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Lionel Messi Promotes Obscure Meme Coin on Instagram, Leading to 350% Surge
Soccer legend Lionel Messi promoted Solana-based meme coin WATER on his Instagram story on Monday, prompting a 350% surge in the token's price. Messi shared an image displaying the token's mascot, a cartoon glass of water, perched on his shoulder, with a link to the project's Instagram page on Monday. WATER jumped from $0.00032 to $0.00146 in the two hours following the post, a surge of 356%. WATER subsequently pulled back and sits at just over $0.001 at the time of writing, up 215.6% in the last 24 hours, according to data by CoinMarketCap. The token has a market cap of around $94 million and a 24-hour trading volume of slightly under $40 million. The project's website says WATER "aims to have a net-positive impact on real world with the help of charity," though it doesn't elaborate how. One of the exchanges it is available for purchase is Bitget, which may explain Messi's apparent endorsement. The Argentinian Inter Miami star has been partnered with Bitget since October 2022.
Move Over Hollywood: Why Gaming Is the New King of Entertainment
To stay relevant in this dynamic environment, the entertainment industry must integrate emerging technologies like blockchain, or be satisfied with increasingly reduced engagement, says Yemel Jardi, co-founder of Decentraland.
Ether ETF Fee Race Begins as Invesco Reveals 0.25% Charge, Slightly Higher Than VanEck
Asset managers Invesco and Galaxy will charge investors a 0.25% management fee on its proposed spot ether {{ETH}} exchange-traded fund (ETF) if and when it is rolled out. This is just slightly higher than VanEck’s 0.20%, which was disclosed last month. With eight issuers looking to launch an ether ETF at the same time, fees will play a critical role in differentiating a product from the others and appealing to investors. Grayscale’s higher-than-normal 1.5% fee on its bitcoin {{BTC}} trust caused it, among other reasons, to bleed billions of dollars while others saw mostly inflows. Management fees are used by issuers to pay for the maintenance of a fund, such as for marketing costs, salaries and custodial services.
Former FTX Execs Nishad Singh, Gary Wang to Be Sentenced Later This Year
Former FTX Director of Engineering Nishad Singh and former Chief Technology Officer Gary Wang are set to be sentenced this fall in the ongoing criminal case against what was once a global crypto exchange before it collapsed in historic fashion near the end of 2022.
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