Meme Coin Rollercoaster Week: Celebrities Run the Show

1ATH.Studio
4 min readJun 14, 2024

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This week in the crypto world, meme coins took center stage with celebrity endorsements and viral trends driving the market wild.

Andrew Tate’s Meme Coin DADDY Surpasses Iggy Azalea’s MOTHER Token

Andrew Tate’s promoted meme coin DADDY has overtaken MOTHER, the token created by Australian rapper Iggy Azalea, according to DEX Screener. This milestone was a key goal for Tate, the former kickboxer, when he first promoted the token. Tate, known for his controversial views, tweeted extensively about the token, pledging to never sell but instead burn 40% of the supply held in his public wallet.

Robert Kiyosaki Advocates Bitcoin as Path to Millionaire Status

“Rich Dad Poor Dad” author and entrepreneur Robert Kiyosaki has declared that Bitcoin is the easiest way to become a millionaire.

In a post on X, Kiyosaki stated, “Making millions as an entrepreneur is hard. I know. You have to be really smart, dedicated, and lucky to become a millionaire starting your own business. I save Bitcoin because Bitcoin does the hard work for me. That is why I love Bitcoin.”

U.S. Spot Bitcoin ETFs See $64.93M Outflow, Ending 19-Day Inflow Streak

On Monday, the 11 U.S. spot bitcoin exchange-traded funds (ETFs) saw a daily net outflow of $64.93 million, ending their longest inflow streak of 19 days. Grayscale’s GBTC led the outflows with $40 million, followed by Invesco and Galaxy Digital’s BTCO, which experienced net outflows of $20 million. These figures were reported by SosoValue, highlighting a significant shift in investor sentiment.

zkSync Era Developers Announce Major Token Airdrop

The developers of Ethereum layer-2 zkSync Era and the ZK Stack are preparing to airdrop their new token, ZK. Two-thirds of the tokens will be allocated for community distribution, with 17.5% designated for an airdrop. This airdrop, targeting 695,232 wallets, represents the largest distribution of tokens to users among major L2s, according to Matter Labs in a recent blog post.

Elon Musk Threatens to Ban Apple Devices Over OpenAI Integration

Billionaire Elon Musk has issued a stark warning to Apple regarding its potential integration of OpenAI’s ChatGPT into its operating systems for iPhone, iPad, and Mac.

“If Apple integrates OpenAI at the OS level, then Apple devices will be banned at my companies. That is an unacceptable security violation,” Musk emphasized in a X post.

Musk went further, suggesting that visitors to Tesla, Space Exploration Technologies Corp (SpaceX), and other companies he runs would need to have their Apple devices “stored in a Faraday cage” upon entry.

Federal Reserve Maintains Interest Rate at 5.25–5.5%

The Federal Reserve has announced it will maintain the interest rate at 5.25–5.5%, aligning with market expectations. The updated dot plot reveals that four Fed officials now foresee no rate cuts this year, up from two in March. Additionally, seven officials predict one cut, while eight anticipate two cuts by year-end.

Terraform Labs and Do Kwon to Pay $4.5 Billion to Settle SEC Fraud Case

According to court documents released Wednesday, the Securities and Exchange Commission (SEC) has stated that Terraform Labs and its former CEO, Do Kwon, will pay approximately $4.5 billion in a significant settlement agreement.

MicroStrategy Announces $500M Convertible Senior Notes to Acquire More Bitcoin

Nasdaq-listed business intelligence firm and bitcoin holder MicroStrategy (MSTR) announced plans to offer $500 million in convertible senior notes due 2032.

The proceeds will be used to acquire additional bitcoin and for other corporate purposes. The unsecured, senior obligations of MicroStrategy will pay interest semi-annually on June 15 and December 15, starting December 15, 2024

Britain’s Public Healthcare Chief Calls for Action to Prevent Crypto Trading Addiction Among Youth

Amanda Pritchard, the chief executive of the United Kingdom’s National Health Service (NHS), is urging British lawmakers to take action to prevent young people from becoming addicted to crypto trading. Speaking at the ConfedExpo of NHS managers in Manchester on June 12, Pritchard highlighted the growing concern over this issue.

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