Kraken’s Ink Unveils $INK Token

️ On today's Top Picks:

Crypto News

• US Senate passes GENIUS Act, a crypto stablecoin bill; to move on to the House of Representatives; bill establishes a legal framework for stablecoins and issuers.

• ⭐️ PumpFun parent company Baton Corporation hires lawyers from Brown Rudnick to fight lawsuit filed by Burwick Law; Burwick Law accused PumpFun of profiting millions from unregistered volatile securities.

• PumpFun & its founder Alon's X accounts have been restored; the accounts were suspended for unknown reasons.

• Polygon $POL Co-founder Jordi Baylina & Polygon zkEVM team launch Zisk as an independent initiative; Baylina to remain co-founder & advisor at Polygon.

• Gemini crypto exchange files complaint against the US CFTC Enforcement Division; accusing it of waging a 7-year campaign of “lawfare” against them.

• US Authorities file to seize $225M worth of crypto linked to crypto investment scams; marks the largest crypto seizure in US Secret Service history.

Alpha

• Namada launches governance proposal to enable external $NAM transfers; to take effect Friday if approved.

• ⭐️ Ink to launch $INK soon; 1B total supply & no governance; to launch first INK primitive with liquidity protocol & an airdrop for early participants.

• Newton to launch $NEWT tokenomics next week; adds "still time to yap"; 0.95% of token supply allocated to Kaito rewards.

• YO launches YO Referral Program; earn 10% bonus YO Points when you refer someone; referees also get a 10% boost.

• Nansen launches Nansen Points Season 1; subscribe, stake, & refer to earn NXP; rewards include discounts, alpha access, perks from partners, & more.

Airdrops

• Weekly Airdrop Recap (June 14th) by Earndrop.

• Spark launches $SPK airdrop claim; SparkLend users, various stablecoin holders, & more are eligible; claim ends on July 22nd.

• WalletConnect launches $WCT airdrop for Solflare users; active Solflare swappers & stakers, first 1K on the Solflare Card waitlist, and Solflare Guardians & Ambassadors are eligible.

• ICYMI Weekly Airdrop Recap (June 7th) by Earndrop.

Finance News

• ⭐️ US Federal Reserve leaves interest rates unchanged at 4.25% - 4.50%.

• JPMorgan $JPM to launch $JPMD deposit token on Coinbase's $COIN Base network; JPMD represents USD deposits held at the bank; initially available only to institutional clients.

• Coinbase $COIN seeks US SEC approval to offer blockchain-based stock trading; needs to secure either a no-action letter or an exemption from enforcement.

• Ark Invest $ARKK $ARKW $ARKF sells $44.76M of Circle $CRCL shares; also sold $51.7M of CRCL shares the day before; bought $373.4M worth of CRCL shares earlier this month.

• xAI seeks $4.3B in new equity funding; adds to a previously announced $5B debt plan; to use funding for AI infrastructure.

• Intel $INTC to lay off 15% to 20% (~8K to ~11K) of Intel Foundry workers; executive cites cost-related challenges and the company's financial position for the layoffs.

Security and Exploits

• ⭐️ Nobitex crypto exchange was exploited for ~$80M due to unauthorized access of infrastructure & hot wallets; hacker group Gonjeshke Darande took responsibility for the attack.

• a16z X account was briefly compromised; the account has since been recovered.

• ICYMI ZachXBT issues warning about WhiteRock $WHITE; cites links to $30M Zkasino exit scam.

Token Unlocks

• ZKsync $ZK / ~$35M / JUN 17th
• ApeCoin $APE / ~$10M / JUN 17th
• Sonic $S / ~$15M / JUN 18th
• Space ID $ID / ~$11M / JUN 22nd
Sourced from Tokenomist

Funding

• ⭐️ EigenLayer $EIGEN raises $70M in OTC Sale from a16z Crypto.

• Ubyx raises $10M in Seed funding led by Galaxy Ventures.

• Gradient Network raises $10M in Seed funding led by Pantera Capital & Multicoin Capital.

• PublicAI raises $8M in Series A funding from several investors.

• XFX raises $9.1M in Seed funding led by Huan Ventures.

• TAC raises $5M in Strategic funding led by Hack VC.

• Utopia raises $4M in Pre-Seed funding led by Pantera Capital.

• Nook raises $2.5M in Seed funding from several investors.

• BitVault raises $2M in Pre-Seed funding from several investors.

The Degen Farmer