TL;DR Breakdown Justin Bieber has incurred a significant loss as his Bored Ape Yacht Club (BAYC) NFT investment plummets by over 95%. NFTs, blockchain-based digital assets, have attracted celebrity endorsements and investments, but their market is known for volatility. Despite the loss, Bieber’s diversified income streams may help offset the impact, and his substantial net worth provides some financial cushion. Description Global pop superstar Justin Bieber has suffered a significant financial blow in the volatile world of non-fungible tokens (NFTs). Bieber’s investment in a Bored Ape Yacht Club (BAYC) NFT, initially valued at $1.3 million, has depreciated by over 95%, resulting in a staggering loss of approximately $1.2 million. Currently, the BAYC NFT is worth $59,090. … Read more Global pop superstar Justin Bieber has suffered a significant financial blow in the volatile world of non-fungible tokens (NFTs). Bieber’s investment in a Bored Ape Yacht Club (BAYC) NFT, initially valued at $1.3 million, has depreciated by over 95%, resulting in a staggering loss of approximately $1.2 million. Currently, the BAYC NFT is worth $59,090. NFTs, which are unique digital assets…

TL;DR Breakdown The crypto market heads for a strong second half of 2023, with the global crypto market cap currently $1.26 Trillion. The Solana (SOL) price has recovered since June 10, as whales show support for the coin they once saw potential in. The Shanghai hardfork has motivated a fresh wave of Ethereum staking deposits. Coinbase ($COIN) price surges by 12% as BlackRock files for BTC ETF again through Nasdaq. Description From license approvals and legal battles to increased adoption and new ventures, the crypto ecosystem undergoes countless changes daily. The first half of 2023 may have been difficult, but analysts anticipate that the second half of the year will be profitable. The average Bitcoin (BTC) closing price in January 2023 was $20,250.72. According to CoinMarketCap, … Read more From license approvals and legal battles to increased adoption and new ventures, the crypto ecosystem undergoes countless changes daily. The first half of 2023 may have been difficult, but analysts anticipate that the second half of the year will be profitable. The average Bitcoin (BTC) closing price in January 2023 was…

TL;DR Breakdown Tech giants, including Amazon, Apple, Google, Microsoft, and others, have notified the EU of their compliance with digital antitrust rules. The EU’s regulations aim to curb the dominance of gatekeeper platforms and promote fair competition. Companies designated as gatekeepers will face obligations such as restrictions on pre-installing certain apps and favoring their own services, and they must allow third-party payment systems and alternative app downloads. Description  Several prominent tech companies, including Amazon.com Inc., Apple Inc., Google’s parent company Alphabet Inc., and Microsoft Corp., have officially informed the European Union (EU) that they meet the requirements to be subjected to the bloc’s digital antitrust regulations. This announcement is expected to have far-reaching implications for how these industry leaders operate within the EU. … Read more  Several prominent tech companies, including Amazon.com Inc., Apple Inc., Google’s parent company Alphabet Inc., and Microsoft Corp., have officially informed the European Union (EU) that they meet the requirements to be subjected to the bloc’s digital antitrust regulations. This announcement is expected to have far-reaching implications for how these industry leaders operate within the…

TL;DR Breakdown John E Deaton, took to Twitter to assert that if Cameron could substantiate his claims, it would be advisable to take legal action against Silbert and his company. The open letter highlighted what Winklevoss described as a “culture of lies and deceit” orchestrated by Barry Silbert to conceal the insolvency and financial condition of Genesis.  Ryan Selkis, the founder of the crypto analytic platform Messari, lamented the tactics employed by the SEC to allegedly exploit retail shareholders and protect bankers in an attempt to cover up DCG’s insolvency. Description In a recent development, John E Deaton, the founder of the US crypto regulatory news platform CryptoLaw, has suggested that Cameron Winklevoss, an American investor, and entrepreneur, consider filing a lawsuit against Digital Currency Group (DCG) after examining Winklevoss’ open letter to Barry Silbert, CEO of DCG. Deaton, a pro-XRP attorney, took to Twitter to … Read more In a recent development, John E Deaton, the founder of the US crypto regulatory news platform CryptoLaw, has suggested that Cameron Winklevoss, an American investor, and entrepreneur, consider filing a lawsuit…

TL;DR Breakdown China has announced its intention to impose export controls on metals primarily used in the production of semiconductors for artificial intelligence (AI) systems.  The export controls specifically target eight gallium-related products, including gallium antimonide, gallium arsenide, gallium metal, gallium nitride, gallium oxide, gallium phosphide, gallium selenide, and indium gallium arsenide. According to the statement, individuals exporting these products without proper authorization or in excess of the specified limits will face penalties. Description China has announced its intention to impose export controls on metals primarily used in the production of semiconductors for artificial intelligence (AI) systems. The Chinese Ministry of Commerce, in collaboration with the General Administration of Customs, released a joint statement on July 3, citing national security concerns as the motive behind these controls. The new … Read more China has announced its intention to impose export controls on metals primarily used in the production of semiconductors for artificial intelligence (AI) systems. The Chinese Ministry of Commerce, in collaboration with the General Administration of Customs, released a joint statement on July 3, citing national security concerns as…

TL;DR Breakdown Hong Kong is shifting its attitude towards blockchain technology, cryptocurrencies, and Web3, which is attracting the attention of industry experts and potentially enticing businesses away from the United States. The co-founder of Web3 investment firm Animoca Brands Yat Siu acknowledged that the United States should not be disregarded in the Web3 race but highlighted the regulatory uncertainty that many firms in the sector face, leading to a “regime of fear. Members of the Web3 task forces have entered into a two-year agreement with the Hong Kong government and will advise on strategies to drive industry growth. Description Hong Kong is shifting its attitude towards blockchain technology, cryptocurrencies, and Web3, which is attracting the attention of industry experts and potentially enticing businesses away from the United States. The city has been actively fostering the development of the Web3 space and enabling retail investment in cryptocurrencies. A notable step in this direction is the … Read more Hong Kong is shifting its attitude towards blockchain technology, cryptocurrencies, and Web3, which is attracting the attention of industry experts and potentially enticing…

TL;DR Breakdown Meta, the parent company of Instagram and Facebook, is set to launch Threads, a new app that poses a challenge to Twitter’s dominance in social media. Threads offers Twitter-like features, allowing users to publish text-based posts that can be liked, shared, and commented on. The launch of Threads comes as users express concerns over Twitter’s management under Elon Musk, prompting them to seek alternatives. Description Meta is set to launch Threads, its own rival to the popular social media platform Twitter. Expected to debut on Thursday, Threads will offer a text-based platform similar to Twitter, allowing users to publish posts, engage in discussions, and share content. The app will be closely linked to Meta’s photo-sharing platform, Instagram, enabling seamless portability … Read more Meta is set to launch Threads, its own rival to the popular social media platform Twitter. Expected to debut on Thursday, Threads will offer a text-based platform similar to Twitter, allowing users to publish posts, engage in discussions, and share content. The app will be closely linked to Meta’s photo-sharing platform, Instagram, enabling seamless portability…

TL;DR Breakdown Bank of America analysts warn that Nigeria may need to raise interest rates by 700 basis points to curb rising inflation, which is expected to reach 30% by the end of the year. The Nigerian currency, the naira, is currently undervalued and is projected to appreciate to 680 per dollar by the end of the year, according to Bank of America. Higher oil revenues and a liberalized import regime could lead to consistent current account surpluses for Nigeria, but tackling oil theft is crucial to ease the country’s high debt burden. Description Bank of America analysts have emphasized the need for immediate action to address Nigeria’s rising inflation and undervalued currency. Inflation is expected to accelerate due to the removal of fuel caps and the depreciation of the nation’s currency. According to these analysts, the central bank may need to raise interest rates significantly to curb inflation, … Read more Bank of America analysts have emphasized the need for immediate action to address Nigeria’s rising inflation and undervalued currency. Inflation is expected to accelerate due to the removal…

TL;DR Breakdown McDermott Will & Emery, the law firm representing Voyager’s committee of unsecured creditors, has invoiced the group $5.1 million Voyager attorney fees mounting, adding to recently billed $1.1 million from Kirkland & Ellis’ law firm Voyager is working to recover funds for users Description McDermott Will & Emery, the law firm representing Voyager’s committee of unsecured creditors, has invoiced the group $5.1 million, in a filing, for services rendered between March and May. The group has now been charged a total of $16.4 million in compensation, more than the $11.2 million anticipated as part of its restructuring process. Of … Read more McDermott Will & Emery, the law firm representing Voyager’s committee of unsecured creditors, has invoiced the group $5.1 million, in a filing, for services rendered between March and May. The group has now been charged a total of $16.4 million in compensation, more than the $11.2 million anticipated as part of its restructuring process. Of this billed compensation, the creditors have already granted $8.9 million. Voyager attorney fees are mounting McDermott Will & Emery has filed…

TL;DR Breakdown Ethereum introduces ERC-223, a new token standard that improves upon the flaws of ERC-20, offering enhanced security and preventing token loss in incompatible contracts. The adoption of ERC-223 promotes universal acceptance, enables new functionalities, and reinforces Ethereum’s position as a leading blockchain platform. Description In an exciting development for the Ethereum blockchain, a new token standard called ERC-223 has been added to the Ethereum documentation. This standard aims to address the flaws of its predecessor, ERC-20, and introduce enhanced security and functionality to the Ethereum network. With the launch of ERC-223, ETH demonstrates its ability to evolve and overcome … Read more In an exciting development for the Ethereum blockchain, a new token standard called ERC-223 has been added to the Ethereum documentation. This standard aims to address the flaws of its predecessor, ERC-20, and introduce enhanced security and functionality to the Ethereum network. With the launch of ERC-223, ETH demonstrates its ability to evolve and overcome challenges, dealing a blow to alternative protocols often referred to as “Ethereum killers.” Contents hide 1 Understanding ERC-223 Standard and Its…