Cresco is sunsetting its protocol. The founder of the protocol was “facing health challenges.” Some team members have forked the protocol. Cresco, a DeFi protocol for synthetic stocks, commodities and crypto trading, is shutting down the platform Announced On Thursday. Protocol, which has raised $4.15 million from investors between 2021 and 2023, cited founder Deepak … Read more
Tron DAO Reserve shed 12,000 Bitcoins to support its USDD stablecoin. The change was made without a DAO vote. The Tron DAO Reserve, which manages the USDD stablecoin, removed $732 million worth of bitcoin in support of the stablecoin on Wednesday, fueling concerns that the entity is not as decentralized as claimed. USDD, which has … Read more
Crypto is becoming more common among all criminal activities, said Jonathan Levine, co-founder of Chinalysis, adding that Tether is taking the right steps to change its image in the market. 65% of Chinalysis' revenue comes from the public sector. It's not just investors who are desperate to dive headfirst into crypto. Just as spot bitcoin … Read more
One of the largest NFT marketplaces will soon have the token. Its ticker is $ME. The ME Foundation declined to disclose Tokenomics. Magic Eden, one of crypto's largest NFT marketplaces with $6 billion in total trading volume, will soon have its own token, the ME Foundation announced on Thursday. The ME Foundation, made up in … Read more
Ex-FTX executive Ryan Salam is seeking to have his conviction dropped. Salam's lawyers said prosecutors did not cut their deal to drop the investigation into Salam's partner. Prosecutors said the claims were “incompetent, incomplete and completely false”. Former FTX executive Ryan Salam, who pleaded guilty in September 2023 to two counts of campaign finance and … Read more
Kamala Harris accepted the Democratic nomination. A month into the presidential race, her stance on crypto is still unclear. US President Joe Biden dropped out of the presidential race a month ago and endorsed Vice President Kamala Harris, who is likely to become the 47th President of the United States. If Harris wins the election … Read more
Crypto companies, executives and investors have gathered more than any other industry to influence the 2024 election. Crypto now trails only the fossil fuel industry in political spending since 2010. According to watchdog group Public Citizen, the crypto industry will spend an “unprecedented” amount of money in 2024 trying to influence US congressional elections. Crypto … Read more
DeFi Protocols Drops Wrapped Bitcoin After Controversial Partnership It provides an opportunity for competitors to enter the market. Wrapped Bitcoin ownership drama sparks interest in bringing Bitcoin to Defy. On August 9, BitGo Plans announced To transfer control of wrapped bitcoin — or WBTC — to crypto custody platform BiT Global and a joint venture … Read more
PIP Labs unveiled one of the biggest crypto raises this summer. Co-founder Seung Yoon Lee hopes that Story Blockchain can help creators get more out of AI companies. This is the third fundraiser a16z has led for the lead developer behind the story. Seung Yoon Lee started his first startup, a serialized fiction app, when … Read more
Institutional investors increased their bitcoin exposure in the second quarter of 2024, 13F filings show. Bitwise's Matt Haugan called the adoption rate “historic.” But traditional players don't stop there, he said. Spot bitcoin exchange traded funds received more from institutional investors in the second quarter of 2024. That trend is likely to continue. This is … Read more
The Solana Protocol opens a new market for anti-trading for mining memecoins. The new platform enables short squeezes on Solana Memecoins. Crypto's memecoin market has lost $13 billion since July. Solana Protocol Dumpy.fun is launching a new feature that turns its initial purpose – shorting Solana memecoins – on its head. A new market called … Read more
Coinbase Hires Heavyweight Board Members Brooklyn District Attorney Seeks Crypto Analyst The crypto industry offers many opportunities for interesting work. On one hand, you can get paid to create memes for a web3 company. For those with lofty ambitions, the role of chief of staff is growing in this field. So who has been hired … Read more