Author: Coindesk
The fundraising consisted of seed equity and debt financing led by crypto venture capital firm Dragonfly Capital. A wide range of investors also participated in the round: investment firms Room40 Ventures, Selini Capital and Breed VC, corporate partners FalconX, Circle Ventures, Paxos, P2 Ventures (previously Polygon Ventures), Deribit, Chorus One, StarkWare and Immutable, and angel investors at Aevo, Cega, Talos, Amberdata, and Framework, the press release listed. Read the full article here
NODES FOR SALE: It’s the blockchain industry’s latest innovation – not in technology, but in how to round up cash from investors. “Node sales” involve selling blockchain nodes directly to investors – a process that brings in quick cash while ostensibly giving projects an easy path to decentralization. Still a relatively new phenomenon in fast-moving crypto, they are becoming more common: Aethir, a decentralized GPU cloud infrastructure provider, disclosed last week that it had distributed more than 73,000 node licenses valued at over 41,000 ETH ($126 million). Other blockchain projects raising funds via node sales include CARV, XAI Games and…
When examining the top three blockchain platforms and their stablecoin usage, TRON transactions are heavily dominated by USDT, with a dominance of 98.2%. On TRON, USDT transfers typically range from 95 cents to approximately $2, though gas fees can vary. Meanwhile, the TON wallet is natively integrated into the Telegram app, allowing users to conduct peer-to-peer USDT transactions within the TON wallet for free. Transactions between two USDT users outside the wallet reportedly incur a network fee of 0.0145 TON, which equates to about $0.09 as of May 6 2024. Read the full article here
Real-time analysis of the chart of bitcoin shows that, as of early-May 2024, there was a loss of intermediate-term momentum per momentum indicators like the MACD (Moving-Average-Convergence-Divergence), which has a bearish crossover. The loss of momentum suggests that bitcoin is in a corrective phase that should persist for at least another few weeks. Downside risk can be framed by the next support on the chart, near $51,500, which is defined by a 38.2% Fibonacci retracement of the uptrend off the 2022 low and bolstered by a rising 200-day moving average. Read the full article here
As EigenLayer continues to build out its core technology, Lagrange will have “a set of operators from very, very reputable groups that run our infrastructure,” said Hishon-Rezaizaheh. Those operators will include Kraken, the crypto exchange, and Galaxy, a crypto-financial firm, among others. Read the full article here
The blockchain project’s founders aren’t even publicly named, but they’ve enjoyed remarkable success in fundraising, partly thanks to this increasingly popular fundraising method, where the longer you wait, the higher price you pay. Read the full article here
“The significance of Injective’s integration with Arbitrum extends beyond just building blockchain networks or infrastructure,” said Eric Chen, the co-founder of Injective Labs, in the press release. “It enforces the fundamental principle of interoperability – closing the gap between Ethereum, Cosmos and other widely adopted L1s – for an ecosystem where cross-chain assets and liquidity can be truly composable across ecosystems.” Read the full article here
Bitcoin slid toward $62,000 during the Asian and European mornings on Wednesday as part of a broader dip across the crypto market in which tokens lost more of their gains from the rally at the end of last week. BTC is priced at around $62,200 at the time of writing, down nearly 2.9% in the last 24 hours. The CoinDesk 20 Index (CD20), which measures the performance of the whole digital asset market, has sunk around 3.65%. Solana is one of the worst affected of the leading altcoins, falling 6.5% to $146, while ether has declined by around 3.63% to…
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It seems increasingly unlikely that Congress will actually pass a legislation, which addresses the woes of the crypto industry in the near term. As a result, the industry’s growing strategy of looking for court victories may well be the right one, so to speak – if federal judges, appeals courts, and (I’m guessing) the U.S. Supreme Court start to create case law for companies and regulators to use, that will be one way of securing what the crypto industry calls regulatory clarity. Read the full article here