🥊 Justin Sun Takes Aim at cbBTC Launch

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Coinbase launched its highly-anticipated Bitcoin-backed ERC-20 token, cbBTC. Its rollout seeks to capitalize on the controversy surrounding Wrapped Bitcoin’s pending restructure, which will associate the project with Tron’s controversial founder, Justin Sun.

The Open Network (TON) is predicting that the upcoming airdrops from Hamster Kombat and Catizen will disrupt the network. The comments come after TON went offline for seven hours amid the recent DOGS airdrop.

No mention was made of crypto during the Harris-Trump debate. Both candidates failed to solidify a lead through the event, with Polymarket punters trading presidential futures at near-even odds.

One cunning trader purchased a seven-figure CryptoPunk for just 10 ETH by taking advantage of shares offering fractionalized ownership in the NFT.

Plus, Sony’s L2 joins Chainlink’s Scale program, markets post modest gains, Worldcoin says Singapore isn’t investigating it, Sun Pump fails to ride memecoin mania, Atlas L2 launches testnet, Rollbit’s RLB rallies, and Magic Eden incentivizes NFT and Ordinals trades.

✍️ In today’s newsletter:

Coinbase commences cbBTC rollout
TON expects outages amid massive airdrops
Crypto was not mentioned during the presidential debate
CryptoPunk worth millions sells for 10 ETH
Sony taps Chainlink for cross-chain infrastructure
Markets post modest gains on PPI data
Worldcoin not under investigation in Singapore
SunPump falls flat
Atlas launches private testnet
Rollbit rallies but onlookers doubt revenue
Magic Eden boosts incentives for NFT traders

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️🆕 Coinbase Begins cbBTC Rollout

cbBTC, the Bitcoin-backed ERC-20 from Coinbase, is now live on Ethereum and Base. The launch aims to take advantage of concerns surrounding Justin Sun’s looming involvement with Wrapped Bitcoin, but Sun is throwing shade at the new token.

🪂 TON Forecasts Outages As Hamster Kombat and Catizen Airdrops Loom

The Open Network expects to suffer disruptions during the upcoming airdrops from Hamster Kombat and Catizen. TON went offline for seven hours during the recent DOGS token generation event.

🇺🇸 Polymarket Shows Heated Presidential Race After Trump-Harris Debate

Polymarket’s election markets show neither presidential candidate forging a lead following the first Harris-Trump debate. The subject of cryptocurrency was notably absent from the debate.

👀 Multi-Million Dollar CryptoPunk NFT Sells for 10 ETH

A clever trader used fractionalized shares to buy a CryptoPunk valued at $3.2 million for just 10 ETH at a 99% discount. The buyer scooped up shares from the defunct Niftex marketplace.

⛓️ Sony To Integrate Chainlink For Cross-Chain Interoperability For Soneium L2

Soneium, the forthcoming Layer 2 from Sony, is deepening its integration with Chainlink. Soneium joined Chainlink’s Scale program, launched Chainlink’s data feeds on its testnet, and will use Chainlink’s Cross-Chain Interoperability Protocol for its cross-chain infrastructure.

📈 Markets Rise After U.S. Wholesale Inflation Report

Cryptocurrencies enjoyed modest gains after the Bureau of Labor Statistics published an updated Producer Price Index. However, on-chain data shows slowing on-chain activity from whales.

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🔎 Worldcoin Says It Isn’t Under Investigation In Singapore

Worldcoin said it isn’t being investigated by Singaporean authorities. The announcement comes after Singapore’s deputy prime minister said the country is investigating unlicensed sales of Worldcoin accounts and WLD tokens.

☀️ SunPump Activity Plummets as TRX Falls Out of Top 10

SunPump, Tron’s memecoin launchpad, is struggling to gain the traction needed to rival Solana’s PumpFun. The sluggish activity coincides with Tron’s TRX token no longer ranking among the top 10 cryptocurrencies by market cap.

🌐 Ethereum Layer 2 Atlas Launches Private Testnet

The private testnet for Atlas, a Solana Virtual Machine-compatible Ethereum Layer 2, is live. Ellipsis Labs, the development team behind Atlas, closed a $20 million funding round in April.

🎲 Crypto Casino Rollbit’s Token Soars, But Transparency Concerns Linger

RLB, the native token of the Rollbit crypto casino, is among the top-performing assets of the past 30 days with a 66% gain. The move followed Ansem, a popular web3 influencer, drawing attention to the project’s high revenue, but many onlookers don’t trust the data.

💎 Magic Eden Offers 50% Diamond Bonus For Buying NFTs or Ordinals

Magic Eden is hoping to maintain its position as the largest NFT marketplace through boosted incentives for traders. Magic Eden accounted for 36.7% of NFT volume to mark its six-straight month leading the sector, followed by Blur with 25%, and OpenSea with 20%.

🌍 ELSEWHERE

Ethereum's Vitalik Buterin Amps Up Pressure on Layer-2 Networks to Decentralize Further (CoinDesk)
Grayscale launches new XRP closed-end fund, token jumps 8% (The Block)
eToro limits crypto trading to only 3 assets, including Bitcoin, after $1.5M SEC settlement (CryptoSlate)
Betting Platform Kalshi Cleared to Offer Election Wagering in U.S. (Unchained)