Binance's Bitcoin mining cloud ☁️, Borrows $200M for a $3 gain❓, Mercedes-Benz trials ChatGPT 💬
Daily Crypto, Blockchain & Web3 Update 2023-06-16
CRYPTOCURRENCY
Celsius seeks to convert alts to Bitcoin and Ether under reorganization plan (2 min read)
Celsius, a crypto lender that is no longer operating, updated its bankruptcy filing following a deal to be acquired by the Fahrenheit crypto consortium, pending approval from a New York bankruptcy court. The crypto lender filed its reorganization plan on June 15.
Under the revised plan, Celsius will convert all altcoins from customers, except “Custody and Withhold accounts,” to Bitcoin and Ether starting July 1.
Binance launches Bitcoin mining cloud services amid SEC crackdown in the US (2 min read)
Crypto exchange Binance announced the launch of new subscription-based mining products dedicated to Bitcoin mining.
From June 15, people can buy hash rates from Binance's cloud mining service if they want to mine Bitcoin but don't have the equipment. Hashrate is the computing power required for confirming and legitimizing Bitcoin transactions over the blockchain.
dApp Store kit adopts new tech stack to power Web3 gaming development (2 min read)
dApp Store Kit, which was initially incubated by Polygon Labs, will integrate Ready Games’ mobile game development toolkit to help developers roll out Web3 games.
dApp Store Kit’s toolkit for deploying EVM-compatible DApp stores will combine with Ready Games, allowing developers to integrate Web3 on-chain support. This will include the ability to integrate wallets and on-chain user profiles, as well as a DApp Store frontend stack to launch Web3 games.
DeFi options platform uses social logins, margin trading to draw in liquidity (3 min read)
A DeFi options platform using social logins and undercollateralized trading to draw in liquidity providers just launched, according to a June 15 announcement. The protocol, called “Synquote,” is capable of handling large trades with much less slippage than previous options platforms, the team claims.
BUSINESS
Crypto trading bot borrows $200M for a $3 gain (2 min read)
A trading bot used in cryptocurrency made many difficult moves on the Ethereum blockchain and borrowed $200 million quickly to gain only $3.24 profit.
On June 14, blockchain analysis firm Arkham Intelligence shared a breakdown of the bot’s movements. According to the firm, the transaction was made by an arbitrage bot that uses flash loans.
‘Hey Mercedes’ — Mercedes-Benz trials ChatGPT-powered voice control (3 min read)
Luxury car manufacturer Mercedes-Benz is integrating artificial intelligence into more than 900,000 vehicles as part of a new trial of a ChatGPT-powered voice assistant system.
The company announced on June 16 that the optional beta feature is now accessible to the owner of any vehicle equipped with the Mercedes-Benz User Experience (MBUX) interface, which currently accounts for more than 900,000 Mercedes-Benz cars in the United States.
Sweat Economy DAO votes to repurpose $10M of idle tokens (2 min read)
Move-to-earn platform Sweat Economy is set to repurpose over 2 billion native Sweatcoin tokens that were locked up in inactive user wallets.
The tokens, valued at around $10 million, were locked up in dormant user accounts following a token airdrop event in September 2022. Sweatcoin users who chose Web3's move-to-earn crypto offering got locked into SWEAT tokens for 24 months.
Ripple partners with Colombia’s central bank to explore blockchain technology (3 min read)
Banco de la República, Colombia’s central bank, is partnering with Peersyst and Ripple to pilot blockchain technology on the XRP ledger.
The Ministry of Information and Communications Technologies (MinTIC) in Colombia will oversee the project, which will use Ripple’s recently launched central bank digital currency (CBDC) platform.
NFTs
Sotheby’s auctions off Dmitri Cherniak’s ‘The Goose’ NFT from 3AC collection for $6.2M (2 min read)
Sotheby's sold digital art from Three Arrows Capital's collection for over $6 million.
According to auction records updated June 15, Dmitri Cherniak’s artwork ‘The Goose’ sold for roughly $5.4 million in addition to Sotheby’s premium fees, totaling just over $6.2 million. The non-fungible token (NFT) artwork was part of 3AC’s digital portfolio assembled in 2021. Su Zhu and Kyle Davies, 3AC's co-founders, purchased ‘The Goose’ in August 2021 for 1,800 Ether, roughly $5.8 million at the time.