TOP 5 Losers Coins

| Indices | LTP | Change (%) | | --- | --- | --- | | Ethena | $0.8745 | 21.86% | | Wormhole | $0.927 | 20.36% | | Dogwifhat | $3.21 | 17.78% | | Jupiter | $1.29 | 17.48% | | Core | $2.45 | 13.82% |

Key Points on Recent Crypto News:

• Legal action was taken by Google against two Chinese nationals in New York Federal Court for distributing 87 fraudulent crypto apps on Google Play Store. This raised concerns due to the lack of an agreement between the US and China on tackling such fraud, emphasizing the importance of caution in the crypto industry.
• Charles Hoskinson, the founder of Cardano, expressed dissatisfaction with Grayscale's decision to remove ADA from its GDLC portfolio, highlighting Wall Street's influence in the crypto market. Grayscale's portfolio reshuffling, which involved selling ADA and investing in other assets, signals changes in the crypto investment landscape.
• Ethena Labs announced plans to support its USDe synthetic dollar with Bitcoin, sparking concerns about potential market instability. CryptoQuant CEO Ki Young Ju warned of risks similar to the Terra-LUNA crisis, emphasizing challenges in maintaining stability, especially in bear markets. Ethena's strategy of scaling USDe with Bitcoin may attract users with high yields but poses risks to market dynamics.
• Gabor Gurbacs of VanEck urged policymakers to address discriminatory actions by US banks against crypto firms, echoing concerns raised by Caitlin Long. The situation was compared to "Operation Chokepoint 2.0," emphasizing the need for accountability. The ongoing legal battle between Custodia Bank and the Federal Reserve reflects the tensions between traditional banks and crypto entities.
• Hong Kong is making strides in becoming a digital asset hub by licensing crypto trading platforms and investing in projects like Inkeverse. Discussions on stablecoins and collaboration among asset managers for a spot Bitcoin ETF indicate growing interest and innovation in the city's financial sector.
• Cboe Global Markets is seeking SEC approval to allow mutual funds exposure to ETF share classes, potentially integrating Bitcoin into the mutual fund industry. This move is expected to streamline processes for issuers and increase the availability and assets of ETFs. Other key players, including Vanguard, Morgan Stanley, Fidelity, and Dimensional Fund Advisors, are also exploring similar models.
• Billionaire Elon Musk plans to deploy his advanced AI chatbot, Grok AI, in the European Union following its successful launch. Grok 2 promises superior performance to existing models, with Musk contemplating global expansion. Additionally, Musk hints at incorporating AI into his social media platform, X, to enhance user engagement.

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