Happy Tuesday, my crypto crusaders!
As we celebrate the fourth of July, let’s make it a “foreth” of July in the cryptocurrency realm, where every transaction brings a smile to our faces.
Also, if you invested $100 in Shiba Inu? And If it reaches its highs again. Find out below.
💰 DeFi Talent Raking in Big Bucks as Salaries Soar to New Heights!
💣 BlackRock’s Reinvented Bid for Bitcoin ETF Sends Shockwaves Through Crypto Market!
🎨 Gemini CEO Delivers Ultimatum to Genesis CEO, Sparking Showdown of Titans!
💶 The AI Revolution Gains Momentum Even For Miners
DeFi Defies the Odds
While traditional companies are caught in the storm of layoffs, our favorite tech giants included, DeFi companies are strutting their stuff 😊 and snatching the attention of top talent. .
The DeFi space has been keeping its employees happy with stable paychecks, even when other companies are cutting corners. According to the folks at talent advisory firm Durlston Partners, DeFi engineers have been enjoying base salaries ranging from $125,000 to $160,000. Not too shabby, right?
✨But wait, there’s more! In 2023, DeFi engineers hit the salary jackpot with a 30% surge, landing them at an average of $180,000.
Why are DeFi salaries skyrocketing in the face of adversity?
Well, my friends, it’s all about supply and demand. 🦄The scarcity of talent in the DeFi space has turned it into a battleground for top professionals.
With their highly specialized skill sets, these engineers are like rare unicorns, sought after by companies willing to offer mesmerizing compensation packages.
Oh, the Flipside…
While DeFi companies are hiring and soaring, some of their crypto cousins have faced their fair share of challenges. 🚀 Unyielding regulatory pressures have forced companies like Binance, Robinhood, and Bybit to make some tough decisions and downsize their workforce.
Even Crypto.com, Polygon, Consensys, and BlockFi have had to tighten their belts due to uncertain market conditions. It’s a tough world out there, my friends.
BlackRock Refiles for Bitcoin ETF
BlackRock, the heavyweight titan of asset management, is making a bold comeback after their initial ETF application got some raised eyebrows from regulators. In their revamped filing, they’ve cleverly addressed the concerns by teaming up with Coinbase for a “surveillance-sharing agreement.” It’s like a secret pact against potential market shenanigans! 💪
And guess what? The mere mention of BlackRock’s interest in an ETF caused Bitcoin prices to skyrocket by about 20%! 🚀💰
Not wanting to miss out on the action, other market players swiftly followed suit. Fidelity, in cahoots with Cboe, also tweaked their application for a Bitcoin spot ETF faster than you can say “cryptocurrency mania.” 💼
But hold your horses, folks! Convincing the SEC to approve a spot ETF has proven to be quite the challenge. The SEC has given the thumbs up to Bitcoin ETFs tied to futures trading, but no luck yet on the spot market front. They’re understandably concerned about potential fraud or manipulation. Safety first, right? 🛡️
Gemini CEO Gives Genesis CEO Ultimatum
Gemini CEO Cameron Winklevoss issued a “final offer” to Genesis CEO Barry Silbert, demanding a whopping $1.46 billion in debt repayment or face the consequences of a lawsuit. 💼
Gemini Earn users, with over $1.2 billion of assets trapped in DCG-owned Genesis Global, have been anxiously waiting for a resolution. 😟
Winklevoss wants DCG to cough up a total of $1.465 billion, including the $630 million payment that was due back in May.
Winklevoss claims this offer is fair and reasonable for everyone involved. He sets the stage, challenging Silbert to accept the deal by July 6, or else face the wrath of a Gemini lawsuit filed on July 7.
This feud 💔 has been brewing for a while now. Gemini, who lent customer funds to Genesis through their retail Earn program, had threatened legal action against DCG and Silbert when Genesis filed for Chapter 11 bankruptcy in January. It seems like they’ve had enough and are ready to fight for what they believe is rightfully theirs.
DCG, caught up in the crypto credit crisis last year, has been in negotiations with Genesis creditors. However, they missed a major $630 million payment to Genesis in May, raising the tension even higher.
AI Bull Case
🌟 Bitcoin miners are trying their luck in the realm of high-performance computing (HPC) and artificial intelligence (AI)! 🤑
Bitcoin miners are seeking greener pastures to pad their wallets. And guess where they’re flocking? Yep, you’ve got it—straight to the cash-rich AI corner of the HPC market! These miners are turning into HPC generalists, hoping to strike BTC in the AI universe. ⛏️
Leading the pack is Applied Digital Corporation (APLD), 💥💸making waves by securing lucrative AI deals worth a dazzling combined total of up to $640 million in May and June.
But hold your GPUs, folks! Transitioning into the AI industry isn’t exactly a walk in the digital park. APLD discovered this firsthand when constructing their AI-compliant facility, which reportedly cost them a whopping ten times more than building an equivalent setup for crypto mining. Ouch!
To make matters trickier, their existing hardware—those trusty mining GPUs and ASICs—aren’t exactly AI-friendly. These specialized mining tools are optimized for energy efficiency and hash rates, sacrificing versatility and vRAM storage.
Honorable Mentions 🏆
- 💰Pro-Ripple Attorney Calls out Coinbase’s Double Standards on XRP
- 🚀 Bank of America’s Crypto Research Division Publishes Tokenization Report
- 🔥 3AC Founders Pledge To Donate OPNX Future Earnings To Creditors
Crypto Market Watch
Investing $100 in Shiba Inu could turn you into a Shiba millionaire…well, in numbers at least!
The highest recorded price of Shiba Inu would turn your $100 into a drool-worthy $1,324.50.
Twice weekly crypto goodness, coming your way! Catch us every Monday, Tuesday and Friday. And hey, don’t forget to check us out on Wednesdays for all the latest AI news – because why limit yourself to just one kind of intelligence?
