Liquity’s upgraded protocol aims to take on the increasing competition for DeFi yields, with plans to go live in the third quarter. The new stablecoin, BOLD, will coexist with Liquity’s LUSD, adding liquid staking ETH derivatives as collateral assets to provide liquidity or leverage for investors. Decentralized finance (DeFi) lending …
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ZK project Hylé raises $2.6 million in funding round led by Framework Ventures
by MK Manoylovby MK Manoylov–> UPDATED: May 14, 2024, 9:40AM EDT Zero-knowledge project Hylé raised $2.6 million in fresh financing led by the venture firm Framework Ventures. Cherry Crypto, Fabric Ventures, First Capital and Heartcore Capital also participated in the round. Hylé’s total initial funding to date is $3.4 million, with an additional $1.5 …
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A Dutch court has convicted Alexey Pertsev, the developer of the crypto mixing platform Tornado Cash, of laundering $1.2 billion in illicit assets. Pertsev, a 31-year-old Russian national, faces a significant sentence of five years in prison following the guilty verdict on May 14. Pertsev Case Details Alexey Pertsev, the …
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Tornado Cash developer Alexey Pertsev has been found guilty of laundering $1.2 billion in illicit funds using the sanctioned crypto mixer. Pertsev, a 31-year-old Russian living in the Netherlands, was sentenced to 64 months in prison by a Dutch court. His lawyers can appeal the decision within 14 days. Tornado …
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A spike in network fees briefly eased their strain. Yet, declining transaction fees are now increasing financial pressure. Post-Halving Pressures Mount for Bitcoin Miners Amid Declining Fees Kaiko Research recently reported a surge in daily average network fees after the halving. This surge helped Bitcoin miners offset some discomfort, albeit …
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Deutsche Bank has shown increased interest in digital assets and tokenization by joining the Monetary Authority of Singapore’s Project Guardian. This initiative tests asset tokenization applications in a regulated environment, focusing on the viability and potential integration within the financial markets. Participation in Project Guardian will also involve Memento Blockchain …
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This vulnerability could have let an attacker create fake token transfers, but CertiK’s swift action secured users’ funds. Aptos’ Wormhole Bridge $5M Security Flaw Discovered CertiK found the flaw in the Wormhole bridge on Aptos and reported it to the Wormhole team. The problem stemmed from incorrectly implementing the MOVE …
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The Bitcoin Runes protocol experienced a significant decrease in activity and fee revenue after its initial surge after the Bitcoin halving. Runes takes the Ordinals protocol a step further by making transactions cheaper and faster, but has failed to maintain meaningful traction among users. Despite the initial excitement, the protocol’s …
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On Monday, May 13, Hong Kong’s spot Bitcoin and Ethereum ETFs saw a total outflow of $39.3 million, according to preliminary data from Farside Investors. It is the highest total outflow for the institutional investment products since they were launched on the Hong Kong Stock Exchange on May 2. Spot …
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–> LayerZero Labs co-founder and CEO Bryan Pellegrino said on X that up to 100,000 addresses have self-reported as the initiative to curb Sybil activity on the project’s airdrop comes to an end. LayerZero Labs, known for being the core contributor to LayerZero interoperability protocol, recently implemented a self-reporting mechanism …