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An Ethereum address reportedly controlled by Ethereum co-founder Jeffrey Wilcke has transferred 22,000 ether, worth $41.1 million, to an address on the Kraken exchange.

The transfer occurred roughly two hours ago. Multiple sources labeled the address as belonging to Wilcke, including analytics platforms Nansen and Arkham, The Block Research confirmed.

Wilcke’s address still holds over 150,000 ether, worth nearly $280 million.

As noted by crypto reporter Colin Wu, Wilke’s address hadn’t transferred ether out for 29 months, when 15,000 ether was transferred into Kraken.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Through new forms of digital artistry and cutting-edge technological innovation, today’s leading beauty companies hope to reach Web3-native consumers, create meaningful experiences and perhaps even clean up their supply chain.

Crypto exchange Binance hired Rachel Conlan as its vice president of global marketing, while the company looks to strengthen its shrinking market share.

Conlan previously spent a year at Binance rival OKX as its global head of brand and partnerships. At Binance, she will aim to help the company reach a billion users from its currently over 128 million users and help grow crypto adoption.

“My focus is threefold: to celebrate our existing community, to use that community to invite others in and to deepen how we resonate with new audiences,” Conlan told The Block. “In an incredibly short time, Binance has done an incredible job connecting emotionally with the crypto community, but I’m looking forward to finding ways to play into the emotional connections with non-believers and cynics, which is critical in order for us to bring in the next billion users and ensure the continued success of this industry.”

Conlan will oversee Binance’s global and regional marketing teams and report to Yi He, the company’s co-founder and chief marketing officer.

She will also oversee the management and growth of Binance’s brand collaborations, which include influential figures such as Cristiano Ronaldo and The Weeknd. During her tenure at OKX, Conlan spearheaded the exchange’s partnerships with Manchester City F.C., McLaren Racing, and the Tribeca Film Festival.

Conlan’s appointment comes as Binance’s market share has declined over the past few months amid regulatory woes. Binance and its co-founder and CEO, Changpeng “CZ” Zhao, were sued by the U.S. Commodity Futures Trading Commission in March for allegedly operating an “illegal” exchange with a “sham” compliance program.

As regulatory scrutiny intensifies on Binance, the company last month promoted Richard Teng as head of regional markets except for the U.S.

Teng, who previously held leadership roles at the Monetary Authority of Singapore and Abu Dhabi Global Market, is reportedly seen as a possible heir to Zhao.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Episode 53 of Season 5 of The Scoop was recorded with The Block’s Frank Chaparro and Outlier Ventures Founder and CEO Jamie Burke.

Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher, or wherever you listen to podcasts. Please send feedback and revision requests to podcast@theblock.co.

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Jamie Burke is the Founder and CEO of Outlier Ventures — a Web3 accelerator program for projects that align with Outlier’s vision for an open metaverse. Despite adverse market conditions, Outlier Ventures assisted 89 Web3 startups in 2022.

In this episode, Burke examines the state of the metaverse today and explains how Web3 infrastructure can enhance AI’s development and scale.

Outline of the discussion:

1:59 – Is the Metaverse Dead? ☠️

7:11 – The Metaverse Under Attack 💥

14:36 – Regulation and the Metaverse 🧑‍⚖️

19:22 – Principles of Web3 🌐

24:17 – Web3 Social

26:48 – Identity and Web3 🛂

31:13 – AI and Web3 🤖

39:30 – ‘Composable Creativity’ 🎨

Guest links:

• Jamie Burke on Twitter
• Outlier Ventures Base Camp 

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This episode is brought to you by our sponsors PayPal and CleanSpark.

About CleanSpark

CleanSpark (NASDAQ: CLSK) is America’s Bitcoin Miner™. Visit cleanspark.com/theblock to learn more about the CleanSpark way.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Some large holders of the memecoin Pepe realized losses today while selling large batches of the token.

One Ethereum address, 0x4614, sold 375.8 billion Pepe tokens worth $439,690 roughly two hours ago. According to on-chain analysis account Lookonchain, this sale incurred a loss of 76 ether ($142,000). Before that, another Ethereum address, 0x6544, sold 257.9 billion tokens worth $306,000 for a loss of $35,000.

Additionally — though sending tokens to a centralized exchange doesn’t necessarily signal an intent to sell — another Pepe whale deposited over 649 billion tokens worth over $760,000 to Binance roughly two hours ago.

The price of Pepe is down 8.33% over the past 24 hours, according to CoinMarketCap. Today’s price declines follow a month-long rout, which has seen the memecoin decline in value by nearly 70%.

The Pepe token’s website previously stated that it “is a meme coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap. The coin is completely useless and for entertainment purposes only.”

Memecoins in decline

The price of the popular frog-themed meme token is not the only thing in decline; a decreased interest in memecoin trading on decentralized exchanges has coincided with a reduction in average Ethereum transaction fees.

In May, the hype surrounding memecoins pushed The Block’s DEX to CEX ratio to an all-time high of more than 20% — a metric that has since cooled off and fallen back underneath 15%.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The latest price moves in bitcoin (BTC) and crypto markets in context for June 5, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

The event will double the bitcoin production cost to around $40,000, creating a positive psychological effect, the report said.

The aim of the project is to settle dollar trades in real time around the clock as opposed to over a matter of days and only during the working week.

The bankrupt crypto company is seeking the return of funds sent by Sam Bankman-Fried’s empire before its November collapse.

Taking up an expanded role overseeing regional markets outside the U.S., former regulator Richard Teng wants to demonstrate Binance is “a new organization.”