This article comes to you with the generous support of Betplay.io. Discover the excitement and rewards that await you at Betplay.io with a 100% welcome bonus and 10% weekly cashback!Crypto Market UpdateTable of ContentsCryptocurrency Market UpdatesBitcoin bulls struggle as Mt. Gox creditors receive payoutsEthereum ETFs see $600M in volume, prices dipdYdX Trading Inc. negotiates v3 software sale amid DNS attackTelegram's user base surges to 950M with crypto gamingGaming and EntertainmentAtari launches Onchain Arcade on Ethereum Layer 2Illuvium to launch triple-title gaming ecosystemBinance Labs invests in Catizen gaming botFinancial Products and InvestmentsHamilton Lane launches $920.7B credit fund on SolanaFranklin Templeton invests in Bitlayer's Bitcoin Layer 2Hacks and SecurityWazirX seeks partnerships after $230M hackDebt Box co-founder allegedly kidnapped in DubaiRegulatory and ComplianceWorldcoin denies insider trading allegationsGate.io halts services for Japanese customersUnique and Novel ProductsOndo Finance introduces USDY on CosmosMarket Reactions and Rumors"Biden Dead" and "Biden Done" market caps rise on false rumorsTechnology and DevelopmentSingularityNET invests $53M in AI supercomputerAethir and APhone launch 10x scaling for decentralized smartphonesAvail launches mainnet and AVAIL tokenIgloo, Inc. secures $11M for Ethereum Layer 2 initiativesBitcoin bulls struggle as Mt. Gox creditors receive payoutsBitcoin bulls failed to protect $66,000, seeing the price slightly drop below this level amidst Ether ETF launches. Meanwhile, Mt. Gox creditors began receiving Bitcoin and Bitcoin Cash on Kraken after the exchange moved 47,500 BTC (worth $3.2 billion) to various addresses. The transfers contributed to Bitcoin's price drop to $66,000 earlier today due to increased selling pressure. BTC's net ETF inflows reached $486 million, despite market volatility.Ethereum ETFs see $600M in volume, prices dipEthereum ETFs reached $600 million in volume within three hours, led by Grayscale's ETHE at $270 million and BlackRock's ETHA at $133.5 million. Preliminary data showed $112 million in inflows in the first 15 minutes, with Bitwise leading at $25.5 million. Despite high inflows, Ethereum's price dropped by 1.16%. Analysts suggest this "buy the rumor, sell the news" pattern could mirror Bitcoin ETF behavior, potentially impacting prices. Market sentiment remains cautious due to large Bitcoin movements by the US government and Mt. Gox. Predictions for annual Ethereum ETF inflows range from $1 billion to $6 billion, with competition among issuers intensifying through fee reductions and unique strategies.dYdX Trading Inc. negotiates v3 software sale amid DNS attackdYdX Trading Inc. was negotiating the sale of its v3 derivatives trading software, which generated $137 million in fees from $466.3 billion trading volume in 2022. Concurrently, the v3 platform's user interface was compromised in a DNS attack, with users advised to avoid the site. No smart contracts were breached, and v4 on Cosmos remained unaffected.Telegram's user base surges to 950M with crypto gamingTelegram's active user base has surged to 950 million, fueled by the popularity of crypto gaming and The Open Network (TON). Notcoin and Hamster Kombat's integration with Telegram has attracted millions, with Hamster Kombat becoming the fastest-growing digital service globally. This growth underscores Telegram's evolution into a major hub for crypto enthusiasts and gamers alike.Atari launches Onchain Arcade on Ethereum Layer 2Atari launches Onchain Arcade on Base Network, partnering with Coinbase to bring classic games like Asteroids to Ethereum Layer 2. Despite a 28% decline in blockchain gaming, Atari plans weekly competitions with Atari 2600+ prizes. Atari aims to expand its on-chain gaming offerings amid market challenges.Illuvium to launch triple-title gaming ecosystemIlluvium is gearing up to launch its triple-title gaming ecosystem on July 25th, backed by $100 million in funding. Featuring interconnected games like Illuvium: Overworld, Arena, and Zero, the platform emphasizes blockchain-based asset ownership via the ILV governance token. Players can seamlessly transfer assets across games, enhancing gameplay and ownership experience.Binance Labs invests in Catizen gaming botBinance Labs has invested in Catizen, a Telegram-based gaming bot aimed at revolutionizing web3 entertainment on the TON network. The funding round led by Binance Labs underscores growing interest in GameFi projects like Catizen, which boasts 25 million players and aims to enhance user engagement through innovative play-to-airdrop models. This investment aligns with Binance Labs' strategy to support web3 adoption and innovation in crypto gaming.Hamilton Lane launches $920.7B credit fund on SolanaHamilton Lane launches a $920.7 billion private credit fund on Solana, facilitated by LibreCap's tokenization expertise. This move democratizes wealth management, lowering the investment threshold to $10,000 from $250,000. It underscores Solana's appeal for blockchain-based financial products, aiming to broaden access and efficiency in alternative asset investments.Franklin Templeton invests in Bitlayer's Bitcoin Layer 2Franklin Templeton has invested in Bitlayer's Bitcoin layer-2 infrastructure, valuing it at $300 million. Bitlayer secured $16 million, including $11 million in Series A funding, with participation from Franklin Templeton and others like Framework Ventures. The funding will fuel Bitlayer's expansion, focused on its Bitcoin Layer 2 network utilizing the BitVM system, known for its security and scalability in the Bitcoin ecosystem.WazirX seeks partnerships after $230M hackWazirX, an Indian exchange, is seeking partnerships to recover from a recent $230 million hack. The breach compromised over 200 cryptocurrencies, prompting a temporary trading pause. Despite a $23 million bounty program and ongoing recovery efforts, the return of funds remains uncertain amid alleged links to North Korea's Lazarus Group.Debt Box co-founder allegedly kidnapped in DubaiThe co-founder of Debt Box, a crypto company sued by the SEC, was allegedly kidnapped in Dubai, where he was forced to relinquish control of the company and over $400 million. Jason Anderson's ordeal involved mental coercion over two weeks, implicating business partners in a high-stakes financial and legal dispute.Worldcoin denies insider trading allegationsWorldcoin has denied allegations of insider trading and price manipulation, emphasizing its zero-tolerance policy towards such practices. According to a spokesperson, strict confidentiality rules prevent anyone covered by their policies from disclosing information impacting Worldcoin (WLD) purchases. The project recently postponed unlocking 80% of its tokens for two years, coinciding with a significant price surge.Gate.io halts services for Japanese customersGate.io has decided to halt its services for Japanese customers, citing regulatory demands from the Financial Services Agency (FSA). The exchange, headquartered in the Cayman Islands, will cease new account openings and assist users in transferring their assets to compliant platforms. Gate.io will also remove Japanese language content from its site as part of its compliance efforts.Ondo Finance introduces USDY on CosmosOndo Finance introduces USDY, a tokenized treasury product on Cosmos via Noble, marking a first in the ecosystem. Backed by U.S. Treasuries and bank deposits, USDY offers a 5.3% APY. Noble has $246M in stablecoin market cap, with $USDY at $323M, supporting DeFi across Cosmos appchains like Injective and Osmosis."Biden Dead" and "Biden Done" market caps rise on false rumorsThe market cap for "Biden Dead (BIDEAD)" reached $660,000, followed by "Biden Done (BIDONE)" hitting $567,000. These rumors were sparked by a "verified source" claiming Biden was unlikely to survive COVID-19. However, his physician confirmed normal vitals and nearly resolved symptoms, dispelling the false claims.SingularityNET invests $53M in AI supercomputerSingularityNET is allocating $53 million towards developing an AI 'supercomputer' and new data centers. This initiative aims to bolster artificial general intelligence (AGI) research by creating modular hubs that can adapt and scale with advanced components for optimal performance and flexibility.Aethir and APhone launch 10x scaling for decentralized smartphonesAethir and APhone have launched a 10x scaling solution for decentralized smartphones, promising a 90% reduction in mobile user costs. Utilizing Aethir Edge, the partnership enhances Web3 mobile apps' speed and efficiency. APhone's capacity now supports over 800,000 users concurrently, slashing monthly costs to under $0.60, down from $6.Avail launches mainnet and AVAIL tokenAvail, a blockchain project, has launched its mainnet, Avail DA, and introduced the AVAIL token. This enhances data availability across blockchains with a new layer combining validity proofs and sampling. Backed by $75 million in funding, Avail aims to compete with other DA solutions like Celestia and NEAR Protocol, leveraging partnerships with major Layer 2 ecosystems. Top Altcoin Gainers and LosersGainers: Ethereum Name Service ENS (+10.17%) Helium HNT (+5.56%) Ethereum Classic ETC (+1.21%) Losers:Mog Coin MOG (-14.05%) Celestia TIA (-12.99%) Popcat POPCAT (-11.00%) NFT Market MapIgloo, Inc. secures $11M for Ethereum Layer 2 initiativesIgloo, Inc. has secured $11 million in funding to bolster its Ethereum Layer-2 initiatives following the acquisition of Frame by Pudgy Penguins in June. This investment underscores their commitment to advancing crypto technology. The move aims to enhance scalability and user experience within the crypto ecosystem, addressing critical industry challenges. Igloo, Inc. plans to leverage the funding to expand its platform capabilities and infrastructure, positioning itself as a key player in the Layer-2 solutions space.This article has been refined and enhanced by ChatGPT.