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JUNE REVEAL: Social media giant Facebook may debut its “GlobalCoin” cryptocurrency as soon as this month. According to a report from The Information on Wednesday, the social media giant could also allow employees to be paid in the token. Other new details on the project, if confirmed, include that Facebook is planning to launch physical portals allowing users to purchase GlobalCoin. External parties may also be invited to participate in the network as nodes for a fee that could be as much as $10 million. Full story
NO UNICORN? Blockchain project Polkadot’s bid for a $1.2 billion valuation has hit a snag. Since January, the Web3 Foundation – the Switzerland-based nonprofit behind the project – has been trying to raise up to $60 million through a private token sale. According to sources, three Chinese funds have agreed to invest $15 million in the project’s DOT tokens. However, these three investors agreed to pay prices that, on average, valued the project below $1 billion, the sources said – falling short of the unicorn threshold Polkadot was reportedly seeking. Full story
TIME TO SMILE? Developers of the cryptocurrency grin have reached a rough agreement on a block number and expected date of activation for the crypto network’s first ever system-wide upgrade or hard fork. Proposed by Quentin Le Sceller, a Grin core developer and software engineer at blockchain startup BlockCypher, during a developer call on Tuesday, the proposed activation block number is 262,080 and is expected to hit on July 17. The scheduled hard fork is actually one of four scheduled in the two-year roadmap of the Grin blockchain – designed to keep specialized mining hardware from proliferating on the network. Full story
GAME CHAINS: South Korean blockchain game startup Planetarium is planning to launch a test version of a new decentralized game, Nine Chronicles, later this month. Notably, the role-playing game will store its storyboard and data all on a blockchain – its own blockchain. This is the first game developed with Planetarium’s game authoring tool which will be officially released as an open-source platform this year. Once made public, developers will be able to use the tool to make games, as well as custom blockchains for those games. Full story
NOT AN EXIT: ConsenSys Capital co-founder Andrew Keys will be the newest managing partner at DARMA Capital, a registered crypto-focused investment fund. Keys said he will drive product strategy and global business development at the firm, and will remain an advisor to ConsenSys. DARMA is a CFTC-regulated firm with $100 million in assets under management for its Ether Optimized Long fund, Keys said in a blog post. He told CoinDesk that his goal is to accumulate 1 percent of the fund’s total per month, minus fees, in active returns. Full story |
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LOOKING SOUTH: Bitcoin's bounce from support around $7,400 has created a bearish continuation pattern on the 4-hour chart. A sustained break back below $7,700, if confirmed, would imply a continuation of the sell-off from recent highs above $8,700 and could yield a drop to $7,000. A close above the downward sloping (bearish) 10-day moving average at $8,284 would invalidate the short-term bearish setup. Full story |
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| BEST OF THE BEST
INVESTOR APPEAL: A blockchain platform that allows players to compete for digital tokens in gaming bouts has attracted the backing of some notable investors, according to VentureBeat. Developed by a firm called Azarus, the “Smart Challenge” platform, has received $1.8 million in investment from Mike Novogratz’s Galaxy Digital, via its Galaxy EOS VC Fund, as well as Kleiner Perkins, SVK Crypto, and more. Smart Challenge uses in-game APIs and data pulled from Twitch extensions to gauge who is the victor in a game. Players and viewers get rewarded in the AZA token, which can be redeemed for items such as in-game paraphernalia or crypto assets. |
WHO WON #CRYPTOTWITTER  |
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