7/1/24: Sony's New Crypto Play 🗾🐧🐳

Author

Valko
July 01, 2024

Top News

  1. Sony to launch Bitcoin and crypto exchange

  2. Pudgy Penguins acquires Frame to build new chain

  3. Ethereum ICO whale moves $24M to Kraken

Specs’ Breakdown

1. Sony to launch Bitcoin and crypto exchange

⌐◪-◪ → A Sony subsidiary is rebranding local crypto exchange Amber Japan that it acquired last August. The revamped exchange will feature a new user interface and mobile app, integrating with Sony’s other businesses.

This move signals Sony’s strong interest in web3 and other initiatives like their blockchain network, which they partnered with Startale Labs on.

It’s exciting to see iconic brands like Sony, whose products are used by hundreds of millions worldwide, enter web3. Now let’s see what new use cases they stir up.

2. Pudgy Penguins acquires Frame to build new chain

⌐◪-◪ → Igloo Inc. acquired the web3 creator platform Frame to develop Abstract Chain, a Layer 2 network for on-chain culture and communities. The Frame team will join Igloo, focusing on building infrastructure for NFT marketplaces and supporting creators through gas fee allocations.

This acquisition shows Igloo's strategy to expand its ecosystem for on-chain culture and communities. By leveraging Frame’s capabilities, Igloo aims to enhance the consumer crypto experience and drive cultural expansion within Layer 2 networks.

It seems everybody is building an L2 these days.

3. Ethereum ICO whale moves $24M to Kraken

⌐◪-◪ → An Ethereum ICO whale just transferred 7,000 ETH ($24.28 million) to Kraken after six months of inactivity. The wallet still holds 40,000 ETH worth $139.5 million.

Simultaneously, the U.S. government wallet moved 3,375 ETH ($11.75 million) to an unknown address.

Other large groups, like the US government and Germany, are also selling. Bitcoin is down nearly 10% this month, so it seems like a strange time to sell, but hey, maybe they know something we don’t.

Everything Else

⛓️ Crypto & DeFi

🏦 Wallstreet & VC

  • SEC returns S-1 forms to Ethereum ETF issuers with light comments

  • Bitdeer to lease industrial park for adding 570 MW to Bitcoin mining

  • Bitfinex Securities to add 2 new tokenized bonds on Liquid Network

  • Abra launches treasury service allowing corporates to hold crypto

  • Hidden Road adds major exchanges, expands BlackRock’s BUIDL

  • Gemini signs 5yr sponsorship with Peter McCormack's football club

🏛️ Legal & Regulatory

  • Binance SEC case proceeds, secondary sales charge dismissed

  • IRS issues tax reporting rule for brokers, delays DeFi rules

  • Consensys sued by SEC over MetaMask swaps and staking services

  • Coinbase files to list futures for DOT, SHIB, XLM, AVAX and LINK

  • 21Shares files S-1 for spot Solana ETF following VanEck

  • Supreme Court overturns Chevron, curbing federal agencies' power

  • Vitalik calls US crypto regulatory approach ‘anarcho-tyranny’

  • Solana ETF possible with a change in POTUS, SEC: Balchunas

🌎 Rest of the World

  • Metaplanet buys another $1.2M worth of Bitcoin

  • Ant Group expands blockchain units’ registered capital to $200M

🖼️ NFTs & Metaverse

  • Mad Lads swept by one wallet ~$1M, floor up to 100+ SOL

  • Pixelverse launches token on TON for its PixelTap Telegram game

  • Pump.Fun cumulative revenue crosses $50M

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