Dog Coins in the News

Good morning. Today in the CT5, we've got coverage on bitcoin in 401(k)s, SHIB's burning portal, a newly licensed exchange in Abu Dhabi, and more!

Summer Vacation: the CT5 will be off starting Friday, April 29th through Friday, May 13th.

Market Update (as of 8:12am ET):

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Top 5:

1. Fidelity to allow retirement savers to put bitcoin in 401(k) accounts. Fidelity will become the first major retirement provider to allow investors to put bitcoin in their 401(k) accounts. The new policy will go live later this year and allow more than 23,000 companies to offer employees the option to include bitcoin in their retirement savings. Fidelity will allow investors to allocate as much as 20% of their savings to bitcoin, while providing companies the option to lower this threshold. According to the Wall Street Journal, Fidelity "administers plans with more than 20 million participants and $2.7 trillion in assets-under-administration."

2. NFTs stolen after Bored Ape Yacht Club Instagram, Discord hacked. Bored Ape Yacht Club's Instagram account and Discord server were both hacked on Monday, with an unofficial link being sent out to mint land in the the upcoming OthersideMeta metaverse, which is due to launch later this week. NFTs were transferred from the wallets of users that clicked on the link. According to Yuga Labs, "rough estimated losses due to the scam are 4 Bored Apes, 6 Mutant Apes, and 3 BAKC, as well as assorted other NFTs estimated at a total value of ~$3m."

3. Abu Dhabi grants Kraken license to operate crypto exchange. The exchange has become the first crypto exchange to be granted a license to operate a regulated digital assets platform in Abu Dhabi as the Middle East becomes a focus of expansion for the industry. Kraken will count Abu Dhabi as its regional hub, having had its license granted by the Abu Dhabi Global Market (ADGM) and will allow its more than 8 million global users to invest, trade, withdraw and deposit virtual assets directly in dirhams.

4. Shiba Inu launches ‘Burning Portal’ to reward SHIB token holders. The so-called burning portal is designed to reduce the circulating supply of SHIB and to reward holders with yield-generating tokens. Users who decide to burn their SHIB tokens will receive another token called burntSHIB, which pays rewards in RYOSHI tokens. RYOSHI tokens were launched by Ryoshi Vision in parallel to the burn portal and purport to support the growth of the SHIB ecosystem.

5. Dogecoin jumps more than 20% after Twitter agrees to Elon Musk’s buyout deal. The price of dogecoin popped on Monday afternoon following news that Twitter has accepted Elon Musk’s buyout deal. The original meme-coin shot up as much as ~27% after the announcement with users speculating that tipping and other forms of payment using the currency could be enabled on the site. Musk became a Dogecoin market mover last year with his tweets that indicated his support for the currency.

Updates and other stories:
- Mexico plans a retail CBDC by 2025...Read More
- Postmates founder Bastian Lehmann set to launch crypto startup...Read More
- Mad Realities raises $6 million to create decentralized media...Read More

Top Sharers of the Crypto Top 5:
1. Donna Y. - Nashville, TN
2. Jake Y. - Greenville, SC
3. Forrest H. - Evansville, IN

External Resources:
1. Cryptopedia from Gemini - if you see a word, acronym, or phrase in this newsletter that you don't understand, there's a good chance you can find an explanation here
2. Crypto Explainer+ - intro level courses on Bitcoin, Ethereum, decentralized finance, NFTs, and more
3. Crypto Jobs! - looking for a new job? Check out this page from Anthony Pompliano with hundreds, if not thousands of listings

Disclaimer: The information contained in this newsletter shall not be understood or construed as financial advice. I am not an attorney, accountant, or financial advisor, nor am I holding myself out to be, and the information provided is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation.