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Fed minutes dropped - and it’s not good vibes

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Plus: GameStop is now a Bitcoin maxi

Welcome

GM. We picked through the orchard of nonsense so you don’t have to. Here’s what’s ripe - and what’s rotting.

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🍍 Market flavor today

Fear and Greed Index
Find out more about the Fear & Greed Index here.

 Crypto Market Cap: $3.44T -0.03% (24H)
  Name   Price 24H 7D
Bitcoin Bitcoin BTC $107,452.54 -0.47% -2.96%
Ethereum Ethereum ETH $2,658.02 0.08% 0.68%
XRP XRP XRP $2.28 -0.05% -5.49%
BNB BNB BNB $681.69 -0.24% -0.35%
Solana Solana SOL $170.74 -0.94% -3.55%
Prices as of 09:00 AM EST. Click here to see live data.

The FOMC minutes came out yesterday.

These are the detailed notes from the Fed’s latest policy meeting - in this case, from May 6 - 7, when they decided to leave interest rates unchanged at 4.25% - 4.50%.

Traders dig into these notes to look for hints about what the Fed’s planning next - specifically, whether a rate cut is on the horizon.

(Because lower rates = bullish for crypto.)

So…are we getting one?

Hate to break it to ya, but it doesn't look like it.

Ryan Gosling going crazy

According to the minutes, Fed officials are worried about two things getting worse at the same time: inflation and unemployment.

That puts them in a tough spot:

  • If they cut rates to help the job market, inflation could rise;

  • If they raise rates to fight inflation, unemployment could rise.

A no-win scenario. So, they agreed that the safest thing to do now is to be cautious.

Translation: the Fed will probably keep rates the same when they meet again on June 17 - 18.

And yeah, the markets aren't thrilled about that.

Crying

On a more positive note, though, Nvidia’s Q1 earnings also came out yesterday - and they crushed it. Revenue and profits were both better than expected.

While that’s not directly tied to crypto, it still matters. Big wins in the tech sector tend to improve overall investor confidence. And when the mood’s good, major cryptos often ride that wave too.

Plus, it’s another W for AI, which feeds into the crypto + AI narrative.

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👀 Googling others? They’re Googling you too

Whitebridge.ai 05-27

Old accounts, forgotten tweets, weird photos - your digital trail is longer than you think.

Whitebridge.ai gives you the power to see what’s public and reclaim your online presence.

First impressions are made online, so make yours count!

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🥝 Memecoin harvest

Gains so loud even your ex noticed 📢

Data as of 03:45 AM EST.

Check out these memecoins and plenty more here.

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🍋 News drops

While you were busy touching grass, here’s what went down in the world:

🧊 Libra bags on ice

Circle froze two Solana wallets holding $58M in USDC, all tied to the team behind the Libra memecoin.

The freeze came after a US court gave the approval - and Argentina’s justice ministry was on board too.

🌐 Opera’s Neon browser is basically your AI intern

Opera dropped a new browser called Neon - and it doesn’t just browse.

With its AI-powered “Make” tool, you can build apps, games, and websites from a simple prompt (no coding required).

🐕 Elon Musk clocks out of DOGE duty

Elon Musk is officially out at DOGE, the government’s budget-cutting squad, as his 130-day term ends May 30.

He called the whole thing an “uphill battle”, especially after Republicans passed a tax bill that, according to him, made the deficit worse.

DOGE claims it saved $175 billion, but critics say the math is... optimistic at best.

🎮 GameStop goes full crypto mode

GameStop confirmed it bought 4,710 BTC.

It’s the first real step after announcing their Bitcoin goals back in March.

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🍌 Juicy memes

Going through phone and finding chart patterns and stock symbols

Source: @Trader_Theory

108K BTC last vs. this week

Source: @naiivememe

Trading Bitcoin is like Minesweeper

Source: @btc_charlie

Gode S. Web3 Market Analyst
Gode is a Web3 Market Analyst who researches the most important industry events and interprets how they affect the wider Web3 space. Her formal education in media culture & digital rhetoric allows her to employ a methodical approach to evaluating critical Web3 news data, including large-scale events and the wider social sentiment within the ecosystem.
Gode is a mutilingual professional, having studied in multiple universities all across Europe. This allows her to have a one-of-a-kind opportunity to analyze Web3 social sentiments spanning different cultures and languages and, in turn, develop a much deeper understanding of how the Web3 space is growing within different communities. With the rest of her team, Gode works to identify crucial crypto news patterns and provide unbiased and data-driven information.
Gode’s passions include working and communicating with people, and when she’s not researching Web3 news, she spends her time traveling and watching true crime documentaries.

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