Observations:
More deets continue to drop regarding all the contagion kerfuffle. FTX is looking to acquire BlockFi for $25M even though it was last valued at $4.8B. FTX also noped away from a deal with Celsius after seeing the state of its finances. Early rumors indicated that 3AC was potentially insolvent after having at least $400M in liquidations but a leaked Morgan Creek Digital call says BlockFi's loan to 3AC was $1B on its own. Coinflex needs more time to find buyers for its $47M bad debt until they can resume withdrawals. Genesis Trading is facing potential losses in the hundreds of millions. The dirty details continue to trickle out.
Besides that, we got Coinbase providing the U.S. government with data about crypto users, including their “historical geo tracking data” and transaction history. NAPSTER token launching on Algorand. The North Koreans were apparently behind the Harmony Horizon bridge hack. The Ethereum Gray Glacier hard fork was successfully completed. OpenSea had their customer email addresses leaked and Grayscale is suing the SEC for rejecting spot Bitcoin ETF application. Never a dull moment.
- 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:
Morgan Creek Digital says BlockFi's loan to 3AC was $1B, and the collateral on 3AC's loan was two-thirds bitcoin and one-third GBTC. Celsius reportedly maintained a highly risky 19 to 1 assets-to-equity ratio last year that may have caused its recent liquidity issues - source - 2nd
The Monetary Authority of Singapore (MAS) reprimanded 3AC for providing inaccurate information to the authorities and for having assets under management in excess of the permitted amount - source
CoinFlex continues to search for buyers of its $47M bad debt. More time needed before it can reopen the platform for withdrawals - source
FTX closes in on a deal to buy embattled crypto lender BlockFi for $25 million in a fire sale- source
FTX walked away from a deal with Celsius after seeing state of its finances - source
Genesis Trading is facing potential losses into the “hundreds of millions” in part to exposure to over-leveraged hedge fund 3AC and Hong Kong-based crypto lender Babel Finance - source
Napster Litepaper V1. Napster 3.0 will benefit music makers, fans and rights holders. Planned $NAPSTER token launch on Algorand - source - 2nd
Polkadot Blockchain Governance Upgrade. Will remove any preferential “first-class citizens” in terms of governance, such as the Polkadot Council and Technical Committee, leaving a single class of referendum participants, streamline governance processes. Set to launch on Kusama imminently - source
Blockchain analytics firm Elliptic traced the $100M Horizon Bridge hack back to the Lazarus Group, a state-sponsored North Korean hacking organization - source
Lossless returned 73M AAG Ventures tokens that were stolen during the attack on the Harmony's Horizon bridge. Recovery fee of 7% for reward distribution - source
Coinbase analytics program, Coinbase Tracer, will provide the U.S. Immigrations and Customs Enforcement agency (ICE) with data about crypto users, including their “historical geo tracking data” and transaction history. The 3 year deal signed last September for a maximum $1.37M, is one of several small contracts between Coinbase and U.S. government agencies - source
Coinbase adds support for staking Solana - source
Euro Coin (EUROC) is now live - source
Ethereum Gray Glacier hard fork has been completed, difficulty bomb delayed another 100 days - source
Grayscale Investments has sued the U.S. Securities and Exchange Commission (SEC) barely an hour after the regulatory agency rejected its application to convert its flagship Grayscale Bitcoin Trust product to an exchange-traded fund (ETF) - source
IMX staking goes live July 1st - source
Bancor Update - source
OSL, the only licensed crypto exchange based in Hong Kong, the latest crypto exchange to cut workforce. 40-60 jobs, 15% of its workforce - source
ETH Pools live on Stargate - transfer, LP, stake, and farm with your ETH in Stargate on Ethereum, Optimism & Arbitrum - source
Announcing the Aptos Grant Program. Over 100 projects building on the network - source
NFTs/Metaverse:
OpenSea announces leak of users' email addresses. An employee of Customer.io, a platform for managing email newsletters and campaigns, leaked a list of OpenSea customers’ emails to an outside party - source - 2nd
The U.S. Patent and Trademark Office will host monthly webinars on topics including intellectual property in the metaverse and patent eligibility in blockchain - source
Nansen to Track Solana NFT Data from Magic Eden and OpenSea - source
Axie Infinity releasing Land Staking - source
Mercedes partnership with MBSJQ, a digital artist, to launch its NFT collection on FTX - source
Binance has partnered with Khaby Lame, the most-followed creator on TikTok, to increase the awareness for Web3. The influencer would act as a global brand ambassador, helping debunk myths surrounding the crypto and blockchain space. Comes with exclusive Khaby Lame NFT collection - source
Tencent, the Chinese technology and entertainment giant, announced the creation of its own metaverse-driven division, the extended reality unit. Will be tasked with encompassing all metaverse-driven efforts, including hardware and software developments - source
The Story of Gods Unchained, Web3 Game - source
Doodles Bucket Auction. 24K total supply of Genesis Boxes - source
Raises:
OP Crypto launches $100M fund to back early-stage crypto VCs - source
Reciprocal Ventures launches $70M fund - source
Soba Raises $13.6M Seed Round - source
Kyve Network raises $9M for a $100M valuation - source
Trinsic $8.5M seed round for decentralized identity platform - source
Sequoia and Quona lead $6M seed round for DeFi protocol MoHash - source
Web3 network WeatherXM raises $5Min seed funding - source
League of Traders $2.4M pre-series A financing - source
NFTEye Raises $1.6M Seed Round - source
Recent private fundraising events - source
New Listings:
Binance will remove and cease trading: TRIBE/BTC margin, AION/ETH, TRIBE/BTC spot - source
Coinbase will add support for Boba Network (BOBA) and Gemini USD (GUSD) on the Ethereum network - source
Data:
from: CoinGecko, DefiLlama, DappRadar, CryptoSlam, TokenTerminal, Nansen
Bitcoin: $19,019.54, down 5.3% (24H)
Ethereum: $1,020.15, down 8.3% (24H)
Crypto Market Cap: $892B, down 4.3% (24H)
Total Crypto Trading Volume: $86.2B
24H Highest Volume Coins: USDT, BTC, ETH, BUSD, USDC, SOL, XRP
24H Lowest Volume Coins: cUSDC, cETH, cDAI, XRD, TITAN, XAUT, HBTC
BTC Dominance: 41.15%
BTC Longs: 63.38%
BTC Shorts: 36.62%
Fear & Greed Index: 11, Extreme Fear
DeFi TVL Change: $70.97B, down 4.07 % (24H)
Total Revenue: (24H)
Ethereum up 17.6% with $5.5M in revenue
Uniswap up 9.6% with $1.5M in revenue
OpenSea down 37.1% with $71.5k in revenue
Curve up 91.6% with $145.4k in revenue
Nansen Smart Money Token Inflow and Outflows:
Inflow: aSTETH, APE, ASTO, SNOOP, iETH
Outflow: cMKR, WALLET, LOVE, IMX, WAD
Blockchains by NFT Sales Volume (24H):
Ethereum down 1.60% with $13,649,227 in sales
Solana up 147.63% with $5,400,085 in sales
Ronin up 302.63% with $425,074 in sales
NFT Collection Rankings by Volume (24H):
WizNFT: up 100% with $3.02M in volume
BAYC: down 29.15% with $1.2M in volume
CryptoPunks: up 54.28% with $957.66k in volume
Art Blocks: down 0.8% with $776.27k in volume
Otherdeed: down 42.55% with $721.6k in volume
NFT Marketplaces Volume: (24)
OpenSea: down 16.1% with $15.83M in volume
X2Y2: up 11.42% with $3.01M in volume
LooksRare: down 27.92% with $546.39k in volume
Nansen Hot NFT Contracts (24H):
WizNFT with 2,113 ETH volume
BAYC with 834 ETH volume
CryptoPunks with 732 ETH volume
Nansen NFT Smart Buys (24H) :
WizNFT: 24 Smart Buyers with 69 ETH volume
Sudfah: 2 Smart Buyers with 29 ETH volume
Otherdeed: 2 Smart Buyers with 25 ETH volume
Nansen NFT Smart Sells (24H):
Eyeverse: 39 Smart Sellers with 4.48 ETH volume
WizNFT: 25 Smart Sellers with 25 ETH volume
AlphaDogs: 15 Smart Sellers with 1.72 ETH volume
Nansen NFT Smart Mints (24H):
Ursaparty: 82 Smart Minters with .3274 ETH volume
NoNecks: 77 Smart Minters with .5647 ETH volume
CryptoIdiotsClub: 62 Smart Minters with .3358 ETH volume
Unlocks:
CQT, NOTE
Vestlab - Source
Coinowl - Source
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