🚀 A Massive Start for Ethereum ETFs?
In today’s edition: 🕒 First Mt. Gox payout in a decade, 🤔 "Ultrasound money" under scrutiny, 🎬 Onchain minting could bring Vitalik doc to the big screen, and more!
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Apps on the TON Blockchain Have Become Extremely Popular. Is It Sustainable?
This year, games on TON have taken off, garnering hundreds of millions of users in a few months. TON Foundation’s Alena Shmalko and Jack Booth share their insights on how TON, after Telegram had run-ins with the SEC, got here.
The Open Network, aka TON, has been on a tear since late February. TVL has skyrocketed 34x since the beginning of the year, reaching over $750 million as of the time of recording. The price of TON has more than tripled from about $2 to $7, and daily active addresses recently exceeded those of Ethereum in May and June. Games with fun names such as Hamster Kombat and Catizen are gaining traction, and Pantera Capital, an “OG” crypto investor, is making its largest investments yet in TON.
In this episode, Alena Shmalko and Jack Booth from the TON Foundation discuss how TON has managed to garner this traction, especially after a rocky start when the SEC went after the original founder, Telegram.
Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform.
What’s Poppin’?
by Juan Aranovich, Sam Sriram and Sage Young
Kraken Distributes Bitcoin From Mt. Gox to Creditors
Some Mt. Gox creditors received a distribution of BTC and BCH for the first time in ten years.
Ethereum ETFs Record $1 Billion in First Day Volume and $107 Million Inflows
A massive outflow of $484 million from Grayscale’s ETHE brought the total inflow number across spot ether ETFs to $107 million on the first day of trading.
Ethereum Supply Growth Raises Concerns Amid Launch of Spot ETH ETFs
The supply of ether has been growing non-stop since April. Will the weakening of the “ultrasound money” narrative hurt ETF inflows?
New Vitalik Documentary Allows Supporters to Mint Trailer to Fund Film’s Release
The film tells the story of Ethereum’s last three years, including the historic Merge, through Ethereum co-founder Vitalik Buterin’s eyes.
Daily Bits… ✍️✍️✍️
🖥️ DeFi platform dYdX is reportedly negotiating the sale of its v3 software while simultaneously disclosing that it has been compromised.
📄 Coinbase narrowed its legal demands for internal communications from SEC Chair Gary Gensler to focus on discussions about crypto since he joined the agency, following a judge's advice to limit the scope.
📈 Major crypto mining stocks, including Marathon Digital and Riot Platforms, saw significant market cap increases over the past two weeks, with Marathon Digital leading the surge with a 37% jump to $7.56 billion.
⚡ Lightning Labs launched Taproot Assets v0.4 on the Bitcoin mainnet, enabling minting and transferring digital assets such as stablecoins via the Lightning Network, aiming to reduce costs and enhance security.
🕵️♂️ Two promoters of the Forcount crypto Ponzi scheme, which defrauded Spanish-speaking investors of $8.4 million, pleaded guilty to wire fraud conspiracy and face up to 20 years in prison.
🏦 Tokenization firm Libre is launching new blockchain-based funds on Solana, including the Hamilton Lane SCOPE senior credit fund, aiming to increase accessibility and liquidity.
The $$$ Corner…
⚒️ Riot Platforms acquired Block Mining, a Kentucky-based bitcoin miner, in a $92.5 million deal to boost its mining capacity by an additional 60 megawatts immediately.
🔗 Bitcoin layer 2 blockchain Bitlayer closed $11 million in a funding round led by Franklin Templeton, highlighting traditional finance's growing interest in decentralized finance technologies.
🐧 Pudgy Penguins' parent company, Igloo, secured $11 million from Peter Thiel's Founders Fund to develop Abstract, a new layer 2 blockchain.
🤖 Web3 AI firm Network3 garnered $5.5 million to expand its team and develop its decentralized AI infrastructure.
What Do You Meme?
📈 Your Market Update 📉
BTC is down 0.1%, trading at $66,519
ETH is down 0.5%, trading at $3,471
BTC dominance: 51.7%
Crypto market cap: $2.54T
*All data as of today, 07:02 am ET. Source: CoinGecko
Recommended Reads
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Forbes Crypto: Will Ethereum Catch Up With Bitcoin?
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