TL;DR

• Web3 game developer Moonray Studio secured $8.25 million in funding through two separate financing rounds.

• PayPal successfully executed its first commercial transaction using its PYUSD stablecoin.

• Bitcoin mining company Terawulf sold off 25% of its shares in its nuclear-powered mining operation.

• The U.S. Bitcoin spot ETF experienced a net outflow of $54.03 million yesterday.

• CryptoPunk #1563 was reportedly sold for nearly $56.3 million, but some suspect it may have been an internal transaction aimed at generating publicity.

• Hong Kong’s Treasurer, Hui Ching-yu, emphasized the push to integrate virtual assets further into the mainstream financial market.

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Alpha of the Day

Moonray Studio Hits the $8.25 Million Jackpot

In a move that feels like leveling up in their own game, Web3 developer Moonray Studio secured a whopping $8.25 million from two funding rounds. Clearly, the investors believe that Web3 gaming is more than just a trend—it’s a whole new arena for digital entertainment. Moonray has been hustling behind the scenes to create a world where blockchain technology meets gaming nirvana, and with this boost, they’re definitely stocking up on the power-ups. Let’s hope the next level includes dragons or at least a way to stake NFTs while slaying them.

PayPal Dips Its Toes in Crypto With PYUSD

PayPal just hit send on its first-ever commercial transaction using its shiny new PYUSD stablecoin, marking its official entry into the crypto world. Yep, the app that’s been helping us awkwardly split dinner bills has finally embraced stablecoins. While the transaction itself probably wasn’t for pizza or an Etsy rug, it’s a big step toward PayPal making crypto accessible to the masses. Next stop? Buying coffee with stablecoins—and hopefully fewer awkward Venmo requests.

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Terawulf Offloads 25% of Nuclear-Powered Mining Shares

Bitcoin mining company Terawulf just sold off 25% of its shares in its nuclear-powered mining operation, and no, that’s not a plotline from a sci-fi film. It turns out, mining Bitcoin using nuclear energy is a real thing, and Terawulf is making sure it’s still in the game, albeit with a smaller piece of the pie. Maybe they’re freeing up some cash for solar-powered rigs? Either way, it’s proof that the fusion of high-tech mining and nuclear power is officially a thing. Let’s hope there’s no meltdown—both figuratively and literally.

Bitcoin ETF: Outflows and FOMO on the Horizon

Yesterday, the U.S. Bitcoin spot ETF saw a massive net outflow of $54.03 million, and we’re all left wondering: is this a dip or just investors playing hard to get? With rising tensions in the Middle East, investors are likely pulling their cash as they brace for volatility. Or maybe they’re just waiting for that next juicy market pump. Either way, this sudden outflow has everyone feeling a little nervous and a little FOMO’d—because when Bitcoin sneezes, the whole market catches a cold.

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CryptoPunk #1563: $56.3 Million or Just a Hype Move?

CryptoPunk #1563 just "sold" for a staggering $56.3 million, but wait—was it really a sale, or just a clever publicity stunt? The transaction has people side-eyeing whether this was just an internal move to pump the NFT's profile. It’s the kind of deal that makes you wonder if the real winner is the person who gets all the buzz or the one who’s holding the digital art. Either way, someone’s walking away with either a fortune or a lot of headlines. And hey, isn’t that kind of the same thing in the NFT world?

Hong Kong Goes All In on Virtual Assets

Hong Kong’s Treasurer, Hui Ching-yu, is ready to plug the city into the future with a push to further integrate virtual assets into the mainstream financial market. The message? Hong Kong isn’t playing catch-up anymore—it wants to lead the pack. With initiatives aimed at blending traditional finance with cutting-edge virtual assets, the city’s looking to be a major player in the global financial game. If Hui has his way, virtual assets could soon be as common as dim sum in the city’s economic landscape.

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