Bull-Run Vibes: A Crypto Weekly Review

3 min readJun 7, 2024


This week marks several remarkable wins for the crypto community as Bitcoin surges towards its ATH.

U.S. Spot Bitcoin ETFs Achieve Record-Breaking Inflow Streak

U.S. spot bitcoin exchange-traded funds (ETFs) have recorded their 18th consecutive day of net inflows, marking the longest streak since their listing.

The 11 funds collectively saw $217.78 million in net inflows, with BlackRock’s IBIT leading the charge, drawing $350 million alone. Fidelity’s and VanEck’s bitcoin ETFs also experienced net inflows, albeit smaller.

Roaring Kitty Memecoins Skyrocket Following GameStop Stock Surge

Roaring Kitty-themed memecoins have experienced significant gains following a surge in GameStop’s stock. CoinGecko data shows that GME, KITTY, and ROAR memecoins increased by 160%, 330%, and 150%, respectively. On Friday morning, these coins traded at $0.03088, $0.0377, and $0.001584.

Robinhood Acquires Bitstamp for US Institutional Crypto Trading

Robinhood is broadening its crypto industry reach by acquiring the Bitstamp cryptocurrency exchange.

Robinhood plans to buy Bitstamp for $200 million to cater to U.S. institutional clients. The acquisition, pending regulatory approval, should finalize by mid-2025.

Gary Gensler Pivots on Crypto Securities Stance During CNBC Interview with Jim Cramer

In a surprising turn, SEC Chair Gary Gensler appeared to pivot on his stance regarding crypto securities during a live interview with Jim Cramer on CNBC. When questioned about the possibility of a BONK ETF, Gensler emphasized the need for proper disclosures rather than reiterating his previous claim that every crypto asset is a security. “These tokens… have not given you the proper disclosures you need to make your investment decisions, but also that are required by the law,” Gensler stated.

Missing ‘Crypto Queen’ Suspected Murdered by Bulgarian Drug Lord

Ruja Ignatova, the notorious “Crypto Queen” behind the OneCoin Ponzi scheme that defrauded investors of $4.5 billion, disappeared seven years ago following a US arrest warrant. A recent BBC investigation now suggests that Ignatova may have been murdered by a Bulgarian drug lord years ago.

BNB Sets New All-Time High, Surging to $701

BNB, the native token of the BNB Chain ecosystem, reached a new all-time high of $709 on Wednesday. The fourth-largest cryptocurrency by market capitalization surged more than 11% in the past 24 hours, surpassing its previous peak of $690 from May 2021.

BlackRock and Citadel back New Texas National Stock Exchange

BlackRock and Citadel Securities are backing the new Texas Stock Exchange (TXSE), which has raised $120 million and plans to file with the SEC by year’s end, reports the Wall Street Journal. The pro-crypto state’s stock exchange could potentially be another alternative for crypto companies looking to go public.

MicroStrategy and Michael Saylor Settle Tax Case for $40M

MicroStrategy and founder Michael Saylor settled a $40 million tax evasion lawsuit with the District of Columbia’s attorney general, as reported by The New York Times on June 3.

The report called the $40 million settlement the largest income tax fraud recovery in the district’s history. It was also the first case under the district’s revised False Claims Act, which encourages whistleblowers to report tax evasion involving concealed residency information.




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