Observations:
Justin Sun plans to increase TRX ecosystem workforce by 50%. Binance expanding hiring for 2000 positions. Kraken doesn’t intend to make any layoffs with over 500 roles to fill this year - source - 2nd - 3rd
On-chain data suggests 3AC is selling existing crypto positions to lower collateral requirements for certain positions. 3AC was liquidated by top tier lending firms in the space with sources saying the liquidation totaled $400M among lending firms. Uncertainty all around. Situation developing - source - 2nd
Merit Circle DAO voted to cancel Yield Guild Games’ SAFT, refunding their $175,000 initial investment, removing seed tokens with $1,750,000 settlement. Avoiding future legal issues. Setting a precedent - source - 2nd
Global cryptocurrency market cap has fallen below $900B. Overall crypto market cap loses $369B in the past week
$USDD third day adrift from peg. Dropped to $0.95. $USDN scammed down to $0.76. Currently ~ $0.93
Plus more. FOMC rate decision out later today, 75bps expected. These are the incredibly wild times of our lives
- Time moves differently in crypto. Crypto is an intricate game filled with various players operating across multiple time frames and with varying agendas. Day in, day out, the pieces are moving all across the board. Sometimes for the better and sometimes for the worse. Here’s a small glimpse of what has happened so far today in our little crypto bubble -
Crypto:
The U.S. Securities and Exchange Commission has begun an investigation into whether crypto exchanges have sufficient protections against insider tradings - source
Tron DAO Reserve adds another 500M USDC to help USDD stablecoin peg. Previously deployed 700M USDC to its stablecoin reserves and another 2B to guard against short positions against tron - source
Moonbeam, a major destination for multi-chain applications on Polkadot, has integrated Chainlink Price Feeds into its smart contract platform - source
Crypto analytics firm Nansen has launched a messaging app called Nansen Connect - requires a crypto wallet to use and is targeted at NFT and crypto communities - source
Nexo frontrunning FUD claiming $0 exposure to Three Arrows Capital - source
Tether frontrunning FUD claiming no exposure to Celsius in reserves. Liquidated without losses. No exposure to 3AC - source
Russian banking giant Sber — formerly known as Sberbank — is preparing to soon complete its first digital currency deal involving the bank’s proprietary digital asset platform - source
Ethereum client Geth has released v1.10.19, which includes the definition of the Gray Glacier fork to delay the difficulty bomb two or three months - source
Introducing Checkpoint: a library for indexing StarkNet data - source
Kujira Migration & incentivised TestNet staking is live - source
NFTs/Metaverse:
OpenSea revamping back end and moving from the Wyvern protocol to its self-developed, open source Seaport protocol. Could reduce gas fees by as much as 35% - source
Raises:
The Wildcard Alliance has raised $46M in its Series A funding led by Paradigm - source
‘Stripe for NFTs’ NFTPort raises $26M Series A - source
AR company Kaleidoco announces $7M seed funding round - source
Data:
Fear & Greed Index: 7
Unlocks:
24H Gainers:
24H Losers:
DeFi TVL Change:
New Listings:
IguVerse, a Play to Earn social-network game which aims to socialize pet owners, has announced its private sale. Date: June 25, 17:00 UTC - source
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