SUI Plunges 6% Overnight Before Buyers Step in at $3.40 Support

Last week, the Consensus Toronto 2025 event took place. If you missed it, don’t worry, as you can catch up on all the amazing insights shared by global thought leaders in the digital asset space on day 1, day 2, and day 3 through CoinDesk’s coverage. You can also read more about it in the editorial coverage provided.

In today’s Crypto for Advisors feature, Shivani Phull from Pixelynx discusses how Black Mirror is utilizing blockchain to enhance fan content and engagement. Following that, Eric Tomaszewski from Verde Capital Management answers questions about the appeal of these products to the next generation of investors in Ask an Expert.

This week’s newsletter is sponsored by Grayscale, who is hosting an exclusive event, Crypto Connect, near Boston on Thursday, June 5. To learn more about this event, click here.

– Sarah Morton

Storytelling is evolving with the convergence of AI, blockchain, and intellectual property. Black Mirror’s experimentation with blockchain is leading the way for the future of entertainment monetization.

Traditional storytelling is no longer meeting the expectations of digital-native audiences. The rise of new technologies is reimagining how entertainment intellectual property is created and consumed.

Blockchain is revolutionizing the entertainment industry by providing a new layer of structure. It enables on-chain IP verification, composable rights, community ownership, and tokenized incentives for creators and fans.

Black Mirror has partnered with Pixelynx Inc. and KOR Protocol to bring the Black Mirror universe on-chain. Their latest initiative involves a token inspired by the Nosedive episode, where fans can earn exclusive experiences and rewards based on their social and wallet interactions.

The future of entertainment lies in embracing blockchain technology to create interactive, tokenized, and on-chain content. This shift marks the beginning of a new era for intellectual property – one defined by protection, participation, and sustainable monetization.

– Shivani Phull, CFO, Pixelynx Inc.

In Ask an Expert:
– Web3 ownership is more about participating in a system than just holding an asset.
– Reputation-based tokens can create economic value from behavior but introduce performance-based risk.
– These tokens can act as a new form of engagement yield for younger investors.

– Eric Tomaszewski, financial advisor, Verde Capital Management

For more industry news, check out the latest updates:
– JP Morgan to enable clients to invest in bitcoin.
– Robinhood to acquire Canadian crypto firm Wonderfi.
– The U.S. Senate advances stablecoin legislation with the GENIUS Act.
– Digital Assets: Month in Review, with insights on the crypto markets and ETF/ETP flows from Joshua de Vos of CoinDesk.

Bitcoin (BTC) made steady progress towards $85,000 during European trading hours on Tuesday, with traders eagerly anticipating the impact of U.S. tariffs set for Wednesday.

Leading the way with modest gains among major cryptocurrencies, Dogecoin (DOGE) and Cardano (ADA) saw an increase of over 7%, while others like ether (ETH), XRP, Solana’s SOL, and BNB Chain’s BNB rose nearly 5%.

According to CoinGecko data, the overall market capitalization saw a 3% decrease, with the CoinDesk 20 also experiencing a 3% bump in the last 24 hours.

The current market sentiment is largely risk-averse, as U.S. equities faced a downturn last week, with the S&P 500 recording a 3% decline, the worst since September 2023. This prompted investors to flock to safe-haven assets like gold, which reached new highs early Tuesday.

The upcoming tariffs, along with various U.S. economic and labor reports from the past month, have overshadowed crypto sentiment. Augustine Fan, head of insights at SignalPlus, highlighted the lack of significant catalysts, such as substantial ETF inflows, and a market that seems stuck in a low-conviction state as the quarter draws to a close – one that saw an 11% loss for bitcoin and the S&P 500’s biggest decline since Q2 2022.

On the futures front, speculative positions on bitcoin through the CME are currently the most bearish in years, marking a stark contrast from the bullish sentiment seen in January.

While there is uncertainty in the market, long-term holders show resilience, with Glassnode data indicating that holders with 3-6 month positions are seeing growing profits and trading at levels not seen since June 2021 – a sign of conviction over panic selling. Newer whales are also holding steady instead of selling off their positions, helping to stabilize bitcoin’s price floor, as highlighted by Glassnode.

Jupiter Zheng, a partner at HashKey Capital’s Liquid Fund and Research, views the tariff uncertainty and economic data dump as short-term challenges.

Despite the current dip in prices driven by risk-off sentiment, Zheng remains optimistic in the long term, noting the growing integration of crypto by institutions and the development of new regulatory policies worldwide to foster adoption.

David Bailey, CEO of BTC Inc., the company behind Bitcoin Magazine, is reportedly gearing up to launch a publicly traded bitcoin (BTC) investing company, as per sources familiar with the situation. Bailey, who provided counsel on crypto policy to Donald Trump during his 2024 presidential campaign, is said to be aiming to raise $200 million through a private share sale and an additional $100 million in convertible debt to establish a small publicly traded entity focused on acquiring bitcoin.

The upcoming company, as of yet unnamed, is anticipated to merge with BTC Inc. and adopt the moniker “Nakamoto” in honor of the mysterious creator of bitcoin, Satoshi Nakamoto, according to the insiders. The announcement of this deal could come as soon as next week.

This move by Bailey follows in the footsteps of other companies, emulating the success of Strategy executive chairman Michael Saylor, who significantly boosted his company’s stock price by 3,000% by transitioning to bitcoin as its primary reserve asset and repositioning it as a bitcoin strategy company.

Recently, major players like SoftBank, Tether, and Cantor Fitzgerald revealed plans for a $3.6 billion bitcoin investment vehicle aimed at purchasing bitcoin. Additionally, Strive Asset Management announced a merger with Asset Entities to transition into a publicly traded bitcoin asset management firm.