Bain Capital has been an active investor in crypto since its initial fund launch, participating in a $115 million round for Sam Altman’s Worldcoin. Source
Bain Capital Crypto Raising Second Fund: Filing
Category: ICO
Protocol Village: Gnosis DAO Spins off Karpatkey
The latest in blockchain tech upgrades, funding announcements and deals. For the week of June 2, 2024. Source
The Promises and Perils of Private Asset Tokenization
Blockchain’s transparent and immutable ledger allows token holders to access real-time information about their investments, fostering greater transparency in traditionally opaque markets. This visibility is a game-changer for monitoring cash flows and performance of credit portfolios, although tokenization does not alter the underlying characteristics of the instruments. Whether on-chain or off-chain, assets’ underlying risks, and the importance of due diligence, remain the same. Source
Uniswap, Starknet, BNB Lead Altcoin Gains as Bitcoin (BTC) Price Hits $71K
Looking at the largest digital asset, bitcoin topped $71,000 for the first time since May 20 before paring gains and reversing to the low $70,000s. A fresh set of U.S. manufacturing data Monday hinted at a cooling economy, potentially putting interest rate cuts back on the Federal Reserve’s view later this year to loosen financial conditions. Source
SEC to Shutter Office Behind Failed Debt BOX Crypto Lawsuit
The Securities and Exchange Commission’s Salt Lake City office – notorious in the crypto world for its failed fraud lawsuit against DEBT Box – will shut down after seeing “significant attrition” among its staff, some of whom were pushed out over the case. Source
Ethereum’s ETH Price Poised for Rally as ETFs Could Attract $4B Inflows in Five Months, K33 Research Says
Based on current prices, this would equal 800,000 to 1.26 million of ETH accumulated in the ETFs, or roughly 0.7%-1.05% of the total supply of tokens, creating a supply crunch for the asset, according to the report. Unlike futures-based products, the issuers of spot ETFs will need to buy tokens in the spot market as investors buy ETF shares. Source
BNB Token Less Than 10% From Record High
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Indian Election Result Sends Equity Market Crashing With Uncertain Implications for Crypto Legislation
While Modi’s Bharatiya Janata Party (BJP) and its allies are poised to return to power, they didn’t hit the supermajority mark of 370 plus seats in India’s 543-seat lower house of parliament, which they predicted. In fact, the BJP alone did not hit the halfway mark of 272, which it had comfortably crossed in the 2019 election. The result hands kingmaking power to his allies, and the opposition led by the Indian National Congress could attempt to lure them away. Source
Multicoin, Coinbase Ventures Invest in Latin America-Focused Stablecoin Payment App El Dorado
El Dorado, which is available in Argentina, Brazil, Colombia, Panama, Peru and Venezuela, provides a cheaper way to send, exchange and pay using blockchain as payment rail. The platform charges 0.6% fee for cross-border payments, significantly less than the industry average, while in-app payments are free. Source
Polygon Spinoff Avail Raises $43M in Series A Funding
“With this new capital, we are poised to accelerate our development, expand our global presence, and continue to address the most critical challenges facing Web3 today, such as blockchain fragmentation, insufficient data availability, and limited scaling,” Avail co-founder Anurag Arjun said in a press release. Source