Latest / Panic Drop Podcast / Fr 06/11 | Daily Crypto & Macro News

Transcript

Fr 06/11 | Daily Crypto & Macro News · Panic Drop Podcast

• 0:02
  SPEAKER_00: Happy Friday all, and what a rough session it was.
• 0:05
  SPEAKER_00: Bitcoin is trading around $75,700,
• 0:10
  SPEAKER_00: down about 6% in a day after it slipped under $77,000 and roughly $870 million
• 0:16
  SPEAKER_00: in leveraged cryptocurrencies. Capital positions got wiped out in a few hours.
• 0:20
  SPEAKER_00: Wall Street had an even uglier day,
• 0:23
  SPEAKER_00: with over $3 trillion erased from the US stock market,
• 0:27
  SPEAKER_00: the S&P 500 falling 4.4%,
• 0:31
  SPEAKER_00: its biggest drop since April 2025, the Dow down about 1,600 points,
• 0:37
  SPEAKER_00: and the Nasdaq sinking 5% into official correction territory,
• 0:42
  SPEAKER_00: about 11% below its October high.
• 0:45
  SPEAKER_00: The VIX jumped 70%, the third largest one day spike since 1990,
• 0:51
  SPEAKER_00: while Tesla sank about 9% and Nvidia
• 0:55
  SPEAKER_00: about 6.5% and SpaceX plus Tesla together lost
• 0:59
  SPEAKER_00: over 400 On the Bitcoin side,
• 1:05
  SPEAKER_00: Fidelity ETF clients sold about $200 million of coins,
• 1:10
  SPEAKER_00: but El Salvador still bought another one and now holds 7 ,827 Bitcoin.
• 1:16
  SPEAKER_00: Spot Bitcoin ETFs took
• 1:19
  SPEAKER_00: in about $75 million and strategy looks set to buy
• 1:23
  SPEAKER_00: about 279 more coins via its preferred stock.
• 1:28
  SPEAKER_00: Politics got louder too, with Elizabeth Warren expected to chair
• 1:32
  SPEAKER_00: the Senate Banking Committee,
• 1:33
  SPEAKER_00: while the White House reviews an SEC proposal to ease crypto broker rules
• 1:38
  SPEAKER_00: and hyperliquid files to bring perps to US customers.
• 1:43
  SPEAKER_00: The Bank of England hiked rates to 4%,
• 1:46
  SPEAKER_00: South Korea's stock market crashed 9% and halted trading,
• 1:51
  SPEAKER_00: and Japan's Nikkei slipped into a bear market.
• 1:54
  SPEAKER_00: In earnings, Cloudflare crushed it with revenue up 39% And % and raised guidance,
• 1:59
  SPEAKER_00: Airbnb beat and authorised a $12 billion buyback, and today Moderna, Humana,
• 2:07
  SPEAKER_00: Vistra & Charter report.
• 2:09
  SPEAKER_00: Over in altcoins Ethereum fell about 8 % to around $2 ,230.
• 2:17
  SPEAKER_00: Amundi launched a tokenized equity fund on Ethereum.
• 2:21
  SPEAKER_00: BlackRock bought about $53 million of Ether.
• 2:25
  SPEAKER_00: Samsung Wallet turned on USDC for 82 million Galaxy phones.
• 2:30
  SPEAKER_00: South Korea pushed crypto taxes to 2029.
• 2:34
  SPEAKER_00: And Solana Labs unveiled LEAP for tokenized stocks.
• 2:39
  SPEAKER_00: That's the wrap for today.
• 2:40
  SPEAKER_00: So if you enjoyed it, give me a follow and tune in again tomorrow.
• 2:47
  SPEAKER_01: Listen to the Panic Drop.
• 2:49
  [music]