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OVERVIEW

‘Tis But A Scratch Pullback ♟️

Before we dive in, here’s today’s crypto market heatmap:

Source: Santiment

And here’s a look at crypto’s total market and altcoin market cap charts:

Source: TradingView

NEWS
ICYMI: LTC Now Hodled By Penny Bio Stock ❤️‍🩹 

MEI Pharma $MEIP ( ▲ 4.73% ) just shoved a fat stack of chips onto the Litecoin square, and Wall Street’s counting the cards. Just how phat a stack? Basically double the market cap of MEIP 👾

I actually wanted to talk about this yesterday – but, space is limited and all. Anyway, if you’re wondering why $LTC.X ( ▲ 2.65% ) is one of the few in the green cryptos today, this probably has something to do with it.

Biotech Meets Block Reward 🧱 

MEI Pharma inked a $100 million private placement so it can turn part‑time chemist, full‑time coin hoarder. Titan Partners and GSR led the round, and the whole thing prices at $3.42 a share, more than enough juice to fill a fresh Litecoin treasury.

Also: Litecoin founder Charlie Lee gets a board seat. And just so crypto social understands which Lee we’re talking about, it’s this Lee:

Litecoin’s Dad, Charlie Lee – Source: Wikipedia

Not to be confused with Fundstrat’s Tom Lee who is also BitMine’s Chairman of the Board:

Not The Drummer Tom Lee – Source: Bloomberg

• Fun fact: Charlie Lee sold LTC’s top in December 2017 at, wait for it, $420.

• Another fun fact: $420 is Litecoin’s all-time high.

• Sad fact: Litecoin hasn’t made a new all-time high since December 12, 2017.

Why This Isn’t Another MicroStrategy Clone 👬

Bitcoin’s already flirting with $120k, so piling in late feels like ordering dessert after they’ve done last call and all that’s available is dairy-free and gluten-free banana pudding. 🤮 

Litecoin, though, sits cheap, runs fast, and lives on every payments rail that still pretends fees matter. BitPay data keeps showing LTC punching above its weight in real transactions – retail cash registers love it because Visa doesn’t grab a toll.

Charlie’s pitch is brutally simple: fourteen years of uptime, penny‑level fees, and enough liquidity to swallow a biotech’s rainy‑day fund without clogging the pipes. 👍️ 

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NEWS
Kraken Founder Cleared, Gadgets Returned 😏

Feds closed their two‑year chase of Kraken boss Jesse Powell and shipped back the laptops and phones they carted away in 2023 🤷‍♂️

What Sparked the Drama 🎭️ 

• Wrong battlefield – the raid came from a spat with Verge, Powell’s Sacramento arts nonprofit, over who held the keys to Slack and Google.

• Headlines ballooned once the New York Times framed routine login wrangling as “hacking” and “cyber‑stalking.”

• Powell had already sued Verge’s board, claiming they quietly switched domains and locked him out before smearing him.

How It Ended 🤔 

• Department of Justice handed Powell a declination letter plus dozens of devices that now serve as evidence the board booted him first.

• One board member, lawyer Phil Cunningham, stands accused of hiding key discovery docs – he isn’t chatting.

• Kraken’s IPO track remains intact, and Powell is still hunting damages in civil court.

Fallout ☢️ 

• Regulators lost a marquee crypto scalp, while Kraken gains a shiny “case dismissed” badge for licensing talks.

• Verge keeps its art shows rolling but might lose a millionaire patron if the lawsuit sticks.

• Those drives likely held Bitcoin bought near $23k – price hovers around $120k today, so the FBI briefly babysat a 5‑bagger without noticing 🤑

NEWS
Telegram Flips the Switch: TON Wallet Hits 87 Million American Phones 📱

Telegram users in the U.S. can now send, receive, and manage cryptocurrency directly inside the app, no downloads, extensions, or separate logins required. 🤯

What Makes TON Wallet Tick 🕰️ 

• Self‑custody - your keys, your coins, your problem if you fat‑finger the send field.

• Assets on tap - USDT, Toncoin, and any other TON‑based token you fancy.

• One‑tap swaps & staking - built‑in DEX hooks and yield options so the degens never leave chat.

• Zero‑fee buys via MoonPay - Apple Pay, Google Pay, or plastic; the on‑ramp bill reads $0.

• Split‑key backup - half lives in your Telegram account, half in your email, so losing both means you probably have bigger issues.

• Mini Apps ready - games, payments, and whatever else the TON devs cough up next.

Kind Of A Big Deal 😱 

Telegram already stuffed a crypto bazaar in its basement for the rest of the world. Over 100 million wallets went live last year, and the app itself serves a cool billion humans every month.

The United States was the regulatory hold‑out – until now.

CEO Andrew Rogozov says the rules stopped looking like landmines, so the team hit “deploy.” Translation: the SEC finally looks busy elsewhere. With 87 million U.S. eyeballs and a friction‑free wallet, Telegram just marched onto Square’s and Coinbase’s turf wearing steel‑toed boots. 👢 

NEWS IN THREE SENTENCES
AI, Stablecoins, & Privacy News 🕵️

☕ DFINITY’s Caffeine Lets Non-Coders Talk Apps Into Existence

Self-Writing Internet means your idea becomes code before coffee cools. Hackathon rookies spat out 240 projects in a day because the AI wrote every line. Dominic Williams live-generated a golf store with Stripe and called it normal. Internet Computer.

🌍 Alchemy Chain Publishes White Paper and Declares “Stablecoins Only”

The Layer1 pivot ditches generic dreams and focuses on cross-border USD rails with native conversions. Senate’s GENIUS Act timing couldn’t be sweeter for a compliance-friendly chain built for remittances. Strange that boring old payments suddenly sound revolutionary again. Alchemy Pay.

NEWS IN THREE SENTENCES
Real World Asset Tokenization (RWA) News 🪙

💵 1inch Explains How Tokenized Bonds Turn Coupons Into Clicks

Smart contracts now shoot interest to wallets and let grandma trade Treasuries at 3 AM. Fractional units and instant settlement slash the fees middlemen pretend are mandatory. Compliance departments still sweating smart-contract bugs aren’t wrong, they’re just late. 1inch.

NEWS IN THREE SENTENCES
Metaverse, NFT, & Gaming News 🎮️

🎲 Band VRF Drops on Initia and Kills the “Rigged RNG” Excuse

Zaar Chain already flipped 100 turbo coins with it and nobody cried foul. Now any Initia appchain can pull cryptographic randomness on demand. Casino devs just lost their last reason to hide the odds. Band Protocol.

⚔️ Ronin Creator Rumble Throws $2K Weekly at Meme Lords

TikTok views now pay rent if you mention Web3 swords. Top 25 on cookie.fun or a killer video equals USDC in the wallet every Sunday. Rage-bait disqualifies you, so keep the hot takes civil. Ronin.

NEWS IN THREE SENTENCES
DeFi, DEX, & Lending Protocol News 🏦

🪐 CEXs Flock to Cosmos SDK for DIY Blockchains

Turns out Binance, OKX, and Crypto.com want full-stack control instead of renting from Vitalik. The exchanges stitched EVM compatibility onto Cosmos so they get cheap fees without ghost-town liquidity. Pretty sure “decentralization” doesn’t mean each CEX shipping its own sovereign chain. Cosmos.

🔧 Vaulta (formerly EOS) Spring v2 Preview Unleashes Sync Calls for Modular Contracts

Developers can chain functions across contracts and get instant returns like it’s 1990s RPC. Breaking changes are guaranteed, so testnets only. Feedback welcome, mainnet disasters not. Vaulta.

LINKS
Links That Don’t Suck 🔗

🐻 How Berachain’s leaning into ‘what the market is currently validating’

↗️ CME: XRP futures secure new record

👨‍⚖️ Lawyers for Roman Storm may file for a mistrial after key witness testimony

💰️ Ethereum treasury SharpLink’s Holdings reach $1.3 billion with latest ETH purchase

🤖 Humanoid robot performs medical procedures via remote control

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Author Disclosure: The author of this newsletter holds positions in ADA, IMX, COPI, MIN, AGIX, ALGO, ZEC, XLM, and NEAR. 📋