Ethereum Classic and Optimism Lead Gains - What Will Miners do Post-Merge?
💊 M6 Daily Bullets 💊 Friday, July 29th
The crypto markets continue inching upwards with ETH leading over BTC. The bullish conditions have resulted in several mini narratives sprouting up recently such as discussion around Ethereum Classic and the fate of PoW ETC post merge, as well as Optimism - both of which have seen impressive gains over the past week. We also see continuation in the fallout of Voyager, Zipmex, Babel Finance, Celsius and CoinFLEX. Yuga Labs will now begin receiving a 5% royalty Meebits, Gary Vee’s VeeFrieds raises $50M from a16z, Arbitrum testing Nitro upgrade to be released within a few weeks, and Cardano's Vasil hard fork has been delayed again. Overall, we inch closer to the Merge with many market participants asking themselves what comes next?
⛓ Crypto News:
- The US Federal Reserve and the Federal Deposit Insurance Corporation issued a joint cease-and-desist letter to crypto firm Voyager Digital over 'false and misleading' insurance claims - source
- Cryptocurrency exchange Zipmex is seeking bankruptcy protection against legal action from creditors - source
- Babel Finance lost over $280M in proprietary trading with customer funds - source
- Chinese miners currently have three different opinions on Ethereum’s switch to POS. 1) Supports ETC, 2) forking POW ETH, 3) support for other POWs such as kadena starcoin aleo ckb and conflux. Nearly $5B of graphics card mining machines and ASIC Ethereum mining machines (A11 E9) that need to find a way to continue mining after Ethereum turns to POS - source
- Arbitrum has begun testing its Nitro upgrade and, assuming the test goes well, will implement it within a few weeks. The upgrade is designed to increase the number of transactions the network can process while lowering costs - source
- A Mercedes-Benz Group subsidiary, Daimler South East Asia, has partnered with Polygon to develop a data sharing system named Acentrik - source
- Cardano’s anticipated Vasil hard fork delayed again due to further testing - could be a few more weeks of delay - source
- Spice DAO - formed to buy Alejandro Jodorowsky's storyboard collection known as the "Dune Bible," plans to dissolve and pay out holders of the Spice token in ETH - source
- MultiDAO is coming - source
- ZED Token launches - source
- Introducing PowerAgent v2 Automation Network - source
- Introducing Dialect Creator Tools - The solution isn't fixing Discord. It's unbundling it - source
🖼 NFTs/Metaverse News:
- Omni X launches website and announces Omnichain NFT Marketplace Beta - powered by Layerzero Labs' omnichain protocol - source
- Miami plans to roll out an NFT collection with the help of Mastercard, Salesforce and Time - launch in December, after the Ethereum Merge. 5,000 NFTs designed by 56 local artists to represent the 56 square mile area of the city - source
- Yuga Labs Teased Upcoming Utility For Meebits and from now on will get a 5% royalty on secondary sales of Meebits (on OpenSea, LooksRare, etc) - source
- Professional English soccer team Crawley Town F.C. signs midfielder after community vote by fans and NFT holders who were recently given a voice on what type of player the team should recruit next - source
- Macro Hackathons, the first hackathon focused solely on pushing the frontier of what's possible with NFT Finance - source
- Gary Vee’s VeeFrieds Raises $50M in Seed Funding Led by a16 - source
- Reltime, a Layer 1, Proof of Authority Web3 ecosystem, Raises $50M - source
- Web 3.0 casino game distribution platform Vegas One raises $50M - source
- Cross-chain messaging protocol Nomad raised $22.4M in seed funding round led by Polychain. + Coinbase Ventures, OpenSea, CryptoCom Capital, Wintermute, Gnosis and Polygon - source
- Aurigami, a DeFi protocol based on the Aurora network, raised $12M in token rounds. Dragonfly Capital and Polychain Capital co-led the private token round - source
- Stadium Live Raises $10M - sports game - source
- Quasar Finance Raises $6M to help bring mass adoption to DeFi on Cosmos - source
- Gatenox Raises $2.5M to aid crypto KYC/AML compliance - source
- STFX Raises $2M - Single Trade Funds exchange - source
- Genesis Universe Raises $2M - The first metaverse of ancient civilizations - source
- DeFi Project ChangeX Raises $2M - source
- Web3 Gaming Company Ambrus Studio’s token funding has reached valuations of up to $65M. The round was led by Spartan Group & M13 - source
- Why We Invested in Persistence - A liquid staking hub building an economy around PoS assets - source
- Autograph 101: What Are Autograph NFTs? - source
- 10 Practical Uses of NFTs - Breakthroughs that will change society in the next 10 years - source
- Why Blockchain Is Terrible For Ticketing - source
- Nansen: Stablecoin yield farming - source
- Redeem-and-retain NFTs are the future of luxury goods. Why utility is the hottest trend in NFTs - source
- Anticipating Money & Credit Creation - source
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