Mt.Gox Starts Repayments
Will Robinhood List Crypto Futures?
Weekly Stats
Bitcoin: $55,282.15 (-12.74%)
Bitcoin Market Dominance: 54%
Global Crypto Market Cap: $2.02T
Ethereum: $2,905.58 (-16.66%)
Ethereum Market Dominance: 17.2%
Total Value Locked: $83.86B
NFT Sales Volume: $97,376,776 (-1.94%)
Crypto Fear and Greed Index: 36
Coins of the Week
Top Gainer — Mantra
The top gainer of this week is Mantra, with a surge of more than 8% in the last seven days. The bullish sentiment was driven by the recent strategic partnership with MAG, a prominent UAE developer with a more than $5 billion real estate portfolio. The companies will tokenize $500 million worth of real estate together.
Top Loser — Ethena
Ethena is the top loser of this week, with a loss of more than 31% in the last seven days. The downtrend of ENA was probably caused by a larger bearish sentiment in the market as most altcoins are bleeding for more than a week.
Top 3 News
Mt Gox Starts Making Repayments — Link
Mt Gox’s rehabilitation trustee said on Friday that it started repaying some creditors in Bitcoin and Bitcoin Cash. The trustee said the repayments are made through one of the designated crypto exchanges based on the rehabilitation plan.
Circle Earns License to Issue Stablecoins Under MiCA — Link
Circle is the first global stablecoin issuer to become compliant with MiCA, effective July 1. Circle will be able to issue stablecoins USDC and EURC under Europe’s stringent crypto regulatory framework.
Robinhood Looking to List Crypto Futures — Link
Robinhood wants to launch CME-based Bitcoin and Ether futures in the US and use Bitstamp’s licenses to offer perpetual futures in Europe. It is set to acquire Bitstamp in a $200 million deal expected to close in the first half of 2025.
Top Bitcoin News
Genesis Digital Assets Considers US IPO — Link
Bitcoin mining firm Genesis Digital Assets is weighing options for a potential initial public offering in the US. The firm is consulting with advisers on a potential IPO and plans to launch a pre-IPO funding round that could take place in the coming weeks.
Bitcoin Could Hit ATH in August — Link
Bitcoin’s price could hit a new all-time high in August, followed by an increase to $100,000 by the time of the U.S. presidential election in November, according to Standard Chartered.
Bitfarms Mined 189 Bitcoin in June — Link
Bitfarms mined 189 Bitcoin last month and sold 134 for $8.8 million. The company now holds 905 Bitcoin in its treasury.
Metaplanet Buys More Bitcoin — Link
Japanese investment firm Metaplanet announced shortly after the Tokyo Stock Exchange closed on Monday that it had purchased an additional 20.195 BTC for $1.2 million.
Top Layer 1 News
Flare Connects to Over 70 Blockchains — Link
The data-focused blockchain Flare has been integrated into the cross-chain messaging platform LayerZero. The move allows Flare to access Layer 1 networks such as Ethereum and Solana, in addition to over 70 other blockchains.
Aptos Proposes Deploying Aave V3 on Aptos Network — Link
The Aptos Foundation, an organization supporting the development of Layer 1 blockchain Aptos, has proposed deploying a version of Aave V3, the open-source liquidity protocol governed by the Aave DAO, on the Aptos mainnet.
Aptos Launches Keyless Wallets — Link
The Aptos blockchain has launched a web-hosted keyless wallet application that uses ZK-proofs to verify users. Called “Aptos Connect,” the new wallet allows users to connect to decentralized applications using a Google login without needing hardware security modules.
Vitalik Buterin Proposes Faster Ethereum Trades — Link
Ethereum co-founder Vitalik Buterin is looking to speed up transactions on the Ethereum network by using tools that would potentially cut layer-1 confirmations from a few seconds to milliseconds.
Top DeFi News
Consensys Acquires Wallet Guard — Link
MetaMask developer Consensys has acquired the crypto security app Wallet Guard in a deal designed to bolster the popular non-custodial Web3 wallet’s security. Wallet Guard offers a popular browser extension that can be used to identify scams and wallet drainers in real-time.
Symbiotic Crosses $1B in Deposits — Link
The total value locked in the restaking protocol Symbiotic has surpassed $1 billion. The project noted that it hit its deposit limit of 210,600 wrapped stETH worth about $800 million. This increase pushed user deposits to over $1.04 billion in less than a month.
Pendle’s TVL Drops 40% — Link
Pendle saw a 40% decrease in its total value locked, dropping from $6.18 billion on June 27 to $3.7 billion currently. The decrease in TVL is mainly attributed to certain liquid restaking markets, which matured on June 27.
Pump.fun’s Cumulative Revenue Crosses $50M — Link
Solana-based memecoin launchpad Pump.fun’s cumulative revenue has crossed $50M. So far, over 1.18 million memecoins have been deployed via pump.fun
Top Exchanges News
ByBit’s Market Share Continues to Soar — Link
The crypto exchange is on pace to be the second-largest spot exchange by volume for the fifth month in a row, accounting for 10.6% of volumes across exchanges, its highest market share ever. In September 2022, its share was just 3%.
South Korean Exchanges Plan to Reevaluate 1,300 Tokens — Link
South Korea’s 20 crypto exchanges and their representative body jointly established a new code of conduct for local cryptocurrency firms on Tuesday. This will entail a reevaluation of over 1,300 cryptocurrencies already being traded on domestic platforms.
US Marshals Picks Coinbase to Custody Its Assets — Link
The U.S. Marshals Service is paying $32.5 million for a custody contract with Coinbase Prime. The agency, which is part of the Department of Justice, said it chose Coinbase Prime to provide custody and “advanced trading services” for large-cap digital assets.
Bitfinex Securities to Launch Two New Tokenized Bonds — Link
Bitfinex Securities is set to launch two new tokenized bonds on the Bitcoin sidechain, the Liquid Network, as part of an ongoing issuance program with Alternative, the securitization fund of Luxembourg-based microfinance group Mikro Kapital.
CoinDCX Crypto Exchange Acquires BitOasis — Link
India’s largest cryptocurrency exchange, CoinDCX, has acquired BitOasis, a virtual asset trading platform operating in the Middle East and North Africa region. The acquisition marks CoinDCX’s first step into the MENA market.
Top Crypto Adoption News
Ant Group Expands Blockchain Units’ Registered Capital — Link
Ant Digital Technologies, the blockchain arm of Alibaba’s fintech affiliate Ant Group, has expanded the registered capital for two subsidiaries as the Chinese conglomerate continues its blockchain drive.
CertiK Migrates Blockchain Applications to Alibaba Cloud — Link
Blockchain security firm CertiK migrated its cloud infrastructure in Asia to a cloud computing subsidiary of Chinese e-commerce giant Alibaba. As part of the deal, CertiK will host its suite of 12 blockchain apps on Alibaba Cloud and use its cloud resources to provide Web3 services.
Philippines Adopts USDT for Social Security Payments — Link
The world’s largest stablecoin issuer, Tether, has introduced a new crypto payment option for citizens of the Philippines, allowing them to pay their Social Security System contributions in USDT. In the Philippines, the Social Security System is a state-run social insurance program that serves employees in the official, informal, and private sectors.
Tangem Introduces Visa-Integrated Crypto Wallet — Link
Cryptocurrency wallet firm Tangem is collaborating with Visa to bring self-custody and mainstream payments together. Tangem has partnered with Visa to introduce a new hardware wallet technology integrated with Visa payment cards.
Top NFT, Gaming, and Web3 News
3AC Wallet Buys NFT Due to Bid Placed 3 Years Ago — Link
A wallet address belonging to bankrupt crypto hedge fund Three Arrows Capital managed to buy an NFT on Friday morning due to a bid placed nearly three years ago seemingly missed by its liquidators. The 3AC wallet bought “Neon Village” from the “Ninja Village” NFT collection.
Top Partnerships News
Fidelity, Sygnum Partner with Chainlink — Link
Decentralized computing platform Chainlink announced a collaboration with Fidelity International and crypto bank Sygnum on a project to bring net asset value data onchain.
Uniswap Wallet Brings on Transak — Link
Web3 payment infrastructure provider Transak has partnered with Uniswap Labs to serve as a fiat on-ramp partner, facilitating fiat purchases of crypto directly in the Uniswap Wallet.
Gemini Partners with Red Bedford — Link
Crypto exchange Gemini has signed a five-year sponsorship agreement with Real Bedford football club, co-owned by Peter McCormack. The deal will be paid upfront in Bitcoin and aims to support the club’s success and enhance opportunities for local children.
Deutsche Telekom Joins Subsquid Decentralized Network — Link
T-Mobile Deutsche Telekom MMS has partnered with Subsquid, a decentralized data platform, to run dedicated worker nodes in Subsquid’s decentralized “data lake.” The collaboration aims to improve the security and efficiency of blockchain data retrieval and delivery.
Top Hacks and Scams
Insider Trading Allegations Hit Smash Token — Link
Most of Khamzat Chimaev’s Smash cryptocurrency is held by insiders and developer wallets, raising insider trading concerns for yet another celebrity memecoin. Smash is a Solana-based memecoin launched by the popular mixed martial artist and UFC contender Chimaev.
Sydney Sweeney’s X Account Hacked — Link
The X account of actress Sydney Sweeney was hacked, with now-deleted posts promoting a token bearing her name in an apparent pump-and-dump scheme. The Solana-based token SWEENEY amassed over $10M in trading volume within two hours of its launch on July 2.
Ethereum Foundation Email Hacked — Link
On June 23, the Ethereum Foundation’s “update” email account was hacked and used to promote a phishing scam. The foundation has recovered the account, and the malicious emails are no longer being sent out.
Crypto Hacks Down by 54.2% in June — Link
May was the biggest month in terms of crypto losses in 2024 so far, with nearly $385 million in net losses suffered from crypto hacks.
Top Legal and Regulation News
Expedited Schedule for SEC’s Case Approved — Link
A Texas judge has implemented the schedule for the SEC case against blockchain software firm Consensys. Legal proceedings are slated to occur between July 29 and November 26, suggesting that a decision for the SEC’s case against Consensys could end in early 2025.
Paxos Receives Approval to Issue Stablecoins in Singapore — Link
Paxos received approval from Singapore’s central bank to offer certain services that will ultimately allow the firm to issue stablecoins that are compliant with the country’s stablecoin framework.
Binance.US ‘Prepared’ for SEC Legal Showdown — Link
Binance.US, the United States-based arm of the global cryptocurrency exchange Binance, is gearing up for legal battles with the Securities and Exchange Commission.
UK High Court Freezes Craig Wright’s Assets — Link
Legal documents filed on July 5 revealed that the High Court of the United Kingdom issued a World Freezing Order against computer scientist and businessman Craig Wright’s assets.
Bitget in Active Discussions to Obtain India License — Link
Major cryptocurrency exchange Bitget is working with Indian regulators to obtain the licensing required to serve the market in compliance with local laws. Bitget has been actively discussing with India’s Financial Intelligence Unit to obtain Virtual Asset Service Provider registration.
Top Stablecoin News
Justin Sun Teases Gasless Stablecoin — Link
Tron founder Justin Sun announced plans on X to develop a stablecoin that users can transfer back and forth without paying gas fees. Instead, the gas fees will be “entirely covered by the stablecoins themselves.”
Aave DAO Launching GHO on Arbitrum — Link
Aave’s decentralized autonomous organization is launching its GHO stablecoin on the Arbitrum blockchain as part of its “cross-chain expansion strategy.”
Top Fundings
OpenLedger Raises $8M — Link
The Web3 AI firm raised $8 million in a seed round led by Polychain Capital and Borderless Capital. OpenLedger builds permissionless, data-focused infrastructure for artificial intelligence development.
Prodia Raises $15M — Link
The distributed cloud computing firm Prodia raised $15 million in seed funding led by Dragonfly Capital. Prodia builds a distributed network of GPUs and uses Web3 infrastructure to provide more efficient cloud computing services at a lower cost.
Compute Labs Raises $3M — Link
Compute Labs, the developer of a Solana -based GPU tokenization protocol, has raised $3 million in a pre-seed funding round. Compute Labs is building a real-world asset tokenization protocol focused on computing as its underlying asset.
RedStone Raises $15M — Link
RedStone, a modular blockchain oracle provider, has raised $15 million in a Series A funding round led by Arrington Capital. RedStone is a blockchain oracle similar to popular oracles like Chainlink and Pyth Network, but it differentiates itself with a modular design.
Iris Energy Raised $413M — Link
Iris Energy, an Australia-headquartered Bitcoin mining firm, has recently raised about $413.4 million ̌̌through stock offerings to fund expansion after Bitcoin’s halving event.
Mamori Raises $5M — Link
The blockchain startup Mamori raised $5 million in Blockchain Capital-led seed funding. Mamori aims to augment web3 security by developing an algorithm that can find issues in blockchain-based software.
Next Week’s Events
China Inflation Rate — Link
China’s annual inflation rate was at 0.3% in May 2024, holding steady for the second straight month while falling short of market forecasts of 0.4%. It was the fourth straight month of consumer inflation, signaling an ongoing recovery in domestic demand.
United States Inflation Rate — Link
Consumer prices in the US were unchanged in May 2024 after rising 0.3% in the previous period and below forecasts of a 0.1% increase. The energy index fell 2% over the month, led by a 3.6% decrease in the gasoline index.
United States Producer Price Inflation — Link
Factory gate prices in the US went down 0.2% mom in May 2024, compared with market expectations of a 0.1% increase and after a 0.5% rise in April. Prices for goods fell 0.8 percent, the most since October 2023.
Chromia to Launch Mainnet — Link
ChromaWay, the firm building out the Layer 1 blockchain network Chromia, intends to launch a minimum viable product version of its mainnet on July 16 to establish the network’s core functions.
Xai Token Unlock — Link
On July 9, Xai will unlock 198M $XAI tokens worth more than $70M.
IMX Token Unlock — Link
On July 12, ImmutableX will unlock 32M $IMX tokens worth more than $43M.
APT Token Unlock — Link
On July 12, Aptos will unlock 11M $APT tokens worth more than $67M.
