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• Jun 18, 2:00 PM Crypto Briefing

  zkSync sees over 71% of top holders sell after token airdrop

  Following the airdrop of zkSync tokens, over 71% of the top 10,000 recipients sold their tokens, either partially or completely, within 30 hours. Nansen's data shows 4,113 addresses liquidated their entire stake, releasing over 347 million ZK tokens into the market. Additionally, 3,033 wallets sold nearly 150 million tokens. In contrast, 28.5% of these addresses chose to retain their tokens, possibly influenced by zkSync's competitive fully diluted value in comparison to other Ethereum layer-2 solutions. Current market metrics suggest potential future price increases, reflecting past patterns observed in similar airdrops.

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• Jun 17, 8:25 PM PR Times

  Animoca Brands Japan introduces NFT platform SORAH with exclusive collections

  Animoca Brands Japan, a subsidiary of Animoca Brands, has launched a new NFT trading platform called "SORAH by Animoku Brands Japan." This platform debuted with exclusive NFT collections including "San FranTokyo Visions," "Captain Tsubasa Team Collection," and "SHIBUYA109 FASHION COLLECTION," and offers a free "SORAH Membership NRT" to promote ease of access and exclusive benefits for users. The platform aims to serve as a Web3 gateway, facilitating the global exchange of prominent Japanese content and enhancing Japan's role in the Web3 ecosystem.

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• Jun 17, 5:28 PM The Block

  Coinbase introduces trading in pre-launch markets for select traders

  Coinbase has launched a pre-launch markets feature through its international and advanced exchanges, enabling certain institutional and retail traders to trade perpetual futures contracts on crypto tokens before their official release. This new offering, designed for markets outside the US, Canada, and the UK, allows traders to speculate on the values of upcoming crypto projects. The initiative uses a unique pricing mechanism, different from standard perpetual futures, and caps leverage at 2x with a position limit of $50,000 notional value, highlighting a cautious approach to manage risk in these volatile trading conditions.

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• Jun 17, 12:42 PM Crypto Briefing

  Tether launches Alloy, a new gold-backed digital asset

  Tether introduced Alloy, a new digital asset backed by its Tether Gold and pegged to the US dollar, aimed at blending the stability of gold with digital currency benefits. Alloy allows users to mint tokens using Tether Gold as collateral on the Ethereum mainnet, facilitating diverse asset management opportunities. This innovation is part of Tether's broader strategy to expand beyond traditional crypto products into areas like education, AI, data, and Bitcoin mining, while investing $1 billion in startups by 2025.

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• Jun 17, 6:00 AM Crypto Briefing

  Binance lists ZKsync trading pairs amid airdrop criticisms

  Binance has announced the listing of ZKsync trading pairs and a new token distribution program aimed to address growing concerns from the crypto community. The criticism focuses on the ZKsync token airdrop’s fairness and susceptibility to Sybil attacks, which compromise airdrop integrity by allowing users to create multiple fake accounts. In response to these issues, Binance is offering a giveaway program, distributing 10.5 million ZK tokens to select users who meet specific transaction criteria within the ZKsync Era transactions.

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• Jun 17, 2:03 AM Scroll_ZKP

  Scroll set to launch native token NURI for its DEX on June 19

  Scroll has revealed plans to introduce its native token, NURI, for its decentralized exchange (DEX), Nuri Exchange, on June 19. The launch will incorporate features from Uniswap v3, focusing on enhanced security, governance, and incentives, aimed at optimizing the exchange for high-frequency liquidity providers (LPs) and layer 2 (L2) scalability. This move is expected to significantly influence the decentralized finance (DeFi) landscape.

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• Jun 17, 1:45 AM WSJ

  Stablecoins may stabilize US debt by boosting Treasury purchases

  Amid an impending national debt crisis driven by unsustainable entitlement programs, stablecoins present a new fiscal opportunity. Backed by the US dollar and secured by blockchain technology, stablecoins are emerging as significant purchasers of US government debt, now standing just outside the top ten countries in holdings. This growth highlights their potential role in supporting the dollar's dominance as the primary international reserve currency, amidst increasing global digital financial shifts and challenges from international competitors like China.

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• Jun 16, 1:31 PM Decrypt

  Tether co-founder discusses new crypto ETFs and Wall Street's influence

  Tether and WAX co-founder William Quigle predicts a continued rise in crypto ETFs following the successful launch of spot Bitcoin and Ethereum funds in the US. Quigley highlights Wall Street's profit-driven strategy as a catalyst for the development of additional crypto ETFs, despite potential risks associated with mainstream financial market integration. He expects traditional finance to keep pushing these products until a market pullback prompts a reassessment.

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• Jun 16, 12:01 PM Bitcoin Sistemi

  Biden administration to host crypto policy roundtable with Mark Cuban and lawmakers

  In early July, key figures from the Biden administration, including entrepreneur Mark Cuban and lawmakers from both houses, will convene in a roundtable organized by Rep. Ro Khanna to discuss crypto policies. This meeting, aimed at fostering Bitcoin and blockchain innovations, underscores crypto's growing significance in US economic and political spheres, especially as the 2024 presidential elections near.

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• Jun 15, 7:18 PM Beincrypto

  Tether's USDT serves over 300 million global users, reveals CEO Paolo Ardoino

  Tether CEO Paolo Ardoino highlighted USDT's critical role in global finance, particularly in emerging markets where it aids over 300 million users by providing stable, digital dollar access, enhancing efficiency in money transfers and storage. This positions Tether among the top buyers of US Treasury Bills, reflecting its substantial impact on international monetary systems and its prominent market cap which dominates the stablecoin sector.

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• Jun 14, 10:47 PM Hand-Picked

  Ethereum spot ETFs to start trading July 2nd

  Ethereum spot ETFs are poised to begin trading on July 2, following tentative approval from the SEC, which requested responses on S-1 filings within a week. This move, expected to clear the path for trading starting the holiday weekend, aligns with indications from SEC Chair Gary Gensler about potential summer approvals. The launch is likely to draw significant institutional investment, with projections of up to $45 billion in inflows in the first year and a possible 60% rise in Ethereum prices, mimicking the impact seen with Bitcoin spot ETFs.

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• Jun 14, 2:52 PM Beincrypto

  Bernstein boosts Bitcoin target by 30%, rates MicroStrategy as outperform

  Bernstein, a leading brokerage firm, has initiated coverage for MicroStrategy's stock with an 'outperform' rating and set a price target at $2,890. The firm has increased its Bitcoin price target by 30% to $200,000 by the end of 2025, citing the potential benefits of MicroStrategy’s long-term investment in Bitcoin and its strategy of leveraging convertible debt. MicroStrategy holds a significant position in Bitcoin, planning further acquisitions through a $500 million bond sale.

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• Jun 14, 1:09 AM Cryptoslate

  Coinbase criticizes SEC's increased budget request as enforcement-heavy

  Coinbase has condemned the SEC's $2.6 billion budget proposal for 2025, especially criticizing the $812.4 million earmarked for enforcement, representing an increase from the previous year. Coinbase argues this strategy emphasizes regulation by enforcement rather than providing clear crypto regulations. Concurrently, the American Securities Association (ASA) has appealed to the US government to reduce the SEC's budget, insisting on prioritizing investor protection and market fairness over expansive enforcement policies.

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• Jun 13, 2:47 PM Crypto Briefing

  Ethereum ETF trading approval likely by this summer: SEC’s Gensler

  SEC Chairman Gary Gensler has suggested that the Ethereum ETF S1 approval could be expected by this summer. Following the rapid approvals of Bitcoin ETFs, the anticipation for Ethereum ETFs has increased, with key players like VanEck and BlackRock awaiting detailed S1 form clearances. Analyst Eric Balchunas even projects a possible approval by July 4, 2024.

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• Jun 13, 11:30 AM Crypto Briefing

  MicroStrategy plans to boost Bitcoin holdings with new $500 million bond sale

  MicroStrategy is set to increase its Bitcoin portfolio through a $500 million offering of convertible senior notes, intended for institutional buyers, with an additional option for $75 million. These unsecured senior obligations, maturing in 2032, may be converted into cash, MicroStrategy stock, or a mix of both. This move marks the company's third major convertible notes initiative in 2024, aiming to expand its already substantial Bitcoin holdings of 214,440 coins valued at approximately $14.4 billion.

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