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Argentinian web3 founders are joining forces to launch a pop-up blockchain city in Buenos Aires come August. The Crecimiento movement seeks to take advantage of the pro-Bitcoin position articulated by Argentina’s recently elected president, Javier Milei.

Solana’s community has voted to abandon its token-burning mechanism in favor of giving 100% of priority fees to validators. While supporters argue the move improves transaction efficiency on Solana, opponents warn of increased SOL inflation.

Maple has launched Syrup Finance, a new protocol allowing users to fund USDC loans to institutions. The project will also migrate its MPL token to the new SYRUP token.

Draft EU regulations describe MEV as “market abuse.” The rules could require every EU-regulated crypto firm to identify and report MEV incidents.

Plus, Aptos overtakes Solana by transaction count, PEPE flips MATIC by market cap, Google Cloud brings infrastructure and AI to Fantom developers, and the MedTech company Semler Scientific adds $40 million in BTC to its treasury.

✍️ In today’s newsletter:

Blockchain city to descend on Buenos Aires
Solana bails on token burns
Maple launches Syrup Finance
EU regulator threatens to treat MEV as market abuse
Aptos processed 115 million transactions in one day
Ethereum memecoin rally propels PEPE past MATIC
Fantom developers to access Google Cloud AI
MedTech company bags $40M in BTC

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🎬WATCH

Check out our conversation with Ansem, a Solana-focused crypto influencer and analyst. Plus, watch our interview with Robert Viglione, co-founder of Horizen Labs, to discover how the project is driving down the costs associated with zero-knowledge proofs.

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🌆Argentina’s Crypto Founders Band Together To Build Blockchain Valley In Buenos Aires

Argentina’s grassroots crypto community is working to establish a “Blockchain Valley” in the nation’s capital. The Crecimiento movement has the support of local crypto executives and is working towards establishing a pop-up city in Buenos Aires during August.

🔥Solana To Ditch Token Burning and Divert 100% Of Priority Fees To Validators

The Solana community approved a proposal abandoning the network's token-burning mechanism to allocate 100% of priority fees to network validators. The move is intended to overcome the heavy congestion and high fees that have plagued Solana for months, but opponents warn of inflating SOL’s supply.

🥞Maple Launches New Protocol Enabling Permissionless Lending To Institutions

The new Syrup Finance protocol from Maple allows users to permissionlessly fund secured loans for institutional entities with USDC deposits. Maple is also migrating its MPL token over to SYRUP amid the launch.

🔨EU Threatens To Regulate MEV As ‘Market Abuse’

The latest draft consultation from the EU Securities and Markets Authority (ESMA) for Europe’s Markets in Crypto Assets (MiCA) regulatory regime described MEV as an example of “market abuse.” Crypto industry advocates warn that the rule would compel EU-regulated crypto firms to report MEV incidents if it were to take effect, and could subject MEV bot operators to regulatory action.

📈Aptos Surges Past Solana In Daily Transactions

Aptos hosted a record 115 million transactions on May 24 to overtake Solana by daily throughput. The surging activity was partly propelled by Tapos, a “click-to-earn” game built around tickling a cartoon cat.

🐸PEPE Flips MATIC As Ethereum Memecoins Soar

Leading Ethereum memecoins are furiously rallying, with PEPE briefly overtaking MATIC by market cap after gaining 55% in the past fortnight. TURBO also surged 450% in one week, with MOG and WOJAK also boasting triple-digit gains.

🤖Fantom Taps Google Cloud For Infrastructure and AI Capabilities

Google Cloud and Fantom are deepening their partnership, with Fantom developers receiving access to Google Cloud’s infrastructure and AI services. The deal will also see Google Cloud onboard as a Fantom validator.

🏥Healthcare Company Semler Scientific is the Latest to Add Bitcoin to its Treasury

Semler Scientific, a U.S.-based MedTech firm, has added $40 million worth of BTC to its treasury. “Our Bitcoin treasury strategy and purchase of Bitcoin underscore our belief that Bitcoin is a reliable store of value and a compelling investment," said Eric Semler, Semler Scientific's chairman.

🌍 ELSEWHERE

Top FTX Executive Sentenced to Seven and a Half Years in Prison (The New York Times)
One-Third of U.S. Voters Say They'll Weigh Candidates' Crypto Views Before Voting (CoinDesk)
Riot Platforms buys 9.25% stake in Bitfarms following rejected takeover offer (The Block)
Uniswap Foundation Reveals Assets and Fund Usage Ahead of Fee Switch Vote (Unchained)