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BULLS, BUYBACKS, AND A BLIND SPOT

This week a $70M ETH buy landed on a stock that is already down for the year, a Bitcoin sale got framed as a bullish signal, and a new Binance report shows where the smart money is actually parking its cash. Here is what moved crypto this week.

📰 TOP STORIES THIS WEEK

Binance report: 30% of users now hold most of their money in stablecoins

A new Binance Research report found that 30% of users hold more than half their portfolio in stablecoins, up from just 4% in 2020. In places with runaway inflation, people paid a 62% premium above the official exchange rate just to get their hands on them. The report's line says it best, stablecoins are now where capital settles rather than where it passes through. TradFi linked perpetuals also crossed $1.1 trillion, and Latin America's share of stablecoin transfers more than doubled in a year.

 Bitmine buys another $70M in ETH, closing in on its 5% supply target

Lookonchain data shows Bitmine picked up 40,000 more ETH this week, a day after disclosing it already holds 5.74 million tokens. That puts the company close to its stated goal of owning 5% of Ethereum's total supply. The catch, its average cost basis sits near $3,008 per ETH, while the price is now closer to $1,752. Chairman Tom Lee is still bullish, pointing to Layer 2 payment growth and rising odds for the Clarity Act as reasons to keep buying. The stock dropped 4.8% on Tuesday.

Grayscale says Strategy's Bitcoin sale could actually help BTC find a bottom

Strategy sold 3,588 BTC for about $216 million to cover preferred stock dividends, its second sale in five weeks. Grayscale researcher Zach Pandl says that is not a bad sign; it removes the fear that Strategy could get cornered into an emergency sell-off later. Not everyone agrees; Ripple's Brad Garlinghouse has criticized the financing model, while CryptoQuant's Julio Moreno warned a rapid sale could hurt shareholder value. Bitcoin dipped to $61,275 after the news, then bounced back near $64,000 on rising volume.

Universities are treating AI as a cheating problem, and it's costing graduates

A new study from the University of Manchester argues that schools have narrowed their whole AI response down to catching cheaters, while ignoring what AI actually means for the jobs graduates are walking into. Surveys show over 80% of students already use generative AI for schoolwork, yet most institutions still have no real governance in place. The researcher's proposed fix, teach students to critically question what AI gets wrong instead of just banning it or detecting it.

📈 TOP GAINERS & LOSERS

🚀 Top Gainers of the Week

📉 Top Losers of the Week

📘 EDUCATIONAL PICK — LEARN & LEVEL UP

🐦 TWEETS OF THE WEEK

FOLLOW OUR SOCIAL MEDIA:

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Disclaimer: We're here to entertain, not to be your financial guru. This newsletter is purely for educational purposes and does not constitute financial advice or a magical fortune-telling session. So, grab your popcorn, enjoy the read, but remember to use your own wits and conduct thorough research before making any money moves. Stay curious, my friend!