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Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. Kyle Davies Unapologetic Amid 3AC Collapse Drama: Kyle Davies, co-founder of Three Arrows Capital (3AC), displays a lack of remorse for the firm's collapse during a podcast appearance. Despite facing criticism and legal woes, Davies remains unapologetic and announces the launch of a new venture, OPNX.

2. Slerfsol Bounces Back After $10M Burn Mishap: Slerfsol (SLERF), a Solana-based memecoin, recovers remarkably after accidentally burning over $10 million worth of Solana during its presale. The project garners community support, with appeals for donations to compensate affected investors, and receives backing from cryptocurrency exchanges like BingX and HTX.

3. Immutable and Polygon Launch $100M Gaming Fund: Immutable and Polygon introduce a $100 million fund, "Inevitable Games Fund," to support blockchain gaming projects. Led by King River Capital, the fund aims to invest in seven native blockchain games, signaling a significant milestone in blockchain gaming's potential to transform the gaming industry.

4. Saudi Arabia Eyes $40B AI Investment Fund with a16z Partnership: Saudi Arabia considers establishing a $40 billion investment fund in partnership with Andreessen Horowitz (a16z) to advance artificial intelligence (AI) initiatives.

5. 💡Feature of the Day - BlackRock Ventures into Tokenized Assets with Digital Liquidity Fund: BlackRock files for the creation of its first tokenized asset fund, the BlackRock USD Institutional Digital Liquidity Fund, in collaboration with Securitize.

6. 🫨 What’s Buzzing? - Do you love airdrops as much as we do? Here’s UseTheBitcoin’s article “Grass Airdrop Guide: Turn Your Unused Bandwith Into Cash!” that lets you earn “passive income” by sharing unused internet bandwidth.

7. TA of the Day! - To Celebrate The Soft Launch UseTheBitcoin.com’s YouTube Channel Technical Analyst, and Trading Expert Ray Zean Predicts Bitcoin's Price Movements. He outlines two strategies for market entry: "Investing Mode" suggests potential buys in the golden zone between $58,000 - $62,000, while "Trading Mode" recommends watching for a breakout above $68,900 for short-term gains.

   
   All this and more in today’s headlines!

📰 News Highlights:

🛑 Kyle Davies Unapologetic [Source]

Kyle Davies, co-founder of the now-defunct Three Arrows Capital (3AC), showcased a lack of remorse for the firm's creditors during a recent podcast appearance. Despite facing backlash for 3AC's collapse and the loss of billions in investor funds, Davies expressed little contrition and even joked about the bankruptcy.

In the Unchained Podcast episode on March 19, Davies brushed off questions about his remorse, stating, "Am I sorry for a company going bankrupt? No." He remained defiant about his professional reputation, asserting that bankruptcy is a common occurrence in the business world.

Davies revealed plans to evade potential jail time in Singapore, claiming to be residing in Europe. His whereabouts have been a subject of speculation, with conflicting reports about his location.

Despite legal woes and frozen assets totaling $1.14 billion, Davies remains unapologetic, signaling a turbulent road ahead for the embattled entrepreneur.

🔥 Slerfsol Bounces Back After $10M Burn Mishap [Source][Source][Source]

Slerfsol (SLERF), a Solana-based memecoin, has defied odds with a remarkable recovery following a disastrous token burn incident during its presale. Despite mistakenly burning over $10 million worth of Solana, the project garnered overwhelming community support, propelling its market cap past $500 million.

SLERF's creator, in a bid to rectify the blunder, appealed for donations from users affected by the mishap. The response was overwhelmingly positive, with significant contributions pouring in to compensate affected investors.

Cryptocurrency exchanges like BingX and HTX have also stepped up to support SLERF, offering to donate trading fees and allocate funds to impacted participants.

💰 Immutable and Polygon $100M Gaming Fund [Source][Source]

Immutable, in collaboration with Polygon, has unveiled a $100 million fund to fuel the growth of blockchain games. The "Inevitable Games Fund" aims to invest in seven native blockchain games, with contributions from prominent investors and venture capital firms.

Led by King River Capital, the fund marks a significant milestone in the convergence of gaming and blockchain technology.

Pixelmon initially raised $70 million and its following February 2022 art reveal was received so badly that many accused the project of being a rug pull. Despite the allegations, Pixelmon is one among the supported titles. The fund's launch signals a new era of innovation and opportunity for blockchain gaming projects.

💡 Saudi Arabia Eyes $40B AI Investment Fund with a16z Partnership [Source]

Saudi Arabia is considering a bold move to establish a $40 billion investment fund dedicated to artificial intelligence (AI) initiatives. Collaborating with Silicon Valley venture capital firm Andreessen Horowitz (a16z), the fund aims to position the kingdom as a global leader in AI innovation.

With discussions ongoing and plans subject to change, the fund's launch could signal a transformative shift in the global AI landscape, positioning Saudi Arabia at the forefront of technological innovation.

💡 Feature of the Day: 

💼 BlackRock Ventures into Tokenized Assets [Source][Source]

BlackRock, the world's largest asset manager, has filed for the creation of its first tokenized asset fund, signaling a bold move into the digital asset space. The BlackRock USD Institutional Digital Liquidity Fund seeks to leverage blockchain technology for streamlined asset management and enhanced liquidity.

Partnering with Securitize, BlackRock aims to tokenize the fund on the Ethereum blockchain, offering investors unprecedented accessibility and transparency. CEO Larry Fink heralded the initiative as a step toward a future of seamless settlement and reduced illicit activities in financial markets.

With Securitize's expertise and a growing interest in tokenized assets, BlackRock's entry into the digital asset realm marks a significant milestone in the evolution of traditional finance.

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🫨 What’s Buzzing?:

🌱 Grass Airdrop Guide: Turn Your Unused Bandwidth Into Cash!

🔍 What Is Grass?

Grass is a new app from Wynd Labs that lets you earn “passive income” by sharing unused internet bandwidth. It’s a fresh take on how users can benefit from their day-to-day internet usage.

In technical terms, Grass uses blockchain technology to operate as an Artificial Intelligence (AI) network. It enables companies to harness users’ unused bandwidth while protecting their data. This is achieved by developing an AI tool specifically trained to scrape web data from the Internet, which is subsequently curated by Grass utilizing its network of nodes.

🔒 Is Grass Safe?

The platform will gather the user’s unused bandwidth upon creating a Grass account and providing consent.

Developers clarify that when the Grass extension requests permission to “read and change all your data on the websites you visit,” it is a standard authorization protocol, ensuring that the network will not access your data.

The only information Grass receives is the user’s email address, which is used to create an account.

“When you use the app, your personal data is not accessed or utilized by Grass or Wynd Network. Period. Our browser extension does not have access to any data on your computer. You can confidently use Grass, knowing your personal data is safe and secure.”

Furthermore, Grass prioritizes your security. Companies buying your unused bandwidth are carefully monitored to prevent any fraudulent activity.

“All buyers are vetted and monitored, ensuring no misuse or illegal activity. Grass only uses up to 0.3% of your bandwidth at any time and will not affect your internet speed as it functions only when you’re not using your full bandwidth.”

🎈 Read the whole airdrop guide from UseTheBitcoin’s latest article “Grass Airdrop Guide: Turn Your Unused Bandwith Into Cash!”

📈 TA of the day! (We launched a YouTube Channel)

In the very first episode of the UseTheBitcoin.com Market Update, Professional Trader Ray Zean discusses the latest news and updates about Bitcoin price.

Bitcoin’s Price Drops After Hitting All-Time High This 2024

• Bitcoin experienced a 13%-14% loss, soon after it reached a new all-time high. 

• That price movement is equating to approximately $1B loss in crypto assets. 

• The reason for this drop is that people are taking profits. 

Two Options You Can Consider Before Entering the Market

Investing Mode

• Retracement in Bitcoin prices can be an opportunity for you to position yourself at a better price. 

• The higher time frame of Bitcoin’s price tells us that it is still in an uptrend. 

• Using the Fibonacci retracement tool, we can see that if Bitcoin's price retraces it could bounce on its golden zone, around $58,000 - $62,000. You can position yourself at those levels. 

• If Bitcoin, breaks below the golden zone, it is an indicator that Bitcoin can go deeper. 

Trading Mode

• This approach will fit those who trade in a lower timeframe. 

• Looking at the 4hr chart, Bitcoin is now consolidating at around $64,000 - $68,000. 

• You need to wait for a breakout. If Bitcoin breaks above the $68,900 level then there is a high potential that Bitcoin will revisit its all-time high or around $70,000 levels.

• Place your cutloss when the price enters the golden box again. It means a failed breakout.

Final Thoughts

Trading is very risky, there is no assurance even with technical analysis. Always remember to invest what you can afford to lose and always do your own research. 

😂 Crypto Meme of the Day: 

And that’s it for this today.

As we roll out with the soft launch on our YouTube channel please consider liking the video and subscribing to the channel, it’s free and will help us grow as a community.

See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com