According to Bloomberg, Galaxy Digital, a leading cryptocurrency firm, is venturing into a new form of lending by tokenizing traditional assets. The company recently lent funds to a billionaire, with the loan collateralized by a tokenized violin. This move represents an effort to cater to a different clientele, particularly those benefiting from the surge in cryptocurrency prices and the consequent increase in wealth. Galaxy Digital already provides loans through its trading and investment banking division, Galaxy Global Markets. However, the tokenization of physical assets such as fine art or musical instruments could potentially allow the company to lend more to its clients than against volatile assets like Bitcoin or Ethereum, according to Thomas Cowan, Galaxy's vice president of tokenization. He stated, 'Today it's a violin, but tomorrow it could be real estate.' The borrower, who chose to remain anonymous, mentioned that he might use the loan proceeds to invest in new crypto-related projects or art. He also expressed interest in the tokenization process, stating it was a good way to gain additional liquidity, even though it wasn't required. The tokenization of the violin was carried out through a subsidiary, GK8. The borrower also expressed a desire to eventually allow others to buy a claim on the tokenized violin through a process known as fractionalization, although there are currently no plans or agreements to do so.

According to CryptoPotato, Ethereum's price has seen a significant increase following its ETF approval, but it has yet to surpass its recent high. On the daily timeframe, the price broke above the large descending channel in May. However, it has been consolidating between the $3,600 and $4,000 levels since then, failing to continue its upward trajectory. Despite this, the Relative Strength Index (RSI) still shows values above 50%, indicating that the momentum is seemingly in favor of a further continuation past the $4,000 resistance level and toward a new record high. On the 4-hour timeframe, the price action has been inconsistent over the past few weeks. The market has tested the $4,000 area a couple of times already but has failed to break above and is currently hovering around the $3,800 mark. However, the 4-hour RSI has recently broken above the 50% level, suggesting that the momentum is shifting bullish. Therefore, a breakout above the $4,000 level seems likely in the short term. While Ethereum’s price has been consolidating below the $4,000 resistance level, significant events are seemingly unfolding in the background. The ETH exchange reserve, which measures the total amount of ETH held in exchange wallets, has recently plummeted below its 30-day moving average. This aggressive drop points to a potential accumulation happening during the current consolidation as the market gets ready to rally higher. Overall, this significant decline in exchange reserve can be very bullish for ETH, as it reduces the supply side of the equation.

According to CoinDesk, the State of Wisconsin Investment Board's (SWIB) investment into spot bitcoin exchange-traded funds (ETFs) earlier this year is likely just a trial phase, according to David Krause, a professor of finance at Milwaukee-based Marquette University. Krause stated that the board has always been innovative and it's no surprise that it's experimenting with bitcoin. In the first quarter, the SWIB added two spot bitcoin ETFs to the portfolio of Wisconsin's pension plan. The board purchased shares of BlackRock’s iShares Bitcoin Trust (IBIT) and Grayscale’s Bitcoin Trust (GBTC) valued at $164 million as of March 31, as revealed in a filing with the U.S. Securities and Exchange Commission in May. This move surprised the industry as big institutions, particularly pensions, don’t usually invest in young ETFs like the spot bitcoin ETFs. However, Krause noted that the state’s investment board has been ahead of the game before. Krause further explained that the SWIB is a fully funded pension fund, which gives it the luxury of being able to invest for the long term without worrying as much about liquidity. As of the end of 2023, the SWIB managed roughly $156 billion in assets, meaning its holdings in the bitcoin ETFs were a negligible roughly 0.1% of its portfolio. Krause believes that the investment was just a “toe in the water” and he expects the SWIB to add to that amount and for other pensions to eventually follow suit. He said, 'I think it’s just an entry point. I think they’re testing to see the reaction of the public to whether or not there’s resistance to owning this and they’re using it as a trial run, because it really is not going to impact the portfolio substantially, until you get to maybe a 1% or 2% positioning.' In the first three months of the year, nearly 500 institutional investors revealed allocations into the spot bitcoin ETFs. The biggest owner as of March 31 was hedge fund Millennium Management, which revealed $2 billion in holdings across a number of the funds, or roughly 3% of its total assets under management.

According to Bloomberg, the University of Austin in Texas is incorporating Bitcoin into its endowment. The newly established university, which is welcoming its inaugural class of students this fall, has collaborated with a cryptocurrency platform. 'Bitcoin offers a unique opportunity to further UATX's dedication to nurturing future generations of leaders and innovators,' stated Thomas Hogan, an incoming associate professor at the university. The university aims to enroll 100 students this fall and has pledged to offer free tuition for the first group. Among UATX's supporters are contributors to Bloomberg Television and Bloomberg Opinion. The University of Austin has announced that it will retain the Bitcoin in its fund for a minimum of five years. The decision to create this holding was influenced by numerous supporters inquiring about the possibility of making donations in the cryptocurrency, according to a university spokesperson. Unchained, the cryptocurrency platform in partnership with the university, was established in 2016 and manages Bitcoin valued at over $6 billion, as per the statement. The cryptocurrency, which has seen a rise of over 60% this year, was trading around $69,400 at midday in New York.

According to Odaily, Play AI, a provider of artificial intelligence and blockchain solutions, has announced the completion of its initial funding round, raising $4.3 million. The funding round saw participation from P2 Ventures, Jump Crypto, Alphage Ventures, and MH Ventures. The raised capital is intended to advance the application of artificial intelligence and blockchain in gaming and virtual reality. The new funds will be used to develop Play AI's decentralized AI technology. In addition, the company plans to use blockchain decentralized networks to increase transparency and encourage game players to share data for training AI models. This move is seen as a significant step towards integrating advanced technologies into the gaming and virtual reality sectors, providing a more immersive and interactive experience for users. The participation of notable investors such as P2 Ventures, Jump Crypto, Alphage Ventures, and MH Ventures in the funding round underscores the growing interest and confidence in the potential of AI and blockchain technologies in these sectors. The successful funding round marks a significant milestone for Play AI as it continues to innovate and push the boundaries of what is possible in the gaming and virtual reality landscapes.

According to Blockworks, a new set of revised spot ether ETF applications have been submitted, with at least one more round anticipated before the products can be launched. The most recent submissions suggest a potential fee battle and reveal that one issuer has shifted its focus more towards bitcoin. The Securities and Exchange Commission approved 19b-4 proposals filed by Cboe, NYSE Arca, and the Nasdaq to list such funds on May 23. The regulator is now finalizing S-1 registration statements, the last step before launch. BlackRock disclosed its $10 million in seed capital and authorized participants for its fund on Wednesday. However, as more applications were submitted late Friday, one of the key revelations was the planned price point of 0.19% for Franklin Templeton’s ether fund. The $1.6 trillion asset manager was the first to disclose its proposed fee, setting the stage for an expected fee war similar to the one seen among bitcoin ETF issuers in January. Franklin Templeton had undercut Bitwise to become the cheapest bitcoin ETF a day after those funds were launched in January. Nate Geraci, president of The ETF Store, anticipates the spot ether ETF fee war to be as intense as the one surrounding BTC funds. He added that the two battles are interconnected, as fee competition in one category will likely impact the other, as end investors will expect comparable pricing on both. Sumit Roy, a senior analyst at ETF.com, suggested that fee waivers could also play a role again. He speculated that permanent expense ratios could drop as low as 0.15%. Another significant revelation from the filing was the absence of Ark Invest’s name. The firm, which focuses on disruptive innovation, had partnered with 21Shares to launch a spot bitcoin ETF in January. A 21Shares spokesperson confirmed the fund will continue to attempt to launch the 21Shares Core Ethereum ETF without Ark Invest as a partner. The two companies remain 'committed partners' for ARKB and a range of futures-based products. An Ark Invest spokesperson stated that the firm views bitcoin as 'a public good that everyone should be able to access at a low cost.' Regarding Ethereum, Ark believes in its transformative potential and the long-term value of the Ethereum blockchain. However, at this time, Ark will not be moving forward with an Ethereum ETF. The representative added that they will continue evaluating efficient ways to provide their investors with exposure to this innovative technology in a way that unlocks its full benefits.

According to Odaily, Slerf has provided an update on the refund status for its presale on the X platform. The company has distributed 30,125 SOL tokens to presale participants, with a remaining 23,700 SOL tokens yet to be refunded. Over 27,000 wallets have already received their refunds, with less than 800 still pending. Slerf anticipates achieving a 100% refund rate in the coming weeks.

According to BlockBeats, the Solana blockchain saw a significant increase in token creation in May due to its low entry barrier and the growing demand for popular memecoins. In May, 455,000 types of tokens were created on Solana, a significant increase compared to other platforms. In comparison, Ethereum Layer 2 Base saw the creation of 177,000 types of tokens, while BNB chain saw the creation of 39,000 types of tokens. The number of tokens created on the Ethereum main network and Layer 2 networks Arbitrum and Optimism was less than 20,000. The surge in token creation on Solana is indicative of the growing popularity of the platform, particularly among creators of memecoins. The low entry barrier and the ability to create a wide variety of tokens have made Solana an attractive platform for developers and investors alike. The significant difference in the number of tokens created on Solana compared to other platforms highlights the growing demand for memecoins and the increasing use of the Solana blockchain for token creation.

According to Odaily, gm.ai has announced the launch of Alpha Access, an autonomous trading agent on the blockchain. Alpha Access is designed to provide a platform for autonomous trading, enhancing the trading experience for users. The company has also revealed that holders of the Golden gmID will have the privilege to use this new feature. They can gain access to this service by joining a specific Telegram group. This move is seen as a strategic step by gm.ai to provide its users with advanced trading tools and to stay competitive in the rapidly evolving blockchain industry. However, the company has not disclosed any further details about the new service or the specific Telegram group. More information is expected to be released in the coming weeks. This announcement has sparked interest among the blockchain community, and many are eagerly waiting for more details about Alpha Access and its potential impact on the trading landscape.

According to Odaily, Dreamcraft Ventures, a burgeoning venture capital firm based in Copenhagen, Denmark, has announced the completion of a €66 million fundraising for its Fund II. The new funds will be invested in areas such as B2B SaaS, digital entertainment, and fintech. Notable contributors to the fund include Chr. Augustinus Fabrikker and Family Offices. Dreamcraft Ventures already has multiple investments in the Web3 domain. These include Teamway, a Web3 human resources platform, and NeoKe, a decentralized digital identity company. The firm's latest fundraising effort underscores its commitment to supporting innovative companies in the tech sector. The investment in B2B SaaS, digital entertainment, and fintech sectors indicates Dreamcraft Ventures' strategic focus on these rapidly evolving industries. The firm's existing portfolio in the Web3 domain, including investments in Teamway and NeoKe, demonstrates its foresight in recognizing and capitalizing on the potential of decentralized technologies.

According to Odaily, Hypersonic Laboratories, the company behind the metaverse platform HELIX, has announced the completion of a $7 million Series A funding round. The round was led by Play Ventures, with participation from AppWorks, WTIC, KB Investment, and Alex Ekvall. The newly acquired funds will be used for the further development of Helix. It is reported that Helix will launch a closed alpha version later this year, aimed at facilitating the creation of role-playing game mods and servers. In previous news, Hypersonic Laboratories completed a $3.5 million Pre-Seed funding round in 2022. This round was also led by Play Ventures, with participation from Samsung Next, GSR, Third Kind, Alex Chung, the founder of Giphy, and Scott Belsky, the founder of Behance.

According to Odaily, the New York Stock Exchange (NYSE) has announced that trading has resumed for the affected stocks, following the resolution of issues related to price ranges. The NYSE had previously halted trading for certain stocks due to problems with their price ranges. However, these issues have now been resolved, allowing trading to recommence. The NYSE has not provided further details about the specific stocks affected or the nature of the price range issues. The resumption of trading is expected to restore normalcy to the operations of the NYSE and the affected stocks.

According to Foresight News, the New York Stock Exchange (NYSE) reported a technical issue with the industry-wide price range announced by CTA SIP this morning. This problem led to the suspension of trading for some stocks listed on the NYSE. The affected stocks have resumed trading, and the issue with the price range has been resolved.

According to Odaily, Solv Protocol has announced its integration with Ethena to launch a revenue vault for SolvBTC. This move will allow users to earn profits from Ethena's strategy while maintaining their Bitcoin exposure. The announcement was made on platform X, where Solv Protocol detailed its plans to enhance user benefits through this integration. The integration of Ethena into Solv Protocol is a strategic move aimed at maximizing the benefits for SolvBTC holders. By leveraging Ethena's strategy, users can potentially increase their earnings while still maintaining their Bitcoin holdings. This innovative approach provides a new avenue for users to optimize their cryptocurrency investments. In conclusion, the integration of Ethena by Solv Protocol represents a significant development in the cryptocurrency sector. It not only offers a new way for SolvBTC holders to increase their earnings but also demonstrates the potential of strategic partnerships in enhancing the value of cryptocurrency investments.

According to Foresight News, Theta Network, a blockchain focused on video, artificial intelligence, and entertainment, has announced that its hybrid cloud computing platform, Theta EdgeCloud, is now available on AWS Blockchain Node Runners. This collaboration means that Theta community members or corporate clients can deploy Theta edge nodes or Elite edge nodes on AWS with minimal technical work, using the blueprint in the AWS Blockchain Node Runners repository.

According to Foresight News, the blockchain interoperability platform Connext has announced its rebranding to Everclear. The rebranding is part of the introduction of a 'clearing layer' for intent-based cross-chain bridges. In addition, the project has sold $5 million worth of Connext (NEXT) tokens to Pantera Capital via over-the-counter trading to support the development and implementation of the clearing layer. Everclear is currently developing for the Arbitrum Orbit-based Rollup chain. The Everclear testnet is currently operational, with several partners already developing on it, including Socket, Particle Network, Router, and Enzo. The mainnet is expected to launch in the third quarter of 2024.

On Jun 03, 2024, 14:48 PM (UTC). According to Binance Market Data, Bitcoin (BTC) has dropped below 69,000 USDT and is now trading at 68,953.960938 USDT, with a narrowed1.16% increase in 24 hours.

According to Odaily, several US stocks, including Berkshire Hathaway (BRK.A.N), Montreal Bank, and Barrick Gold, experienced a significant drop of over 98% today. The situation remained static, raising suspicions of market anomalies. A spokesperson from the New York Stock Exchange (NYSE) confirmed that the NYSE's stock department is currently investigating a reported technical issue related to the Limit Up-Limit Down (LULD) rules. The LULD rules are designed to prevent trades in individual securities from occurring outside of specified price bands, which are set at levels where trades are considered to be clearly erroneous. The investigation aims to identify the cause of the drastic drop and the subsequent market stagnation.

According to BlockBeats, on June 3rd, four miner addresses that had been inactive for 11 years transferred a total of 100 BTC, equivalent to approximately 7 million USD. These addresses each acquired 25 BTC, around 1.75 million USD, through mining in 2013. The sudden activity from these long-dormant addresses has sparked interest in the cryptocurrency community.

According to Odaily, Solana's meme coin platform, pump.fun, has achieved a significant milestone. As of June 2, the platform's total revenue has exceeded $30 million, currently standing at $30.85 million. In addition, the platform's 24-hour income reached $640,000, surpassing Uniswap Labs and ranking fourth, only behind Ethereum, Tron, and Solana itself. This achievement marks a significant step for the platform in the competitive world of digital currencies.