Mind The Block | June Week 3

Mind The Block: Your Weekly Dose of Web3 News and Insights

Mind The Block Headlines This Week

• Bitcoin dip triggers $480M liquidation
• Tether launches Alloy platform
• South Korea enforces crypto rules
• Paradigm raises $850M fund
• Hoskinson proposes blockchain voting
• MetalCore introduces Barony guilds
• Dogecoin’s price dropped by 2.07%
• What is an infinite mint attack?

News

• T-Mobile has announced its intention to enter Bitcoin mining, marking a significant milestone in crypto-based activities.
• Bitcoin’s dip to $64,600 led to the liquidation of $480 million in long positions, with 190,144 traders liquidating in the past 24 hours.
• Solana Labs has launched Bond, a new blockchain customer loyalty platform to attract non-crypto brands to the Web3 space.
• Ethena Labs has revamped its ENA tokenomics, introducing mandatory vesting to encourage long-term investments and transparency.
• Hybrid, an EVM-compatible ecosystem, has launched a testnet for advanced AI Agents and Web3 integration.
• Injective (INJ) has partnered with The Graph to improve open data accessibility for developers worldwide.
• Coinbase International has announced support for a pre-launch market, allowing users to trade perpetual futures contracts on tokens that have yet to launch.
• Coinfest Asia 2024, the largest Web3 festival in Asia, will take place in Bali from 22 to 23 August 2024.
• Aethir launched its decentralized cloud computing network on Ethereum mainnet.
• MARINA is launching a Blockchain-Enabled System for Transactions (BEST) to streamline maritime services for Filipino seafarers and stakeholders.
• RISC Zero has launched zkVM 1.0, a production-ready zero-knowledge virtual machine (zkVM) that supports dapp interoperability.
• Arweave’s AO aims to disrupt decentralized computing by introducing novel parallel processing and message-passing approaches.
• BlockDAG’s Dev Release 52 enhances its blockchain network, addressing performance issues and delays.

Extras By Mind The Block

• Binance has listed ZKsync (ZK) and launched a token distribution program starting June 17, 2024.
• WSPN and DigiFT have announced a strategic partnership in Web3 digital payments and investment.
• Circle has expanded its Web3 Services to support the Solana blockchain.
• StarCheck, an Estonia-based preventative best-practice tool, has announced its most accessible and affordable retail AML checks.
• WEEX Exchange has launched a zero-fee trading initiative, offering 0% maker and 0% taker fees for spot trading.
• Chonq Coin, a new Solana memecoin, will launch on June 5th, drawing early investors and animal lovers.
• Freename has announced its integration with Base, revolutionizing domain minting within the Web3 ecosystem.
• ApeX Protocol has unveiled its new product, ApeX Omni, a modular, intent-centric, and chain-agnostic decentralized exchange.
• Floki’s trading bot has completed its closed beta testing phase from May 27th to June 14th, 2024.

Major Companies Making Moves

• Tether has launched Alloy, an open platform for creating digital assets, which will be backed by Tether Gold.
• Bybit is integrating Apple Pay into its platform to provide a safer, more secure, and private way for users to purchase crypto.
• VanEck will launch the first spot Bitcoin ETF on Australia’s Securities Exchange (ASX) on June 20.
• BBVA has launched a cryptocurrency wallet service, allowing customers to buy, sell, and store Bitcoin, Ethereum, and USD Coin.
• OKX Wallet is launching the second phase of its ‘Blast Super Season‘ campaign.
• Trezor has introduced the Trezor Safe 5, a landmark device with added safety features, a color touchscreen, and Trezor Expert.

Government, SEC & Regulation

• The European Parliament’s new five-year term promises favorable policies towards crypto-assets.
• The US Securities and Exchange Commission (SEC) is now seeking a $102.6 million penalty from Ripple in the ongoing XRP case.
• Germany’s Deutsche Telekom and Chinese telecom Coolpad are both involved in crypto mining.
• The Financial Stability Board emphasized the need for global crypto regulation to prevent arbitrage and mitigate risks in the crypto space.
• South Korea’s Financial Services Commission (FSC) implements strict rules under the Virtual Asset User Protection Act.
• AnchorX has signed two Memorandums of Understanding (MOUs) in Kazakhstan to enhance cross-border Belt and Road trade.
• Donald Trump has pledged to end Joe Biden’s “war on crypto” if elected, stating that the future of crypto and Bitcoin will be made in America.

• The Financial Services Agency (FSA) has warned LBank Exchange.
• Tanzania is proposing to amend its Income Tax Act to include a 3% withholding tax on income derived from crypto transactions.
• Zimbabwean regulators SECZ and RBZ are developing a framework for virtual asset trading.
• Ethiopia plans to establish a legal framework and regulatory sandbox to introduce a Central Bank Digital Currency (CBDC).
• Malaysia’s Inland Revenue Board (IRB) and Royal Malaysia Police and Cybersecurity Malaysia launched a special operation, Ops Token.

Raises & Major Investments rounds

• Venture capital firm Paradigm has raised $850 million for its third crypto fund, one of the largest fundraising efforts in history.
• South Korea plans to invest $14.5 million in blockchain technology to enhance public and private sector services.
• Polkadot has approved a $65 million development fund for the Join-Accumulate Machine (JAM) architecture.
• Web3 music platform StarNest raised $6M in a Series A funding round led by GoFintech Innovation.
• Chinese telecom giant Coolpad plans to invest $13.5 million in Bitcoin mining rigs for North America.

Trends & Narrative

• El Salvador proposes a private Bitcoin investment bank to boost the economy, diversifying financing options in dollars and Bitcoin.
• Blast API has integrated with IOTA EVM, providing reliable endpoints for decentralized applications (dApps) and users.
• Balaji Srinivasan believes that crypto will become the money of an AI age, representing “digital scarcity” and “digital abundance.”

• Blockchain and smart contracts are revolutionizing procurement by providing supply chain traceability.
• Charles Hoskinson proposes a blockchain-paper voting solution to boost trust in election results.
• Account abstraction simplifies blockchain transactions by combining private key management with transaction logic.

NFTs, Gaming, Metaverse

• MetalCore has introduced its Barony guild system, allowing players to create self-governed factions called Baronies.
• The Vatican Apostolic Library has launched the “Vatican Library Web3 Support Project,” which rewards Italian users with NFTs for sharing or donations.
• Heroes of Mavia is launching “Phase 2: Next Frontier,” integrating the MAVIA token into its gameplay loop.
• How to farm Blum as a Web3 game on Telegram.
• Maincard.io, a Web3 sports fantasy card game, has officially launched on the TON blockchain mainnet.
• Paris Match is auctioning 75 Ethereum NFTs of iconic photos from its archives to commemorate its 75th anniversary.
• Mallconomy, a multi-device metaverse hub powered by AI, is transforming e-commerce by offering an immersive and rewarding shopping experience.
• Doodles is migrating its “Stoodio” avatar customization platform from the Flow blockchain to Base in mid-July.
• Crypto Rogue Games is launching a Web3 RPG called “Crystals of Naramunz,” inspired by post-apocalyptic narratives.

Onchain Data

• Dogecoin’s price has fallen by 2.07% in the past 24 hours, dropping to $0.133329.
• Cardano’s (ADA) price is facing short-term bearishness, and a lack of market participation is signaling a sell signal.
• XRP price faces turbulence near $0.5, with whales moving 80 million coins between wallets and exchanges.
• Shiba Inu’s burn rate has dropped 62% in the last 24 hours, causing the cryptocurrency’s price to drop below $0.00002.
• Render (RDNR) price has corrected 27% since the first week of June, falling to $7.72.

Educational Guides and Tips from Mind the Block

• What Is a Wallet Address? How to Generate, Use, and Find One.
• What is an infinite mint attack, and how does it work?
• How to generate passive income with cryptocurrency airdrops.
• What is Layer 0 Blockchain? What Problems Can Layer 0 Solve?
• What is Pump.fun, and how do you create your own memecoin?

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