🥶 $740 Million in Token Unlocks Coming

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What’s Poppin’?

by Sage Young and Sam Sriram

Over $740 Million Worth of Tokens to Unlock in Next 30 Days

Over 40 crypto protocols such as Arbitrum, Optimism, Starknet, Aptos, will unlock large amounts of tokens, previously restricted to prevent early investors and team members from selling en masse.

Ethena Updates Tokenomics, Requires ENA Airdrop Recipients to Lock 50% of Tokens

Users that receive ENA via an airdrop will be required to lock up half those tokens within Ethena, Pendle Finance or generalized restaking pools.

ZkSync Users Claim $630 Million Tokens in First Ten Hours of Airdrop

About a third of the top 10,000 addresses, including two of the top three claimers who each received over 5.6 million tokens’ worth, still hold their entire ZK airdrop allocation.

Daily Bits… ✍️✍️✍️

• ⚖️ The SEC opposed Ripple's attempt to reduce its proposed $2 billion fine, arguing that the circumstances differ significantly from the recent Terraform settlement.

• 💸 FTX bankruptcy victims filed to recover $8 billion in forfeited assets, claiming the bankruptcy process feels like a "second act of theft."

• 💰 Tether introduced Alloy, a new platform on the Ethereum network that allows users to mint synthetic tokens collateralized by Tether's tokenized gold (XAUT), as part of its upcoming tokenization venture.

• 📈 Coinbase announced a new feature for Coinbase Advanced users, offering pre-launch perpetual futures trading for tokens still in their pre-token generation event (TGE) stage.

• 🚫 Former SEC crypto asset chief David Hirsch denied rumors of joining Pump.fun, after resigning from the agency yesterday.

• 📉 The Trump token DJT dropped 31% amid rumors of an official launch, however, blockchain analytics firms doubted its legitimacy and Trump’s team did not confirm involvement with the token.

Today in Crypto Adoption...

• 🇦🇺 The Australian Securities Exchange approved its first spot bitcoin ETF from VanEck, set to launch on June 20, marking a significant step for crypto ETFs in the region.

The $$$ Corner…

• 💸 Wasabi, a memecoin and NFT leverage trading protocol, raised $3 million in a seed round led by Electric Capital.

What Do You Meme?

📈 Your Market Update 📉

• BTC is down 0.5%, trading at $65,426

• ETH is down 2.3%, trading at $3,425

• BTC dominance: 51.12%

• Crypto market cap: $2.48T

*All data as of today, 06:14 am ET. Source: CoinGecko

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