News from the blockchain world #60 | Web3 opportunities & more ??
Hello everyone! ?? This week’s newsletter includes exciting updates, cutting-edge insights, and the hottest trends from the Web3 and blockchain world. Whether you’re here for the latest breakthroughs or to discover what’s next, we’ve got all the inside scoop you need. Dive in, and let’s keep building the future together! ???
From this edition, you'll learn, a.o:
? What branch of BBVA bank has introduced USDC stablecoin for its institutional clients
? Who is the former CEO and founder banned from operating and managing their own crypto exchange?
? How much profit did a crypto trader make from investing just $5,000 in a new native token?
? Why did a hacker use deepfake technology during Apple’s "Glowtime" event?
? Which new digital asset will give Bitcoin holders a fresh way to earn yield?
For the newest crypto opportunities, visit our page and explore curated airdrops, testnets, and NFTs.
Happy reading, and see you next week!
?? Paxos integrates with Arbitrum for institutional on-chain assets adoption.
Paxos has integrated with Arbitrum, Ethereum’s Layer 2 scaling solution, to advance the tokenization of real-world assets. This partnership aims to leverage Arbitrum’s low-cost, high-speed infrastructure to enhance the efficiency of digital assets for institutions. The move is part of Paxos' broader strategy to expand stablecoin use following recent regulatory clearances and to drive innovation in the digital finance sector.
?? Nansen acquisition enables staking services to over 20 blockchains.
Blockchain analytics firm Nansen has acquired StakeWithUs, a staking service provider based in Singapore, in order to offer a more comprehensive platform to investors. The integration will enable users to stake their tokens seamlessly across 20+ blockchains. Nansen also plans to expand its list of non-custodial staking options based on user demand and market trends, while maintaining industry-best uptime and security standards.
?? Standard Chartered Launches Bitcoin and Ethereum Custody in UAE.
Standard Chartered has introduced a digital asset custody service in the UAE, licensed by the Dubai Financial Services Authority (DFSA). Initially focusing on Bitcoin and Ethereum, the service provides secure storage for digital assets and marks a significant step in the bank’s digital asset strategy. Brevan Howard Digital is the first client. Standard Chartered plans to expand its offerings to include more digital assets and extend its services to additional financial hubs.
?? Ramp Network Expands Crypto Services to All 50 US States.
Ramp Network has expanded its cryptocurrency purchasing services to include all 50 U.S. states, including the District of Columbia. Previously available in 33 states, this growth now allows over 100 million users nationwide to buy and sell major cryptocurrencies such as BTC, ETH, and USDT. The expansion includes states with stricter regulations like New York and Hawaii.
?? Telefónica partners Privado ID to drive digital identities adoption across EU.
Telefónica Tech has partnered with Privado ID (formerly Polygon ID) to advance privacy-focused digital identities in the European Union. This collaboration aims to support the adoption of compliant digital identity solutions in line with the upcoming eIDAS2 regulation, which mandates EU countries to implement a standardized Digital ID Wallet. Privado ID will utilize Telefónica Tech’s TrustOS blockchain service to enhance its verifiable credential offerings. The partnership targets various applications, including digital national IDs, e-signatures, and privacy-preserving loyalty programs.
?? Ethereum Name Service integrated with PayPal, Venmo for crypto transfers.
Ethereum Name Service (ENS) has integrated with PayPal and Venmo, allowing users to transfer cryptocurrency using simple ENS names instead of lengthy wallet addresses. This integration, announced on September 10, aims to simplify transactions and reduce errors for over 270 million users in the U.S. By replacing complex addresses with readable names like “yourname.eth,” ENS enhances user experience and accessibility in crypto transfers.
?? FTX finalizes settlement with Emergent over $600M Robinhood shares claim.
FTX has reached a settlement with Emergent Technologies over $600 million worth of Robinhood shares, agreeing to pay $14 million for administrative expenses. The agreement will help Emergent quickly resolve its bankruptcy case in Antigua, recover more money for creditors, and avoid further litigation costs. The settlement marks a crucial step in FTX's reorganization plan to maximize value for creditors.
?? Swiss branch of BBVA bank brings USDC for institutional clients.
BBVA's Swiss branch now offers Circle’s USDC stablecoin to institutional and private banking clients, allowing them to manage USDC alongside traditional investments. This service enables faster transactions, letting clients exchange, custody, and convert USDC into euros, U.S. dollars, and other currencies. The move, aimed at improving efficiency for fund managers and institutional clients, follows BBVA's adoption of Ripple-owned Metaco’s Harmonize blockchain platform, enabling streamlined transactions across multiple networks. The service complements BBVA's existing cryptocurrency offerings available through its subsidiary in Türkiye, Garanti BBVA Digital Assets.
?? Japan's Largest Banks to Implement SWIFT-Linked Stablecoin System for Cross-Border Payments.
Japan's largest banks—MUFG, SMBC, and Mizuho—are developing a blockchain-based system, Project Pax, to replace correspondent banks in cross-border payments with stablecoins. The system will utilize SWIFT for messaging while enabling 24/7 transactions behind the scenes using stablecoins, making the process faster and more efficient for users. Based on MUFG's Progmat tokenization network, this initiative is set to launch a prototype soon, with plans for a full release by 2025. This move follows Japan's 2022 approval of stablecoin legislation, further expanding stablecoin use in the country.
?? Ripple CTO Confirms RLUSD Stablecoin Will Be Institution-Only Upon Launch.
Ripple's upcoming RLUSD stablecoin is set to be exclusively available to institutional investors, as confirmed by Ripple CTO David Schwartz. The stablecoin, aimed at bridging traditional finance and decentralized finance, will be backed by USD and US government bonds, ensuring transparency and security. This move comes amidst the dominance of USDT and USDC in the stablecoin market, with a combined market cap of over $150 billion.
?? Tether addresses $102 million agricultural investment: land is "crucial asset class".
Tether, the issuer of the largest stablecoin USDT, quietly invested $102 million to acquire 9.8% of Adecoagro, a South American agricultural giant listed on Nasdaq. The investment, which complements Tether's previous ventures in gold and Bitcoin, stems from their belief in land as a key, scarce asset providing long-term yield. Adecoagro is Argentina’s top producer of milk and rice, and operates in Brazil and Uruguay as well. Tether's strategy focuses on diversifying its investments while promoting sustainable development and creating value for humanity.
?? Polymarket's open interest soars past $100 million as crypto enthusiasts bet big on presidential election
Polymarket, a crypto-powered prediction market, is rapidly expanding its dominance, with open interest surpassing $100 million. This surge, a 1,429% increase from $7 million at the start of the year, reflects a growing interest in cryptocurrency-based political forecasting, especially with the upcoming U.S. presidential election. The election is the major focus, accounting for 77% of Polymarket's weekly trading volume.
?? Telegram CEO Pavel Durov says he's prepared to 'leave markets that aren’t compatible' after France arrest
Telegram CEO Pavel Durov used his messaging app to challenge the reasons for his recent arrest and stated his willingness to exit markets that conflict with Telegram's values. He highlighted previous exits from Russia and Iran as examples, emphasizing that the company prioritizes defending fundamental rights over financial gains. Durov asserted that Telegram is committed to upholding privacy and security principles, even if it means leaving markets where these principles are compromised.
?? Alan Howard's son secures $25m for crypto venture fund
Daniel Howard and Bhavin Vaid have launched Halo Capital, a $25 million venture fund focused on early-stage crypto projects across the digital asset ecosystem.
?? Nearly 90% of crypto registrations in UK failed due to ‘weak’ fraud, AML controls
Nearly 90% of crypto firms applying for registration in the UK were rejected due to weak money laundering controls, according to the FCA's annual report. Only 4 out of 35 applications were approved, leading many firms to consider looking abroad for a more efficient registration process. International law firm Reed Smith warned of long wait times and urged firms to explore other options outside the UK.
?? Binance CEO says CZ is banned from managing or operating the exchange
Changpeng “CZ” Zhao, former Binance CEO, is expected to be permanently barred from operating or managing the crypto exchange as part of his plea deal with prosecutors. Despite initial reports of a three-year ban, Binance CEO Richard Teng clarified that CZ received a lifetime ban. As part of the settlement, CZ resigned as CEO and is expected to be released from prison on September 29, 2024, after pleading guilty to violating the Bank Secrecy Act and agreeing to pay a $50 million fine. The future of Binance's case with the US Securities and Exchange Commission remains uncertain.
?? Sberbank to Join Russia's Crypto Settlement Pilot This Fall, Executive Reveals
Sberbank, Russia’s largest financial institution, plans to join a cryptocurrency settlement pilot program this fall. The bank also aims to serve clients using digital rubles by 2025. Deputy Chairman Anatoly Popov supports regulatory efforts to legitimize cryptocurrencies for international payments and mining. He highlighted cryptocurrencies as effective payment methods, especially for small businesses, amid global economic demand.
?? TON Blockchain Surpasses 1 Billion Transactions as Native Token Toncoin Struggles
ON's growth has been strongly driven by its integration with Telegram, despite recent challenges. The blockchain has processed over 1 billion transactions, with half occurring in the last three months alone. While the network recently experienced two outages following a memecoin airdrop, its overall transaction volume remains impressive, highlighting increased user engagement.
?? Telegram Tap-to-Earn Game DOGS Hits 53 Million Users, Launches GhostDrive.
The Telegram-based tap-to-earn game DOGS has achieved 53 million users shortly after launch. The DOGS token has rapidly gained popularity, with 40 billion tokens airdropped to 17 million users. In addition, DOGS has introduced GhostDrive, a Web3 storage platform with 740,000 monthly users, offering secure data storage and monetization options. This marks a significant expansion for DOGS beyond gaming into the Web3 space.
?? Ether.fi launching ‘crypto-native’ credit card on ZK-rollup Scroll.
Ether.fi is launching a “crypto-native” credit card called Ether.fi Cash, which will operate on the Ethereum layer-2 network Scroll. The Visa card allows users to pay anywhere Visa is accepted by borrowing against crypto collateral, such as eETH and yield-bearing assets. The card is non-custodial, meaning users' crypto remains in their wallets. Ether.fi Cash features tiers like Pepe, Wojak, Chad, and Whale, and offers the ability to pay balances with native yields.
?? Onramper launches crypto off-ramp service with MoonPay, Alchemy Pay and others.
Fiat-to-crypto payments aggregator Onramper has introduced its new crypto-to-fiat service, “Offramper,” in collaboration with partners like MoonPay and Alchemy Pay. The service will support 46 fiat currencies and over 500 cryptocurrencies across 200 countries, offering 39 payout methods including credit cards and PayPal. The platform uses smart routing to optimize conversions and reduce fees. Initial integrations include wallet providers Cake Wallet and Bifrost Wallet. This launch builds on Onramper's existing on-ramp service, which facilitates the purchase of 2000 digital assets globally.
?? Fantom’s Rebranded Blockchain Sonic Labs Launches Testnet.
The blockchain formerly known as Fantom, now rebranded as Sonic Labs, launched its testnet, processing over 70 million blocks with an average block time of 0.45 seconds and a finality time of 0.76 seconds—making it one of the fastest EVM blockchains. Despite this, the FTM token saw a slight dip of 1.2%, though it has gained 88% in the past year. Sonic Labs focuses on dApp development, while the Sonic Foundation manages governance and treasury. A $10 million funding round was recently led by Hashed, with the Sonic Boom bounty program incentivizing further development.
?? Esquid, a decentralized escrow service for locked liquidity.
In decentralized finance, liquidity is crucial for market stability. Locked liquidity secures funds for a set period, preventing sudden market changes. Liquidity escrow platforms, like Esquid, enable developers and investors to buy and sell locked liquidity before it unlocks. Sellers can access funds immediately, avoid future market risks, and reinvest in new opportunities. Buyers benefit from discounted assets, arbitrage chances, and portfolio diversification. Esquid addresses common challenges by offering instant cash access and mitigating market uncertainty, while also opening up new investment opportunities.
?? Introducing Tenor: Ethereum’s Lending Order Book.
The Tenor Protocol introduces a decentralized lending order book system on top of existing money markets like Aave, Morpho, and Euler. It allows P2P fixed-rate lending and borrowing, addressing issues of capital efficiency and user experience found in current lending protocols. Tenor offers flexible trade sizes, low slippage, and yield-bearing liquidity for unmatched orders. Curators and DAOs can deploy these markets with low overhead, earning additional fees while expanding the utility of money markets. Tenor's modular design brings improved flexibility and scalability, moving the market from pool-based models to order book systems.
?? DWF Labs to Launch Synthetic Stablecoin Amid Growing Market Demand
DWF Labs has announced plans to launch its own synthetic collateralized stablecoin, backed by various assets to provide liquidity and risk management in the fast-growing stablecoin sector.
?? Zest Protocol Launches BTCz, Offering Bitcoin Holders New Way to Earn Yield
Zest Protocol introduces BTCz, a digital asset allowing users to stake their Bitcoin (BTC) to earn rewards. Leveraging Babylon Protocol and the security features of Stacks, BTCz aims to provide a secure yield-bearing option for Bitcoin holders in the DeFi ecosystem. With plans to gradually decentralize, BTCz positions itself as a reliable and innovative solution for those seeking yield in the crypto space.
?? Celestia unveils roadmap to 1-gigabyte blocks
The technical roadmap unveiled by Celestia aims to scale block size to 1 gigabyte to increase data throughput and compete with other protocols. By processing more transactions than Visa, Celestia plans to unlock new capabilities and applications onchain. Despite gaining market share from Ethereum, Celestia emphasizes its scalability beyond current constraints, establishing itself as a key player in the blockchain industry.
?? SKALE Labs and Moxy partner to bring gasless technology to reward-based gaming
SKALE Labs and Moxy, an esports and gamification platform, are teaming up to revolutionize the gaming industry by bridging the gap between web2 and web3 gaming. SKALE, known for its scalable blockchain network that supports gas-free, Ethereum-compatible decentralized applications, will now enhance Moxy’s platform. This partnership aims to transform the gaming experience by removing gas fees and leveraging SKALE’s high-throughput infrastructure. This will set a new benchmark for how gamers earn rewards, creating a more seamless and rewarding experience that blends casual and competitive gaming.
?? Mastercard Launches Crypto Debit Card for Self-Custodial Wallets in Europe With Mercuryo Partnership
Mastercard has announced the launch of a new crypto debit card in Europe through a partnership with Mercuryo. This innovative card allows users to spend over 40 different cryptocurrencies directly from their self-custodial wallets at more than 100 million merchants across the continent.
?? Worldcoin seeks Facebook-like scale for global reach, CEO Alex Blania says
At Korea Blockchain Week 2024 in Seoul, Tools for Humanity CEO Alex Blania emphasized that Worldcoin's current priority is the global distribution of its iris-scanning "Orbs" to scale the project. Blania compared Worldcoin's growth strategy to networks like PayPal and Facebook, stating that their usefulness increases with scale. He highlighted that their main focus now is expanding distribution and user verification worldwide
?? Arbitrum Stylus mainnet launch opens Web3 for traditional coders
领英推荐
Offchain Labs has launched Arbitrum Stylus, a virtual machine allowing developers to build powerful Web3 applications on Arbitrum with low gas fees using familiar languages. Stylus unifies EVM and traditional programming languages, enabling faster program execution and cost reduction within the gas limit, expanding possibilities for onchain applications. Future integration with protocols like ZK-proofs is expected to create a hybrid protocol for more sophisticated DeFi applications, facilitating the growth of the developer community and the Web3 ecosystem.
?? Forgd is Reinventing Web3 Advisory with Free Tools for Tokenomics Design
Forgd, a token advisory and optimization platform, has launched a free-to-use web platform for blockchain projects, offering tools for tokenomics design, liquidity monitoring, cap table management, and financial planning. The platform aims to eliminate financial barriers associated with traditional Web3 Advisory and simplify the token launch process. With a strategic alignment with the Solana Foundation, Forgd is committed to supporting scalable blockchain ecosystems and fostering project growth.
?? Mysten Labs tips Web3 gaming device to deliver in first half of 2025
Mysten Labs is offering preorders for their SuiPlay0X1, the first handheld gaming device to integrate the Sui blockchain, with deliveries expected in the first half of 2025. The device will allow players to enjoy both PC games and games created on the Sui blockchain, showcasing the seamless integration of blockchain technology in gaming. With over 1,000 preorders taken within hours of the announcement, the SuiPlay0X1 aims to provide a deeper and more engaging gaming experience without disrupting the fun for gamers worldwide.
?? SKY Announces Launch of USDS Stablecoin and DAI Swaps Starting September 18
SKY USDS launch DAI swaps marks a major development for the decentralized finance (DeFi) space, as SKY (formerly MakerDao) has announced the introduction of its new stablecoin, USDS. Beginning September 18, users will be able to convert DAI, the widely used decentralized stablecoin, to USDS at a 1:1 ratio. Additionally, users can swap supported cryptocurrencies for USDS, providing more flexibility in managing digital assets within the SKY ecosystem.
?? Lufthansa, Deutsche Telekom launch DePIN blockchain nodes.
Lufthansa and Deutsche Telekom have launched blockchain nodes on the Peaq network, marking a significant step towards enterprise adoption of Decentralized Physical Infrastructure Networks (DePINs). The Peaq network, a Layer-1 blockchain designed for DePIN and real-world assets, will benefit from the participation of these major enterprises, valued collectively at over $170 billion.
?? Kraken's Fiat Margin Trading Now Restricted in Australia After Court Ruling.
An Australian court has ruled that Kraken's fiat margin trading is subject to regulation under the Corporations Act, but its crypto margin trading is not. In response, Kraken has restricted fiat margin trading to wholesale investors while leaving crypto margin trading unaffected. The exchange has called for clearer cryptocurrency regulations in Australia, highlighting the current legal framework’s inadequacy for the crypto sector.
?? Latvia’s central bank opens pre-licensing consultations to crypto companies.
Latvia’s central bank is offering free pre-licensing consultations for crypto-asset service providers (CASPs) to help them comply with the European Union's Markets in Crypto-Assets (MiCA) Regulation. Starting January 2025, the bank will manage the licensing process for CASPs in Latvia. The consultations aim to guide companies through regulatory requirements, documentation, and compliance assessment. This initiative is part of Latvia's broader effort to align with EU regulations and attract crypto businesses.
?? Over 600 Bitcoin ATMs went offline globally in 2 months
In the first two months of Q3 2024, over 600 Bitcoin ATMs went offline globally, with the US leading in shutdowns. Law enforcement authorities are targeting Bitcoin ATMs involved in scams. The FTC reports a tenfold increase in scam cases, with losses exceeding $110 million in 2023. Operators are taking measures to warn users about potential scams, as regulations tighten in various jurisdictions.
?? Robinhood to settle $3.9 million penalty with California DOJ over past crypto withdrawal restrictions
Robinhood's cryptocurrency division has agreed to a $3.9 million settlement with California's Department of Justice following an investigation into its practices from 2018 to 2022. The probe found that customers were unable to withdraw their cryptocurrency and had to sell it back to Robinhood to exit the platform. The company was also accused of misleading customers about offering the best prices by claiming to connect with multiple trading venues. Attorney General Rob Bonta emphasized that the settlement serves as a warning to all businesses, including cryptocurrency firms, to comply with California's consumer protection laws.
?? Scottish Court Sets Precedent With Crypto-to-Cash Confiscation
In a groundbreaking move, prosecutors in Scotland have successfully converted cryptocurrency into cash under proceeds of crime legislation, requiring John Ross Rennie to hand over ￡109,601 linked to criminal activity. Initially proposed to settle in cryptocurrency, Judge Lady Ross sought legal clarification on the matter, marking a significant milestone in legal history.
?? Deepfake Tim Cook promotes crypto scam during Apple event.
During Apple's "Glowtime" event on September 9, 2024, scammers used a deepfake video of Apple CEO Tim Cook to promote a cryptocurrency scam. The AI-generated video, which falsely advertised a fraudulent scheme as a beginner-friendly crypto opportunity, attracted over 355,000 viewers. The scammers used verified YouTube channels and fake websites with misleading transaction histories to trick viewers into sending cryptocurrencies to their wallets.
?? FBI reports a 45% surge in losses tied to crypto fraud in 2023.
The FBI reported a 45% increase in crypto fraud losses in 2023, with over $5.6 billion lost from more than 69,000 complaints. Crypto fraud accounted for 10% of total financial fraud cases and half of the total losses. Seniors were the most frequent victims, and investment scams were the most common type of fraud reported. The FBI highlighted that the rise in scams is driven by cryptocurrency's promotion as an investment, leading criminals to exploit those unfamiliar with the technology. Additionally, the FBI warned of job scams linked to labor trafficking and increasing fraudulent activity through crypto kiosks.
?? Revelo Intel CEO Resigns After Armed Robbery Targeting Crypto Assets.
Nick Drakon, CEO of crypto research platform Revelo Intel, resigned after being held at gunpoint in a robbery where he was forced to transfer personal, company, and investor funds. The criminals, who had been surveilling him, specifically targeted his crypto assets and knew the deposit addresses of his businesses. Drakon revealed that his wife and young child were also threatened during the incident. Former COO Vu Benson has taken over as CEO. Drakon forfeited his interest in the company and committed to returning some stolen funds to mitigate the financial impact on investors.
?? Tether for treason in Taiwan, East’s crypto exchange resurgence: Asia Express
Taiwanese military officers faced charges for selling classified information to China in exchange for cryptocurrency. The rise in espionage cases for financial gain among soldiers reflects a shift in China's espionage strategy towards younger officers. Tensions between China and Taiwan continue to escalate, with authorities investigating the source of stolen funds from a recent cryptocurrency scam.
?? Angel Drainer upgraded, deploying 300+ malicious DApps in 4 days
The new and improved AngelX crypto phishing toolkit has already deployed 300 malicious decentralized applications, targeting newer and less mature blockchains like TON and Tron, according to a report from Blockaid. The system features an upgraded UX and control panel, allowing scammers to create highly customizable scam apps with an extremely high evasion rate. Blockaid's early detection of AngelX helped safeguard around $400,000 in assets from potential theft within the first five days of operation. Security analysts estimate that around $25 million in crypto assets have been stolen by Angel Drainer-powered phishing scams.
?? North Korean scammers prep stealth attacks on crypto outfits
North Korea targeting DeFi employees in advanced social engineering attacks to steal cryptocurrency. Beware of sophisticated tactics and indicators of potential scams.
?? Accenture invests in Emtech to strengthen CBDC, fintech solutions.
Accenture has invested in fintech startup Emtech to enhance its central bank digital currency (CBDC) and fintech solutions. This investment will integrate Emtech’s CBDC infrastructure and regulatory sandboxes into Accenture’s core services. Founded in 2019, Emtech serves multiple central banks and fintechs and has developed a CBDC proof-of-concept for Haiti. The collaboration aims to modernize banking infrastructure and support digital transformation. Emtech will also join Accenture’s Venture Project Spotlight accelerator.
?? Polish Financial management app, IN1, raises $6M.
IN1, a financial management app based in Poland, has raised $6 million in seed funding. The app allows users to manage all their cards and accounts, offering both fiat and crypto functionalities. It includes fiat accounts, a crypto wallet, and a combined payment card. IN1 is targeting fintechs and banks with its platform and holds a Virtual Asset Service Provider (VASP) license for crypto trading and custody. The funding will aid in finalizing product development and support its European launch, with plans for expansion into the MENA region and Asia.
?? DRiP’s $8M seed round highlights a path forward for NFTs.
DRiP, a Solana-based creator platform, has raised $8 million in seed funding led by NFX, with contributions from Coinbase Ventures and Progression. DRiP enables creators to list and sell work, and receive tips using its in-app currency, Droplets. The platform utilizes Solana’s compressed NFTs (cNFTs) for low-cost creation and storage, allowing for accessible, low-cost collectibles. CEO Vibhu Norby emphasizes a focus on affordable NFTs over high-priced ones, aiming to separate sustainable NFT traits from speculative ones. DRiP plans to launch a mobile app in October and sees potential growth in the music sector.
?? PIN AI raises $10M in pre-seed funding to advance decentralized AI platform.
PIN AI has raised $10 million in pre-seed funding to advance its decentralized AI platform, Personal Intelligence Network. The platform, part of the Fall 2024 a16z Crypto Startup Accelerator, aims to offer privacy-focused AI by allowing users to host AI models on their devices, avoiding reliance on centralized tech giants. The open-source platform enables developers to create secure AI agents and gives users full control over their data.
?? BlockDAG Nets a $10 Million Deal with Borussia Dortmund, Leaving Dogecoin and Shiba Inu News in the Sidelines
BlockDAG secures a groundbreaking $10 million deal with Borussia Dortmund, catapulting blockchain technology into the mainstream. With a focus on global exposure and innovative solutions, this partnership sets the stage for BlockDAG's continued growth. As Dogecoin and Shiba Inu make waves in the crypto world, BlockDAG's presale success underscores its position as a leader in the blockchain revolution.
?? Hypernative Secures $16 Million in Series A Funding to Enhance Web3 Security
Hypernative has successfully secured $16 million in a Series A funding round spearheaded by Quantstamp, with other notable investors joining the fray. This new capital will be channeled into enhancing its artificial intelligence (AI)-driven security solutions tailored for the Web3 ecosystem.
?? Ethereum stablecoin volume hits record $1.46 trillion as DeFi demand surges.
Ethereum's on-chain stablecoin volume has hit a record $1.46 trillion, more than doubling from $650 billion at the start of the year. The decentralized stablecoin DAI leads with $960 billion in volume, reflecting growing interest in decentralized finance. Despite some volume possibly coming from wash trading, newer entrants like PayPal’s PYUSD have seen significant growth. Stablecoins like USDC and USDT continue to support DeFi infrastructure, suggesting a maturing ecosystem with deeper liquidity and improved market efficiency.
?? Snapshot to launch onchain voting on Starknet.
Snapshot is launching Snapshot X, a new on-chain voting protocol on Starknet, utilizing storage proofs from Herodotus. This protocol aims to reduce gas fees by leveraging Starknet’s layer-2 technology while verifying token ownership on Ethereum layer-1. Snapshot X will allow DAOs to conduct governance voting on-chain more affordably and will support popular EVM wallets like MetaMask.
?? Toncoin price starts to recover following Durov's release, despite slow market.
Toncoin's value has risen over 7% in the past 24 hours, outpacing other major cryptocurrencies, despite the overall market remaining flat. The altcoin's recovery follows the arrest and subsequent release of Telegram founder Pavel Durov, though Toncoin has dropped from the top ten crypto rankings. Analysts suggest further price gains could occur in September, depending on macroeconomic factors like a potential U.S. Federal Reserve rate cut.
?? Roblox will allow devs to skip Robux and charge players in fiat money.
Roblox will soon let developers sell paid games directly for fiat money, bypassing its virtual currency, Robux. This change aims to attract more developers and expand the platform. Developers will also benefit from a tiered revenue-sharing model, earning up to 70%. Additionally, Roblox has partnered with Shopify, enabling players to purchase physical merchandise within the platform's experiences. The move could reflect a broader industry trend, as developers shift away from closed ecosystems using virtual currencies toward more traditional fiat marketplaces.
?? Crypto SocialFi Platforms Decline: Farcaster, Lens, and Friend.Tech See Sharp Drop in Activity.
SocialFi platforms Farcaster, Lens, and Friend.Tech, once hailed as the future of decentralized social media, have seen a steep decline in user activity by late 2024. Farcaster’s daily active users dropped from 104,000 in July to 60,000 in September, despite significant funding. Lens Protocol saw a similar drop in engagement. Friend.Tech, which initially generated over $2 million in fees, now sees minimal revenue, prompting its developers to renounce control of its smart contract. These platforms face criticism for failing to offer innovative user experiences compared to existing Web2 alternatives.
?? China Urged to Establish Unified Crypto Regulations for Seized Digital Assets
A law professor at the East China University of Political Science and Law has highlighted the urgent need for China to standardize procedures for recovering illicit digital assets due to a rise in cryptocurrency-related crimes. He stressed the lack of uniform standards complicates asset recovery and urged for comprehensive guidelines and international cooperation to manage digital currencies effectively.
?? EigenLayer plans to distribute 86 million tokens to stakeholders in season 2 ‘stakedrop’
EigenLayer has announced the second season of its "stakedrop," distributing 86 million EIGEN tokens to stakers, node operators, ecosystem partners, and community members. The airdrop targets participants active between March 15 and August 15, with claims beginning on or before September 17, 2024. This follows the first stakedrop launched in April.
?? TON Accelerator Unveils $2.5M TON:Acc Incubator to Enable Adoption of Toncoin Chain via Telegram Mini Apps
The TON Accelerator has introduced the TON:Acc program to boost the adoption of the Toncoin (TON) blockchain through Telegram. This revamped incubation program aims to select five projects to accelerate their development on the Toncoin network with an investment of up to $2.5 million, providing funding, expertise, and support. The combination of the TON blockchain and the Telegram platform has opened new economic opportunities for millions of users, with the Toncoin blockchain celebrating a major milestone of 1 billion on-chain transactions. Despite recent network outages impacting the adoption of TON, the program aims to support the growth of TON-based projects and mini-apps in the future.
?? ZKsync developer Matter Labs lays off 16% of its workforce
Matter Labs, the company behind the Ethereum scaling network ZKsync, has announced the layoff of 24 employees, representing over 16% of its workforce, as it shifts focus from general-purpose scaling to niche applications. Despite the layoffs, the company continues to hire for critical engineering and business roles, emphasizing its commitment to innovation and growth in the competitive Ethereum layer-2 ecosystem. The decision to downsize was described as the hardest change in Matter Labs' six-year history, reflecting a strategic pivot towards more specialized solutions and aligning resources with new strategic goals.
?? Trader turns $5k into $670K on Ethereum pump.fun rival Ethervista
A crypto trader made a massive profit of over $670,000 by buying $5,000 worth of VISTA tokens, the native token of the new Ethervista platform, and selling them off two days later. The platform aims to compete with Pump.fun as an Ethereum-based memecoin launchpad with a fair launch model and deflationary tokenomics. Despite some issues with liquidity removal transactions, Ethervista has gained significant attention, with VISTA prices surging 33% in the past 24 hours.
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6 个月This week’s newsletter is packed with the latest updates, insights, and trends in Web3 and blockchain. Discover the newest breakthroughs and what’s coming next. Let’s keep building the future together!?