The Fractal Bitcoin extension solution developed in collaboration between UniSat and Block Space Force announced on its social media platform that before the launch of the Fractal mainnet, the current testnet will undergo several resets. During this stage, testnet tokens will only be distributed to the initial development team for testing core functionalities. Testnet tokens have no actual value or incentive measures and will not be converted to the mainnet in any way.
In addition, the testnet will soon be open to everyone, and the community will have enough time to experience it.
According to the official website, Fractal is a Bitcoin extension solution that recursively extends infinite layers on top of Bitcoin using the Bitcoin core code itself. It can achieve block confirmation times of 30 seconds or less and increase capacity by 20 times per layer.
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Super Micro Computer is set to replace Walgreens Boots Alliance in the Nasdaq 100 index from July 22. The markets experienced a recovery on Friday, with the S&P 500 and Nasdaq Composite closing higher, while the Russell 2000 continued its rally with a weekly gain of 6.5%. Earnings season has begun, with Citigroup, JP Morgan, Wells Fargo, and Goldman Sachs reporting their second-quarter earnings. The estimated growth rate for the season has been revised up to 9.3%, but there are other estimates that place it in a range of 12-16%, indicating high expectations for this quarter. Alphabet is reportedly in advanced talks to acquire cloud cybersecurity firm Wiz for $23 billion, while Burberry Group's shares have fallen by almost 17% after the luxury brand issued a profit warning and suspended its dividend, with plans to replace its CEO. Blackrock's shares remain unchanged in premarket trading despite missing revenue estimates but beating earnings, while Goldman Sachs' stock rose by just under 1% premarket after beating both revenue and earnings estimates. The market is also keeping an eye on the continued rotation into small cap stocks and the recent rally in bitcoin.
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According to BitInfoCharts data, a Bitcoin address that has been dormant for over 10 years transferred all of its holdings of 25.03 BTC at 21:31:29 today, worth approximately $1.56 million.
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US stock digital currency concept stocks rose, with Coinbase (COIN.O) up 5.5%, Bit Digital (BTBT.O) up 4.7%, MicroStrategy (MSTR.O) up 8.25, and Riot Platforms (RIOT.O) up 4.7%.
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John Bigatton, the Australian promoter of the defunct cryptocurrency exchange BitConnect, has been convicted by the Sydney District Court for providing unlicensed financial advice. He was sentenced to a three-year recognizance of good behavior and disqualified from managing corporations for five years. Bigatton promoted BitConnect through seminars and social media, promising high returns to investors. ASIC Deputy Chair Sarah Court stated that providing unlicensed financial advice undermines trust and confidence in Australia’s financial services industry.
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The funding round that caught my attention the most in the past two weeks was Sentient. The AI-crypto startup pulled off the biggest seed funding round in the crypto industry this year, raising an impressive $85 million. The round was co-led by three high-profile investors: Peter Thiel's Founders Fund, Pantera Capital and Framework Ventures, with additional participation from other notable backers.

As I reported at the time, Sentient raised this massive amount in just three months despite being in the very early stage of developing its platform. The specifics of the platform's functionality are still under wraps. So, what about Sentient has drawn investors to bet big on it?

I interviewed all three co-lead investors of Sentient and three of its participating investors. Each of them is most impressed by Sentient's four co-founders or core contributors: Polygon MATIC
+0.71%
's Sandeep Nailwal, distinguished engineering professors Pramod Viswanath and Himanshu Tyagi, and AI venture development startup Sensys, founded by Kenzi Wang of Symbolic Capital. This team's background and capability played a big role in investors' decision to back Sentient.

"The main thing about Sentient really comes down to the quality of the team," Joey Krug, partner at Founders Fund, told me. "I've known both Sandeep and Pramod for years," he said, adding that they are really sharp in their respective technological fields.

Jack Platts, founder of Hypersphere Ventures, also said he's known Nailwal and Wang for years and that he likes "investing in friends, especially ones who have a history of success." Keli Callaghan, partner at Arrington Capital, said, "The most impressive element of Sentient is the team behind it."

Besides the team, Sentient's investors are also impressed by its vision. The startup aims to develop a community-built open-source artificial general intelligence (AGI) platform. AGI is a type of AI designed to perform any intellectual task that a human can do and potentially surpass human abilities in many areas. Creating AGI is a major aim of big AI giants like OpenAI, Google DeepMind and Amazon-backed Anthropic. While current AI models like ChatGPT excel with specific tasks, they don't possess general intelligence capabilities akin to human cognition.

Sentient aims to directly compete with OpenAI-like organizations but differs in its approach to building open-source, monetizable AGI with community contributions. Sentient aims to empower developers to collaborate to build AI models, monetize their models and data and become key stakeholders in the open AGI economy. That's a challenging task, especially for a young startup competing with massive tech giants.

"What Sentient is trying to do is pretty difficult," acknowledged Krug. "When we wrote the first check, it was actually sort of unclear whether it was even possible," Krug said. But now he thinks Sentient has made decent progress, showing early indications that its platform is technically feasible.

Krug explained Sentient's vision by drawing an analogy to Ethereum ETH
+1.05%
, which is open source, but users have to pay to use it. He said that on Sentient, users would pay to use AI models, verified by a signed cryptographic message, to receive responses to their queries. This approach, he said, aims to solve the economic problem of open-source AI. Again, he acknowledged that it is not an easy job, but told me the likelihood that Sentient will solve that problem "to some degree is very high."

If AI development stays closed source, many crucial aspects of society will be vulnerable to the centralizing effects of censorship and rent-seeking, said Pantera Capital's managing partner Paul Veradittakit. Sentient's open, monetizable and loyal (OML) AI models would have "great potential to disrupt the AI development industry," according to Veradittakit.

Brandon Potts, partner at Framework Ventures, said Sentient's open and monetizable AI models "will supercharge the open-source community" as that would be in "stark contrast to the status quo of big tech incumbents, walled gardens, and data silos dictating the future of AI." Potts said the Sentient team is "the most capable team" working to tackle the economic problem of open-source AI.

Sentient plans to launch its testnet by the end of the current quarter. Will it turn its ambitious vision into reality or stumble under pressure? That remains to be seen. For now, its investors are highly bullish on the team's ability to deliver on its promises.
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Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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According to data from the Ethena official website, as of July 14th, the supply of USDe has dropped to 3.41 billion, and the reserve fund of stablecoin protocol Ethena is currently maintained at $45.4 million.
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This year, the meme coin market has experienced a significant surge, but many of these projects have been plagued by scams and serious vulnerabilities. Such projects are unlikely to last long. In fact, Solana saw nearly half a million tokens launched last month alone, highlighting the rapid expansion of meme coins.
However, amidst this wave of new tokens, a few meme coins are striving to go beyond the hype and build something substantial—an ecosystem with real value and utility. One such project that is making significant strides is LAIKA.
What is LAIKA?
LAIKA is a Solana-based meme coin that launched in early 2024. The project quickly gained attention for its innovative and ambitious initiatives. In June 2024, LAIKA completed its Token Generation Event (TGE), marking a crucial step in its development. Among its notable achievements, LAIKA sent a toy Laika dog into Earth’s lower orbit as part of its presale campaign. This unique event captured the imagination of the crypto community and underscored LAIKA’s commitment to creating memorable and engaging experiences.
Following the TGE, LAIKA was listed on prominent exchanges such as MEXC and Bitget, as well as Solana-based decentralized exchanges (DEXs) like Raydium and Jupiter. These listings have significantly increased LAIKA’s visibility and accessibility, allowing a wider audience to engage with its ecosystem.
Ecosystem Approach
LAIKA’s approach goes beyond the typical meme coin hype by building a comprehensive ecosystem designed to engage users and provide real utility. The ecosystem includes several innovative products, each contributing to the overall user experience.
Laika Wallet
The Laika Wallet is a cornerstone of the LAIKA ecosystem, available on both the App Store and Google Play Store. It is designed to be user-friendly and accessible, even for those new to crypto. By leveraging the latest Multi-Party Computation (MPC) technologies, the wallet eliminates the need for traditional seed phrases and complex security measures. Users can access their wallets through standard authorization methods such as email or social media accounts, ensuring ease of use while maintaining decentralization and security.
The Laika Wallet also integrates seamlessly with other products in the LAIKA ecosystem, including decentralized exchanges, marketplaces, and staking platforms. This integration creates a comprehensive platform for managing crypto assets, enhancing the user experience.
Laika Metaverse and Moon Mission Game
LAIKA is also developing the Laika Metaverse, an immersive virtual environment where users can explore, interact, and engage in various activities. The Laika Moon Mission Game is another exciting upcoming product that will allow users to utilize $LAIKA tokens in a fun and interactive mobile game. Players can participate in missions, tournaments, and leaderboard challenges, earning rewards and enhancing their engagement with the LAIKA community. This game is set to be released soon and promises to add a new dimension to the LAIKA experience.
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Roadmap and Community Engagement
LAIKA’s roadmap is filled with ambitious plans and milestones. The project has already achieved significant progress, including the successful launch of its token and the development of key ecosystem products. Future plans include further expanding the ecosystem, enhancing community engagement, and continuing to innovate within the meme coin space.
Community engagement is a vital aspect of LAIKA’s strategy. The project regularly launches contests and initiatives to keep the community active and involved. Recent contests include a meme contest where participants were rewarded for creating humorous and creative memes depicting the $LAIKA price 24 hours after listing. The winner received $1000 in LAIKA tokens, demonstrating the project’s commitment to rewarding community creativity.
Another engaging initiative is the Deepfake Dance contest, where participants create deepfake videos of dancing figures with Laika’s face. These contests provide entertainment and  foster a sense of camaraderie and participation among community members.

About LAIKA
LAIKA is a Solana-based meme coin project that launched in early 2024. It distinguishes itself by building a comprehensive ecosystem designed to engage users and provide real utility beyond the typical meme coin hype. Key features of the LAIKA ecosystem include the user-friendly Laika Wallet, the immersive Laika Metaverse, and the upcoming Laika Moon Mission Game.
These products aim to simplify crypto access, enhance user engagement, and integrate various decentralized finance (DeFi) functionalities. LAIKA’s community-driven approach includes regular contests and initiatives, fostering a vibrant and active user base. Listed on major exchanges such as MEXC, Bitget, and Solana-based DEXs like Raydium and Jupiter, LAIKA continues to innovate and expand its ecosystem, setting new standards for meme coins in 2024.
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This post is commissioned by Blockman and does not serve as a testimonial or endorsement by The Block. This post is for informational purposes only and should not be relied upon as a basis for investment, tax, legal or other advice. You should conduct your own research and consult independent counsel and advisors on the matters discussed within this post. Past performance of any asset is not indicative of future results.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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As monitored by HODL15Capital, as of the time of publication, the US Bitcoin spot ETF held a total of 888,607 BTC, setting a new historical high.
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Data shows Bitcoin mining has achieved a sustainable energy utilization rate of 56.2%, reaching a new historical high.
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On July 13th, it was reported that FTX creditor Sunil posted on X platform that a document on July 12th showed that FTX had reached a settlement with the US Commodity Futures Trading Commission (CFTC), and the $4 billion claim by the CFTC will be prioritized after all creditors and interest. The payment to the CFTC will go into a supplementary restitution fund to compensate cryptocurrency holders who have suffered significant losses.
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Jupiter posted on social media that 6 days ago, Active Staking Rewards (ASR) were launched for the first time and since then, over 166,000 wallets have claimed the reward.In addition, based on community feedback, the team has identified two key changes for the next round later this year:1. Too much Dust:Approximately 148,000 wallets have less than 10 JUP staked to receive LFG airdrop, which means some rewards are left unclaimed due to being too small. In the future, voters will need to stake at least 10 JUP (during voting) to be eligible for ASR. This will ensure that more tokens flow to real users rather than being used for governance witch-hunting.2. How to handle unclaimed ASR:ASR has a 30-day claiming window, but not everyone will claim it. After discussion, the team has decided to refund all unclaimed ASR funds to the DAO treasury, and the DAO can decide its future use.
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The Russian Ministry of Finance proposed allowing a limited number of "specific qualified" investors to trade cryptocurrencies on exchanges. The ministry's drafted response was aimed at two proposed laws that seek to regulate cryptocurrency mining and digital currency settlements within an experimental legal framework. Specifically, the ministry suggested allowing all foreign economic activity (FEA) participants to settle transactions using digital assets in accordance with general regulations, which means recognizing digital assets as having monetary value. As an experimental measure, the ministry further proposed only allowing cryptocurrency trading on exchanges and platforms listed in the official registry, and treating cryptocurrencies as commodities. However, the document did not specify the criteria for classifying these investors.
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According to Solana Floor's post on X platform, the global purchase volume of SOL has increased significantly compared to 2023, with a growth rate of up to 1650%, making it the highest among mainstream cryptocurrencies.
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According to Bloomberg, Bitcoin mining company Northern Data predicts that its revenue may double this year with its expansion in the high-performance computing field. Northern Data expects sales to reach between 520 million and 570 million euros in the 2025 fiscal year. The company stated that its recent financial statements were audited by Liebhart & Kollegen and Harris & Trotter.
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Ronin officially announced on X platform that the top three projects in terms of DAU ranking in their ecosystem network are Pixel, Apeiron, and Axie Infinity, with daily active user numbers of 454,000, 113,000, and 55,000 respectively.
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Shares of Iris Energy dropped by 14% following a report by a short seller claiming that the company's Childress site was not suitable for hosting AI or HPC. However, broker Bernstein notes that the company had not intended to retrofit the site for AI and that the existing infrastructure works well for bitcoin mining. Bernstein estimates that 65% of the company's value comes from bitcoin mining and the remaining 35% from AI/HPC, with potential AI upside coming from the West Texas site. The broker initiated coverage of Iris Energy with an outperform rating and a $26 price target.
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According to Reuters, European fund giant DWS (DWSG.DE) has created a new company as part of its plan to launch its first German-regulated cryptocurrency next year.DWS, which is owned by Deutsche Bank and manages €941 billion (approximately $1 trillion) in assets globally, plans to launch the first euro stablecoin regulated by the German financial supervisory authority by 2025. The German financial supervisory authority declined to comment.
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According to official sources, former Messari analyst and VariantFund investment partner Mason Nystrom has announced his joining of the Pantera Capital investment team.
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