Hello, digital dynamos! 🌟 Welcome to this edition of Proof of Intel, your go-to newsletter for the juiciest updates in the Web3 world. I'm Mochi, your quirky guide through the labyrinth of blockchain buzz. Today, we're dishing out a smorgasbord of stories that'll tickle your tech taste buds. From big moves in NFT empires to Japan's crypto-friendly future, we've got you covered. So, grab your virtual seat and let's dive into the digital deep end!

INTEL BRIEF
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🟧 Cathie Wood's ARK Invest sells nearly $90M worth of Coinbase shares following a surge in stock value after positive Q4 results and analyst upgrades.

🟧 Mad Lads' Backpack Exchange on Solana hits an impressive $300M trading volume in just 24 hours, becoming a major player in the crypto exchange arena.

🟧 Yuga Labs, known for Bored Ape Yacht Club, acquires Proof Collective, expanding its NFT empire with Moonbirds, amidst challenges and changing market dynamics.

🟧 Japan is poised to allow venture capital firms to hold crypto assets, potentially opening the floodgates for investment in Web3 startups.

📉💸 Coinbase Conundrum: ARK Invest Cashes Out Big Time!

Cathie Wood's ARK Invest just offloaded a whopping $90 million in Coinbase shares. Yes, you heard that right!

In a move that's got Wall Street buzzing, ARK said "sayonara" to a hefty 499,149 shares of Coinbase, split across three of its funds: ARK Innovation ETF, ARK Next Generation Internet ETF, and ARK Fintech Innovation ETF. The timing? Impeccable! This sell-off came hot on the heels of Coinbase smashing their Q4 earnings, which catapulted the stock nearly 27% to a dazzling $180.31.

Despite the upgrades from analysts like KBW and the price target boost from the likes of Wedbush and Canaccord Genuity, ARK decided it was time to pocket the gains. But not everyone's wearing rose-colored glasses. JPMorgan and Mizuho weren't exactly throwing confetti, pointing out Coinbase's vague comments on how Bitcoin ETFs boosted their biz.

Oh, and did I mention? ARK didn't just stop at Coinbase. They also waved goodbye to $6.72 million in Robinhood shares. Talk about a Friday shopping spree in reverse! So, what's cooking in Cathie Wood's strategy? Let's find out in our next issues, but one thing's for sure – it's always intriguing!sure: the Web3 world never has a dull moment!

📈💼 Backpack Boom: Solana's New Star Hits $300M Trading Volume!

The Backpack Exchange, birthed by the brains behind Solana's Mad Lads NFT collection, has rocketed to a mind-blowing $300 million trading volume in under a day. Talk about making a grand entrance!

This Solana sensation is not just riding on its speed and scalability. According to Anndy Lian, the blockchain whiz and author of "NFT: From Zero to Hero," it's the Mad Lads xNFT collection and Solana's DeFi potential that's got everyone talking.

Backpack didn't just tiptoe into the market; it made a splash with 6,000 unique deposit transactions in its first 24 hours. And get this – it's not just fast, it's lightning-fast, boasting one-millisecond order placement and even quicker cancellations. Take that, slowpokes!

But wait, there's more! Backpack's SOL/USDC spot trading pair zoomed past Binance’s trading pair with a whopping $643 million in 24-hour trading volume. And let's not forget the cherry on top: Backpack snagged a virtual asset service provider license from Dubai's VARA and bagged a bunch more across the globe.

As if this wasn't enough to make your head spin, Mad Lads NFTs skyrocketed as the third-largest collection by daily trading volume, and Solana soared to become the second-largest blockchain for daily NFT sales. Ethereum, you've got company!

🌕🦉 Yuga Labs' NFT Odyssey: Moonbirds Join the Bored Ape Empire!

Yuga Labs' latest escapade: gobbling up Proof Collective, the proud parent of the Moonbirds NFT collection. It's like Disney meets Marvel, but for digital collectibles! 🎬🌌

Yuga Labs, the mastermind behind Bored Ape Yacht Club, is no stranger to making waves. This time, they've set their sights on Moonbirds, a collection of pixel-art owls that once fetched a pretty penny – or rather, hundreds of thousands of them. The deal? Closed in a snap of three months after a casual lunch in Texas. Talk about fast food negotiations!

The plan is to integrate Moonbirds into Yuga's gaming universe, Otherside. And if you know Yuga, you'll know they're all about handing over those juicy IP rights to NFT holders. But let's not forget the rest of Proof, including the Grails series. They're keeping their independence, thank you very much!

Now, this might seem like just another trophy for Yuga's mantlepiece, but the crypto winter has left the industry a tad frostbitten. NFT trading volumes have taken a nosedive, and even the flashiest collections have seen their floor prices plummet. Remember when the cheapest Moonbird cost a cool $115,000? Now, you can snag one for a mere $3,000. Oh, how the mighty have fallen!

But Yuga's not just playing with digital art; they're dreaming big – Disney big. They're building an NFT utopia with their metaverse, Otherside, where pixelated punks and apes mingle. Yet, it's not all smooth sailing. With OpenSea slashing royalties and Yuga's revenue taking a hit, they've had to chart a new course, cutting staff and focusing on Otherside.

Is Yuga's expansion a sign of strength or a desperate bid to stay afloat? It's a debate as old as crypto itself. But one thing's for sure: in the wild world of Web3, it's adapt or get left in the digital dust.

🇯🇵💰 Japan's Crypto Pivot: A New Dawn for Venture Capitals and Web3 Startups!

Japan is gearing up to give venture capital firms the green light to hold crypto assets. Yep, you heard it right – it's like opening a digital treasure chest for Web3 startups!

The Japanese government, always a step ahead in the tech tango, has nodded approval to a bill allowing these savvy investors to add crypto assets to their portfolios. If the parliament gives it a thumbs up, we're talking about a game-changer for the Web3 world.

Japan's not new to the crypto stage. They've been leading the stablecoin regulatory dance and have shown a keen interest in nurturing Web3, all while keeping a watchful eye on user protection. Remember last September's buzz about easing up rules for VC firms investing in crypto startups? Well, now we're seeing that chatter turn into action!

The bill aims to jazz up the Industrial Competitiveness Enhancement Act, with an eye on spurring new business creation and invigorating investment in Japan's economic powerhouses – the startups and mid-sized companies. In short, it's about giving these ventures a leg-up in the competitive global market.

What does this mean for the world of Web3? Simply put, it's a potential investment bonanza. Venture capitals could soon be swapping their traditional assets for shiny crypto ones, betting big on the next big thing in the blockchain universe. Japan's move could very well set the stage for a domino effect worldwide, where more countries might follow suit in embracing crypto assets in the venture capital space.

So, will Japan's parliamentary powers give the green light? Will this lead to a Web3 renaissance? Only time will tell, but one thing's for sure – the crypto world is watching with bated breath!

And that's a wrap, folks! 🎬 Thank you for joining us on this exhilarating journey through the twists and turns of the Web3 universe. I hope you enjoyed our quirky take on the latest and greatest in tech. Remember, in the ever-evolving world of blockchain and crypto, there's always something new around the corner. Stay tuned for more updates, and until next time, this is Mochi from Proof of Intel, signing off. Keep your pixels pulsing and your blockchain brains buzzing! 🚀💡

P.S. Don't forget to share Proof of Intel with your friends. See you in the next issue! 💌🎈

🍨📰 Catch you in the next issue! 📰🍨

TL;DR: 🔻💯
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🟧 ARK Invest led by Cathie Wood sold a staggering 499,149 Coinbase shares, post Q4 earnings triumph and a flurry of analyst upgrades. While Coinbase's stock soared, some analysts remained skeptical, and ARK also offloaded Robinhood shares. In the high-stakes game of Web3, ARK's moves are a plot twist worth watching!

🟧 The Backpack Exchange on Solana exploded onto the scene with a staggering $300 million trading volume in just 24 hours, outpacing giants like Binance. With its speedy transactions and robust ecosystem, Backpack and Mad Lads NFTs are making waves, turning Solana into a formidable force in the crypto world.

🟧 Yuga Labs, the powerhouse behind Bored Ape Yacht Club, has just acquired Proof Collective and its Moonbirds NFTs, adding another feather to its cap in the NFT domain. Amidst a market downturn and strategic shifts, this move signals Yuga's relentless ambition to reign supreme in the NFT universe, despite facing challenges and skepticism.

🟧 Japan is on the brink of a major crypto revolution, with a new bill that could let venture capital firms hold crypto assets. This move promises to turbocharge investments in Web3 startups, potentially marking a significant shift in the global landscape of crypto and blockchain innovation.