The Block
Quick Take Jump Capital and Cypher Capital co-led a $7.5 million seed round for the web3 AI firm Raiinmaker. Other participants in the round included Gate.io Labs, MEXC Global, Krypital Group, Alphabit, Launchpool, New Tribe Capital and others. Raiinmaker lets users train AI from their smartphones and receive rewards.
Quick Take NIM Network is an AI-focused blockchain aiming to optimize AI agent development for Web3 games. It provides on-chain access to AI models for game developers and ownership of these models to token holders. The AI agents deployed on NIM are focused on gaming but can also benefit real-world applications. This Research Piece is unlocked by the NIM Network.
Monthly spot volume on centralized crypto exchanges more than doubled in March compared to February.It reached almost $2.5 trillion for the first time since November 2021.
Quick Take Frax Finance is collaborating with Noble to bring the Frax stablecoin to the Cosmos ecosystem. The move enables native integration of Frax and sFrax tokens on Noble.
Quick Take Gasp (formerly Mangata Finance), a cross-chain swap protocol building on EigenLayer, has raised $5 million in a private funding round. The round brought Gasp’s fully diluted token valuation to $80 million, a source told The Block.
Wormhole’s token airdrop will open for claims at 7:30 a.m. ET today. About 400,000 wallets will be eligible to claim the token based on a February 6 snapshot.
Net daily outflows from Ark Invest 21Shares’ ARKB worth $87.5 million surpassed that of Grayscale’s ETF on Tuesday.Meanwhile, the spot bitcoin ETF sector collectively saw a cumulative net daily inflow of $39.5 million.
After two consecutive trading days of net outflows, US-based spot bitcoin ETFs on July 5 saw the largest net inflows since June 6, thirty days ago, largely led by gains to Fidelity’s FBTC fund, Coinglass data shows.“The outlook for Bitcoin has never been stronger,” Bitwise’s CEO posted on X.
Web3 venture firm Paradigm is in talks with investors about raising up to $850 million for a new crypto venture fund.If the fund raises more than $750 million, it would be the largest since the crypto market crash of May 2022, reports Bloomberg.
Quick Take During a two-day “SEC Speaks” event sponsored by the Practicing Law Institute, the Republican commissioner singled out Staff Accounting Bulletin 121, which lawmakers have criticized over the past few months. Commissioner Peirce also criticized the SEC’s engagement with the public and said people who come in with questions are often met with “crickets.”
