EIB reported EU lags in blockchain + AI investments / Canaan reported 78% sales to US/EU BTC miners / Fresh Funding

Plus: The Court has denied the SEC access to Ripple's legal communications regarding whether the sales of XRP "were or would be" subject to federal securities laws.

Inside.com Part of   Network June 01, 2021

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The global crypto market cap is $1.64T 1.27%▲ with a 24-hour market volume of $109.52B 4.82%▼. Bitcoin's dominance is currently 41.48% 1.14%▼. CURRENT PRICES BY MARKET CAP # Name Price 24h % 1 Bitcoin BTC $36,355.16 1.15% ▼ 2 Ethereum ETH $2,568.66 1.18% ▼ 3 Cardano ADA $1.74 5.55% ▲ 4 Binance Coin BNB $353.15 3.03% ▲ 5 XRP XRP $1.00 2.09% ▲ *Prices as of 2:45 p.m. ET.

The European Investment Bank (EIB) stated that it is $12B behind the US and China in AI and blockchain investments. The EU is looking to close this investment gap, which EIB predicts will continue to grow between $6.11B to $12.23B annually. More: Combined investments in AI and blockchain from the US and China account for 80% of all investments in both technologies. EIB projected that the EU has only contributed at around $2.14B annually or 7% of the total. The EIB recognized the importance of both blockchain and AI innovations and their potential to innovate sectors greatly affected by the pandemic.

Canaan Creative, a BTC mining hardware provider based in China, stated that 78% of its Q1 revenue came from overseas markets. Canaan’s announcement is consistent with a broad trend of increased mining in the EU and North America. More: Canaan reported only 4.9% of its quarterly revenues coming from overseas markets in Q4 2020. North American institutional investors purchased over $500M in BTC mining hardware in Q4 2020 alone. The total computing power sold in Q1 increased 122% in the past year, totaling two exahashes per second.

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▲ TOP GAINERS # Name Price 24h % 1 Mdex MDX $2.62 20.95% ▲ 2 THETA THETA $7.65 13.91% ▲ 3 Theta Fuel TFUEL $0.3589 9.48% ▲ 4 Kusama KSM $368.68 8.97% ▲ 5 Stellar XLM $0.4239 8.25%▲ ▼ TOP LOSERS # Name Price 24h % 1 Decred DCR $160.44 5.36%▼ 2 THORChain RUNE $11.45 5.29%▼ 3 Internet Computer ICP $109.16 3.46%▼ 4 Revain REV $0.01201 4.23%▼ 5 NEAR Protocol NEAR $3.13 4.05%▼ *Limited to cryptocurrencies in the Top 100. Prices as of 2:45 p.m. ET.

🍋Fresh Funding🍋 Panther Protocol, DeFi/Privacy: $8M ⮕ Panther’s funding round attracted participation from Alphabit Fund, A195 Capital, AU21, Deep Ventures, Defiants, Protocol Ventures, and others. More: Panther Protocol allows users to mint private, fully collateralized, privacy-focused assets known as “zAssets.” Users can maintain compliance procedures while retaining their privacy through Panther’s Zero-Knowledge disclosures. With the latest fresh funding, the startup is looking to accelerate its upcoming public sale, which is currently scheduled for Q3. Lithium Finance, DeFi/Oracle: $5M ⮕ The Pantera Capital and Hashed led funding round saw additional participation from Alameda Research, Huobi Ventures’ Blockchain Fund, OKEx’s Blockdream Ventures, NGC, and others. More: Lithium was founded this year with the goal of building a “collective-intelligence pricing oracle” for illiquid asset classes such as private equity. The protocol will operate by rewarding analysts who provide accurate pricing information and providing disincentives for analysts who signal inaccurate data. The startup is the third project to come out of Liquefy’s DeFi incubator. It will initially be released to support Linear Finance, another project within the Liquefy Lab’s incubator.

Upcoming events hosted by Inside.com June 8th & 9th, 2021- Inside Venture Capital: Meet Our Fund July 8th, 2021 - Inside Cryptocurrency: Mastering NFTs To register for our events visit: events.inside.com

QUICK HITS Customer empathy is no longer optional. CX has reached a tipping point, discover how the industry is evolving and how your organization may be impacted. * Ripple v. SEC update: The Court has denied the SEC access to Ripple’s legal communications regarding whether the sales of XRP “were or would be” subject to federal securities laws. The MLB announced an NFT partnership with Michael Rubin, Gary Vaynerchuk, and Mike Novogratz’s Candy Digital. South Korean exchange Upbit reported a 40% increase in bank account flows since the start of 2021. Authentic Brands Group (ABG) announced that it would be holding an NFT auction of tokenized works inspired by Marilyn Monroe. ABG is the official licensor of Marilyn Monroe as well as Muhammad Ali, Elvis Presley, and others. DeFi tokens surged in the past 48hrs as Ethereum (ETH) jumped 11%. WRX token, the native token for India’s WazirX crypto exchange, went up 43% in the 24 hours following the launch of its NFT platform and clarity on crypto from the Reserve Bank of India. Clearco (FKA Clearbanc), the world’s largest e-commerce investor announced that they had raised a $100 million Series C at a $2 billion valuation. Read more.* *sponsored content

Griffin McShane is a J.D. candidate currently living in Portland, Maine. He is a graduate of Providence College, where he studied both computer science and business. Griffin aspires one day to go to the moon and bring some of his altcoins along for the ride. Editor Sheena Vasani is a professional tech writer, creator, and UC Berkeley, Dev Bootcamp, and Thinkful alumna who writes Inside Dev and Inside NoCode. She recently launched Affordable Mental Help, a directory listing free and low-cost mental health resources. You can contact her at sheenavasani1[at]gmail.com.

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