Spencer Ventures Daily Newsletter May 15th-20th

Apologies for the break in newsletters - another one will be sent later today to get us back on track!

• Markets Rally As Bitcoin Reaches New All-Time High

  S&P 500 extends V-shape recovery while Bitcoin marks new high over $109K

• U.S. and Russia Look To Make Large-Scale Deal

  Global powerhouses begin talks on major deal as tensions ease slightly

• Moody’s Downgrades U.S. Credit Rating For First Time in History

  Rising debt fuels downgrade of U.S. credit rating amid mounting concerns

• U.S. and China Hope To Avoid Escalating Tensions

  China responds to recent U.S. actions and advises a change in approach

• Gold Sees Strong Reversal As Recession Odds Fall

  Recession odds fall to 38% as gold surprisingly rises amid strong U.S. market

• 30-Year Mortgage Rates Hit Highest Level in 25 years

  Average 30-year mortgage rates now sit at 7.4% for highest level in decades

• U.S. Credit Card Delinquency Hits Highest Level in 14 Years

  Over 12% of credit card balances in the U.S. are now unpaid for over 3 months

• Treasury Secretary Says U.S. Is Involved In Several Types of Deals

  Scott Bessent says current U.S. talks include deals on peace, trade, & taxes

• Japan Struggles As 40-Year Bond Yield Hits All-Time High

  Bond yields in Japan continue to skyrocket as their 40-year reaches 3.6%

• Oil Prices Soar Amid Reports of Conflict Between Israel & Iran

  Demand for oil jumps as reports say Israel is now planning an attack on Iran

• Worries Rise Over Increasing U.S. Bond Yields

  Bond yields see highest level since November 2023 amid market uncertainty

• U.S. Senate Passes Cloture Vote For Genius Act

  U.S. moves closer to new stablecoin legislation as bill now moves to a final vote

• Circle Reportedly in Talks to Sell Stablecoin Business

  Circle explores informal talks with Coinbase and Ripple to sell USDC business

• ByBit Becomes First Exchange to Offer Stock Trading

  Bybit users can now trade stocks such as Apple, Amazon, & more using USDT

• Coinbase Reveals Massive Customer Data Breach

  Coinbase discloses major data breach exposing user info in targeted attack

• Zombie CryptoPunk Sells For Over $1M

  Punk #3609 gets sold for 440 ETH as the collection remains hot with big sales

• Texas Passes Strategic Bitcoin Reserve Bill

  Texas House passes second reading of bill to establish a state-run BTC reserve

• Strategy Purchases 7,390 Bitcoin For $765M

  Strategy continues large scale Bitcoin purchases to bring holdings over $33B

• Lil Pudgys Introduce Original TV Show on YouTube

  Lil Pudgys become their own stand alone brand as new YouTube series rolls out

• Argentina President Shuts Down Investigation Into Libra Scandal 

  Argentina ends Libra memecoin probe as President Milei calls the case baseless

• Strive Management Looks To Acquire $8B Bitcoin From Mt. Gox

  Vivek Ramaswamy & Strive hope to buy 75,000 BTC through discounted claims

• Solana’s Alpenglow Upgrade Hopes To Accelerate Transaction Speed

  The new proposal would potentially reduce block times from 13 seconds to 0.1

• Genesis Sues Digital Currency Group For $3.3B

  Major crypto lender looks to recover funds due to fraud, insider trading, & more

• Trump Executive Order Includes High Praise For Crypto

  Trump’s new EO on digital assets says crypto is “the next generation of finance”

• FTX To Distribute $5B To Creditors on May 30th

  Bankrupt crypto exchange announces another round of upcoming distributions

• Crypto Trader Makes Noise With $800M Bitcoin Long

  Popular trader reveals leverage Bitcoin long with liquidation price at $100K

• NYC Mayor Reveals Plans For Crypto Advisory Council

  Eric Adams announces new plan to form a crypto council during NYC Summit

• SEC Charges Unicoin With Fraud Over Token Claims

  Unicoin is charged with defrauding over 5,000 investors with misleading claims

• New Proposal Looks To Rename Bitcoin’s Base Units

  BIP 177 hopes to make 1 bitcoin = 1 satoshi as a way to reduce unit bias

• El Salvador Reaches $357M In Bitcoin Profits

  President Bukele reveals nation's BTC reserves are up $357M since inception

• Ripple CEO Calls Out Senator Lummis For Refusing Meeting

  Brad Garlinghouse says Lummis declined talks & apparently won’t reschedule

• Head of SEC Crypto Task Force Says NFTs & Royalties Aren’t Securities

  Hester Pierce says NFTs aren’t securities even if creators get paid over time

• Pudgy Penguins Partners with Random House for Children's Book

  The Worst Birthday Present Ever gets teased with top children’s book publisher

• Michael Saylor & Strategy Get Hit With Class Action Lawsuit

  The lawsuit accuses Saylor's firm of misleading investors on its Bitcoin holdings

• JPMorgan Chase Says Clients Will Soon Be Able To Buy Bitcoin

  Jamie Dimon says clients of the $4T asset manager will be able to buy Bitcoin

• DeFi Development Corp. Announces Partnership With BONK

  $DFDV stock jumps after company reveals popular memecoin partnership

• Vibes Concludes First Ever Championship of the Americas

  Vibes TCG wraps up in Hartford, CT as 138 players compete for $20K in prizes

• Pudgy Penguins Open Early Access To Pengu Clash

  Pengu Clash will be a telegram-based game where users can battle for prizes

• Vibes TCG Previews First Look At Set 2 Box Designs

  The release of Legend of the Lils gets closer with new preview of Set 2 boxes

• Boost Opens Checker Ahead of Long-Awaited TGE

  Alphabot users can now view season-end stats & see their $BOOST allocations

• Cookie DAO Introduces Snaps For Decentralized InfoFi

  Invites are slowly going out as users can earn rewards through new Kaito rival

• PumpFun To Give Out $1M For Content Ideas

  Users have until June 2nd to submit content ideas for part of a $1M prize pool

• TokenWorks Sells Out With New Funding Initiative

  256 NFTs get sold as users will be able to claw back investment at anytime

• Virtuals Makes Staking The Center of Point Rewards

  Agent staking goes live as users have until May 22nd to move tokens to staking

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