A true test for Binance solvency begins as we woke up to the news of serious SEC charges leveled on the world's largest Crypto exchange. Over $550 million left the exchange within 20 minutes of the announcement while broader coin and NFT floor prices held on tight throughout the day. On1 Force (+10%) and Mfer's (+12%) held their own with green days, while the majority of the NFT marketplace finished in the red.
Blur led all marketplaces with over $9.5 million in transactions, while Opensea closed just above $3.7 million. ETH saw a dip with the rest of the market and closed just above $1800.
Binance and its Founder CZ have been charged by the SEC on 13 securities law violations, including the operation of an unlicensed stock exchange. The team issued a response here: https://twitter.com/binance/status/1665755879742767108
Jack Butcher releases 005:VVR with an opt-in window that is set to close on Wednesday at 3PM EST. The set was revealed during today's Apple WWDC event and has easily surpassed the opt-in threshold before tomorrow's deadline. https://twitter.com/jackbutcher/status/1665795255906578432
SuperRare announces famed Web3 artist and friend of MVHQ, @osf_rekt as the June RarePass Airdrop artist. The special airdrop will be sent to holders that have delisted their RarePass NFTs. https://twitter.com/SuperRare/status/1665720642795126784
Frank DeGods unveils de[id] v0.1, a new web3 profile platform that offers users new wallet authentication and social integrations. https://twitter.com/frankdegods/status/1665129770491981824
ALTS by adidas hints at Chapter 2, and utility for its coins are set to begin at the end of June for its holders. https://twitter.com/altsbyadidas/status/1665750330477297664
Jack Butcher: https://www.youtube.com/watch?v=--rDkbSExwM
Luca Netz: https://www.youtube.com/watch?v=0Sx0ewV0j_E
Gary Gensler woke up this morning and chose violence by throwing yet another lawsuit at the feet of Coinbase courtesy of the SEC after their bombshell allegations against Binance yesterday. On top of this, the SEC also sought to freeze Binance US assets. However, despite the FUD and strong words from the US government, crypto rallied and showed surprising strength in the markets. NFTs also saw some serious action in the form of a 625 ETH Fidenza sale and a strong bounce back for the darling of the week, Sproto Gremlins (200E vol.) who hold a .55E floor price.
Overall NFT volume came in slightly lower than Monday at $22 million with Sproto Gremlins the only project to breach 200E in volume aside from Fidenza's massive sale. ETH meanwhile shrugged off Gensler's haymaker to close the day at $1880 marking yesterday's Binance FUD as the lows for the time being.
As if Binance wasn't a big enough name, the SEC returned with another lawsuit, today charging Coinbase for operating as an unregistered securities exchange.
The SEC also reportedly filed a motion for a restraining order calling for a freeze of Binance US assets after allegations of comingling of funds made by the SEC on Monday.
Luxury brand Louis Vuitton announced their intention to sell Treasure Trunk NFTs in a phygital experience with access to future activations all for the low low price of $41,000.
Art Blocks' founder Snowfro minted 17 more Squiggles as gifts to friends, organizations, and those who supported him in his words. This brings the total number of minted Squiggles to 9791 of the total 10,000 to be minted.
Josie's Cyberbrokers unveiled its Version Beta Mission with factions and ally collections very similar to 10KTF's missions.
Pixelmon's beloved Kevin will undergo a vote to determine whether to update the character and artwork to fit the revamped models of new Pixelmon or to keep him true to his meme roots.
Fidenza #545 sold today in a landmark sale for 625 ETH in a reserved sale.
Despite recent crypto uneasiness, power Web2 players continue to show confidence with new Web3 initiatives. Today, Warner Brothers introduced Superman to the Metaverse with a new movie experiece. Power talent management firm, Creative Arts Agency (CAA) links up with RTFKT and Bored Ape Yacht Club ramps up the engagement with two announcements. Jack Butchers Opepen R005 "VVR" revealed and quickly saw a 4E sale and currently hold a floor over 5E.
Overall marketplace volume checked in under $14 million while ETH continues to maintain above the $1820 range.
Warner Bros. Digital Collectibles announces a new Superman Web3 Movie Experience set to launch on June 9th. Early access will open for Lord of the Rings Movie Experience holders, DC3 and Bat Cowls holders starting on June 8th. The drop will feature three editions priced at $100 each.
Bored Ape Yacht Club made two announcements today. First, a new The Summoning video comes to life and teases BAYC, BAKC and HV-MTL. The team then announced that it's HV Viewer is now live and can be accessed with a warm wallet connection.
BLUR has updated its bid points system to "reward bidders who take real risk with the most points."
After a brief hiatus, NFT influencer, trader and investor @Franklinisbored joins the NFT Inspect Council.The council is aimed at showcasing notable contributors and founders in the NFT space.
After the onslaught of FUD to begin the week it looked like we were in for a quieter Thursday with no mjaor NFT launches to grab the collective attention. That was of course until Binance dropped the news that they would be suspending deposits and withdrawals of USD after the SEC's earlier moves.
Over on the NFT side of things volume took a hit as Sartoshi's mfers were the only project to surpass 100E in volume traded. Following the highs set earlier in the week we continued to see a decline as overall marketplace volume only reached $21 million for the day. ETH meanwhile saw more ranging with few dramatic moves and closed the day at $1840.
- Kraken's NFT marketplace exited beta today and went live for the general public with some innovative features like gasless transactions.
- Magic Eden has added functionality for self-inscription of several BTC-based name services such as .sats, .btc and more.
- Memeland announced on their weekly GM Show that they expect to go live with their Waitlist codes for $meme coin this Friday and that it will involve the game found on their site.
- BitGo reached a deal to acquire Prime Trust as they sought $25 million in emergency fundraising.
- In a bit of late-night FUD, Binance announced that as a result of recent actions by the SEC that they will be suspending USD deposits and withdrawals.
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Friday to Sunday 6/9-6/11
It was a bit of a bloodbath over the weekend as bearish sentiment continues to flood the marketplace. Crypto prices across the board saw weakness as did the majority of NFT floors, without much traction to speak of as we head into next week. A string of recent hacks of notable Web3 names continued with both Franklin and Bitboy getting caught in the crosshairs.
Volume and headlines remained light over the weekend as we look for activity to pick up into the end of the month. ETH saw it's price break below the $1750 mark, while BTC dipped to the $25,500 range.
- RTFKT has extended is RIMOWA Forgin event until June 30th.
- CyberKongz unveil a new Allowlist Portal which also gives access to the Limitlist for its upcoming Genkai mint.
- Jack Butcher introduces Set 006: PIV with an opt-in window set to close at 1PM EST.
- CryptoPunks celebrates its 6th birthday!
- OpenSea launches new gas-free cancellations for new offers.
- Just days after making his return to Twitter, @Franklinisbored had his account hacked. The account has yet to be reclaimed and a scam mint link has yet to be deleted. Be safe everyone!
- *Bitboy_Crypto* also had their account hacked, with the scammers making out with over $700k in funds, according to @zackxbt.
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