"Negative Sentiment Persists, Causing $795 Million in Institutional Fund Exits from Cryptocurrency Products: Report by CoinShares"
Crypto Shenanigans
Navigate the blockchain world with us as we delve into the latest happenings! Cryptocurrencies, Bitcoin, Ethereum, Altcoins, and more — we've got you covered.
What's the Lowdown?
Institutional investors are shaking things up in the crypto space, with President Trump's trade wars causing them to pull out billions of dollars from investment products, according to CoinShares' Digital Asset Fund Flows Weekly Report. Thousands of millions were withdrawn, effectively erasing over 90% of year-long inflows. Bitcoin was hit the hardest, with a whopping $751 million in outflows last week alone; Ethereum didn't fare much better, losing $37.6 million. Other cryptos like Solana, AAVE, and SUI also suffered losses, whereas XRP, Ondo, Algorand, and Avalanche saw minor inflows [1].
Industry Buzz
- Falcon Finance Launches Transparency Page [2]
- Solstice Labs Announces USX, a Solana-Native Stablecoin for Transparent Yield [2]
- Ika Secures Strategic Investment from Sui Foundation, Boosting Total Funding to Over $21 Million [2]
- BYDFi Becomes Official Sponsor of TOKEN2049 Dubai, MoonX On-Chain Trading Tool Makes Its Debut in the Middle East [2]
- BTSE Enterprise Solutions To Kick Off BTSE Broker API Hackathon in Dubai [2]
- Richard Heart Wins Court Case Against SEC [3]
- Huma Surcharges $4 Billion in Transactions Just Two Weeks After Launching 2.0 on Solana [3]
Speaking of Terrible Tariffs
With President Trump's tariffs causing havoc in the crypto world, users have taken to social media to express their frustration. Here are some of the meanest memes directly targeting the trade war:
- "When Iran says 'death to America' and the market tanks" This meme plays on the widespread fear of President Trump's trade tariffs, comparing the Iranian death threat to a tanking market after the announcement of higher tariffs.
- "What have you done...?" A grim reminder of the consequences of President Trump's dubious policies, this meme depicts the Grim Reaper, representing the impending doom caused by tariffs, asking "What have you done?"
- "The millennial itch gets worse after a Trump tariff tweet, so I open my E-Trade account again" Pointing out the irony of inexperienced investors being enticed to invest in the stock market due to volatility caused by President Trump's impulsive tariff tweets, this meme shows the millennial itch increasing after each tweet.
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Disclaimer: Opinions expressed in this article are not financial advice. You should always do your own research before investing in crypto.
Generated Image: Midjourney
References:[1] Data from CoinShares' Digital Asset Fund Flows Weekly Report[2] Industry Buzz from iCryptonews[3] Market data from CoinMarketCap, Reuters
- Institutional investors' withdrawal of funds from investment products due to President Trump's trade wars has led to significant outflows in cryptocurrencies, with Bitcoin seeing a massive $751 million in outflows last week alone, and Ethereum losing $37.6 million.
- The altcoin sector has also been impacted, with Solana, AAVE, and SUI suffering losses, while XRP, Ondo, Algorand, and Avalanche saw minor inflows.
- It's important for investors to seek advice and conduct thorough research before investing in cryptocurrency, as the market can be quite volatile.
- In other news, the Solstice Labs has announced USX, a Solana-Native stablecoin for transparent yield, while Falcon Finance has launched a transparency page.
- The crypto market is dynamic, and events such as President Trump's tariffs can have a significant impact on crypto prices, making it essential for investors to stay informed and adapt their strategies accordingly.
