Here is the outline for the newsletter today🔥

• JP Morgan Activates Euro Payment Settlement With Its JPM Coin👛

• FTX Sues to Reclaim $700M Bankman-Fried Allegedly Spent on Celebrity Connections💰

• Azuki Announces Elementals Collection at Las Vegas Event🎉

JP Morgan Activates Euro Payment Settlement With Its JPM Coin👛

In a significant development, JP Morgan has successfully initiated Euro payment settlements using its own digital token, JPM Coin.

This marks a milestone for the financial giant's blockchain-based payment system, which has been utilized internally for approximately $300 billion worth of settlements over the course of four years.

The first Euro-denominated transaction using JPM Coin was carried out by Siemens AG, a prominent conglomerate based in Germany.

This transaction took place on JP Morgan's permissioned blockchain, which is a distributed ledger accessible only to the bank's institutional clients for settling payments.

The adoption of blockchain technology by traditional financial institutions like JP Morgan is driven by the potential to enhance the speed and security of settlement processes. By conducting transactions on a blockchain, banks and other traditional finance companies aim to expedite settlements while ensuring a high level of security.

Interestingly, institutional traders surveyed by JP Morgan have indicated a shift in their focus from blockchain technology to artificial intelligence (AI) and machine learning. 🤖

More than half of the respondents stated that AI and machine learning would be the most influential technologies shaping the future of trading in the next three years. This is in contrast to blockchain and distributed ledger technology, which were cited less frequently.

JP Morgan has been actively exploring the potential of blockchain technology since the establishment of its Coin Services division in 2019. This division facilitates transfers between client accounts using blockchain technology, enabling transactions to occur 24/7 instead of being limited to business hours.

While the JPM Coin's age has reached four years, the total value of transactions made using the token amounts to around $300 billion.

JP Morgan processes approximately $9.8 trillion in daily payments, indicating the scale and significance of its operations.

Notably, JP Morgan's clients are not the only entities embracing cryptocurrencies for their business needs. German software giant SAP recently announced its utilization of Circle's US Dollar Coin (USDC) to test cross-border payments, aiming to streamline the process for small and mid-sized enterprises.

FTX Sues to Reclaim $700M Bankman-Fried Allegedly Spent on Celebrity Connections💰

According to the lawsuit, Bankman-Fried engaged with Michael Kives, a prominent Hollywood agent turned investor and former aide to Hillary Clinton.

The lawsuit claims that Bankman-Fried met Kives at an exclusive dinner attended by influential individuals, including multiple billionaires and a former Presidential candidate, back in February 2022.

Bankman-Fried was reportedly impressed by Kives' extensive network and spoke highly of his access to the rich and famous.

As a result, Bankman-Fried allegedly authorized the transfer of $700 million to Kives' investment firm, K5, throughout 2022.

Bankman-Fried believed that Kives could provide valuable relationships and connections that would benefit FTX. However, FTX's new management now accuses Kives and his firm of misappropriating these funds.

This lawsuit adds another chapter to the ongoing saga surrounding Bankman-Fried. Last year, FTX faced a highly-publicized collapse, leading to bankruptcy, and Bankman-Fried himself was arrested on multiple charges related to financial crimes.

The allegations include commingling funds from FTX to make risky bets on Alameda Research, a sister exchange he co-founded.

Furthermore, it's worth noting that U.S. politicians, primarily Democrats, have been returning or giving away campaign donations received from Bankman-Fried. Even before FTX's bankruptcy, he faced criticism for donating $46.5 million to political candidates.

Azuki Announces Elementals Collection at Las Vegas Event🎉

We are thrilled to bring you the latest news from the exciting world of NFTs! Azuki, the prominent blue-chip collection that has captivated enthusiasts over the past year, is about to embark on a new and ground-breaking chapter.

At the highly-anticipated "Follow the Rabbit" event held on June 23 at Hakkasan Las Vegas, Azuki co-founder Zagabond made a thrilling announcement: the forthcoming Azuki Elementals collection.

This night of celebration and fanfare hinted at something big on the horizon, and attendees were not left waiting for long. Zagabond, against a captivating red backdrop reminiscent of the Beanz announcement, electrified the crowd with the words, "Check your motherf***ing wallets." The audience erupted in cheers as they eagerly followed suit.

The Azuki Elementals collection, a sister collection to the original cast of 10,000 Azuki NFTs, spans four different "domains" and rarity tiers.

It boasts a total of 20,000 tokens and will be available for sale on June 27. Excitingly, all Azuki and Beanz holders will receive presale access at 9 am PT on the same day.

During the Follow the Rabbit event, Azuki holders were given early access to the impending launch. Each holder received an airdrop of an unrevealed and locked Elemental, which will only become transferable following the June 27 Elementals sale. Additionally, to commemorate the event, Azuki and Beanz holders were airdropped a Soulbound Token (SBT) called an "Elemental Chip."

As this upcoming drop garners significant attention, it's essential to prioritize your security and safeguard your assets.

Azuki, on Twitter, emphasized the importance of robust wallet and account security, cautioning followers to remain vigilant against phishing links and scams disguised as Azuki. Verify information before taking action and keep these tips in mind to stay safe.

Since its launch in January 2022, Azuki has persevered through bear markets and controversy, emerging as one of the most successful PFP projects in the NFT space.

The Elementals mint represents a pivotal point for the Azuki ecosystem, and its impact will reverberate throughout the NFT space. At the time of publication, the project's floor price stands just above 15 ETH ($28,500).

✨Bonus News✨

Disclaimer: This is not any kind of financial advise. This newsletter is solely informational; it does not constitute investment advice, a solicitation to buy or sell any securities, or a recommendation regarding how to manage your money. Be cautious and conduct your own study, please.