Crypto markets are still grinding sideways, however ETH is leading over Bitcoin. Bitcoin is still in the $21k region and ETH has now popped up into the $1700s. An interesting observation to keep in mind is 2 CEOs stepping down during a time of unprecedented lawsuits and financial losses. Coincidence? Are they stepping down at the bottom or is there something else we don’t know?
⛓ Crypto News:
- Sam Trabucco has resigned as co-CEO of Alameda Research. He will continue on as an advisor and Caroline Ellison will continue as sole CEO
- Genesis Trading CEO steps down
- Bug bounty quadruples for white hats testing the Ethereum network - up to $1M payouts ahead of Merge
- Coinbase is launching its own liquid staking token, called cbETH, ahead of Ethereum's Merge and aims to cut into Lido's dominance
- The Block is moving parts of its consumer paywall exclusively to a crypto token model
- A Netherlands court has ruled that developer, Alexey Pertsev, accused of facilitating money laundering via the now-sanctioned Tornado Cash, must stay in jail for at least a further 90 days
- Court approves Voyager Digital to pay $1.9M in retention bonuses to key staff members to ensure they can continue operating through bankruptcy proceedings
- The $74M plan by two former Uniswap Lab executives for a new Uniswap Foundation has passed after their proposal received over 99% of the votes from Uniswap holders
- Reddit has begun airdropping its Polygon-based “Collectible Avatars”
- The Graph adds Gnosis Chain to its decentralized blockchain indexing protocol
- Crypto ATM company Bitcoin Depot has struck a deal with an SPAC that should see it go public at an $885M valuation
- Coinbase eyes long-term growth of subscription revenue and NFTs are still a focus
- Binance Notice Regarding the Upcoming Ethereum Merge
- Binance assisted law enforcement in China to suspend some accounts because users received unlawful crypto, causing a huge panic in the Chinese community
- South Korean exchanges such as Upbit announced that deposits and withdrawals related to 16 overseas exchanges, including KuCoin, MEXC, Phemex, Bitrue, CoinW, CoinEX, AAX, ZoomEX, Poloniex are prohibited according to government requirements
- D/Bond created a new ERC-3475 standard to introduce bonds and add value to improve Ethereum’s existing infrastructure and ecosystem. It is now accepted by the Ethereum Foundation. Makes it possible to issue bonds with multiple redemption data
- Mercedes-Benz's strategic project Acentrik has now become operational on Polygon Mainnet as part of its official enterprise release
- The proposal to launch Compound III has succeeded; 200 addresses voted - 1,203,196 COMP in support
- Ribbon Earn is Live
- Alchemy, a web3 infrastructure platform backed by a16z, Coatue and Lightspeed Ventures, has announced its first acquisition, Ethereum developer education platform ChainShot
- Thailand’s oldest bank SCB has abandoned its planned $500M deal to buy crypto exchange Bitkub, citing regulatory issues
- Afghan authorities shut down 16 crypto exchanges in one week
- Sui Full Node & Validator Selection Announcement
- Radiant is going cross-chain with BNB Chain launch
- Trident live on Metis
- Final winners of Starknet House Hackathon
- Key facts on the Safe Token (SAFE) distribution and initial voting power / circulating supply
- O3 Swap V2 bug bounty program is live on Immunefi
- MagicSwap is now live. Built for the TreasureDAO gaming ecosystem and led by the community
- Early Rubicon traders and liquidity providers can now claim an OP airdrop on the Rubicon App
- Paribus is now live on Arbitrum, Polygon & Milkomeda through the partnership with Multichain
📊 Data:
- Nansen Smart Money Holdings Token Inflow and Outflows: Tracking what the whales are up to...
- Inflow: USDC ($13.2M), aDAI_v2 ($1.4M), USDT ($1.4M), MATIC ($885k), aLINK_v2 ($398k)
- Outflow: WBTC ($11.9M), WETH ($9.7M), BADGER ($6.8M), SHIB ($1.4M), APE ($542k)
- Nansen NFT Hot Contracts:
- BAYC: 1589 ETH
- EZU: 1304 ETH
- MAYC: 542 ETH
- Otherdeed: 359 ETH
- ENS: 295 ETH
🎓 Research:
- Bankless - Is the Merge Overhyped? A rational case for why the Ethereum Merge might be overhyped - source
- Pantera Capital - Ethereum Tightening More Than Fed - source
- The Trust Model of Blockchains: How Full Nodes Keep Block Producers Accountable - source
- State of StarkWare - source
- Decentralized Social Media: The Future of Connections or an Unnecessary Niche? - source
- The Endgame of Web3 Gaming - source
- Galaxy Digital - A Survey of NFT Licenses: Facts & Fictions - source
- Paradigm - Variable Rate GDAs - source
- The Evolutionary History of Virtual Real Estate - source
- Why Fractionalize Virtual Land? Implications for virtual real estate - source
- Facts about web3 projects and their developers - source
- The most successful NFT projects of all time - source
🖼 NFTs/Metaverse News:
- Miley Cryus is gearing up for Web3 after filing two metaverse and NFT trademarks relating to the words “Miley” and “Miley Cryus” with the United States Patent and Trademark Office
- Neopets Meta, the web3 spin-off of the classic early noughties virtual pets online game, will launch the alpha version of its metaverse on Friday
- Global confectionery giant Mars has teamed up with virtual metaverse band KINGSHIP to create limited edition NFT boxes of M&M’s featuring content from the Bored Ape Yacht Club
- Baby Shark creators announce second NFT drop. The do-do-do-do-drop will take place at the end of August
- The 4K Protocol, a Web3 project that bridges real-world assets to NFTs, has partnered with DeFi lending platform Arcade to launch loans against physically backed luxury watch NFTs
- Lithium Finance has partnered with Cyan, the buy-now-pay-later platform for bluechip NFTs
🌍 Crypto Twitterverse:
📈 Fundraises:
- Cyberstarts raises $60M for seed investments
- Polygon and Cere Network founders launch $50M web3 fund, Symbolic Capital
- Haun Ventures has led a $24M round into web3 developer platform Thirdweb, at a valuation of $160M
- Crypto-native chat Comm raised $5M in a seed funding round led by CoinFund
- Mellow Protocol closed a $2.75M seed round led by Robot Ventures, Arrington Capital, and ParaFi
- Cricinshots closed a seed round to be one of the frontrunners for enjoyable and sustainable Web3 games
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