BRETT memecoin market cap reaches $1 billion
The memecoin has a market cap of more than $1 billion.
This rapid rise is remarkable when compared with other memecoins. Dogecoin, for example ( DOGE), took many years to reach the same milestone.
Matt Furie created BRETT, an original character in the Boy’s Club Series. Matt Furie also created Pepe, the famous cartoon which inspired the PEPE memecoin and the popular Pepe meme.
This isn’t the pre-game warm up. Crash, a BRETT trader, said: “We are still in the locker room before game for Brett.”
The investment in BRETT is indicative of a sustained and current interest in the market for memecoins. This interest will likely fuel the growth and development of the market.
Factors fueling BRETT’s growth
This spring, BRETT has achieved many milestones with growing momentum. Notable was BRETT’s listing on the Seamless Protocol – a well known DeFi protocol used for lending and borrowing at Base.
Base is Coinbase’s Ethereum Layer 2 blockchain (L2). The listing increased BRETT’s visibility, which led to the market cap of the memecoin growing.
BRETT has also benefited from the positive sentiment in the crypto market. The introduction of Dogecoin futures on Coinbase Derivatives and the approval of crypto ETFs have all helped to create a favorable climate for BRETT.
MicroStrategy will pay $40m to settle tax evasion charges
Michael Saylor, CEO of MicroStrategy and Bitcoin enthusiast, has signed the largest tax settlement in Washington D.C. history.
The Washington Post reports that Michael Saylor, a Bitcoin ( BTC) advocate and his software firm MicroStrategy have reached an agreement with the state for a payment package of $40 million to settle a lawsuit involving tax evasion.
The case of Attorney General Brian L. Schwalb was centered on Saylor’s tax returns and residency between 2005 and 2020. Although Saylor claimed to live in Florida, city lawyers had reason for believing he was living in a luxury apartment or on yachts in the District of Columbia.
According to the terms of the settlement agreement, both MicroStraegy & Saylor denied any tax evasion.
Michael Saylor’s Ether ETF Prediction Nulled
Saylor’s tax debacle is the result of disputed claims by the mysterious Bitcoin believers. MicroStrategy founder said to an audience in early last month that the U.S. SEC will deny spot Ethereum ETFs ( , ETH).
Saylor’s statement was a result of the lack of clarity surrounding the securities status for cryptocurrencies. According to the CEO, altcoins such as Cardano ( ADA), Ethereum and Solana( SOL), are unregistered securities. Gary Gensler, the SEC chair, made similar arguments.
Gensler may have refrained from making a definitive statement, but the commissioner insists that the majority of cryptocurrencies are covered by existing financial laws and digital asset providers run illegal businesses if they do not register with the regulator.
The SEC announced its first round of ETH ETTF approvals, just weeks after Saylor made his statement on stage. Experts have described the “shifting political winds” as the reason why Ether-backed products are likely to be traded on national exchanges by the fourth quarter of the year.
Analysts such as Bloomberg’s Eric Balchunas, James Seyffart and James Seyffart noted that issuers had removed all staking languages from updated filings and S-1 forms are still under review.
The updates have fuelled speculation about the regulator’s views on Ethereum as an Ethereum blockchain that runs under the Proof-of-Stake consensus model, and whether or not the SEC will recognize crypto staking ever as a non security instrument.
