What’s Poppin’?
by Samyuktha Sriram
Bankrupt crypto lender Celsius proposed distributing $1 million from the sale of GK8 to Series B holders, with $24 million allocated toward legal expenses.
A wallet address with 61,216 ETH has transferred the entire balance to crypto exchange Kraken after eight years of inactivity.
The ERC-20 tokens awarded to users, along with virtual goods like avatars can now be freely traded.
The zero-knowledge proof scaling solution made its rollup and ETH bridge accessible for developers as part of its mainnet Alpha launch.
On the Pod…
XRP isn’t itself a security; it depends on how it’s sold. So said a federal judge last Thursday in the SEC vs. Ripple case and the implications are significant.
Jake Chervinsky, chief policy officer at the Blockchain Association, and lawyer Kayvan Sadeghi, partner at Jenner & Block, join the show to discuss two major ramifications. One: U.S. District Judge Analisa Torres dealt a major blow to the legal theory underpinning the SEC’s case against Coinbase. Two: This order really “lights a fire” under U.S. lawmakers to act on a pair of crypto bills in Congress.
Daily Bits…✍️✍️✍️
🚔 The U.S. Secret Service confiscated funds from Bahamian bank Deltec due to a fraud investigation.
⏰ The U.S. spot Bitcoin ETF process for approval or rejection is set to commence, with eight applicants listed on the federal register.
📲 Messaging app Telegram issued $270 million in bonds to fuel its expansion.
💲 Arkham's token debuted at $0.75 after being sold for $0.05 in Binance Launchpad.
🎬 Actor Ben McKenzie faced criticism for his negative stance on cryptocurrencies and for trying to profit from shorting the sector.
🛡️ Crypto insurer Evertas acquired Bitcoin mining cover specialist BitSure.
📉 Venture capital funding in Web3 technology saw a 76% decrease, according to Crunchbase data.
🕵️ Arkham's “dox-to-earn” platform offered a bounty for information on the $415 million FTX mystery.
🔁 Rep. Ritchie Torres urged the SEC to refocus its crypto efforts following the Ripple decision.
⛏️ TeraWulf plans to increase its Bitcoin mining capacity with new Bitmain hardware.
The $$$ Corner…
🚀 Polychain Capital secured $200 million in funding for its fourth venture capital fund.
💰 Web3 investor CoinFund raised $158 million for early crypto backing.
🌐 Metaverse startup Futureverse garnered $54 million in a Series A funding round led by 10T Holdings and Ripple Labs.
🏠 DeFi mortgage startup PWN raised $2 million in funding.
Bringing institutional-grade financial products on-chain, starting with the tokenization of US Treasuries and money market funds.
What Do You Meme?
Learn 🤓
NFT staking enables token holders to earn rewards for “locking up” their NFTs, adding a new layer of utility to non-fungible tokens.
📈 Your Market Update 📉
BTC is down .1%, trading at $29,991
ETH is up .2%, trading at $1,908
BTC dominance: 46.69%
Crypto market cap: $1.25 trillion
*All data as of today, 7:10 am ET
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