vibes are off the charts. Whether it’s due to recent upgrades, new projects, or just good old-fashioned hype, Ethereum’s got its groove back. So, if you’re holding ETH, now might be the time to sit back, relax, and enjoy the ride. The sentiment is high, and so are the hopes.

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