<div class="d-none"><p>This article was generated by TOKERObot 🤖.</p></div><h2>Summary</h2><ol class="cryptoNewsReportSummaryList"><h2><a class="articleSummaryLink" href="#crypto-report-article-1">Aave Lending Protocol Moves Closer to Launching GHO Stablecoin on Ethereum Mainnet</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-2">Stablecoin Issuer Circle Receives Digital Token License in Singapore</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-3">Bitcoin, Dogecoin Lead Bounce in Crypto Majors Day After Record 8-Month Liquidations</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-4">First Mover Asia: Why Did Bitcoin Regain $27K? ‘No One Is Surprised by Gensler’s Actions,’ Crypto CEO Says</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-5">U.S. SEC Enforcement Could Boost Europe's Crypto Chances, Officials Say</a></h2></ol><br /><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-1">Aave Lending Protocol Moves Closer to Launching GHO Stablecoin on Ethereum Mainnet</h2>
    <p>Aave's GHO stablecoin moves closer to launching on Ethereum mainnet as two key features are proposed: the V3 Ethereum Facilitator and the FlashMinter Facilitator. The former allows for GHO lending against collateral deposits, while the latter is a variant of flash loans issued against zero collateral. Both facilitators can generate and burn GHO tokens within limits, enabling depositors to borrow GHO against collateral in Aave V3's Ethereum mainnet pool. Voting schedules for these detailed proposals, which are in the discussion phase, have yet to be determined. The FlashMinter Facilitator will allow users to borrow GHO and repay it in a single transaction with an initial capacity of 2 million GHO on zero fees. GHO was first proposed in June last year as a decentralized stablecoin backed by a basket of cryptocurrencies chosen by Aave users, with borrowers continuing to earn interest on their collateral. The token is expected to generate additional revenue for the Aave decentralized autonomous organization by sending 100% of interest payments on GHO borrows to the DAO. Initially on Ethereum, GHO is anticipated to be issued on other blockchains based on community demand and voting.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/tech/2023/06/07/aave-lending-protocol-moves-closer-to-launching-gho-stablecoin-on-ethereum-mainnet/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-2">Stablecoin Issuer Circle Receives Digital Token License in Singapore</h2>
    <p>Circle Singapore has been granted a Major Payment Institution (MPI) license for digital payment token services by the Monetary Authority of Singapore (MAS), following in-principle approval last November. The license enables Circle Singapore to provide digital payment token services, cross-border money transfer services, and domestic money transfer services within the city-state. Circle Singapore is an affiliate of Circle Internet Financial, the issuer of USDC, the second-largest stablecoin by market cap. The MAS introduced stablecoin regulations last year, establishing capital and reserve requirements for issuers and aiming to prohibit users from engaging in activities such as lending and staking, which allow users to lock their crypto holdings to earn interest.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/policy/2023/06/07/stablecoin-issuer-circle-receives-digital-token-license-in-singapore/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-3">Bitcoin, Dogecoin Lead Bounce in Crypto Majors Day After Record 8-Month Liquidations</h2>
    <p>Crypto markets experienced a rebound on Wednesday, with Bitcoin (BTC) and Dogecoin (DOGE) leading gains among major tokens, rising 5% in the past 24 hours. Litecoin (LTC), XRP, and Shiba Inu (SHIB) also jumped as much as 4%, while the total crypto market capitalization increased 3.3% to $1.12 trillion. This bounce reversed losses from Monday's record liquidation event, which saw over $293 million worth of token-tracked futures products liquidated. The recovery comes as traders appear to dismiss the long-term implications of regulatory issues faced by Binance and Coinbase, two of the largest crypto exchanges. Despite charges from the U.S. Securities and Exchange Commission (SEC) for selling unlicensed securities, tokens alleged as securities in multiple filings earlier this week also reversed losses. However, market observers suggest that crypto majors named as securities in the SEC filings could face near-term turbulence. Some believe that the filings have strengthened the value proposition of Bitcoin, as it was not explicitly termed as a security by the SEC.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/markets/2023/06/07/bitcoin-dogecoin-lead-bounce-in-crypto-majors-day-after-record-8-month-liquidations/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-4">First Mover Asia: Why Did Bitcoin Regain $27K? ‘No One Is Surprised by Gensler’s Actions,’ Crypto CEO Says</h2>
    <p>Despite new SEC actions, Bitcoin and other cryptocurrencies rallied, with Bitcoin climbing back above $27,000 for the first time since the weekend. The SEC announced lawsuits against Binance and Coinbase and requested a temporary restraining order to freeze assets tied to Binance.US. Joshua Franklin, CEO of The Tie, believes the market's rebound indicates that this was partially priced in and that no one is surprised by Gensler's actions. Ether also experienced gains, trading near $1,900. BNB, Binance's exchange token, rose about 2% after plunging over 10%. Cardano and Solano tokens regained some lost ground, while Polygon's MATIC declined around 1.5%. The CoinDesk Market Index was up 4.8%. Institutional investors remain cautious due to the harsh US regulatory environment. Comparisons between Binance and FTX's co-mingling allegations are superficial, as the process and implications differ. Binance's accusations involve the alleged diversion of customer funds and interference in US operations, while FTX's issues pertain to blurred lines between the two entities and the non-segregation of customer funds.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/markets/2023/06/07/first-mover-asia-why-did-bitcoin-rise-no-one-is-surprised-by-genslers-actions-crypto-ceo-says/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-5">U.S. SEC Enforcement Could Boost Europe's Crypto Chances, Officials Say</h2>
    <p>As the U.S. SEC increases enforcement against major crypto exchanges like Binance and Coinbase, European Union officials promote their new crypto framework, which they believe offers more clarity to blockchain innovators. The EU's different approach, which involves regulation before observing market responses, may give it a competitive edge over the U.S., where the SEC is criticized for regulating through enforcement rather than providing clear rules. The EU's Markets in Crypto Assets (MiCA) law is seen as better suited for competing with the U.S. SEC. Businesses, uncertain about the U.S. regulatory environment, are increasingly looking to grow and manage risks in Europe. The EU has taken a tailored approach to legislating cryptocurrency, which may avoid the uncertainty faced in the U.S. due to SEC enforcement. National and European regulatory agencies will outline the specifics of the MiCA rules in the next 12-18 months. As the EU welcomes companies seeking refuge from the U.S. regulatory landscape, some American lawmakers express concern over Europe's potential advantage in fostering crypto innovation.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/policy/2023/06/07/us-sec-enforcement-could-boost-europes-crypto-chances-officials-say/">Read more</a></div></p></div>

This article was generated by TOKERObot 🤖.

Crypto Report - Wednesday June 7th, 2023

<div class="d-none"><p>This article was generated by TOKERObot 🤖.</p></div><h2>Summary</h2><ol class="cryptoNewsReportSummaryList"><h2><a class="articleSummaryLink" href="#crypto-report-article-1">Optimism Completes ‘Bedrock’ Hard Fork, in Pursuit of Superchain</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-2">Swift and Chainlink Will Test Connecting Over a Dozen Financial Institutions to Blockchain Networks </a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-3">Bitcoin-Denominated Life Insurance Provider Sets Up Shop With $19M Funding</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-4">How AI is Transforming Music Creation in Web3</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-5">Haun Ventures Leads $10M Seed Round for Web3 Gaming Studio Argus</a></h2></ol><br /><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-1">Optimism Completes ‘Bedrock’ Hard Fork, in Pursuit of Superchain</h2>
    <p>Optimism, an Ethereum layer 2 scaling solution, has successfully completed its Bedrock upgrade, bringing the blockchain closer to becoming a "Superchain" of interoperable mini-blockchains. The hard fork significantly improves chain functionality by reducing deposit-confirmation times from 10 minutes to 1 minute and lowering gas fees by 40%. The upgrade also enhances proof modularity for OP Stack, an open-source platform for developers to build customizable blockchains with Optimism, enabling the use of both validity proofs and fault proofs. Bedrock has transformed Optimism into a multi-client ecosystem, offering at least two options for client software used to run the network. Karl Floersch, CEO and co-founder of OP Labs, highlighted that this makes Optimism the first layer 2 to operate on a multi-client ecosystem, which strengthens the blockchain by minimizing network downtime risks. Following the Bedrock upgrade, $OP, Optimism's native token, experienced a 10% increase in value over 24 hours.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/tech/2023/06/06/optimism-completes-bedrock-hard-fork-in-pursuit-of-superchain/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-2">Swift and Chainlink Will Test Connecting Over a Dozen Financial Institutions to Blockchain Networks </h2>
    <p>Swift, the interbank messaging system, and Chainlink, a provider of real-world data to blockchains, are collaborating with dozens of financial institutions such as the Depository Trust and Clearing Operation (DTCC), Australia and New Zealand Banking Group Limited (ANZ), BNP Paribas, BNY Mellon, Citi, Clearstream, Euroclear, and Lloyds Banking Group to test connectivity with multiple blockchain networks. The aim is to explore how these institutions can use Swift's infrastructure to facilitate the transfer of tokenized assets across blockchains. Chainlink will provide connectivity across both public and private blockchains for the experiments, building on the partnership between Swift and Chainlink announced last year at SmartCon. Swift believes that blockchain technology could generate efficiencies, reduce costs, and simplify settlement processes, attracting more investors and increasing liquidity in private markets. Chainlink co-founder Sergey Nazarov sees this collaboration as a significant step for the crypto industry, as banks hold the largest amount of global capital, and their involvement is crucial for the blockchain industry to grow beyond single-digit trillions.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/tech/2023/06/06/swift-and-chainlink-will-test-connecting-over-a-dozen-financial-institutions-to-blockchain-networks/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-3">Bitcoin-Denominated Life Insurance Provider Sets Up Shop With $19M Funding</h2>
    <p>Life insurance firm Meanwhile Insurance Bitcoin (Bermuda) has raised $19 million to develop an AI-aided bitcoin-denominated policy targeting the growing cryptocurrency economy. The Bermuda Monetary Authority-licensed company secured funding across two seed rounds, the first co-led by OpenAI CEO Sam Altman and former Stripe executive Lachy Groom, and the second led by Gradient Ventures. Previously named Standard Crypto Insurance, the company will use the funds to hire a development team for its first product, targeting U.S. citizens with significant BTC holdings seeking tax-advantaged family protection. According to CEO Zac Townsend, the firm has already seen strong early demand from this audience. Meanwhile plans to utilize AI for underwriting, claims, and operations, and although policyholders will bear the risk of bitcoin price fluctuations affecting payout values, Townsend remains unconcerned about volatility, stating that the company's focus is on bitcoin's long-term value.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/business/2023/06/06/bitcoin-denominated-life-insurance-provider-sets-up-shop-with-19m-funding/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-4">How AI is Transforming Music Creation in Web3</h2>
    <p>In April 2023, Warner Music Group's Oana Ruxandra discussed the transformative potential of AI-driven music tools, which can inspire new forms of creativity and sub-genres. While there are concerns about protecting artists' rights, some musicians have embraced AI technology, like Grimes, who invited fans to create AI-generated songs using her voice and split royalties 50/50. AI music tools can enhance music production by filling in technical or intellectual gaps, performing sound engineering tasks more efficiently, and even pairing with Web3 for immersive, interactive experiences. Crypto-native musicians and platforms, such as VNCCII and Pixelnyx, have integrated AI tools into their practice. WarpSound, an adaptive AI music platform, has found ways to integrate blockchain-based collectibles and digital avatars, while partnering with the Tribeca Film Festival and YouTube to create interactive experiences. AI-generated songs can be minted as NFTs and sold on marketplaces like OpenSea. Although AI music tools aren't as sophisticated as text-to-image generators or chatbots, they are improving through continued human interaction. Water & Music considers creative AI the most disruptive technology for the music business since Napster.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/web3/2023/06/06/how-ai-is-transforming-music-creation-in-web3/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-5">Haun Ventures Leads $10M Seed Round for Web3 Gaming Studio Argus</h2>
    <p>Crypto investment firm Haun Ventures has led a $10 million seed funding round for Web3 gaming studio Argus, with participation from Robot Ventures, Anagram, Dispersion Capital, Alchemy, and individual investors such as former Coinbase CTO Balaji Srinivasan. Argus has announced the World Engine, a blockchain-gaming software developer kit (SDK) enabling developers to create their own Web3 gaming ecosystems. Argus CEO Scott Sunarto said the company aims to build the blockchain infrastructure to support emerging Web3 games and help developers expand their visions. The funding will be used to scale the team and build out the studio and tooling infrastructure. Breck Stodghill, the Haun Ventures investor who led the round, sees Sunarto as a "missionary" in spearheading growth in the greater Web3 gaming space. Stodghill believes that if infrastructure problems are solved, interesting new games will emerge and be beneficial for gamers. This comes as investment in blockchain-based games picks up again, with a16z leading funding rounds for gaming studio CCP Games and Web3 gamified-social protocol Here Not There earlier this year.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/web3/2023/06/06/haun-ventures-leads-10m-seed-round-for-web3-gaming-studio-argus/">Read more</a></div></p></div>

Crypto Report - Tuesday June 6th, 2023

<div class="d-none"><p>This article was generated by TOKERObot 🤖.</p></div><h2>Summary</h2><ol class="cryptoNewsReportSummaryList"><h2><a class="articleSummaryLink" href="#crypto-report-article-1">Optimism 'Bedrock' Upgrade to Speed Confirmations, Cut Gas Fees, Set Path to 'Superchain'</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-2">Virtual Reality Tokens Surge 8% as Traders Await Apple's VR Headset Release</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-3">El Salvador's Volcano Energy Secures $1B in Commitments for 241 MW Bitcoin Mine</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-4">Bitcoin Retail Demand to Remain Strong Ahead of Halving Event: JPMorgan</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-5">3 Reasons Why Beauty on the Blockchain Makes Sense</a></h2></ol><br /><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-1">Optimism 'Bedrock' Upgrade to Speed Confirmations, Cut Gas Fees, Set Path to 'Superchain'</h2>
    <p>Optimism, a layer 2 Ethereum blockchain solution, is set to launch its "Bedrock" upgrade on Tuesday, aiming to enhance usability by lowering gas fees by 40% and reducing deposit-confirmation times by 90%. The upgrade moves Optimism closer to becoming a "Superchain" of interoperable and composable blockchains built using Optimism's OP Stack. Coinbase plans to build its Base network on Optimism, and venture capital firm Andreessen Horowitz supports new client software for the project. Bedrock will implement an optimized data compression strategy, support reorgs, and improve proof modularity for the OP Stack, benefiting developers building customizable environments on Optimism. It will also help transition Optimism to a multi-client ecosystem, increasing the system's resilience by eliminating single points of failure. The upgrade is scheduled for 16:00 UTC on Tuesday and should last two to four hours, during which deposits and withdrawals will be unavailable, and the chain will halt temporarily. Bedrock aims to make Optimism more competitive with Arbitrum, its biggest rival, which has $5.69 billion in total value locked (TVL), compared to Optimism's $1.68 billion TVL.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/tech/2023/06/05/optimism-bedrock-upgrade-to-speed-confirmations-cut-gas-fees-set-path-to-superchain/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-2">Virtual Reality Tokens Surge 8% as Traders Await Apple's VR Headset Release</h2>
    <p>Cryptocurrency's virtual reality (VR) sector has experienced a 7.9% surge in the past 24 hours, with investors eagerly awaiting Apple's VR headset reveal on Monday. This major product release has driven Apple's share price up by 7.4% in the past two weeks, a trend mirrored by VR and metaverse crypto tokens. Decentraland (MANA), the largest VR-related token with a market cap nearing $1 billion, rose by 5.4% over the past 24 hours despite the broader crypto market losing 1.5% of its value. Wilder World (WILD), a five-dimensional metaverse project, emerged as the top gainer in the sector, soaring by 18.8% over the past 24 hours and capping a 119% gain over the past 30 days. Goldman Sachs identified Apple as one of two companies leading the way in VR and augmented reality. The tech giant is anticipated to mass-release a mixed reality headset in Q4 of this year, according to a recent Morgan Stanley investor note. Despite the wider metaverse sector struggling during the crypto winter, with some assets falling more than 80% from their all-time highs, the recent uptick suggests a possible shift in the tide. Metaverse tokens saw $905 million in trading volume over the past 24 hours, and the group's overall market cap rose to $8.65 billion, as reported by CoinGecko.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/business/2023/06/05/virtual-reality-tokens-surge-8-as-traders-await-apples-vr-headset-release/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-3">El Salvador's Volcano Energy Secures $1B in Commitments for 241 MW Bitcoin Mine</h2>
    <p>Volcano Energy has secured $1 billion in commitments for the construction of a 241 MW bitcoin mine in El Salvador's Metapán region, with Tether as one of the investors. The mine will utilize 169 MW of solar and 72 MW of wind energy, generating over 1.3 exahash/second (EH/s) of computing power. The project, located in Metapán, Santa Ana, will involve the government in planning and execution, with a "preferred participation equivalent to 23% of revenues." External investors will own 27% of the venture, while the remaining 50% will be reinvested for expanding energy production and mining capacities. Although previous mining initiatives have focused on geothermal energy, the connection between this solar and wind energy park and volcanic activity remains unclear. Volcano Energy refers to the site as a "pathway to our geothermal future" without providing further details. Tether's investment in Volcano Energy is part of its strategy to diversify its ecosystem, which also includes investments in bitcoin mining in Uruguay and adding bitcoin to its reserves backing USDT. As North American development opportunities become limited, mining companies are exploring investments in regions like Latin America and the Middle East.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/business/2023/06/05/el-salvadors-volcano-energy-secures-1b-in-commitments-for-241-mw-bitcoin-mine/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-4">Bitcoin Retail Demand to Remain Strong Ahead of Halving Event: JPMorgan</h2>
    <p>Retail demand for bitcoin is expected to remain robust in the coming year, particularly as the April 2024 halving event approaches, according to a JPMorgan research report. The recent increase in retail demand can be partly attributed to Bitcoin Ordinals and BRC-20 tokens, but the upcoming halving event is likely to be the main driver. The halving, which will cut mining rewards by 50%, would double the production cost to around $40,000, creating a positive psychological effect as the production cost has historically acted as an effective lower boundary for bitcoin's price. Previous halving events in 2016 and 2020 were followed by a bullish trajectory for bitcoin prices. However, institutional demand for bitcoin has been declining due to concerns over fraud, heightened volatility, and increased uncertainty stemming from regulatory pressure in the US. JPMorgan previously noted that gold and bitcoin both rallied strongly after the collapse of Silicon Valley Bank, as investors saw them as hedges against catastrophic scenarios, with institutional investors favoring gold and retail investors leaning towards bitcoin.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/markets/2023/06/05/bitcoin-retail-demand-to-remain-strong-ahead-of-halving-event-jpmorgan/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-5">3 Reasons Why Beauty on the Blockchain Makes Sense</h2>
    <p>Beauty and fashion industries are increasingly embracing blockchain technology, seeking to connect with Web3-native consumers and enhance their supply chain transparency. L'Oréal-owned NYX Professional Makeup launched GORJS, the world's first beauty-focused decentralized autonomous organization (DAO), to promote creators building beauty experiences in the Web3 ecosystem. The company also partnered with People Of Crypto (POC) and The Sandbox for a week-long Pride Month celebration featuring NFT avatars. Ulta Beauty has experimented with digital activations on Roblox since 2022, creating virtual worlds for customers. The company will also participate in the upcoming Metaverse Beauty Week from June 12 to 16. Blockchain offers potential solutions to greenwashing challenges faced by the beauty industry, as demonstrated by Clarins' blockchain-based platform that allows customers to trace products' manufacturing journeys. Blockchain can also help combat counterfeit products, as showcased by LMVH's blockchain initiative for Louis Vuitton bags and Parfums Christian Dior. Other blockchain experiments include bitcoin cash-back programs rewarding customers with satoshis for purchases. As digital identity becomes increasingly important, blockchain technology is poised to play a significant role in the future of beauty brands.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/web3/2023/06/05/3-reasons-why-beauty-on-the-blockchain-makes-sense/">Read more</a></div></p></div>

Crypto Report - Monday June 5th, 2023

<div class="d-none"><p>This article was generated by TOKERObot 🤖.</p></div><h2>Summary</h2><ol class="cryptoNewsReportSummaryList"><h2><a class="articleSummaryLink" href="#crypto-report-article-1">U.S. Adds 339K Jobs in May, Blowing Through Estimates for 195K; Bitcoin Steady at $27K</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-2">Credit Suisse, Deutsche Bank-Backed Taurus Deploys on Polygon Blockchain</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-3">Marathon Digital Mined 77% More Bitcoin in May With the Help of Its Software</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-4">Justin Sun Predicts Huobi May Get Hong Kong License in 6 to 12 Months</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-5">Sotheby’s Golden ‘Goose’ Sale and Mercedes Benz Puts NFTs in Motion</a></h2></ol><br /><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-1">U.S. Adds 339K Jobs in May, Blowing Through Estimates for 195K; Bitcoin Steady at $27K</h2>
    <p>The U.S. economy exceeded expectations by adding 339,000 jobs in May, surpassing the forecasted 195,000 and an upwardly revised 294,000 jobs in April, according to a Bureau of Labor Statistics report. The unemployment rate, however, increased to 3.7% compared to 3.4% in April and against the predicted 3.5%. Despite the U.S. Federal Reserve's historic series of rate hikes since early 2022 in an attempt to curb high inflation, the strong employment market has remained largely unaffected. The Fed's Federal Open Market Committee (FOMC) is set to meet on June 13-14, with markets divided on whether another rate hike will occur. This uncertainty has impacted bitcoin, which fell from nearly $30,000 to around $27,000, where it held steady following the BLS release. In terms of earnings, average hourly earnings rose 0.3% in May, lower than April's 0.4% and the expected 0.4%. Year-over-year, average hourly earnings increased by 4.3%, meeting expectations and slightly down from 4.4% in April.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/business/2023/06/02/us-adds-339k-jobs-in-may-blowing-through-estimates-for-195k-bitcoin-steady-at-27k/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-2">Credit Suisse, Deutsche Bank-Backed Taurus Deploys on Polygon Blockchain</h2>
    <p>Taurus, a digital asset infrastructure provider offering custody, tokenization, and trading of digital assets, has partnered with Ethereum scaling network Polygon to support staking and decentralized finance (DeFi) as tokenization gains momentum among financial institutions and large corporations. The Geneva-based firm secured $65 million in funding in February, led by Credit Suisse and Deutsche Bank. Tokenization, which enables trading of real-world assets in a digital format, is attracting traditional financial institutions to the blockchain sector. JPMorgan executed live trades using tokenized versions of the yen and Singapore dollar on Polygon last November, while Bank of America reported that the tokenized gold market exceeded $1 billion in March. Taurus noted that most Tier 1 financial institutions are building capabilities to manage tokenized securities and require a blockchain-agnostic and token-agnostic infrastructure. As a layer 2 blockchain, Polygon processes transactions faster and at lower costs than the main Ethereum network, with plans to expand beyond Ethereum as an "internet of blockchains" that connects Ethereum-compatible networks while further reducing transaction costs and increasing speeds.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/business/2023/06/02/credit-suisse-deutsche-bank-backed-taurus-deploys-on-polygon-blockchain/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-3">Marathon Digital Mined 77% More Bitcoin in May With the Help of Its Software</h2>
    <p>Marathon Digital Holdings (MARA) mined 1,245 bitcoin in May, a 77% increase from the previous month, largely due to its proprietary software. The software allows the company to control machine output, uptime, and hash rate scaling. The increase in production was also attributed to a higher hash rate and transaction fees, which accounted for about 11.8% of the total bitcoin earned. Marathon's operational computing power rose by 9% to 15.2 exahash/second (EH/S). In early May, miners experienced increased revenues due to higher transaction fees driven by the popularity of Ordinals, a protocol that enabled added functionality on the bitcoin blockchain such as non-fungible tokens and memecoins. Marathon's production increase may be partly due to the company not running its machines at full capacity in April, leaving room for expansion in May. In April, the miner reported a 15% decrease in bitcoin production, citing increased network difficulty, luck, and curtailment activity. Compared to other publicly listed miners, Marathon produced the least bitcoin per exahash in April, with 50 bitcoin per exahash of computing power.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/tech/2023/06/02/marathon-digital-mined-77-more-bitcoin-in-may-with-the-help-of-its-software/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-4">Justin Sun Predicts Huobi May Get Hong Kong License in 6 to 12 Months</h2>
    <p>Crypto exchange Huobi may obtain a crypto trading license in Hong Kong within six to 12 months, according to Huobi advisor and Tron founder Justin Sun. The exchange recently submitted an application to become a virtual asset service provider (VASP), which includes an 18-month grace period for regulators to approve or deny the application. However, Sun anticipates faster action from authorities. Huobi has moved its headquarters from Singapore to Hong Kong with plans to launch Huobi Hong Kong, as the city aims to establish itself as a virtual asset hub. Sun believes that other Asia-based crypto exchanges, such as OKX, Gate.io, Bitget, and ByBit, could follow suit. When questioned about competing with Coinbase and Kraken in Canada, Sun stated that Huobi has no intentions to operate in the country due to its strict regulatory requirements, instead focusing on "friendly jurisdictions" like the Caribbean, Hong Kong, and Japan.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/business/2023/06/02/huobi-could-have-hong-kong-license-in-six-to-twelve-months-justin-sun-on-coindesk-tv/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-5">Sotheby’s Golden ‘Goose’ Sale and Mercedes Benz Puts NFTs in Motion</h2>
    <p>Sotheby’s is set to auction off 37 rare NFTs from bankrupt crypto hedge fund Three Arrows Capital's coveted Grails collection on June 15, including Dmitri Cherniak's Ringers #879 ("The Goose"), which is expected to fetch between $2-3 million. The first set of NFTs auctioned from the Grails collection brought in $2.4 million, with an additional $3 million from a private sale, totaling over $6 million so far. Meanwhile, Mercedes-Benz NXT, the car manufacturer's Web3 arm, has partnered with Dutch artist Harm van den Dorpel and digital art organization Fingerprints DAO to create a 1,000-edition generative art collection that plays on themes of velocity and perception. The collection will be available through Fingerprints DAO's website via a rebate Dutch auction on June 7. Nike is also entering the NFT market by bringing its .SWOOSH NFTs to the EA Sports gaming ecosystem, focusing on creating immersive experiences and new levels of customization. This follows the release of Nike's first NFT sneaker collection last week, which generated $1.9 million in sales.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/web3/2023/06/02/sothebys-golden-goose-sale-and-mercedes-benz-puts-nfts-in-motion/">Read more</a></div></p></div>

Crypto Report - Friday June 2nd, 2023

<div class="d-none"><p>This article was generated by TOKERObot 🤖.</p></div><h2>Summary</h2><ol class="cryptoNewsReportSummaryList"><h2><a class="articleSummaryLink" href="#crypto-report-article-1">Crypto.com Receives Digital Token License in Singapore</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-2">For Financial Advisors, Real World Assets Could Be a Safe(r) Path to Crypto</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-3">Bitcoin Miners Gain Support From Texas With Two Bills Passed, One Halted</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-4">Nike Is Bringing Its .SWOOSH NFTs to EA Sports Games</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-5">GameStop Teams Up with The Telos Foundation to Grow Web3 Gaming Strategy</a></h2></ol><br /><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-1">Crypto.com Receives Digital Token License in Singapore</h2>
    <p>Cryptocurrency exchange Crypto.com has successfully completed its licensing process in Singapore, obtaining a Major Payment Institution (MPI) license for Digital Payment Token (DPT) services from the Monetary Authority of Singapore (MAS). The exchange initially received in-principle approval in June last year. Crypto.com's CEO, Kris Marszalek, praised MAS as a globally recognized regulator that promotes responsible innovation in the digital assets sector. MAS has previously vowed to be "brutal and unrelentingly hard" on misconduct in the crypto industry, solidifying its reputation as a stringent regulator. Despite these high standards, prominent crypto companies like Coinbase and Blockchain.com have also secured in-principle approvals from MAS in the past year.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/policy/2023/06/01/cryptocom-receives-digital-token-license-in-singapore/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-2">For Financial Advisors, Real World Assets Could Be a Safe(r) Path to Crypto</h2>
    <p>Real World Assets (RWA) on blockchain technology, which are expected to reach a market size of $4 trillion to $16 trillion by 2030, offer financial advisors a safer path to crypto. RWA tokens represent non-blockchain-native assets, providing a less volatile alternative to traditional crypto assets like Bitcoin and Ethereum. These tokens can be programmed with lockup periods and accredited investor requirements, and can be used to represent equity in real estate investments or pools lending money to entrepreneurs in developing countries. Public blockchains provide transparency, efficiency, liquidity, self-custody, and collateralization for RWA tokens. Clients are showing increased interest in alternative assets like private credit, real estate, and collectibles, often represented by RWA tokens. This growing interest offers double-digit returns without the volatility risk associated with traditional cryptocurrencies. Financial advisors need to understand the benefits of RWA tokens, such as increased transparency and liquidity, as well as the concept of self-custody and its inherent efficiencies and security risks. The rise in RWA activity may also lead to higher token prices for networks like Ethereum and Polygon, as their native tokens are used to pay for transactions.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/markets/2023/06/01/for-financial-advisors-real-world-assets-could-be-a-safer-path-to-crypto/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-3">Bitcoin Miners Gain Support From Texas With Two Bills Passed, One Halted</h2>
    <p>Texas legislators have passed two bills, SB 1929 and HB 591, in support of the bitcoin mining industry, both awaiting Gov. Greg Abbott's signature. If signed, they will take effect on Sept. 1. SB 1929 requires miners with an energy capacity over 75 MW to register with the Public Utilities Commission (PUC) of Texas as large load operators, sharing data with the Electricity Reliability Council of Texas (ERCOT), the grid operator. HB 591 introduces tax exemptions for companies utilizing otherwise wasted gas, including data centers. The third bill, SB 1751, known as the "anti bitcoin mining bill," which aimed to cap the industry's participation in cost-saving demand-response programs, was halted at the committee stage but may be reintroduced in the next session starting January 2025. Texas is a major bitcoin mining hub due to cheap energy and friendly regulators. Other states like Arkansas and Montana have passed pro-mining legislation, while New York imposed a two-year moratorium on new fossil fuel-based bitcoin mines, and Oregon is considering legislation requiring data centers to reduce greenhouse gas emissions. Meanwhile, a proposed 30% tax on bitcoin mining by the Biden administration appears to have stalled.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/policy/2023/06/01/bitcoin-miners-gain-support-from-texas-with-two-bills-passed-one-halted/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-4">Nike Is Bringing Its .SWOOSH NFTs to EA Sports Games</h2>
    <p>Nike Virtual Studios and EA Sports are joining forces to introduce digital creations from Nike's .SWOOSH platform into the EA Sports gaming ecosystem. The collaboration aims to enable .SWOOSH members and EA Sports fans to express their personal style through immersive experiences and new levels of customization within the gaming environment. This partnership follows Nike's .SWOOSH platform's recent launch of its first NFT sneaker collection, which exceeded $1 million in sales despite initial technical issues and delays. With 97,627 Our Force 1 boxes sold out of a total inventory of 106,453, the collaboration promises to bring unique experiences to both the .SWOOSH community and the extensive EA SPORTS fan base, according to Ron Faris, general manager of Nike Virtual Studios.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/web3/2023/06/01/nike-is-bringing-its-swoosh-nfts-to-ea-sports-games/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-5">GameStop Teams Up with The Telos Foundation to Grow Web3 Gaming Strategy</h2>
    <p>Leading game retailer GameStop is collaborating with The Telos Foundation, the organization behind layer 1 blockchain Telos, to expand its Web3 gaming strategy. This partnership will connect Web3 games using Telos' decentralized blockchain infrastructure to GameStop's upcoming Web3 game launchpad Playr, creating new avenues for mainstream gaming distribution. AJ Dinger, head of business development at the Telos Foundation, believes the collaboration will drive new users into the Web3 space by merging GameStop Playr with Web3 games on Telos' high-performance blockchain, addressing barriers deterring Web2 players from adopting Web3. The news saw Telos' native token TLOS rise by 10% before falling back. GameStop has been transitioning from a brick-and-mortar approach to a digital expansion focusing on Web3 gaming. In February 2022, the company partnered with layer 1 blockchain Immutable X to create a non-fungible token (NFT) marketplace for trading in-game assets, which launched to the public in October 2022 after operating as a public beta since July. Additionally, GameStop released its self-custodial crypto and NFT wallet in May 2022.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/web3/2023/06/01/gamestop-teams-up-with-the-telos-foundation-to-grow-web3-gaming-strategy/">Read more</a></div></p></div>

Crypto Report - Thursday June 1st, 2023

<div class="d-none"><p>This article was generated by TOKERObot 🤖.</p></div><h2>Summary</h2><ol class="cryptoNewsReportSummaryList"><h2><a class="articleSummaryLink" href="#crypto-report-article-1">Bitcoin Could Rise to $120K by End-2024: Standard Chartered</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-2">An Orb, a Token and Money for Everyone: Worldcoin’s CEO on Crypto’s Most Daring Project</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-3">Starbucks Teams Up With Micah Johnson's Aku NFT Project </a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-4">Grayscale Bitcoin Trust Discount Narrows to Lowest Since May 2022</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-5">Distressed Crypto Specialist Thomas Braziel Sets Up Investment, Advisory Firm</a></h2></ol><br /><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-1">Bitcoin Could Rise to $120K by End-2024: Standard Chartered</h2>
    <p>Bitcoin, the leading cryptocurrency by market value, could escalate to $50,000 by the end of 2021 and further to $120,000 by the close of 2024, according to a research report released by Standard Chartered Bank on Monday. This updated forecast surpasses the bank's previous prediction of $100,000, made in April, which was based on various factors including a potential banking-sector crisis. The bank now views this earlier estimate as too conservative. Bitcoin has seen an 80% increase since the beginning of the year and is presently valued around $30,100. The report suggests that a key factor driving this predicted surge is the increased profitability for bitcoin miners. The logic behind this is that higher profitability allows miners to sell less of their newly mined Bitcoin while still maintaining their cash flow. This reduces the net supply of Bitcoin in the market, thereby driving up prices.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/markets/2023/07/10/bitcoin-could-rise-to-120k-by-end-2024-standard-chartered/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-2">An Orb, a Token and Money for Everyone: Worldcoin’s CEO on Crypto’s Most Daring Project</h2>
    <p>Worldcoin, a project co-founded by Sam Altman, CEO of OpenAI, aims to tackle multiple challenges faced by the Web3 ecosystem, such as creating better cryptocurrency, improving AI development through decentralization, and reducing global inequalities. Its primary goal is to distribute tokens freely to all eight billion people on Earth as a form of universal basic income (UBI). To ensure the tokens are given to actual humans and not AI-generated fakes, Worldcoin has invented a device called "The Orb" that scans an individual's eyeball. This device is intended to scan every human eye, providing everyone access to open-source and decentralized financial tools. Worldcoin currently claims to have 1.8 million signups, with the ultimate goal of reaching 8 billion. The project’s co-founder and CEO, Alex Blania, believes that if successful, Worldcoin could represent one of the most profound technological shifts in history.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/consensus-magazine/2023/07/10/an-orb-a-token-and-money-for-everyone-worldcoins-ceo-on-cryptos-most-daring-project/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-3">Starbucks Teams Up With Micah Johnson's Aku NFT Project </h2>
    <p>Starbucks' Web3 loyalty program, Odyssey, is partnering with the non-fungible token (NFT) collection Aku, created by former Major League Baseball player Micah Johnson. This collaboration involves launching a new digital collectible Stamp designed by Aku, as part of a new Journey called "Aku Adventure" available to Odyssey members from July 17, 2023, to August 13, 2023. Aku's NFTs, popular among celebrities like Trevor Noah, Pusha T, and Tyra Banks, are centered around inspiring children to dream big. Alongside this partnership, Starbucks pledged to donate $100,000 to Blessings in a Backpack, a non-profit organization addressing child food insecurity. This collaboration follows previous successful NFT releases by Starbucks as part of the Odyssey program, including "The Siren Collection" and "The Starbucks First Store Collection," despite initial technical difficulties experienced by collectors due to high demand.
<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/web3/2023/07/10/starbucks-teams-up-with-micah-johnsons-aku-nft-project/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-4">Grayscale Bitcoin Trust Discount Narrows to Lowest Since May 2022</h2>
    <p>The Grayscale Bitcoin Trust's (GBTC) discount to its net asset value (NAV) has been decreasing, currently sitting at around 27%, the lowest level since May 2022. The narrowing of this discount, which had escalated to nearly 50% last year, has been influenced by BlackRock's mid-June application to launch a spot bitcoin ETF in the US. This move triggered similar filings from other industry players, including Fidelity, prompting optimism among investors that the SEC may approve a spot bitcoin ETF after years of rejections. Such hopes have encouraged buying in GBTC, which Grayscale had previously sought to convert into a spot bitcoin ETF, a proposal that was rejected by the SEC. While the prospect of SEC approval for a spot bitcoin ETF is currently high, caution is advised, given the ongoing SEC lawsuit against Coinbase, the proposed crypto custodian for the BlackRock fund.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/markets/2023/07/10/grayscale-bitcoin-trust-discount-narrows-to-lowest-since-may-2022/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-5">Distressed Crypto Specialist Thomas Braziel Sets Up Investment, Advisory Firm</h2>
    <p>Thomas Braziel, the co-founder and managing partner of 507 Capital, is establishing a new firm named 117 Partners to expand his operations into the crypto sector. This new entity will provide brokerage and advisory services, along with direct deals, in addition to buying bankruptcy claims, an area where Braziel's original firm has a significant history. 507 Capital started purchasing bankruptcy claims from Mt. Gox in 2015 and has since been involved in several high-profile insolvencies and restructurings in the crypto space, including Cred Inc., Quadriga, 3AC, Celsius, and FTX. Braziel announced the creation of 117 Partners as a hybrid between advisory and investment, marking a strategic shift from his previous focus solely on distressed assets.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/business/2023/07/10/distressed-crypto-specialist-thomas-braziel-sets-up-investment-advisory-firm/">Read more</a></div></p></div>

Crypto Report - Monday July 10th, 2023

<div class="d-none"><p>This article was generated by TOKERObot 🤖.</p></div><h2>Summary</h2><ol class="cryptoNewsReportSummaryList"><h2><a class="articleSummaryLink" href="#crypto-report-article-1">Why Edinburgh Is Zumo's Crypto Hub</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-2">Shiba Inu-Based Shibarium Blockchain Expected to Go Live in August</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-3">BlackRock CEO’s Turnabout on Bitcoin Elicits Cheers, Skepticism of Crypto Cred</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-4">Storj, Filecoin and Solana Lead First Week of July Crypto Market Gains</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-5">First Mover Asia: Bitcoin Whales Are Increasing, but BTC Sent to Exchanges Continues to Fall. What Does the Trend Mean? </a></h2></ol><br /><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-1">Why Edinburgh Is Zumo's Crypto Hub</h2>
    <p>Edinburgh-based digital-assets infrastructure platform Zumo is making waves in the crypto world, leveraging the city's rich computer science heritage and strong talent pool. Co-founded by Nick Jones and Paul Roach, Zumo offers Web2 companies an entry point into Web3. The choice of Edinburgh was influenced by the city's academic strength in informatics, its launch of a blockchain and AI accelerator, and its position as the UK's second-largest startup hub. Despite the challenges posed by a small local talent pool and Brexit, the co-founders remain optimistic about the future of the company in Edinburgh. They see potential for the UK to become a global digital-assets hub, drawing parallels with Singapore, Switzerland, and Abu Dhabi. This optimism extends to Zumo's expansion plans, which include establishing a secondary regulatory hub in Abu Dhabi this year to tap into the MENA and South Asian markets. Despite its global aspirations, Zumo maintains a primarily UK-focused business structure, with its Financial Conduct Authority-registered business listed in Scotland and its holding company listed in England.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/consensus-magazine/2023/07/07/why-edinburgh-is-zumos-crypto-hub/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-2">Shiba Inu-Based Shibarium Blockchain Expected to Go Live in August</h2>
    <p>The much-anticipated layer 2 blockchain, Shibarium, is slated to go live following a conference in Toronto in August, according to developer Shytoshi Kusama. Layer 2 blockchains are off-chain systems that help alleviate scaling and data bottlenecks by bundling multiple transactions into one. Kusama revealed that all Shiba Inu-branded projects, along with the completed Worldpaper and Treat, would be released at the event. The decentralized autonomous organization (DAO) DoggyDAO, which will fund projects on Shibarium, will also be introduced then. The Shibarium testnet has recorded substantial activity, with 20 million transactions from approximately 16 million wallets as of June, suggesting a strong demand for the network. Developers have indicated that Shibarium will primarily focus on metaverse and gaming applications, especially with the expected growth in the non-fungible token (NFT) sector. This launch could strengthen the fundamentals of the Shiba Inu (SHIB) token, which began as a meme coin but has since aimed to establish itself as a serious project with its own blockchain network and decentralized application ecosystem.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/tech/2023/07/07/shiba-inu-based-shibarium-blockchain-expected-to-go-live-in-august/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-3">BlackRock CEO’s Turnabout on Bitcoin Elicits Cheers, Skepticism of Crypto Cred</h2>
    <p>BlackRock CEO Larry Fink's newfound support for Bitcoin has drawn mixed reactions, with some suggesting it may pave the way for more Wall Street executives to embrace cryptocurrencies. However, critics argue his favored method of investment - the exchange-traded fund (ETF) - deviates from the original decentralized ideals of digital assets. Fink, previously known for his skepticism towards cryptocurrencies, recently stated that Bitcoin could "revolutionize finance." His endorsement, however, centers on making it easier and cheaper to trade and invest in Bitcoin through ETFs, rather than promoting the core concept of decentralization. Critics fear this approach undermines the primary feature of Bitcoin: the ability to control funds without needing a third-party manager. Despite these concerns, Fink's change of stance could help with Bitcoin's mass adoption and further embed it into mainstream consciousness. Paul McCaffery, managing director at Keefe Bruyette & Woods, views Fink's move as a "game-changer" that could encourage other Wall Street investors to allocate more money to the cryptocurrency.
<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/business/2023/07/07/blackrock-ceo-larry-finks-turnabout-on-bitcoin-elicits-cheers-skepticism-from-crypto-insiders/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-4">Storj, Filecoin and Solana Lead First Week of July Crypto Market Gains</h2>
    <p>Crypto storage tokens, specifically Filecoin's FIL and Storj's STORJ, led the market gains during the first week of July, outperforming larger cryptocurrencies like Bitcoin and Ether. Storj, a crypto-backed cloud storage platform often seen as an alternative to services like Amazon or Google, saw its native token increase by 15% over the week. Filecoin, another decentralized protocol for renting out spare storage, and a competitor to Storj with a nearly $2 billion market value, also saw a 12% gain in the same period. Meanwhile, Bitcoin dipped 0.7% and Ether fell 3.5%, with traders attributing the stagnant price movement to market uncertainty, conflicting economic data, and ongoing central bank deliberations about managing high inflation without triggering a severe recession. Solana's SOL token also made notable gains, rising 12% over the week, though the reasons behind the surge remain unclear. The CoinDesk Market Index, a measure of crypto market performance, dropped 1.3% over the past week, with only the Indices' Computing Sector posting weekly gains.
<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/markets/2023/07/07/storj-filecoin-and-solana-lead-first-week-of-july-crypto-market-gains/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-5">First Mover Asia: Bitcoin Whales Are Increasing, but BTC Sent to Exchanges Continues to Fall. What Does the Trend Mean? </h2>
    <p>The number of large Bitcoin holders, also known as whales, is on the rise while the amount of Bitcoin sent to exchanges is decreasing, suggesting bullishness among investors. This comes amid recent market fluctuations that saw Bitcoin dip below $30,000 following strong ADP private sector jobs reports and ISM Services Index, before rebounding back above this threshold. The positive jobs data may prompt the U.S. central bank to implement further rate cuts to control inflation, a move that typically impacts crypto and other asset markets negatively. Despite these market dynamics, many investors remain hopeful that the U.S. Securities and Exchange Commission (SEC) will reverse its pattern of rejecting spot Bitcoin ETF filings. Ether followed a similar trend, dropping after the ADP report, which showed an addition of 497,000 jobs, exceeding forecasts. Other major cryptos also experienced significant declines before recovering some ground. According to Richard Mico, U.S. CEO of Banxa, Bitcoin's support at $30,000 signals an increasingly optimistic sentiment among investors. Despite the increase in Bitcoin whales, these large holders appear hesitant to move their assets to centralized exchanges, possibly due to exchange risk or regulatory concerns.
<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/markets/2023/07/07/first-mover-asia-bitcoin-whales-are-increasing-but-btc-sent-to-exchanges-continues-to-fall-what-does-the-trend-mean/">Read more</a></div></p></div>

Crypto Report - Friday July 7th, 2023

<div class="d-none"><p>This article was generated by TOKERObot 🤖.</p></div><h2>Summary</h2><ol class="cryptoNewsReportSummaryList"><h2><a class="articleSummaryLink" href="#crypto-report-article-1">Bitcoin Could Rally to $125K by End-2024: Matrixport</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-2">Lightning Labs Unveils Bitcoin Tools for AI</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-3">You Can Now Buy NFTs on Twitter Through Inspect's Browser Extension</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-4">First Mover Americas: Bitcoin Cash Rises More Than 10%</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-5">CryptoQuant Parent Raises $6.5M Round Led by Atinum Investment </a></h2></ol><br /><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-1">Bitcoin Could Rally to $125K by End-2024: Matrixport</h2>
    <p>Crypto services provider Matrixport anticipates Bitcoin could rally to $125,000 by the end of 2024. This forecast is based on data indicating a bull market typically follows the end of a bear market, marked by setting a 12-month high for the first time in at least a year. Such a signal was observed last month when Bitcoin prices topped $31,000, the highest since June 2022. Markus Thielen, head of research and strategy at Matrixport, suggests that based on historical patterns, Bitcoin prices could increase by +123% over twelve months and by +310% over eighteen months, reaching $65,539 in twelve months and $125,731 over eighteen months. Matrixport's prediction aligns with Bitcoin's trend of experiencing sharp uptrends in the 12-18 months following the halving of the mining reward. The next halving, reducing the new coins per block from 6.5 BTC to 3.25 BTC, is slated for March/April next year.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/markets/2023/07/06/bitcoin-could-rally-to-125k-by-2024-end-matrixport/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-2">Lightning Labs Unveils Bitcoin Tools for AI</h2>
    <p>Artificial intelligence applications such as OpenAI’s GPT series can now send, receive, and hold Bitcoin (BTC) using a suite of new tools unveiled by Lightning Labs. The announcement follows the significant growth of the AI industry and the popularity of AI models like ChatGPT. Lightning Labs aims to address the absence of a native Internet-based payment system in large language models (LLMs), which currently rely on traditional methods like credit cards. The company has developed tools that incorporate Bitcoin micropayments via Lightning with popular AI software libraries like LangChain. This integration is expected to reduce software deployment costs and broaden the range of AI use cases. One potential use case is creating software that charges for API access, allowing AI software or agents to pay for access based on the quality of responses received. Despite the success of chatbots, Lightning Labs predicts that the majority of use cases will be discovered in enterprise and software-as-a-service applications.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/tech/2023/07/06/lightning-labs-unveils-bitcoin-tools-for-ai/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-3">You Can Now Buy NFTs on Twitter Through Inspect's Browser Extension</h2>
    <p>NFT Inspect, a tool for analyzing and monitoring non-fungible tokens (NFTs), is collaborating with Web3 company MoonPay to allow Twitter users to buy NFTs and cryptocurrencies via its Chrome browser extension. The extension, launched last month, provides real-time data on NFT collections frequently used as Twitter profile pictures and allows users to analyze how an NFT is used on the platform. The new partnership will enable users to buy various cryptocurrencies through MoonPay's payment infrastructure, which supports methods like debit cards, Apple Pay, Google Pay, and local bank transfers, to then purchase NFTs. The collaboration aims to promote crypto adoption and create an inclusive digital payments ecosystem. NFT Inspect, revived under new ownership in March, continues to develop its tools to help NFT traders track market trends. Meanwhile, MoonPay, which recently partnered with Mastercard, enables customers to buy NFTs on various platforms without the need to first buy cryptocurrency.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/web3/2023/07/06/you-can-now-buy-nfts-on-twitter-through-inspects-browser-extension/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-4">First Mover Americas: Bitcoin Cash Rises More Than 10%</h2>
    <p>Bitcoin (BTC) rallied to a new 13-month high of over $31,500 before pulling back to around $31,100, a more than 2% increase for the day. However, the top performer among large-cap cryptocurrencies on Thursday was Bitcoin Cash (BCH), which rose by over 12%, following its listing on EDX Markets, backed by Fidelity, Charles Schwab, and Citadel Securities. TradingView data suggests this upward trend could continue in July, historically a good month for cryptos. BlackRock CEO Larry Fink indicated his belief that Bitcoin and other cryptos could revolutionize the financial system, potentially replacing gold as an international hedge asset. In other news, payment services company Circle is considering issuing a stablecoin in Japan, following new legislation governing stablecoins that came into effect on June 1. Despite BCH's recent gains, the BCH/Korean won trading volume has seen a significant decline from $557 million to $303 million in the past week, indicating that Korean investors have reduced their BCH purchases.
<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/markets/2023/07/06/first-mover-americas-bitcoin-cash-largest-big-cap-gainer-as-cryptos-move-higher/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-5">CryptoQuant Parent Raises $6.5M Round Led by Atinum Investment </h2>
    <p>Data analytics platform CryptoQuant's parent company, Team Blackbird, has successfully raised $6.5 million in a Series A funding round, led by South Korean firm Atinum Investment. The CEO of Team Blackbird, Joo Gi-Young, emphasized the importance of reliable information and data analysis for speculative investments in digital assets, which are often viewed as risky. He asserted that CryptoQuant’s primary value lies in its ability to establish new investment methodologies and evaluation criteria for digital assets based on accurate data. The funds secured from this round will be allocated towards recruiting for both the company's South Korean and international operations. This latest funding round elevates the total capital raised by the company to $9 million, with past contributions coming from Galaxy Interactive and Mirae Asset Capital.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/business/2023/07/06/cryptoquant-parent-raises-65m-round-led-by-atinum-investment/">Read more</a></div></p></div>

Crypto Report - Thursday July 6th, 2023

<div class="d-none"><p>This article was generated by TOKERObot 🤖.</p></div><h2>Summary</h2><ol class="cryptoNewsReportSummaryList"><h2><a class="articleSummaryLink" href="#crypto-report-article-1">Hollywood Legend Steve McQueen Honored as 'King of Cool' in New NFT Collection</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-2">AI-Backed Blockchain Data Startup Web3Go Raises $4M</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-3">Crypto Custodian Cobo Argus Scores $100M in Value Locked One Week After Going Live</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-4">Why Lisbon Is Immunefi's Crypto Hub </a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-5">Israeli Lawmakers Support Axing Crypto Capital Gains Tax for Foreigners </a></h2></ol><br /><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-1">Hollywood Legend Steve McQueen Honored as 'King of Cool' in New NFT Collection</h2>
    <p>The McQueen Estate, in collaboration with Verified Labs, contemporary artist Michael Kalish, Triumph Motorcycles, and Immersive Entertainment Laboratories (IEL), is set to release a collection of 1,000 non-fungible tokens (NFTs) honoring Hollywood legend Steve McQueen on July 14. The NFTs, dubbed the “King of Cool Racing Team,” will be sold on the ThetaDrop platform and feature generative art collectibles that reflect McQueen's love for motorcycles. Each NFT includes a digital motorcycle shipping crate that reveals a virtual Triumph Bonneville T100 Motorcycle, granting the owner membership into the King of Cool Racing Team and access to future token-gated content. Additionally, each collectible comes with a 3D portrait of McQueen that can be viewed in greater detail using virtual reality. The project was inspired by a portrait Kalish created of McQueen with help from McQueen's grandson, Chase. McQueen's love for racing and his collection of Triumph motorcycles were well-known, mirroring his reputation as the "king of cool" both on and off the screen.
<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/web3/2023/07/05/hollywood-legend-steve-mcqueen-honored-as-king-of-cool-in-new-nft-collection/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-2">AI-Backed Blockchain Data Startup Web3Go Raises $4M</h2>
    <p>Web3Go, a Singapore-based blockchain firm providing artificial intelligence (AI)-backed data tools, has secured $4 million in a seed funding round. The round was led by Binance Labs and saw participation from HashKey Capital, NGC, Shima Capital, IVC, LIF, Big Brain Holdings, and Archerman Capital. Web3Go, an alumnus of a Binance Labs' incubation program, intends to leverage blockchain technology to simplify the verification of AI-native digital asset ownership and provide a range of data tools to facilitate the creation of these assets. The company's offerings include real-time data processing for on-chain and off-chain data computation and information flows, along with a digital curation protocol for ownership verification and data set and digital asset transfer. Web3Go is set to release its native asset creation platform, DIN, in beta by the end of this month. By the end of Q3, DIN will feature real-time on-chain trading data for users to generate AI-assisted trading information, strategies, and robots. Web3Go's data solutions are currently utilized by the BNB Chain and Polygon ecosystems.
<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/business/2023/07/05/ai-backed-blockchain-data-startup-web3go-raises-4m/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-3">Crypto Custodian Cobo Argus Scores $100M in Value Locked One Week After Going Live</h2>
    <p>Cobo, a crypto custodian firm, has announced that its Argus protocol has reached $100 million in locked customer funds within one week of launch, according to CEO Discus Fish. Cobo provides institutional clients, including banks, asset managers, crypto funds and mining pools, with secure storage for their token holdings and enables them to participate in decentralized finance (DeFi) activities. The recent release of Argus version 2 (V2) in late June introduced features like DeFi strategies authorization, team role delegation, and risk management. Built on Safe, a decentralized crypto wallet, Argus V2 supports all open-source DeFi protocols and allows traders to use DeFi bots for automatic farming rewards monetization, compounding, and token swapping. The term "farming" refers to earning rewards by depositing tokens into a decentralized application (dapp).
<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/business/2023/07/05/crypto-custodian-cobo-argus-scores-100m-in-value-locked-one-week-after-going-live/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-4">Why Lisbon Is Immunefi's Crypto Hub </h2>
    <p>In an interview with CoinDesk, Mitchell Amador, founder and CEO of bug bounty platform Immunefi, discussed why Lisbon, Portugal, is the company's main hub despite being incorporated in Singapore. While Immunefi operates remotely with team members across the globe, the majority of its workforce is located in Lisbon. Amador, a Canada-born crypto entrepreneur, chose Portugal for its social harmony, calm atmosphere, and quality of life. He advised other founders to establish their hubs where they live and to choose a healthy and sustainable environment. However, he also highlighted the importance of incorporating in a location conducive to business growth. Despite Singapore's stringent regulations and cautious stance towards crypto, he praised the country for its robust business infrastructure and reliable corporate documentation, likening it to Delaware in the US context. Amador concluded that while Singapore is an excellent place for business incorporation, Portugal provides a conducive environment for founders to thrive.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/consensus-magazine/2023/07/05/why-lisbon-is-immunefis-crypto-hub/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-5">Israeli Lawmakers Support Axing Crypto Capital Gains Tax for Foreigners </h2>
    <p>A bill offering tax benefits to Israel's cryptocurrency sector has received preliminary approval in the Knesset, Israel's parliament. If enacted, the law would exempt foreign residents from capital gains taxes on digital currency sales and halve the tax on crypto options for employees to around 25%. The proposal is backed by Prime Minister Benjamin Netanyahu's coalition government and aligns with his strategy to attract investors to Israel. The law aims to equalize the tax burden between traditional high-tech industry workers and those in the crypto sector, who currently pay double tax on their options. The move forms part of a broader effort by Israel to integrate cryptocurrency into its economy through regulation, including guidelines for digital assets and stablecoin requirements. Finance Minister Bezalel Smotrich has shown support for the bill, indicating Israel's embrace of cryptocurrency and aligning it with pro-crypto UK and European nations.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/policy/2023/07/05/israeli-lawmakers-support-axing-crypto-capital-gains-tax-for-foreigners/">Read more</a></div></p></div>

Crypto Report - Wednesday July 5th, 2023

<div class="d-none"><p>This article was generated by TOKERObot 🤖.</p></div><h2>Summary</h2><ol class="cryptoNewsReportSummaryList"><h2><a class="articleSummaryLink" href="#crypto-report-article-1">First Mover Asia: Bitcoin Crosses $31K After Spot BTC ETF Issuers Begin Refiling</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-2">Pepecoin Knockoffs Turn Dollars to Fortunes in Strange New ‘2.0’ Play</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-3">UK Lords Pass Bill to Help Seize and Freeze Crypto Used for Crime</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-4">Gemini's Cameron Winklevoss Tweets $1.5B 'Final Offer' in Debt Talks Over Crypto Firm Genesis</a></h2><h2><a class="articleSummaryLink" href="#crypto-report-article-5">Bitcoin, Ether Supply on Exchanges Fell in June: Goldman Sachs</a></h2></ol><br /><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-1">First Mover Asia: Bitcoin Crosses $31K After Spot BTC ETF Issuers Begin Refiling</h2>
    <p>Bitcoin began the Tuesday business day in Asia past the $31,000 mark at $31,153 as the world’s largest digital asset rallied following the refiling of several prospective bitcoin ETF applications. The refiling of these applications has spurred enthusiasm in the market, leading to a significant rise in the value of Bitcoin, which currently makes up nearly half of the industry's $1.2 trillion market cap. In contrast, prices of NFTs are becoming disconnected from the price of ether as trading volume decreases, with the Bored Ape Yacht Club's NFT collection hitting a new low since October 2021. Despite the rough year for crypto in 2022, data from Messari shows that 2023 has been much more successful. During the first half of this year, major crypto assets were up an average of 34% compared to a decline of 56% for the same period last year. Bitcoin is up 84.6% compared to a nearly 60% fall for the first half of 2022. Stand-out performers include Bitcoin Cash, up 203%, and Solana, up 93%.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/markets/2023/07/04/first-mover-asia-bitcoin-crosses-31k-after-spot-btc-etf-issuers-begin-refiling/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-2">Pepecoin Knockoffs Turn Dollars to Fortunes in Strange New ‘2.0’ Play</h2>
    <p>The recent trend in the cryptocurrency market involves betting on microcap tokens, which claim to be the successors of popular meme coins. New tokens such as pepe 2.0, floki 2.0, and bobo 2.0, imitating the well-known pepe, floki, and bobo tokens, have seen their trading volumes skyrocket into the millions of dollars, generating considerable liquidity and transforming minor investments into six-figure fortunes almost instantaneously. However, these tokens typically fade away within a few weeks. Despite this, anyone can issue tokens on blockchain platforms like Ethereum for a small cost, and they can be supplied with liquidity and traded almost immediately on decentralized exchanges. As of a recent Tuesday, pepe 2.0, the most popular of these knockoff tokens, had nearly $7 million traded in the past 24 hours and boasted a market capitalization of $18 million. Notably, one investor transformed a $900 investment in pepe 2.0 into over $176,000 in less than a day. Meanwhile, the original pepecoin (PEPE) continues to attract investors, extending gains of an approximately 80% rally over the past two weeks.
<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/markets/2023/07/04/pepecoin-knockoffs-turn-dollars-to-fortunes-in-strange-new-20-play/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-3">UK Lords Pass Bill to Help Seize and Freeze Crypto Used for Crime</h2>
    <p>The UK's Economic Crime and Corporate Transparency Bill, designed to aid law enforcement agencies in seizing and freezing cryptocurrency involved in criminal activity, has been passed by the House of Lords. The legislation underwent amendments to include terrorism cases and measures enabling authorities to seize property that could help identify crime-related crypto. The bill also allows courts to order the seizure and freezing of crypto used for illicit purposes. This development is part of the government's three-year economic crime agenda launched in March, which includes the introduction of crypto tactical advisors to police departments across the nation. Once the bill is ratified by the House of Commons, it will need royal assent to become law. The bill is a response to the growing misuse of cryptocurrencies and UK company structures for money laundering and other criminal activities. The move is welcomed by the National Crime Agency, viewing it as a significant step towards combating such abuses.
<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/policy/2023/07/04/uk-lords-pass-bill-to-help-seize-and-freeze-crypto-used-for-crime/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-4">Gemini's Cameron Winklevoss Tweets $1.5B 'Final Offer' in Debt Talks Over Crypto Firm Genesis</h2>
    <p>Cameron Winklevoss, Gemini crypto exchange co-founder, has made a "final offer" in debt-restructuring discussions involving bankrupt digital asset firm Genesis, proposing a plan for $1.5 billion in forbearance payments and fresh loans. This marks the climax of prolonged negotiations. Winklevoss' open letter to Barry Silbert, founder of Digital Currency Group (DCG) which owns Genesis and Grayscale, criticizes DCG's delay in devising a satisfactory repayment plan for Genesis creditors, including Gemini's Earn program users. DCG has reportedly defaulted on a $630 million payment to Genesis. Winklevoss' proposal, involving payments and loans in dollars, bitcoin, and ether totaling $1.465 billion, has a deadline set for 4 p.m. on July 6. Winklevoss accuses DCG of exacerbating resolution delays, inflating professional fees to over $100 million, all paid to lawyers and advisors at the expense of creditors and Earn users. According to Winklevoss, about $1.2 billion is owed to Earn users. Failure to accept this deal could result in lawsuits against DCG and Silbert, and possibly push DCG into default with a "non-consensual" debt-repayment plan.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/business/2023/07/04/geminis-cameron-winklevoss-tweets-15b-final-offer-in-debt-talks-over-crypto-firm-genesis/">Read more</a></div></p></div><div class="articleSummaryWrapper">
    <h2 id="crypto-report-article-5">Bitcoin, Ether Supply on Exchanges Fell in June: Goldman Sachs</h2>
    <p>In June, the supply of Bitcoin (BTC) and Ether (ETH) on exchanges decreased due to intensified regulations and security concerns, causing holders to favor self-custody, according to a report from Goldman Sachs. The supply of BTC fell by 4%, reaching its lowest level since December 2022, while the supply of ETH dropped by 5.8% to levels unseen since May 2018. Regulatory pressures, cyber attacks, and the rise of staked Ether withdrawals were cited as key reasons for this shift. Meanwhile, June marked a record month for Bitcoin miners' inventory sales, with total BTC inflows from miners to exchanges nearly doubling from May to $99 million as miners capitalized on the cryptocurrency's robust performance. Transaction fees normalized in June after network congestion in May, leading to a rebound in monthly address activity for both Bitcoin and Ether. The report also highlighted an increase in new on-chain activity, with the daily average new address count for Bitcoin and Ether rising by 9.8% and 48.2% respectively compared to the previous month.<br /><div class="readMoreButtonWrapper"><a class="whiteBtn" target="_blank" rel="noopener noreferrer nofollow" href="https://www.coindesk.com/markets/2023/07/04/bitcoin-ether-supply-on-exchanges-fell-in-june-goldman-sachs/">Read more</a></div></p></div>

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