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Musk wages war on Altman as Worldcoin accused of FTX-style predatory tokenomics
State Street is building a tokenized fund infrastructure in Luxembourg. Yes, it's the same bank that holds a chunk of every pension fund you've ever heard of.
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The crypto market dropped 20% in Q1. Not everyone made it out clean.
But here's the thing: the losses tell only half the story.
Traditional finance keeps building while everyone else licks their wounds.
Meanwhile, consumer sentiment just hit an all-time low, and inflation fears are spiking.
Today's stories show an industry caught between pain and conviction.
Worldcoin accused of FTX-style predatory tokenomics as Musk-Altman war heats up
ZachXBT says Worldcoin launched $WLD with a predatory low float comparable to SBF's FTX-era tokens.
He alleges the project exploited people in low-income countries for biometric data.
Worse, instead of securing human verification, it ends up fueling a black market for verified accounts.
When crypto's most feared on-chain sleuth rides a Musk tweet into your mentions with receipts, it's probably not a great day at Worldcoin HQ.
Markets
Macro headwinds and Galaxy Digital’s Q1 net loss
Bitcoin touched $79K earlier this week but couldn't hold it.
Consumer sentiment hit a record low of 49.8, with one-year inflation expectations jumping to 4.8%.
That complicates any Fed pivot, keeping risk assets on a short leash.
Into that backdrop, Galaxy Digital dropped its Q1 report. Novogratz's crypto empire posted a $216M net loss as unrealized markdowns did most of the damage.
BTC slipped near $76K, ETH held flat around $2,275, and SOL drifted lower toward $83.
State Street to launch tokenized fund servicing from Luxembourg by year-end
State Street is bringing issuance, custody, and administration to digitally native funds.
The $44T custodian will deliver the capability through its Investment Services division.
When a firm that big builds tokenization infrastructure, it stops being an experiment.
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ICYMI
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Catch you in the next one.
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