1. Markets Tumble Amid Hot U.S. Inflation Data
Bitcoin dropped ~2–3.8%, sliding below $119K, while Ethereum slid ~1.4–2.4%, with XRP tumbling around 3.2–6.4%—a broad-market pullback triggered by higher-than-expected U.S. wholesale inflation, clouding hopes for a Fed rate cut. Meme coins were hit hard: PEPE, SPX6900, and Fartcoin plummeted over 10%, while altcoins fell across the board; SKALE was one of the rare winners with nearly +48%.
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2. GameSquare Takes the Helm for AnimeCoin
GameSquare, a Texas-based esports and tech firm, has been named the agency of record for AnimeCoin Foundation, a niche blockchain project aiming to build an anime-themed ecosystem (think Anime.com, Animechain, anime avatars). The move taps into Gen Z and Gen Alpha crypto fandom—but experts caution about heightened volatility and hype in these niche tokens.
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3. U.S. Government’s Crypto Plans Update: No New Buys, No More Sales
U.S. Treasury Secretary Scott Bessent confirmed that the government will not purchase additional crypto for its strategic Bitcoin reserve and intends to stop selling confiscated assets. The reserve, valued at $15B–$20B, will rely solely on seized Bitcoin going forward.
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4. Ex-Goldman Exec Charged in Crypto-Gambling Fraud
Richard Kim, a former Goldman Sachs and JPMorgan executive, faces federal securities and wire fraud charges after allegedly misusing over $4 million of investor funds—promised for blockchain-based casino development. Instead, he transferred nearly $3.8 million into his personal crypto accounts and gambled it away. He also misled investors to hide the losses. If convicted, Kim could face decades in prison.
