Observations:
Ethereum’s Ropsten test merge expected to initiate soon after the PoW version of Ropsten crosses a pre-decided metric called terminal total difficulty (50 quadrillion). Afterwards, 2 more testnets will be converted to PoS before shifting to the mainnet - source
USDT and USDC on Oasis started to de-peg and fell as low as $0.12 on ValleySwap and EvoDeFi. Osmosis chain has been halted for emergency maintenance - source - 2nd
Osmosis DEX on Cosmos exploited for $5M. The core development team and the network validators stopped the chain at block #4713064. Reddit user had previously warned the Osmosis developers - source - 2nd
Chainlink introducing staking mechanism. In v0.1, native token emissions directed to stakers will target a base level of annualized staking rewards of up to 5% - source
Solana will launch a $100M crypto fund for Korean crypto startups - source
Self-custody crypto exchange Edge announced a no-KYC debit Mastercard that can be funded with crypto. $1,000 daily spending limit, but no personal information is required - source
Plus more. Always lots going on. Have a good wed-nes-day
- 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:
PayPal now supports the native transfer of cryptos between PayPal and other wallets and exchanges, granted a full Bitlicense by the New York Department of Financial Services - source
Binance stated that due to potential security issues, the Elrond (EGLD) network has been suspended for deposits and withdrawals - source
Aurora, an EVM built on the NEAR Protocol, recently paid a $6M reward to a white hat hacker for identifying a key bug which could have jeopardized up to $200M of funds - source
Frax co-founders propose spending $20M to buyback and burn FXS token to improve the value of the token that has plunged over the last six months - source
Staking services are now available to Binance US customers holding any of these 7 PoS cryptocurrencies: BNB, SOL, AVAX, ATOM, GRT, LPT and AUDIO - source
Move-to-earn wellness project Walken is launching its public beta on June 7th. App is already available on Google Play Market and App Store - source
On May 20, Litecoin was upgraded to add privacy features. Due to Korean AML laws, this has resulted in the token being removed from major Korean crypto exchanges - source
Balancer Liquid Locker is live: Voting power with no lock up, Boosted base yield on veBAL, Extra-boost on your veBAL yield & vote thanks to veSDT - source
Aura Finance will have DeFi OGs @Tetranode, 0xMaki, Darrenlautf, 0xSami, cmsholdings, stefandgeorge, and 0xMaharishi secure their treasury via multi-sig post launch - source
Popsicle Finance rolling out an alpha test of Sorbetto Limone, multi-chain optimizer that helps maximize and multiply returns from LP, without worrying about migration - source
Azuro protocol is now deployed on Gnosis Chain and the first liquidity pool in $xDAI is expected to shortly receive liquidity from our partners/investors from Gnosis - source
LCX hack of almost $8M USD in January 2022. Approx. 60% of stolen funds frozen - source
NFTs/Metaverse:
Bored Ape Yacht Club & Mutant Ape Yacht Club NFT collections now live on the JPEG’d lending protocol - source
For the last year, a piece of code existed that, if executed, could create an unlimited supply of Bored Apes. Yuga Labs has now revoked the code, a year after it first said it planned to - source
'Always Sunny' Actor Rob McElhenney Launches Web3 Writers Room With Ethereum NFTs - source
Budweiser Partners With NFT Racing Game Zed Run To Launch NFT Horses - source
Hollywood Actor Martin Lawrence Is Working on a Cardano-Powered NFT Collection - source
Alibaba Cloud, the largest cloud service provider in China, announced the launch of NFT solutions. Alibaba Cloud solutions, web hosting, digital marketing, and content delivery can help build NFT marketplaces - source
News:
U.S. electronic trading giant Citadel Securities is building a “cryptocurrency trading ecosystem” with the help of high-frequency trading and market-making firm Virtu Financial, as well as venture capital firms Sequoia Capital and Paradigm - source
Raises:
Ledger has teamed up with venture capital firm Cathay Innovation to launch a $110M early-stage fund focused on Web3, DeFi, NFTs and DAOs - source
Kushki has closed its $100M Series B funding round at a $1B valuation. core product line is Latin American payment infrastructure - source
Algorithmic Stock Advisor Delphia Raises $60M Ahead of Rewards Token Launch - source
Galaxy Digital Leads $20M Funding Round in DeFi Firm Skolem - source
Valkyrie raises $11.15M in strategic fundraising to increase its headcount and continue building out proprietary technology infrastructure - source
Polygon-based web3 data startup Navigate has closed $7.6M seed funding - source
Create2earn social metaverse Chillchat has closed a $6.5M seed token round. FTX Ventures and CryptoCom led the round - source
P2E NFT game The Red Village has closed $6.5M seed round led by Animoca Brands, GameFi Ventures with participation from Kucoin Ventures - source
Web3 writers platform Adim has raised $5M in seed funding in a round led by Andreessen Horowitz - source
Oxalis Games has raised $4.5M in support of its upcoming Web3 social simulator/farming RPG, Moonfrost - source
Backd raises $3.5M to bring reactive liquidity to DeFi - source
DEX ApolloX has closed a private fundraising round. Amount raised is not disclosed - source
Pollen DeFi (PLN) announced the launch of the Pollen Virtual on mainnet. Pollen Virtual is a trading simulator that lets users to create, manage and delegate virtual portfolios - source
DeFi venture funding deal activity fell to $176.30 million in May, its lowest amount since September 2021 - source
Unlocks:
24H Gainers & Losers:
New Listings:
New asset listings on Coinbase (several) - source
Binance.US Will List LTO Network (LTO) on June 9th - source
Inflation Hedging Coin (IHC) Gets Listed on KuCoin on June 10th - source
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