ApeCo Gaining Momentum As ApeCoin DAO Dissolution Governance Voting Progresses

By

-

July 1, 2025

The ApeCoin DAO dissolution proposal, initiated by Yuga Labs CEO Greg Solano, passed with 99.66% community support, marking a significant shift in the ApeCoin ecosystem. The proposal, AIP-596 titled “Sunsetting the DAO and Launching ApeCo,” transfers the DAO’s assets, including over a billion APE tokens, to ApeCo, a new Yuga Labs-controlled entity. ApeCo will focus on ApeChain, Bored Ape Yacht Club, and the Otherside metaverse, aiming for streamlined operations and high-impact projects.

Yuga Labs’ Otherside metaverse recently released update videos showcasing new AI-driven user creation tools, enhancing user-generated content capabilities. These tools align with Otherside’s vision as an AI-supercharged, Unreal Engine-powered Roblox-like platform, as hinted in posts on X. The updates emphasize creative freedom for users, potentially boosting engagement in the metaverse where ApeCoin serves as the primary currency.

No specific details on the AI tools’ functionalities were provided in the sources, but the focus is on empowering builders within the ecosystem. This dual development signals Yuga Labs’ pivot toward efficiency and innovation, though the shift to a centralized ApeCo raises questions about community governance versus operational pragmatism in the Web3 space.

The dissolution of the ApeCoin DAO, a community-governed entity, and the transfer of over a billion APE tokens to ApeCo, a Yuga Labs-controlled entity, marks a pivot away from decentralized governance. ApeCo’s streamlined structure under Yuga’s leadership prioritizes efficiency and high-impact projects like ApeChain, Bored Ape Yacht Club (BAYC), and the Otherside metaverse. This could accelerate development and decision-making but risks alienating Web3 purists who value decentralization.

The 7% price drop of APE to $0.66 post-announcement suggests market uncertainty about centralized control. Investors may worry about reduced community influence, though some see ApeCo as a bullish move for focused execution. ApeCo’s mandate to prioritize ApeChain and Otherside signals a strategic consolidation around Yuga’s core assets. The introduction of AI user creation tools for Otherside enhances its appeal as a user-driven metaverse, potentially increasing adoption and utility for APE as its currency.

These tools, leveraging AI and Unreal Engine, position Otherside as a competitive player in the metaverse space, akin to a Web3 Roblox with BAYC integration. Increased user-generated content could drive engagement, attracting creators and players to Otherside, which may bolster APE’s long-term value if adoption grows. However, success hinges on the tools’ accessibility and functionality, details of which remain sparse.

The 99.66% vote in favor reflects strong community support for Yuga’s vision, likely driven by frustration with the DAO’s inefficiencies (e.g., high operational costs and slow decision-making). However, centralizing control under ApeCo could reduce community input, potentially stifling the participatory ethos of Web3. This trade-off between efficiency and decentralization is a critical tension.

If ApeCo fails to deliver on promised high-impact projects or lacks transparency, it could erode trust among token holders and BAYC collectors, who have significant stakes in the ecosystem. Yuga’s move reflects a broader trend in Web3 where projects balance decentralization ideals with practical needs for speed and scalability. The ApeCoin DAO’s dissolution could inspire other projects to reassess governance models, especially if ApeCo succeeds in driving value for APE and Otherside. Conversely, it may fuel criticism from decentralization advocates, impacting Yuga’s reputation in the crypto community.

Many community members, including influential voices like @Rahim_mahtab and @BoredApeGazette, view the DAO’s dissolution and ApeCo’s formation as a positive reset. They argue the DAO was inefficient, with high costs (e.g., millions spent on operations) and bloated processes that hindered progress. ApeCo’s centralized approach is seen as a way to streamline efforts, focus on high-value projects like Otherside, and restore confidence in Yuga Labs’ leadership.

The Otherside AI tools are broadly celebrated as a step toward making the metaverse more interactive and creator-friendly. Enthusiasts see this as a way to differentiate Otherside from competitors, potentially driving APE adoption and BAYC’s cultural relevance. This group prioritizes results over ideology, believing Yuga’s track record with BAYC justifies trust in a more controlled structure. They view the 99.66% vote as a mandate for change.

A smaller but vocal group, exemplified by users like Lanzer on X, expresses concern about centralization. They argue that dissolving the DAO undermines the Web3 principle of community ownership, handing control to Yuga Labs and potentially marginalizing smaller token holders. Questions about ApeCo’s transparency and accountability persist, with fears that Yuga could prioritize profits over community interests.

While the AI tools are less controversial, some skeptics question whether they’ll deliver meaningful value or remain superficial features. Without detailed specs, critics worry about hype outpacing execution, a recurring critique of Yuga’s ambitious promises. This group values decentralized governance as a core tenet of Web3 and sees ApeCo as a step backward, potentially alienating the community that fueled ApeCoin’s early success.

The divide reflects a fundamental tension in Web3: idealism versus pragmatism. Yuga Labs’ decision to prioritize efficiency through ApeCo and innovate with AI tools in Otherside suggests a bet on execution over ideological purity. If ApeCo delivers on its promises—robust ApeChain development, a thriving Otherside metaverse, and increased APE utility—the community may rally behind the new structure, and the price dip could reverse.

However, failure to communicate transparently or deliver tangible results could deepen skepticism, especially among decentralization purists. The AI tools’ success will depend on their ease of use and ability to attract creators, which could solidify Otherside’s position in the competitive metaverse landscape. Meanwhile, the broader Web3 space will watch closely, as Yuga’s experimentRezultado de la búsqueda.

Meta’s Talent Strategy In AI Era, And Lessons from Dangote’s Accumulation of Capabilities [Podcast]

By

Ndubuisi Ekekwe

-

July 1, 2025

0

I examine Meta’s strategic partnership with Scale AI to enhance both infrastructure and expertise in AI. By investing in Scale AI—renowned for its data annotation services—Meta secured critical data capabilities and opened doors to elite engineering talent. Simultaneously, Meta aggressively recruited top researchers and engineers from Scale AI and other companies, enticing them with competitive offers and compelling opportunities to work on high-impact AI initiatives.

This dual strategy—capital investment combined with talent acquisition—enables Meta to integrate Scale AI’s strengths, accelerate AI-driven innovation, and strengthen its position in the competitive AI landscape.

In this podcast, I connect the Meta’s talent acquisition playbook to the broad Accumulation of Capabilities construct, and use the Dangote Group to explain how acquiring and deepening capabilities can build competitive advantages in firms, and anchor long-term value creation.

Podcast slide is here. For the video, see How To Listen to Tekedia Daily below.

About Tekedia Daily

To read our short introduction of Tekedia Daily – podcasting revelations on business, click here.

How To Listen to Tekedia Daily

At Blucera, home of Blucera WinGPT (AI personal educator and coach), eVault Legal Custodial services (store vital personal, family and business documents securely), business tools to grow enterprises, and global archives of Tekedia courses and libraries, Ndubuisi Ekekwe podcasts every week day. Some Tekedia Institute programs offer bonus access to Tekedia Daily or one can register at Blucera for the podcast.

Postcast Catalogue: Tekedia Daily
Podcast Video: Sign-up at Blucera and check Tekedia Daily category under Training Module

The ‘New Deal’ for Stablecoin : Bitcoin trajectory and the future of Crypto replacing Gold as a backer of Sovereign Currency.

By

John Mc Keown

-

July 1, 2025

0

In the digital age of cryptocurrency, the Casascius Coin stands out as a rare and tangible relic. Introduced in 2011 by Utah-based software engineer Mike Caldwell, these physical Bitcoins bridged the gap between the virtual and physical worlds—embedding real Bitcoin value into a handheld, brass coin.

Here we see the journey of indecision between 2012, when John Galt bought a 100BTC Casasius Coin for $500 USD and May 2025, when he sold it for $10 Million.

There is still some subtle anxiety in his decision to sell it when he did.

9ja Cosmos don’t take a position on Bitcoin, neither as a BTC maxi, nor as a sceptic. A lot has to do with global perception of exactly what liquidity is.

At the moment FIAT is still king from a liquidity perspective.

You go into many online sites with some focus on crypto and Web3, and you will see Coinmarketcap, Coingeko, Trading View, Coinbase, and Yahoo Finance telling you the value of Bitcoin in US Dollars.

You pick up a quick entry level job anywhere, from the Diner in Chicago to the Pub in Ireland to the open-air market in Lagos, Nigeria, they pay you in local currency, there are no crypto options.

FIAT currently is still dominating markets globally.

But things are changing. The product segment that includes debit/credit cards like Chainlink, MetaMask, Holyheld, Sora, Crypto.com, Nexo, and Gnosis are becoming more numerous and the product segment is expanding.

They allow people to hold crypto on account but allow them to pay for everyday services with either MasterCard or Visa as partners, handling the PoS (Point of Sale) payment journey. They look like any regular Debit or Credit Card.

These draw in all sorts of people that don’t actually need to have niche knowledge about Blockchain or Web 3, but they may struggle in economies like Nigeria where trade among the masses is often done with cash changing hands, rather than card payments.

Perhaps one day we will reach the point where Bank of America, Goldman Sachs, Wells Fargo, Royal Bank of Canada, HSBC, Mitsubishi UFJ Financial Group, CitiGroup, or indeed First Bank or Guaranty Trust Bank need to clarify exactly what a Dollar or a Naira means, by illustrating its value in Bitcoin?

While Nigeria contemplates an archaic and obsolete monetary future with an UNstablecoin backed by Naira, the US is already securing the future of the $USD by creating a STABLEcoin that backs it with Bitcoin.

This is the endeavour of New Bretton Woods (NBW) Labs, formed by several Harvard students and alumni, leveraging membership of the Harvard Innovation Labs.

Yes, it is Bitcoin that becomes guarantor for the US Dollar, not the other way around!

Did John Galt pick an opportune time to sell? Or is he due for a disappointment of monumental proportions?

A liquidity tipping point away from FIAT may be on the Horizon.

New Bretton Woods is here, while old Bretton Woods, and the Gold Standard are long dead.

John Galt’s legacy as a visionary or strategic blunderer remains uncertain.

Only time will tell.

Credit : Veronica Bridgewater, 9ja Cosmos Ambassador focusing on LinkedIn presence.

9ja Cosmos is here…

.9jacom Domains

.det0x Domains

Detoxant 3 Tokenized Artworks

Detoxants – FiendYard Fruit & Veg

Opaque Emotion Pathways Tokenized Artworks

Preview our Sino Amazon/Sinosignia releases (Ente)

Visit 9ja Cosmos LinkedIn Page

Visit 9ja Cosmos Website

Follow 9ja Cosmos on X

Circle Applies For National Trust Bank License

By

Paul Ugbede Godwin

-

July 1, 2025

0

Stablecoin issuer Circle Internet Financial has applied for a national trust bank license with the U.S. Office of the Comptroller of the Currency (OCC) to establish the First National Digital Currency Bank, N.A. If approved, this would allow Circle to manage its USDC stablecoin reserves directly and provide digital asset custody services for institutional clients, though it would not permit cash deposits or lending. The move follows Circle’s June 2025 IPO, which valued the company at nearly $18 billion, with its stock now trading at $181, reflecting a market cap of approximately $44 billion.

CEO Jeremy Allaire emphasized that the application aligns with Circle’s focus on transparency, compliance, and supporting emerging U.S. stablecoin regulations, such as the proposed GENIUS Act, which passed the Senate and awaits a House vote. Other crypto firms, including Fidelity’s digital currency division, are also reportedly pursuing national bank charter licenses from the OCC, following the precedent set by Anchorage Digital, which became the first crypto firm to receive such a license in January 2021.

National trust banks operate under federal oversight, enabling custodial services and nationwide operations without needing individual state licenses, but they cannot accept cash deposits or issue loans. This trend reflects the crypto industry’s push for regulatory compliance and institutional adoption, potentially increasing liquidity and confidence in digital assets like USDC.

A national trust bank license from the OCC would place Circle and other crypto firms like Fidelity under federal oversight, enhancing their credibility in traditional financial markets. This could attract more institutional investors to stablecoins like USDC, increasing liquidity and mainstream adoption. The license aligns with emerging U.S. stablecoin regulations, such as the GENIUS Act, which aims to create a federal framework for stablecoin issuers. Compliance with such regulations could position these firms as leaders in a regulated digital asset space.

Unlike state-by-state licensing (e.g., New York’s BitLicense), a national charter allows operations across the U.S. without multiple regulatory hurdles, streamlining expansion and reducing costs. As national trust banks, these firms can offer custodial services for digital assets, manage stablecoin reserves, and potentially expand into tokenized securities or other blockchain-based financial products. However, they cannot accept cash deposits or issue loans, limiting their role compared to traditional banks.

For Circle, direct management of USDC reserves could reduce reliance on third-party custodians, improving transparency and operational control, especially after high-profile banking failures like Silicon Valley Bank in 2023, which affected Circle’s reserves. Circle’s $44 billion market cap and USDC’s position as the second-largest stablecoin (behind Tether’s USDT) suggest significant market influence. A national trust bank charter could bolster confidence in USDC, potentially narrowing the gap with USDT.

Fidelity’s entry could further bridge traditional finance and crypto, given its established reputation in asset management. This may encourage competitors like BlackRock or JPMorgan to deepen their crypto involvement. The X platform shows enthusiasm for these developments, with users suggesting that federal charters could drive broader crypto adoption by institutions. However, this is speculative and reflects sentiment rather than evidence.

Approval could spur innovation in blockchain-based financial services, such as tokenized bonds or real-world asset tokenization, as these firms leverage federal charters to offer new products. It may also intensify competition among crypto custodians, with firms like Anchorage Digital (already OCC-chartered) facing pressure to innovate or differentiate.

The pursuit of national trust bank licenses highlights a growing divide in the crypto industry between entities embracing regulation and those prioritizing decentralization. The regulated approach may alienate crypto purists who see federal oversight as a step toward centralization, potentially stifling innovation or enabling government surveillance of blockchain transactions.

Conversely, regulated firms argue that compliance is necessary for scalability and mass adoption, particularly for stablecoins used in cross-border payments or institutional trading. X posts reflect this tension, with some users praising Circle’s move as a “game-changer” for institutional crypto, while others criticize it as “selling out” to traditional finance. Regulatory alignment could reduce the risk of enforcement actions (e.g., SEC lawsuits against Coinbase or Ripple), stabilizing the industry.

However, it may marginalize smaller, decentralized projects unable to afford compliance costs, concentrating market power among a few large players. The GENIUS Act’s progress suggests bipartisan support for stablecoin regulation, but political divides (e.g., progressive concerns over financial surveillance vs. conservative pushes for innovation) could delay or alter legislative outcomes, impacting firms like Circle.

The U.S. lags behind jurisdictions like the EU (with MiCA regulation) or Singapore in providing clear crypto frameworks. A national trust bank charter could help the U.S. compete globally, but decentralized projects may thrive in less-regulated jurisdictions, creating a geographic divide in crypto innovation.

Circle and Fidelity’s pursuit of national trust bank licenses signals a maturing crypto industry seeking integration with traditional finance, with implications for increased legitimacy, institutional adoption, and innovation. However, it deepens the divide between regulated entities and decentralized advocates, reflecting philosophical and practical tensions. The outcome of these applications and related legislation like the GENIUS Act will shape whether the U.S. crypto market leans toward centralized oversight or preserves space for decentralized innovation.

Canary PENGU and Invesco Solana ETF Filings Underscore Crypto’s Growing Integration

By

Paul Ugbede Godwin

-

July 1, 2025

0

Cboe BZX Exchange filed a 19b-4 form with the SEC on June 25, 2025, to list the Canary PENGU ETF, which will invest 80-95% in PENGU tokens (a Solana-based meme coin) and 5-15% in Pudgy Penguin NFTs, with minimal SOL and ETH holdings for transaction purposes. This marks a significant step for institutional exposure to meme coins and NFTs.

Meanwhile, Invesco, in partnership with Galaxy Digital, filed an S-1 registration statement with the SEC on the same date for the Invesco Galaxy Solana ETF (ticker: QSOL), aiming to track Solana’s spot price. This is the ninth Solana ETF filing, joining others from firms like VanEck, Bitwise, and Fidelity. The fund will use Coinbase for custody and Galaxy Digital for SOL acquisition, with provisions for staking.

Both filings reflect growing institutional interest in altcoins and innovative crypto assets, with analysts estimating a 95% chance of Solana ETF approval by late 2025. The filings for the Canary PENGU ETF and Invesco Galaxy Solana ETF signal a growing institutional embrace of crypto assets, but they highlight a divide in the crypto market’s evolution and investor landscape.

The Canary PENGU ETF, focusing on a Solana-based meme coin (PENGU) and Pudgy Penguin NFTs, shows institutions are willing to venture beyond Bitcoin and Ethereum into speculative, community-driven assets. This could legitimize meme coins and NFTs as investable assets, attracting capital from traditional investors. The Invesco Galaxy Solana ETF, the ninth Solana ETF filing, reflects confidence in Solana’s ecosystem as a scalable blockchain rivaling Ethereum. Approval could drive significant capital inflows, given Solana’s $75 billion market cap and its use in DeFi and NFT projects.

These ETFs broaden crypto’s accessibility through regulated vehicles, appealing to retail and institutional investors who prefer traditional brokerage accounts over crypto exchanges. This could increase liquidity and stabilize prices for SOL and PENGU. The inclusion of staking in the Solana ETF filing suggests a push to maximize returns, potentially setting a precedent for future crypto ETFs to incorporate yield-generating strategies.

The SEC’s response to these filings will be pivotal. The Canary PENGU ETF’s focus on meme coins and NFTs may face scrutiny due to their volatility and perceived lack of “fundamental value.” However, approval could signal a more permissive regulatory stance on exotic crypto assets. Solana ETF filings, backed by major players like Invesco and Galaxy, have a high approval probability (analysts estimate 95% by late 2025). This could pressure the SEC to clarify rules around altcoin ETFs, especially after approving Bitcoin and Ethereum spot ETFs.

The PENGU ETF could fuel speculative fervor in meme coins and NFTs, potentially inflating their prices short-term but risking bubbles due to their sentiment-driven nature. Solana’s ETF filings may boost its price (currently ~$160) and ecosystem projects, reinforcing its position as a top-tier blockchain.

Solana ETFs represent a mainstreaming of established altcoins with robust ecosystems, appealing to institutional investors seeking exposure to scalable blockchains with real-world use cases (e.g., DeFi, NFTs). Canary PENGU ETF caters to a niche, speculative market, targeting retail investors and crypto enthusiasts drawn to meme coins and NFTs. This divide highlights a split between “serious” institutional capital and the playful, community-driven crypto subculture.

Solana, with its $75 billion market cap and established DeFi/NFT ecosystem, is seen as a lower-risk bet compared to PENGU, a meme coin, and Pudgy Penguin NFTs, which are highly volatile and sentiment-driven. The ETFs reflect a divide between stable, long-term investment strategies and high-risk, high-reward speculation. Solana ETFs are more likely to gain SEC approval due to their alignment with established crypto assets like Bitcoin and Ethereum. The PENGU ETF, however, faces a tougher path due to meme coins’ and NFTs’ speculative nature, highlighting a regulatory divide between “legitimate” and “fringe” crypto assets.

Solana ETFs target institutional and conservative retail investors seeking diversified crypto exposure. The PENGU ETF appeals to younger, risk-tolerant retail investors active in crypto communities on platforms like X. This creates a divide between traditional finance (TradFi) and decentralized finance (DeFi) mindsets. The Canary PENGU and Invesco Solana ETF filings underscore crypto’s growing integration into traditional finance but also highlight a divide between mainstream, institution-friendly assets (Solana) and speculative, community-driven ones (PENGU/NFTs).

Approval of either could accelerate crypto adoption, but their success will depend on regulatory outcomes, market sentiment, and investor appetite for risk. The Solana ETF has a clearer path to approval, potentially boosting SOL’s price and ecosystem, while the PENGU ETF’s fate will test the market’s tolerance for meme-driven investments.

ApeCo Gaining Momentum As ApeCoin DAO Dissolution Governance Voting Progresses

Like this: