Crypto Sale

Coinbase donates $25 million to pro-crypto PAC Fairshake after Biden's veto 🔥 Coinbase donated $25 million to Fairshake’s super PAC, boosting its total to $161 million for the 2024 elections. Other donors include Ripple, a16z, the Winklevoss twins, and Jump Crypto. Fairshake has spent over $11.3 million, primarily against Democratic candidate Kate Porter, who lost in the primary. Key recipients of Fairshake funding are Republican Dusty Johnson and Democrat Josh Gottheimer, both involved in the FIT21 Act.

Velocore DEX on zkSync and Linea Reportedly Hacked, $10 Million in User LPs Stolen 😍 Decentralized exchange Velocore on zkSync and Linea has reportedly been hacked, with $10 million in LPs stolen. Linea briefly halted block production but has resumed. Hackers allegedly transferred some ETH to the Ethereum mainnet. Velocore had been audited by Zokyo, Hacken, and Scalebit. The cause of the block production halt on Linea is not confirmed.

Japanese Exchange DMM Suffers $305M Bitcoin Loss from Private Key Breach 👍 Centralized cryptocurrency exchange DMM lost over $305 million in Bitcoin due to a server hack on May 30. DMM confirmed that all user deposits will be fully guaranteed. The exchange has temporarily halted withdrawals, new account openings, new spot buy orders, and all new leveraged orders, but existing limit orders will remain active.

Top U.S. Treasury Official Says They’re Not Trying to Ban Crypto Mixers 🔥 The U.S. Treasury is not attempting to ban cryptocurrency mixing services, said Brian Nelson at CoinDesk’s Consensus conference. FinCEN's 2023 proposal aims to classify mixers as a “primary money laundering concern” and require VASPs to report any mixing transactions.

Deutsche Bank tests Ethereum-based platform to mitigate margin compression German banking giant Deutsche Bank AG views blockchain technology as a means to mitigate margin compression. A new report suggests that Deutsche Bank is testing an Ethereum-based platform whose name was not specified. According to the bank, the platform offers services centred around tokenized funds. Tokenization is the process of creating blockchain-based representations of real-world assets. Citigroup Inc. estimates the tokenization market could hit $5 trillion by 2030, covering bonds, property, and private equity. The bank will leverage this platform to offer record-keeping services to help tokenized fund issuers manage investor information. The platform is also interoperable, ensuring that any fund manager can use it regardless of the underlying blockchain. According to Anand Rengarajan, the bank’s Asia-Pacific and Middle East head of securities services and global head of sales, by using blockchain and smart contract-based solutions, the German banking giant can reduce costs, transaction times, and overall risk. “It will help us stay relevant, because with the kind of margin compression impacting the overall financial services industry, the only way one can survive is by innovating,” Anand said.

EarnM Announces IDO on Ordify Launchpad 🔥 EarnM is set to launch its native token, $EARNM, with an Initial DEX Offering (IDO) on Ordify. The date for the IDO has yet to be announced. The IDO price will be $0.01 per $EARNM, with an allocation of 10 million $EARNM tokens. The total supply of $EARNM is 5 billion. $EARNM is a deflationary mobile rewards currency that transforms smartphones into EarnPhones using the Fractal Box Protocol. Mode Mobile, the ecosystem's creator and a leading play-to-earn platform, has distributed over 17 million web3 Mystery Box Assets and generated over $250 million in earnings and savings for millions of consumers.

FLOKI, WIF, BONK top gainers as meme coins take over markets The meme coin sector is gaining traction again in the crypto markets because of its performance and remarkable growth. The top gainer for today, rising 21%, is Floki (FLOKI), which currently sits at $0.0002813. The price surge for FLOKI followed the breakout of a horizontal level at the $0.00023 mark. Also, after breaking out from the $0.00023 level, FLOKI broke through a key resistance level at $0.00025. Now, FLOKI is heading toward its all-time high of $0.0003, according to CoinMarketCap. The price rise is due to Floki developers launching a Telegram-based trading bot for FLOKI holders on the BNB Chain network. The bot is anticipated to boost demand for FLOKI tokens and contribute to buying pressure. The bot will be charged a 1% transaction fee, half of which will be used to buy FLOKI on the open market. The price pump for FLOKI could also have come from other factors like Coinbase adding the token to its perpetual futures list, and the SEC’s approval of Ethereum ETFs. Since Floki operates on the Ethereum (ETH) network, it would make sense for tokens built on the blockchain, like FLOKI, PEPE, and SHIB, to benefit from the SEC’s actions.

TD Cowen: Ethereum ETFs Pave the Way for More Crypto Funds 🔥 TD Cowen's research group saw the Ethereum ETF approval as inevitable following Bitcoin ETFs' approval. Jaret Seiberg noted it came six months earlier than expected. The next step could be an ETF with a "basket of crypto tokens." However, SEC Chair Gary Gensler remains critical of crypto legislation that could reduce the agency's power.

Phantom Wallet surges in popularity, surpasses Facebook in Google Play Currently ranked #11 behind Cash App and Snapchat in the free download category, Phantom Wallet saw an estimated 770,000 downloads in April, according to data from appfigures, placing it ahead of social media giant Facebook and OpenAI’s language model ChatGPT.

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