The Daily Crypto Brief!
Bitcoin Breaks Records Again👀
GM readers! Cryptocappy is here to deliver the latest updates from crypto world.
Bitcoin Surges to Record High Amid Trump’s Renewed Call for Rate Cuts
Bitcoin hit another record high on Thursday, climbing for the second day in a row. Former President Trump called on the Federal Reserve to cut interest rates, pointing to the booming crypto and stock markets.
Meanwhile, meme coins like DOGE and PENGU are exploding. PENGU is leading the pack today among the top 100 cryptos. Solana-based tokens like BONK, WIF, and even the cheeky FARTCOIN are also seeing big gains.
US Treasury Removes Disputed Crypto Tax Reporting Rule
The US Treasury has decided to cancel a debated crypto tax rule called TD 10021. If it had gone into effect, it would've forced DeFi platforms to follow strict reporting rules that could've hurt the US crypto space.
$42M Gone in a Flash: GMX Faces Suspected Exploit, DeBank reports
Crypto exchange GMX may have suffered a major breach, with $42M drained from its vaults. The funds were funneled to a single wallet and bridged from Arbitrum to Ethereum—typical hacker moves to cover tracks. PeckShield reports $9.6M already shifted. GMX hasn’t confirmed the exploit yet, and its token plunged to $12.51. One of the biggest DeFi hacks this year adds pressure on cross-chain security.
Snoop Dogg’s Telegram NFT Collection Sells Out in Just 30 Minutes
Nearly 1 million NFTs inspired by Snoop Dogg were snapped up in under half an hour, Telegram founder Pavel Durov shared. The drop made millions and showed off Telegram’s new blockchain tools built right into the app.
Experts say the launch was a hit with Telegram’s crypto-loving crowd. Durov added that more features—like NFT minting and a resale marketplace—will go live on Telegram in just three weeks.
Truth Social Launches ‘Gems’ Feature Tied to Utility Token
Truth Social just announced a new feature that might reward users with crypto linked “gems.” People testing Truth+, its new paid video service, will earn gems based on how active they are.
These digital rewards could be connected to a utility token used across Truth Social and the video platform. The app now trades publicly under the symbol $DJT, but no date has been shared for when the gem or token system will fully launch.
That’s a wrap for today. Catch you tomorrow with more updates. Have a great day!
