Everything web3, crypto, defi, degen
In brief MEI Pharma is establishing a litecoin treasury after closing a $100 million private placement. The pharmaceutical company is adding Litecoin Foundation founder Charlie Lee to its board of directors. Litecoin was trading at $113.35, down more than 4% over the past 24 hours. MEI Pharma, a publicly traded pharmaceutical company, closed a $100…
In brief Altcoins are falling hard Wednesday following a recent surge in prices for Ethereum, XRP, and more. Glassnode reports that altcoin open interest hit a new all-time high, skyrocketing since the start of July. That growth in derivatives trading may result in more volatility, which could explain the dip. The recent crypto market euphoria…
In brief Ethereum game Tokyo Beast on layer-2 network Immutable zkEVM will shut down in August. Producer Naoki Motohashi said in a blog post that the rapid closure is due to operational cost challenges. Tokyo Beast will compensate NFT owners and some TGT token holders amid the end of services. Numerous crypto games have shut…
In brief After pulling in $2.5 billion over the first 10 months since launch, Ethereum ETFs have attracted $5 billion since mid-May alone, signaling accelerating institutional demand. Analysts note that price momentum is lagging behind institutional inflows. While the long-term outlook remains bullish due to institutional adoption, one analyst is positioning for a potential short-term…
In brief A new survey by Reown found that stablecoin owners outnumber Solana holders. Crypto payments and stablecoins have become the “real breakout use case,” for crypto, Reown CEO Jess Houlgrave said. Barriers to adoption include user experience, though solutions such as the WalletConnect Network are addressing the fragmentation of networks and chains. Owners of…
In brief XRP is now 91st largest asset in the world, with a larger market capitalization than PepsiCo, BlackRock, and Uber. It comes after the cryptocurrency set a new all-time high for the first time in seven years. The asset needs to rise just 5% to surpass fast food giant McDonald’s. XRP is now larger…
In brief A man has been indicted in an alleged cross-border fraud scheme. Authorities traced and seized $7.1 million in crypto, with assets moving through U.S. banks, offshore accounts, and at least 19 wallets. DOJ officials say blockchain tracing helped recover funds and identify connections to exchanges abroad. A Washington State man has been indicted…
In brief Ethereum has significantly outpaced Bitcoin in recent months, with a 67% gain against Bitcoin’s 18% in the last month alone. The gap between Ethereum and Bitcoin ETF inflows is converging, dropping from 45 times to just 1.6 in the past four months. Analysts anticipate Ethereum soaring past $8,000, driven by institutional adoption, regulatory…
In brief DigitalX purchased 74.7 BTC for $8.8 million at an average price of $117,293. It now holds nearly 500 BTC across direct and ETF holdings. A growing number of firms are also adding Bitcoin to their balance sheets. DigitalX has ramped up its Bitcoin holdings with the acquisition of 74.7 BTC, worth approximately US$8.8…
In brief SEC staff greenlit Bitwise’s ETF on Tuesday, but it was immediately paused under a discretionary review rule. Grayscale’s GDLC faced the same setback earlier this month. It then responded with a legal warning. ETF Institute co-founder Nate Geraci called it a “bizarre situation” as procedural uncertainty clouds ETF conversions. The SEC halted another…
