Web3🌕Monday Landscape: Captain Tsubasa, Ethereum's Debate, Bitcoin's Price, and Genesis's Bankruptcy Plan

Introducing the latest developments in the dynamic realm of Web3, where innovation meets blockchain technology. Today's unveiling brings a blend of excitement and debate as iconic franchises make their blockchain debut, while Ethereum's ecosystem faces scrutiny. Join us as we delve into the details of Captain Tsubasa's historic launch on the Oasys blockchain, alongside the contentious discussion ignited by an Ethereum developer's involvement with EigenLayer. Furthermore, we'll explore Bitcoin's steady stance amidst market fluctuations and Genesis's significant strides toward returning assets to its creditors. Stay tuned for an in-depth analysis of these key events shaping the future of decentralized technologies.

1. Legendary Japanese Soccer Game Captain Tsubasa Debuts on Oasys Blockchain

Tokyo, May 20, 2024: The beloved Japanese soccer manga series Captain Tsubasa launches on the Oasys Blockchain. Developed by Mint Town, Co., Ltd. and BLOCKSMITH&Co., Captain Tsubasa -RIVALS- allows players to collect and nurture character NFTs. The game features dynamic 3D moves and music by Mondo Grosso. Players can engage in modes like Rival Mode, PvP, and Arena Mode. Exclusive GENESIS NFTs offer special features like Energy Boosts and increased withdrawal limits. Supported by soccer stars like Yuto Nagatomo and Andrés Iniesta, this release showcases the unique capabilities of blockchain technology in gaming.

Iconic Japanese Soccer Game Captain Tsubasa Launches on Oasys Blockchain - Decrypt

Tokyo, Japan, May 20th, 2024, GamingWire In a significant development for gaming and soccer fans, the blockchain version of beloved Japanese soccer manga series Captain Tsubasa has officially launched on the gaming-centric blockchain Oasys. Developed by Mint Town, Co., Ltd. and BLOCKSMITH&Co., a subsidiary of mobile gaming giant KLab Inc., Captain Tsubasa -RIVALS- offers an […]

Decryptgamingwire

2. Debate Arises Over Ethereum Developer's Paid Role at EigenLayer

Ethereum researcher Justin Drake's new adviser role at EigenLayer, worth millions, has stirred debate over potential conflicts of interest. Drake disclosed his significant token incentives, vested over three years, and emphasized his commitment to researching restaking risks. While some praised his transparency, others voiced concerns about the impact on Ethereum's integrity. EigenLayer, allowing ETH to be staked twice, partially launched on mainnet recently. Drake hopes to guide the project from within, avoiding past mistakes. The move highlights the delicate balance between innovation and ethical considerations in the blockchain space.

Ethereum dev’s paid EigenLayer role sparks debate on ‘conflicted incentives’

EigenLayer is giving Ethereum Foundation researcher Justin Drake “millions” for a role, but some commentators are concerned about a conflict of interest.

CointelegraphJesse Coghlan

3. Bitcoin Hovers Below $67,000 Amidst Sideways Trading

Bitcoin approaches $67,000, up 5% since May 13. Recent price action suggests potential for new highs. Despite a drop in weekly new addresses, the market sees bullish signs as smaller wallets liquidate their holdings. Bitcoin ETFs witness significant inflows of nearly $950 million over the past week. Meanwhile, Ether trades at $3,122 with anticipation for the SEC's decision on spot ETFs. Fund managers anticipate a potential rejection, citing a lack of active dialogue with the SEC compared to the approval process for Bitcoin ETFs.

Bitcoin lingers below $67,000 as sideways price action continues

The largest cryptocurrency by market cap had been trading around the $66,000 mark, up from its low of $64,700 last week.

The Block[email protected]

4. Genesis Prepares to Refund $3 Billion in Customer Assets with Finalized Bankruptcy Plan

In the Genesis bankruptcy case, creditors are set to receive 77% of their claims, while Digital Currency Group (DCG) won't be paid out. Cryptocurrency claims are trading at 97-110%, while fiat claims range from 73-91%. DCG's involvement in assuming $1.1 billion debt from Three Arrows Capital comes under scrutiny, raising questions about its financial practices. A lawsuit over missed loan payments ensued between DCG and Genesis, resulting in a settlement where DCG paid $227.3 million, with plans for an additional $275 million by April. The situation highlights complexities within the cryptocurrency industry, emphasizing the importance of transparency and responsible financial management. As the case unfolds, it underscores the need for regulatory oversight and ethical conduct to maintain investor trust and stability within the market.

Genesis Set to Return $3B Customer Assets in Finalized Bankruptcy Liquidation Plan

Bankruptcy claims began trading at 35% of account balance value when they were initially listed on claim trading marketplace Xclaim.

CoinDeskSam Reynolds

As we draw the curtains on today's Web3 journey, the landscape of blockchain technology reveals both promise and complexity. From the exhilarating launch of Captain Tsubasa on the Oasys blockchain to the thought-provoking debate surrounding Ethereum's development dynamics, each revelation has underscored the evolving nature of decentralized ecosystems. While Bitcoin maintains its ground amid market fluctuations and Genesis navigates the path of financial restructuring, the overarching theme remains one of innovation and resilience. As we look ahead, let's continue to explore the transformative potential of Web3, embracing the opportunities and challenges that lie ahead. Stay tuned for more insights, updates, and analyses as we navigate the ever-expanding horizons of decentralized technologies together.

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