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• Jun 11, 7:38 PM Crypto Briefing

  Tether plans $1 billion investment in startups by 2025, reveals CEO

  Tether, through its venture arm Tether Investments, will invest $1 billion in startups focusing on alternative financial infrastructure, artificial intelligence, and biotech by 2025. CEO Paolo Ardoino noted that the strategy aims to diversify holdings beyond their stablecoin, USDT, and build financial influence in emerging markets and technology sectors that challenge traditional finance models. This move aligns with Tether’s recent profitable streak and its plans to reduce reliance on major tech firms, despite facing past regulatory challenges.

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• Jun 11, 2:46 PM Crypto Briefing

  ASI Alliance postpones token merger to July 15

  The ASI Alliance, comprising Fetch.ai, SingularityNET, and Ocean Protocol, has rescheduled their token merger to July 15. Initially planned for June 13, the delay accommodates final technical and logistical preparations with partners, exchanges, and validators. This merger aims to combine FET, AGIX, and OCEAN into a single Artificial Superintelligence token (ASI), advancing their shared goal of creating a decentralized artificial intelligence network.

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• Jun 11, 8:04 AM Crypto Briefing

  ZKSync announces major token airdrop to boost community engagement

  ZKSync, an Ethereum-based Layer 2 solution by Matter Labs, will distribute 17.5% of its ZK token supply, totaling 3.7 billion tokens, to approximately 695,000 wallets. This airdrop, set to start next week, is valued at over $2.5 billion and is part of a broader strategy to allocate two-thirds of all ZK tokens to the community. Eligibility for the airdrop is based on users' interactions with the ZKSync network prior to March 24. The airdrop aims to enhance participation in protocol governance and marks a significant community-focused financial move by ZKSync.

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• Jun 10, 9:13 PM Cointelegraph

  SEC reviews ProShares' spot Ether ETF application following recent approvals

  The SEC is currently evaluating a spot Ether ETF application from ProShares, submitted to NYSE Arca, with a public comment period set for 21 days. This follows the SEC’s recent approval of spot Ether ETFs from eight asset managers. The decision on ProShares' application, which could align with the launch of other recently approved ETFs, is anticipated to occur within the next few months.

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• Jun 10, 2:40 PM Crypto Briefing

  UwU Lend loses $19.3M in crypto exploit

  UwU Lend, a decentralized finance (DeFi) protocol, faced a $19.3 million exploit involving tokens like wrapped ether and Bitcoin. The funds were stolen from a single wallet and largely traded on Uniswap. This security breach highlights vulnerabilities in UwU Lend's systems, despite its reliance on audited smart contract code from AAVE V2. The incident has occurred amid previous controversies associated with its co-founder Michael “Sifu” Patryn, raising further concerns over the platform's safety measures.

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• Jun 10, 2:31 PM Crypto Briefing

  Bitcoin ETFs experience significant inflows as investors anticipate US rate cuts

  Crypto investment products, led by Bitcoin ETFs, registered a remarkable $2 billion inflow in June, driven by investor optimism over potential US rate cuts. Over the last five weeks, Bitcoin-focused investments accumulated $4.3 billion, while Ethereum and certain altcoins like Fantom and XRP also reported increased inflows. This surge in investment is correlated with expectations of softer US macroeconomic policies, pushing the total crypto assets under management above the $100 billion mark for the first time since March.

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• Jun 10, 11:32 AM Crypto Briefing

  Solana Foundation expels validators for engaging in sandwich attacks

  The Solana Foundation has ousted several validators from its delegation program for participating in sandwich attacks, which exploit users by manipulating transaction orders for profit. This decision complements the foundation's commitment to uphold network integrity and protect retail users from such malicious activities. Validators involved in these front-running tactics will no longer receive SOL tokens from the foundation, although they can still operate independently on the permissionless network.

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• Jun 7, 11:46 AM Crypto Briefing

  CoinGecko reports data breach via third-party email platform

  CoinGecko, a prominent crypto data aggregator, confirmed a data breach involving unauthorized access to nearly two million contacts through its third-party email platform, GetResponse, on June 5, 2024. The breach led to phishing attacks but did not compromise user passwords or accounts. CoinGecko has alerted affected individuals and advised the crypto community to be vigilant against phishing and unauthorized token airdrops, enhancing security measures in response.

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• Jun 6, 10:50 PM Crypto Briefing

  GME meme coin soars 97% after RoaringKitty announces upcoming livestream

  The Solana-based meme coin GameStop (GME) surged 94% in the last 24 hours and 395% over the past week, driven by a livestream announcement from investor RoaringKitty. This increase led GME token's recent performance to surpass all other Solana meme coins, as well as influencing significant gains in related tokens such as Roaring Kitty (KITTY) and Deep F*cking Value (DFV). The rising interest has pushed the total market cap for Solana meme coins close to $10 billion.

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• Jun 6, 6:55 PM Crypto Briefing

  Franklin Templeton plans to introduce altcoin fund with staking rewards

  Asset management giant Franklin Templeton is exploring the launch of a new private fund aimed at institutional investors, focusing on alternative cryptocurrencies (altcoins) and staking rewards. This potential expansion follows Franklin Templeton's established ventures in cryptocurrency, which include a spot Bitcoin ETF and an upcoming Ether ETF with SEC approval pending. Additionally, the firm recently enabled investments via USD Coin on its Benji Investments platform, further integrating crypto solutions into its offerings.

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• Jun 6, 6:30 PM Crypto Briefing

  Kraken plans to raise over $100M before potential IPO

  Kraken, a major crypto exchange, is seeking to raise over $100 million in pre-IPO funding amid growing interest in the crypto market and potential regulatory relaxations in the US. The exchange aims to bolster its mission of promoting global crypto adoption and is eyeing an initial public offering as early as next year, contingent on strategic board appointments and successful fundraising. This move follows Kraken's previous regulatory challenges and a recent positive shift in US regulatory attitudes towards crypto.

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• Jun 6, 5:46 PM Crypto Briefing

  ECB rate cut prompts potential rise in Bitcoin and Eurozone stablecoins

  The European Central Bank (ECB) has reduced interest rates to 3.75%, marking its first cut in five years. This decision, said to stimulate economic growth amidst slowdown signals in the Eurozone, could increase crypto demand as investors look for higher yields. Crypto experts believe lower rates will make high-risk assets like crypto more appealing, potentially boosting Bitcoin and influencing the stablecoin sector significantly, especially with upcoming MiCA regulations.

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• Jun 6, 2:24 PM Crypto Briefing

  Binance resumes card payments for crypto purchases amid regulatory challenges

  Binance has reinstated the ability for customers to buy crypto using Visa and Mastercard, with limits up to 5,000 euros for EUR transactions and $20,000 for USD transactions. This move follows a period where these services were suspended due to regulatory pressure, including the closure of Binance's Visa debit card in the EEA and severed partnerships with payment processors. Despite facing lawsuits from US regulatory bodies like the SEC and CFTC, Binance is continuing to provide convenient purchasing options on its platform.

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• Jun 6, 11:53 AM Crypto Briefing

  Robinhood announces $200 million acquisition of Bitstamp to boost global presence

  Robinhood Markets has confirmed its acquisition of Bitstamp, a prominent UK-based crypto exchange, for approximately $200 million, marking its largest purchase yet. This strategic move is aimed at transforming Robinhood into a comprehensive financial services entity, enhancing its competitive edge against major rivals like Coinbase and Binance. The acquisition, set to finalize in the first half of 2025, intends to expand Robinhood's footprint in the EU and globally, despite facing regulatory hurdles in the US.

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• Jun 6, 11:13 AM Crypto Briefing

  Hong Kong SFC chief comments on Bitcoin’s resilience and new crypto licensing laws

  Julia Leung, the chief executive of the Hong Kong Securities and Futures Commission (SFC), has recognized Bitcoin's resilience as an alternative asset with significant staying power, despite the skepticism about its intrinsic value. In the backdrop of Hong Kong launching a licensing framework for crypto trading platforms, Leung also highlighted the strict regulations that some argue deter global exchange participation and impact investor confidence negatively. Additionally, the SFC's efforts extend to regulating stablecoins and advancing the Web3 ecosystem while maintaining investor safeguards.

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