🤯 $1.4 Trillion Asset Fund On Polygon (Matic)
Plus : MicroStrategy Bitcoin Bag Dump & Pepe Memecoin Madness.
GM Folks, It’s CoinBasics Back Again! Get ready for an exhilarating ride as we dive into the hottest topics shaking up the web3 world.
Here is what we’re covering today :
$1.4 Trillion Asset Managers’ New Fund on Polygon (Matic) 🤯
MicroStrategy Bitcoin Bag Dump 💰
$PEPE’s Memecoin Madness 🐸
JP Morgan's Takeover 💼, The Collapse of First Republic Bank 💥
Let’s Dive Right In.
Franklin Templeton's $1.4T Fund 🤝 Polygon
Hold onto your hats because Franklin Templeton, the investment titan with a whopping $1.4 trillion in assets, is making waves in the blockchain realm.
Yes, It’s Trillion with a T… 😂😂
They've launched their Franklin OnChain U.S. Government Money Fund (FOBXX) on Polygon (MATIC), the Ethereum layer-2 scaling solution.
But here's the twist: it's not just any old fund.
It's the first-ever US-registered mutual fund that rides the waves of a public blockchain, delivering seamless transactions and crystal-clear share ownership.
Talk about rewriting the rules!
It's a game-changer, folks!
This marks the first US-registered mutual fund to leverage a public blockchain for seamless transactions and transparent share ownership.
With operational efficiencies, enhanced security, and reduced costs, Franklin Templeton is revolutionizing the fund industry.
MATIC: Keep an Eye on the Prize 👀💸
Amidst this electrifying frenzy, let's not forget about the thrilling world of crypto trading. Did we mention that MATIC is currently trading at $0.97?
Prepare to have your financial worldview shaken to its core, It's time to keep an eye on this groundbreaking partnership!
MicroStrategy $BTC Bag Dump, Offloading Shares
Picture this: Michael Saylor, the fearless captain of MicroStrategy, finds himself in a tight spot.
The $2.1 billion debt incurred to acquire bitcoin is coming back to haunt him.
The company's Q1 earnings report reveals that revenues from their analytics business might not suffice to meet their debt obligations.
To tackle this conundrum, Saylor faces a tough choice—selling their precious bitcoin or issuing more company shares.
Talk about being caught between a rock and a hard place!
Not only is MicroStrategy grappling with debt, but their analytics business is also taking a hit.
Net operating revenues have plunged by 14.4% compared to last year's Q1, leaving them with a modest net operating income of $37 million. But ;
MicroStrategy's love affair with Bitcoin is legendary!
With a staggering 140,000 bitcoins in their possession, they have fueled the crypto market's upward trajectory.
Yet, their mountain of debt casts a shadow over their bitcoin stack.
Will they sacrifice their crypto treasure to appease their financial woes, or will they find a way to protect their digital gold?
The possibility of MicroStrategy selling their bitcoin holdings to cover their debt sends shockwaves through the crypto sphere.
As one of the most prominent bitcoin bulls and corporate holders, the potential liquidation of their bitcoin reserves could send shockwaves through the market, impacting the price of bitcoin.
The outcome hangs in the balance, leaving us all on the edge of our seats. Speaking of being on the edge of our seats :
🐸 $PEPE's Mind-Blowing Memecoin Madness !
Prepare to dive into the absurd and captivating world of memecoins with PEPE, the latest sensation that has taken the crypto scene by storm. Here's what you need to know:
1. PEPE is the most traded crypto on decentralized exchanges (DEXs) in the past 24 hours, surpassing major trading pairs like USDT ↔️ ETH. Talk about making waves!
2. A single holder boasts a mind-boggling 2.9 quadrillion $PEPE, worth a jaw-dropping $3.7 million. It's a wild ride that defies logic!
3. The Google search trend for "pepecoin" skyrocketed from 3 to a perfect 100, proving that the world can't get enough of this memecoin madness.
4. In the past 24 hours alone, PEPE's trading volume reached a staggering $393 million, surpassing big players like DOGE, SHIB, MATIC, and SOL. This memecoin is making its mark!
5. The number of PEPE hodlers has skyrocketed by over 1,100% in just 24 hours, with a staggering 72,618 holders joining the PEPE frenzy. The community is growing at an astonishing pace!
PEPE's rise in popularity is nothing short of extraordinary, making waves in the memecoin and larger crypto market.
Waves 🌊 ; rising & crashing … JP Morgan 📈 & First Republic Bank 📉…
JP Morgan Takeover, First Republic Bank Collapse
Picture this: First Republic Bank, once a symbol of stability, now crumbles beneath the weight of its own demise.
Following in the footsteps of Silicon Valley Bank and crypto-friendly Signature Bank, First Republic finds itself drowning in a sea of troubles.
Its shares plunge by a jaw-dropping 75% in a single week, leaving financial circles stunned.
To add insult to injury, customers hastily withdraw a staggering $100 billion in deposits, plunging the bank into an abyss of despair.
With a devaluation of 97% since January, it's safe to say this ship has hit some treacherous waters.
But fear not! In storms the heroic JP Morgan Chase, ready to take charge of the chaos.
The Federal Deposit Insurance Corporation (FDIC) gives the green light as JP Morgan confidently swoops in to assume control. They fearlessly snatch up all deposits, both insured and uninsured, along with almost every single asset of the fallen bank.
Talk about a power move! JP Morgan reveals its cunning plan.
They choose to cherry-pick the juiciest assets, snatching up a colossal $173 billion in loans and $30 billion in securities.
Not to mention, they get their hands on a jaw-dropping $92 billion in deposits!
However, they cleverly steer clear of the bank's corporate debt and preferred stock.
Looks like JP Morgan knows how to play the game to their advantage. JP Morgan announces the resurrection of First Republic Bank's 84 branches across eight states.
We understand the interconnected nature of the markets and the potential ripple effect these events can have on our beloved realm of digital assets.
Opportunities and challenges lie ahead, my friends. In times of chaos, innovation thrives, and we're here to guide you through the storm.
Stay tuned for more thrilling updates as we navigate through this tempestuous sea of finance.
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.