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PancakeSwap, a multichain decentralized exchange, has teamed up with Allora Network to develop an innovative prediction market on the Arbitrum platform. This new feature uses Allora’s AI algorithms to analyze and predict Ether (COIN:ETHUSD) price fluctuations, allowing users to make more informed price movement predictions. The accuracy of Allora’s AI models is noteworthy, reaching up to 65% in tests, offering traders a valuable tool for guiding their trading decisions.
The human verification project Worldcoin (COIN:WLDUSD), known for its iris identification system, is preparing to launch a new blockchain called World Chain, in collaboration with the web3 infrastructure platform Alchemy. This partnership will provide World Chain developers with a full suite of web3 tools, including APIs and indexing solutions, aimed at optimizing and improving project efficiency. Worldcoin has already registered nearly 6 million people.
On June 25, US Bitcoin exchange-traded funds (ETFs) saw a reversal, with net inflows totaling $31 million. According to SoSo Value data, this change follows seven consecutive days of outflows amounting to $1.1 billion. The Fidelity Wise Origin Bitcoin Fund (AMEX:FBTC) led the inflows with $49 million, followed by the Bitwise Bitcoin ETF (AMEX:BITB) and the VanEck Bitcoin Trust ETF (AMEX:HODL). However, the Grayscale Bitcoin Trust (AMEX:GBTC) and the ARK 21Shares Bitcoin ETF (AMEX:ARKB) experienced net outflows of $30.3 million and $6 million, respectively.
Julian Assange, founder of WikiLeaks, received a wave of financial support to cover the expenses of his return trip to Australia following a US court settlement. His wife Stella appealed for help to pay a $520,000 debt to the Australian government for charter flights. An anonymous donor contributed over 8 BTC, equivalent to around $500,000, covering most of the debt. Additionally, $380,000 in fiat donations were raised, ensuring Assange can return home without outstanding debts.
Two executives of Hydrogen Technology were sentenced to prison for defrauding investors and manipulating the price of their cryptocurrency, the HYDRO token (COIN:HYDROUSD). CEO Michael Kane received a three-year and nine-month sentence, while Shane Hampton, head of financial engineering, was sentenced to two years and 11 months. They collaborated with a South African firm to conduct artificial trades that inflated prices, allowing them to profit $2 million by selling the token at elevated values.
Recently, alternative cryptocurrencies have faced a substantial liquidity reduction compared to Bitcoin (COIN:BTCUSD) and Ether (COIN:ETHUSD). Data from Coinalyze shows that notional open interest, reflecting the dollar value of active altcoin futures contracts, fell by 34% to $12 billion since Bitcoin peaked above $70,000 on June 7. In contrast, Bitcoin and Ether futures open interest positions decreased by only 13%, totaling $29.3 billion.
The Cardano blockchain effectively resisted a distributed denial-of-service (DDoS) attack aimed at stealing staked tokens. The attack targeted 194 smart contracts and used multiple transactions, but the network’s robustness prevented losses, resulting in losses for the attacker. The network remained stable, with a devaluation in the ADA coin (COIN:ADAUSD). The community response included deactivating the targeted staking credentials, helping neutralize the attack. Despite some challenges for pool operators, the network operates normally.
The Sui blockchain network is expanding its custody functionalities through a partnership with Copper, a prominent custody service provider. This collaboration aims to increase Sui’s appeal to institutional investors, offering support for native tokens like the Ondo USD Yield (USDY) stablecoin. The addition of advanced custody services is crucial for incorporating traditional financial institutions, positioning Sui as a viable option for managing and deploying digital assets in the growing decentralized finance market. The native token of the Sui Network (COIN:SUIUSD) was down -5.6% in the last 24 hours.
Tether (COIN:USDTUSD), a prominent stablecoin issuer, has seen a significant increase in the circulation of its USDT coin on The Open Network (COIN:TONCOINUSD) blockchain, associated with Telegram. In less than two months since its introduction on the network, $580 million in USDT has been issued, with $519 million already in circulation. This growth is attributed to the ease of transactions on TON and the increased interest from investors in the dynamic blockchain ecosystem of this network.
Blast, a layer 2 blockchain, recently distributed 17% of its total token supply to users who participated in Ether (COIN:ETHUSD) staking earlier this year. The token launched at about $0.03, reaching a market capitalization of $3 billion. Previously, the project faced criticism for allowing deposits into a token bridge without immediate withdrawal options. Currently, Blast is the second-largest layer 2 network by total value locked.
After delisting from the Australian Securities Exchange in 2020 due to regulatory issues, Animoca Brands, a giant in the gaming and metaverse sector, is considering a return to the public market. The company focuses on more receptive jurisdictions like Hong Kong and the Middle East. While consulting investment banks, Animoca has not yet decided on a specific location or hired a financial advisor to proceed with the listing.
Binance, the largest cryptocurrency exchange by volume, has suspended its copy trading services for users in the European Union due to the imminent application of the Markets in Crypto-Assets (MiCA) regulation. This change directly responds to new rules that will come into effect at the end of June, significantly impacting the regulatory environment for crypto assets in the EU. The exchange advised users to close their copy trading positions and transfer their funds back to their wallets.
Cryptocurrency exchange Bitstamp announced it would delist Euro Tether (COIN:USDTUSD) from Tether in response to the imminent implementation of the Markets in Crypto-Assets (MiCA) regulation in Europe. Introduced in 2021, EURT will be delisted by the end of June as part of Bitstamp’s efforts to comply with new regulatory standards, which come into effect at the end of this month.
Recently, the German government transferred 750 BTC, valued at approximately $46.35 million, part of which (250 BTC) was sent to the Bitstamp and Kraken exchanges. A small test transaction to Flow Traders suggests preparations for possible future sales. The German government’s Bitcoin reserves total 45,609 BTC, according to Bitcointreasuries. Governments worldwide hold approximately 565,000 BTC. Germany is now the fifth-largest government holder, below the US, China, the UK, and Ukraine.
A US bankruptcy court approved a liquidation plan for FTX to pay customer claims in cash based on cryptocurrency values at the time of the company’s collapse in November 2022. Despite objections from some customers wanting compensation based on current higher prices, the court decided to proceed with the original plan. Customers can vote on the proposal until August 16, with a final decision expected on October 7.
The US government offers a reward of up to $5 million for information leading to the capture of Ruja Ignatova, known as the “Cryptoqueen.” Ignatova, who founded the fraudulent OneCoin, disappeared in 2017 after being indicted for creating a Ponzi scheme that raised about $4 billion. The State Department has intensified efforts to locate her, significantly increasing the previous FBI reward. Ignatova also faces criminal charges in several countries, including her native Bulgaria.
The Ora blockchain project, specializing in integrating artificial intelligence into decentralized applications, announced raising $20 million from renowned investors like Polychain and Hashkey Capital. These funds will develop and expand its technology, enabling the tokenization and implementation of AI models in the Ethereum ecosystem, aiming to facilitate the creation of advanced and secure AI-powered dapps.
Core Scientific (NASDAQ:CORZ), a prominent Bitcoin mining company, expanded its agreement with CoreWeave, a hyper-scale AI specialist, to provide full access to 270 megawatts (MW) of its infrastructure. This new agreement includes expanding a previous contract to add 70 MW of capacity, allowing CoreWeave to host NVIDIA GPUs. With the potential to expand to 500 MW, the partnership promises to position Core Scientific among the largest data centers in the US, with significant projected revenue over the coming years.
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