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BlackRock, the world's largest asset manager, has filed a form with the SEC for its first tokenized asset fund: the BlackRock USD Institutional Digital Liquidity Fund. The fund will have a minimum investment of $100,000, be tokenized on the Ethereum blockchain, and be offered by U.S. digital assets securities firm, Securitize.
The trillion-dollar Government Pension Investment Fund of Japan is exploring alternative "illiquidity assets" such as Bitcoin for potential investment opportunities. This comes after Bitcoin's recent all-time high and a 130% surge in price over the past year. Although no commitment was made towards investing in cryptocurrencies, this inquiry suggests that the fund at least has some interest in digital assets.
Bitcoin Virtual Machine, a layer 2 project, is set to launch Truly Open AI, a platform where users can launch AI models on the blockchain for use in crypto apps. Developed in partnership with Filecoin, Near, Avail, Polygon, and Syscoin, this design allows for monetization when other people utilize their AI models.
Aavegotchi is set to launch Gotchichain, a Layer 3 rollup chain for blockchain gaming, in 2024. The new gaming console will run on top of Base, an EVM-compatible L2 developed by Coinbase. Besides offering lower transaction fees, Gotchichain aims to provide a dedicated block space for application-specific facilities in a bid to maximize scalability.
Coinbase’s L2, Base, has been gaining traction after the Dencun upgrade leveraging lower fees, account abstraction, and Coinbase’s enormous user base. The team is developing a smart wallet that simplifies wallet creation with non-custodial, exportable keys and traditional login methods. This new service aims to make web3 interactions via Coinbase more user-friendly, enhancing its utility and impact on the crypto market.
This report sheds light on salary, equity, and token compensation trends within the crypto industry. Based on a survey of 49 portfolio firms, it uncovers key insights, including that U.S.-based companies offer higher salaries and equity/token packages compared to those internationally. It also highlights that most companies pay in fiat currency, although international organizations tend to utilize crypto, primarily for cross-border transactions. The data also outlines that most crypto startups consider adopting tokens, especially international firms.
Cryptocurrency could be the future of the attention economy as it offers a more efficient market compared to the current web2 model. New "attention assets" like memecoins, NFTs, and tokens capture real-time attention value. These enable users to invest in and own assets that represent beliefs about a particular meme, media, or network's future attention. This system allows everyone in the value chain to benefit.
Grayscale's GBTC had its largest day of outflows yet, contributing $642.5 million to a total net outflow of $154.4 million across all spot bitcoin ETFs. This occurred despite the $451.5 million inflow into BlackRock's IBIT ETF. The total net inflow into these ETFs currently stands at over $12 billion.
Grayscale Investments submitted a revised Ethereum ETF application for NYSE listing amidst SEC delays and debate on the viability of Ethereum ETPs.
MicroStrategy acquired more bitcoin via another note offering, bringing its holdings to over 1% of the Bitcoin supply.
Risky memecoin presales on Solana have drawn legal and ethical concerns after traders sent hundreds of millions of dollars worth of assets to unverified addresses, sparking scams and drawing regulatory attention.
Backpack survived a harsh crypto winter and managed to generate $27.5 billion in trading volume in its beta, despite FTX being one of its main backers.