FinCEN appointed 1st chief advisor for crypto / Marshall Wace expanded into crypto / CoinShares acquired Elwood ETF / Fresh Funding

Plus: Robinhood Crypto reported 34% of Q1 revenue from DOGE

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The global crypto market cap is $1.44T 0.68%▲ with a 24-hour market volume of $73.13B 1.77%▲. Bitcoin's dominance is currently 44.26% 0.34%▼. CURRENT PRICES BY MARKET CAP # Name Price 24h % 1 Bitcoin BTC $33,934.42 0.66% ▼ 2 Ethereum ETH $2,317.16 3.49% ▲ 3 Binance Coin BNB $317.61 4.72% ▲ 4 Cardano ADA $1.40 1.36% ▼ 5 XRP XRP $0.6599 0.71% ▼ *Prices as of 3:30 p.m. ET.

U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) appointed its first chief advisor for crypto. A statement released today revealed Michele Korver would take on the inaugural position. More: Korver previously served as Digital Currency Counsel for the U.S. DOJ’s Criminal Division. Korver will be responsible for preventing illicit financial practices and exploitation in crypto. FinCEN recently published a set of proposed rules to enhance the monitoring of crypto transfers.

Marshall Wace announced plans to expand its investments into crypto. The firm stated the goal of buying later stage digital finance, blockchain infrastructure, and payment system companies. More: The UK-based hedge fund firm is particularly focused on investing in stablecoin infrastructure. Recent hiring in the digital assets sectors suggests that the firm is also moving toward offering crypto trading. A report from PriceWaterhouseCoopers showed that around half of all hedge funds had made crypto-focused investments since May.

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▲ TOP GAINERS # Name Price 24h % 1 KuCoin Token KCS $11.29 33.02% ▲ 2 SushiSwap SUSHI $9.00 19.14% ▲ 3 THORChain RUNE $7.11 15.60% ▲ 4 Yearn.finance YFI $36,285.14 12.99% ▲ 5 Avalanche AVAX $13.51 12.00%▲ ▼  TOP LOSERS  # Name Price 24h % 1 Elrond EGLD $96.79 5.83%▼ 2 Quant QNT $79.10 4.40%▼ 3 Compound COMP $483.14 4.00%▼ 4 The Graph GRT $0.7153 3.78%▼ 5 Telcoin TEL $0.02263 2.79%▼ *Limited to cryptocurrencies in the Top 100. Prices as of 3:30 p.m. ET.

CoinShares announced the acquisition of Invesco Elwood Global Blockchain Equity UCITS ETF. The $17M acquisition provides CoinShares control over the ETF with over $1B in assets under management. More: CoinShares is a European-based asset manager with $3.3B in crypto holdings. Per the deal, CoinShares will additionally control Elwood’s digital assets equity research team. The acquisition is expected to be completed in the next week.

🍋Fresh Funding🍋 Solrise Finance: Asset Management Protocol: $3.4M ⮕ The funding round was participated in by Alameda Research, CMS Holdings, Delphi Digital, Jump Capital, Reciprocal Ventures, Skyvision Capital, and others. More: Solrise Finance is a Solana-based protocol for asset management. The protocol’s smart contracts allow investors to limit fund managers from accessing their funds and retain full custody. Solrise will use the fresh funding to develop a more accessible platform for DeFi investors on the Solana blockchain.

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QUICK HITS Want to develop your team's STEM skills and understanding? Learn by doing, not lecturing, with interactive challenges and visualizations. * Robinhood revealed in an S1 statement that Dogecoin (DOGE) accounted for 34% of its crypto trading revenue in Q1 2021. Coinbase announced a 2-year partnership with ESL Gaming. The Business Administration Department of the PBoC issued a statement today warning of the risks in crypto trading. Crypto mining company Argo Blockchain announced plans for a secondary public listing on the NASDAQ. A former employee of now dissolved Cryptopia pleaded guilty to the theft of nearly $172K in crypto. Dfinity founder Dominic Williams posted plans to fork the company’s 3-month old Internet Computer (ICP) blockchain and create a new Badlands blockchain. South Korea’s Shinhan Bank joined the governance council for the Klaytn (KLAY) blockchain. Shape Your Own CI/CD Virtual Event - Submit your questions to learn from an experienced panel of leaders led by Kelsey Hightower. Register now. * * Sponsored Content

Upcoming events hosted by Inside.com July 8, 2021 – Inside Cryptocurrency: Mastering NFTs (Register Here) July 19, 2021 – Angel University by LAUNCH (Register Here) July 29, 2021 – Inside NoCode: Building Without Developers (Register Here) October 26-27, 2021 – Meet our Fund Fall ’21 Cohort (Register Here) To register for our events visit: events.inside.com

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 Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford.

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