Labubu Meme Coin Skyrockets in Value As Stores Pull Labubu Dolls Over Safety Concerns

Morgan Stanley's MSBT Bitcoin ETF attracted $30.6 million on its first trading day, despite a net outflow of $124.5 million from spot Bitcoin ETFs. With a 0.14% expense ratio, MSBT undercuts BlackRock's IBIT by 11 basis points, intensifying competition in the market.

The U.S. Treasury Department proposed rules for stablecoin issuers to comply with anti-money laundering and sanctions programs under the GENIUS Act. The proposal defines obligations for stablecoin issuers, requiring them to establish and maintain these programs to prevent financial crimes.

According to a Chainalysis report, stablecoins could potentially handle up to $1.5 quadrillion in annual trading volume by 2035, surpassing traditional payment networks. The report projects significant growth driven by intergenerational wealth transfer and increased point-of-sale integration.

Bernstein's report downplays the existential threat of quantum computing to Bitcoin, emphasizing the need for a long-term upgrade cycle. The firm highlights risks to legacy wallets but assures minimal impact on newer encryption protocols and mining operations.

Michael Saylor, executive chairman of Strategy (MSTR), believes bitcoin hit its bottom in early February at $60,000. He emphasized that bottoms are driven by seller exhaustion and capital structure, not just valuations. Saylor foresees limited selling pressure due to ETF inflows and companies shifting assets into bitcoin.

The Clarity Act, a significant piece of crypto legislation in the US, may impact European crypto regulations and investor confidence. Coinbase's EU growth could benefit from alignment between US and EU regulations, especially regarding stablecoin yield provisions.

Hyperliquid traders experienced significant liquidations as benchmark oil prices plummeted, leading to losses of $79.7 million in leveraged positions on Brent and WTI crude oil perpetual futures. The decentralized exchange's users have shifted towards speculating on real-world assets since an upgrade in October.

Cloudflare aims to enhance its platform's resistance to quantum computing attacks by 2029, focusing on post-quantum authentication to prevent potential security breaches. The company's accelerated efforts are in response to the growing concern of "Q-Day," when a practical quantum computer could pose cybersecurity risks.

Yuga Labs has settled a lawsuit against artist Ryder Ripps and Jeremy Cahen over alleged copycatting of its NFTs from the Bored Ape Yacht Club collection. The agreement ends a two-year dispute over trademark infringement, with proposed court orders barring Ripps and Cahen from using Yuga's trademarks and imagery.

Adam Back refuted claims of being Bitcoin's creator, Satoshi Nakamoto, following a New York Times article linking him to the pseudonym. The investigation by Pulitzer Prize winner John Carreyrou analyzed writing similarities and technical contributions to Bitcoin.