The Web3 Studios Newsletter

News and Trends - 6/25/24

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Web3 Studios, LLC
June 25, 2024

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Bitcoin Plunges Below $63,000 as Markets Tumble - Decrypt

Bitcoin plunges below $63,000 as markets tumble. The global cryptocurrency market cap is down 4% in the past day.

decrypt.co/236720/bitcoin-plunges-below-63000

Mt. Gox to distribute $9 billion of bitcoin, bitcoin cash repayments from beginning of July

Mt. Gox is set to begin distributing bitcoin and bitcoin cash repayments from July, according to the Rehabilitation Trustee.

www.theblock.co/post/301448/mt-gox-to-distribute-9-billion-of-bitcoin-bitcoin-cash-repayments-from-beginning-of-july

CoinShares says 'true correction' underway after $544 million outflow from spot Bitcoin ETFs last week

The Bitcoin ETF outflows were “a reaction to the pessimism amongst investors for interest rate cuts by the FED this year,” a CoinShares analyst said.

www.theblock.co/post/301518/coinshares-true-correction-bitcoin-etf-outflows

How this bitcoin bull market stacks up against the others

Bitcoin has been in a bull market for 19 months. If March wasn’t the top, that is.

blockworks.co/news/bitcoin-bull-markets-comparison

Japanese firm Metaplanet Inc. to buy bitcoin worth $6.3 million through bond issuance

The Tokyo-listed investment firm plans to purchase 1 billion yen worth of bitcoin with the capital raised through an upcoming bond issuance.

www.theblock.co/post/301386/japanese-firm-metaplanet-inc-to-buy-bitcoin-worth-6-3-million-through-bond-issuance

Nomura survey finds over half of Japan’s investment managers plan to invest in crypto

The survey showed that 54% of the respondents in Japan were interested in investing in crypto over the next three years.

www.theblock.co/post/301440/nomura-japan-survey

Hong Kong parliament sets up crypto legislative subcommittee

Johnny Ng, a Hong Kong lawmaker, said his office is collecting policy recommendations from the global Web3 industry.

www.theblock.co/post/301467/hong-kong-parliament-sets-up-crypto-legislative-subcommittee

Deutsche Bank-backed Taurus expands digital asset custody, issuance offerings to Stellar

Taurus joins financial institutions like Franklin Templeton, WisdomTree and Circle in using Stellar for real-world asset tokenization.

www.theblock.co/post/301491/deutsche-bank-taurus-stellar

Polymarket bettors have Trump crushing Biden with 57% chance

Trump's embrace of crypto has galvanised support on Polymarket.

www.dlnews.com/articles/markets/polymarket-bettors-have-trump-crushing-biden-by-22-points

Investor interest surges for bitcoin miners following Core Scientific AI hosting deal: JP Morgan

AI hosting opportunities have driven a $4 billion increase in the aggregate market cap of bitcoin miners, according to a JP Morgan report.

www.theblock.co/post/301540/investor-interest-surges-for-bitcoin-miners-following-core-scientific-ai-hosting-deal-jp-morgan

Bitcoin Miner Hut 8 Lands $150 Million Investment to Expand AI Push - Decrypt

Hut 8 has secured a sizable investment from Coatue to leverage its data center portfolio to help meet growing AI compute demands.

decrypt.co/236746/bitcoin-miner-hut-8-150-million-investment-ai-push

Biden’s crypto policy co-writer just rejoined the White House

Carole House will join the Biden administration as a special adviser on cybersecurity and “critical infrastructure policy.”

www.dlnews.com/articles/regulation/carole-house-returns-to-biden-white-house-as-adviser

How Gary Gensler’s SEC is besting crypto companies in the courts

The Gensler-led SEC is doing well in its court battles against the crypto industry.

www.dlnews.com/articles/regulation/gensler-sec-racking-up-court-wins

Louisiana signs bill to ban CBDCs, protect right to self-custody and mine crypto

Louisiana Governor Jeff Landry signed a bill to prohibit central bank digital currencies (CBDCs) and protect crypto mining on June 19.

cryptoslate.com/louisiana-signs-bill-to-ban-cbdcs-protect-right-to-self-custody-and-mine-crypto

Light Protocol and Helius Labs introduce 'ZK Compression' to further scale Solana apps

Solana-based developers Light Protocol and Helius Labs have introduced “ZK Compression” to further applications on the network scale.

www.theblock.co/post/301368/light-protocol-and-helius-labs-introduce-zk-compression-to-further-scale-solana-apps

Goblintown Creators Launch 'Portals' to Let Holders Move NFTs Across Ethereum Ecosystem - Decrypt

Truth Arts, the company behind Goblintown and Illuminati, has created a platform to let Ethereum NFT holders swap chains at will. Here's why.

decrypt.co/236705/goblintown-creators-holders-move-nfts-ethereum

Decentralized AI network Allora raises $3 million ahead of mainnet launch

Allora Labs, formerly Upshot and focused on NFT appraisals, has raised $3 million ahead of the mainnet launch of its decentralized AI network.

www.theblock.co/post/301630/decentralized-ai-network-allora-funding-upshot

‘Doom’ Creator Says AI Can Do a Lot of Things—Except Be Original - Decrypt

ID Software co-founder John Romero said using AI is “problematic” as it is based on existing material.

decrypt.co/236845/doom-creator-john-romero-ai-gaming

Music Industry Giants Sue AI Music Services Udio and Suno - Decrypt

The RIAA accuses the generative music services of “unlicensed copying of sound recordings on a massive scale.”

decrypt.co/236809/ai-music-riaa-lawsuit-suno-udio-industry-copyright

Weekly Astrology

OKC by Young Barid

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