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The protocol reached a total value locked of $3.8 billion at its peak. Cross-chain protocol Wormhole has secured a $225 million investment at a valuation of $2.5 billion. According to the Nov. 29 announcement, the investment round was led by Brevan Howard, Coinbase Ventures, Multicoin Capital, Jump Trading, ParaFi, Dialectic, Borderless Capital, and Arrington Capital.  The Wormhole Foundation also announced the launch of Wormhole Labs, which the company says "is an independent technology company that specializes in building products, tools, and reference implementations that help grow cross-chain activity and development." Currently, its blockchain-to-blockchain communications technology is used to bridge assets, power oracle data feeds, and transfer non-fungible tokens. Wormhole was launched in 2021 and has since facilitated over $35 billion in transactions. Developers claim that the protocol processes over 2 million cross-chain messages across more than 30 chains every d...

Hive Digital Technologies has acquired land and a data center to expand its operations in Sweden, house generation ASIC servers, and increase Bitcoin production. The cryptocurrency mining company Hive Digital Technologies revealed plans to expand its global presence through a new acquisition of property and a data center in Boden, Sweden. On Nov. 27, the company announced that it's entered a property transfer agreement with Turis AB to take over the property of a data center previously constructed as a part of the EU Horizon 2020 project. Hive said this new property is in “close vicinity” to its existing data center in Sweden and it plans to further develop the facility in its portfolio. It says the property will also house its incoming generation ASIC servers and increase its Bitcoin (BTC) production. Johanna Thornblad, Hive's country president for Sweden, said that “The new data center will enable HIVE to grow its regional footprint while further demonstrating its commi...

Binance product lead Mayur Kamat says he is passing the baton to “next-gen leaders” to take some time off after years of product work. Cryptocurrency exchange Binance continues to lose some of its key executives amid increasing scrutiny of the platform from regulators around the world. Binance head of product Mayur Kamat has confirmed he is leaving the crypto exchange after nearly two years. “It is time for me to step down and transition product leadership to Binance’s next-gen leaders. I have worked closely with product leads to ensure a seamless transition,” Kamat told Cointelegraph on Sept. 4. Kamat also said that it is a good time for him personally to take some time off after 20 years of “non-stop product work.” He added: “It has been an experience of a lifetime working at Binance and seeing our user base grow. Thanks to [Changpeng Zhao] CZ and the entire leadership team for this amazing opportunity. I will be cheering Binance from the sidelines.“ Formerly a product manager...

The co-filing comes just a week after reports emerged that the SEC is likely to greenlight Ethereum ETF applications. Investment firms ARK Invest and 21Shares have teamed up to apply for two Ethereum futures exchange-traded funds after reports emerged last week that the United States securities regulator could soon begin approving applications. The two proposed Ethereum futures ETFs are “ARK 21Shares Active Ethereum Futures ETF” (ARKZ) and the “ARK 21Shares Active Bitcoin Ethereum Strategy ETF” (ARKY), according to an Aug. 24 filing to the Securities and Exchange Commission. The filing states that ARKZ would invest at least 25% of its total assets in cash-settled Ethereum futures contracts, such as those traded on the Chicago Mercantile Exchange (CME).  ARK 21Share has filed two more Bitcoin/ Ethereum ETF applications to the SEC. Source: SEC. ARKY, on the other hand, will consist of both Bitcoin and Ethereum futures contracts. Empowered Funds has been assigned as investment adviso...

Alternative funding options, such as grant programs, have grown in popularity as the bear market continues to slash venture capital from the crypto industry. As the bear market keeps slashing venture capital from the crypto industry, alternative funding options, such as grants , have been gaining traction as a means of supporting the community while enabling the growth of established projects in a challenging crypto environment.  According to Blockchain Grants, at least 40 crypto projects are currently offering grants for developers working on Web3 solutions, while data from Cointelegraph Research indicates that the market downturn has left a void in crypto venture capital, resulting in a 30% drop in funds injected into Web3 projects over the past 12 months. Grants and venture capital are two different funding mechanisms with distinct purposes and conditions. While grants are often used to support projects that align with specific objectives and values, venture capital seeks startup...

The recent disclosure ups the figure disclosed in earlier records which said Trump held between $250,000 to $500,000 in an Ethereum wallet. A new financial statement has revealed former United States President Donald Trump owns over $2.8 million in an Ethereum wallet . The statement s shared on Aug. 14 by the non-profit watchdog Citizens for Responsibility and Ethics in Washington show Trump made over $4.8 million from licensing fees tied to nonfungible token (NFT) collections using his image — with Trump netting around $7.6 million from his crypto-related ventures. The $2.8 million in Trump’s Ethereum wallet is considerably larger than the $250,000 to $500,000 figure disclosed in Trump’s April 14 filing. You might've missed this in the middle of the Georgia indictment news, but we got our hands on new Trump financial documents. Give them a read here: https://t.co/oAHGihGNAO — Citizens for Ethics (@CREWcrew) August 15, 2023 Trump is bidding to return to the White House in...

Once the bankruptcy plan receives approval, the lender said it intends to concentrate on recovering funds from other defunct firms. BlockFi’s reorganization is gradually progressing, with the company revealing that the United States Bankruptcy Court for the District of New Jersey has conditionally approved its disclosure statement. BlockFi and the Official Committee of Unsecured Creditors jointly issued a statement on Aug. 2, 2023, urging all eligible parties to vote to accept the plan by the Sept. 11 voting deadline. The successful approval of the plan will effectively resolve the Chapter 11 cases and facilitate the return of client funds. Once the bankruptcy plan receives approval , the lender said it intends to concentrate on recovering funds from several defunct firms, including Alameda Research, FTX, Three Arrows Capital, Emergent, Marex and Core Scientific. The primary aim is to optimize client recoveries while countering claims by third parties that could significantly dilute ...

A look at the role played by crypto funds in providing essential capital and liquidity, propelling the growth and expansion of the crypto market. A crypto fund is an investment fund that primarily focuses on investing in cryptocurrencies or digital assets. It allows investors to gain exposure to the crypto market without having to purchase individual coins or tokens themselves. Instead, these funds pool money from multiple investors to purchase various cryptocurrencies, often including Bitcoin (BTC), Ether (ETH) and other popular tokens. Crypto funds can also be categorized based on their investment strategies. For instance, some funds may invest exclusively in Bitcoin, while others may invest in a diverse range of cryptocurrencies or focus on investing in tokens that have promising underlying technology or are backed by established companies. Additionally, some funds invest in crypto-related companies like mining or trading firms. Investors in crypto funds may include high-net-worth...

Blockchain4Youth will provide courses through Bitget Academy and host university lectures on the topic of Web3. On May 4, cryptocurrency derivatives exchange Bitget announced it would allocate $10 million over five years for its novel corporate social responsibility project . Dubbed "Blockchain4Youth," the project will provide Blockchain courses and certifications through Bitget Academy and host campus lectures in partnership with universities worldwide. In addition, Bitget staff wrote: "The platform will also collaborate with other leading blockchain firms to incubate innovative projects by young entrepreneurs and host U30 (Under the age of 30) hackathons to identify the most promising ones." Blockchain4Youth will commence this month with a series of campus lectures on Web3 held in universities across Taiwan, Vietnam and Thailand. Bitget Academy courses will also be available around the same time. The exchange says it is open to partnerships with educators for...

The new algorithmic currency system aims to provide a more “stable, efficient and scalable” asset than common coins like Bitcoin. Singapore’s government-owned investment firm Temasek continues investing in cryptocurrency projects even after losing hundreds of millions of dollars to the collapsed FTX crypto exchange. Temasek has invested $10 million in Array, the developer of an algorithmic currency system based on smart contracts and artificial intelligence. Announcing the news on May 1, Array said that the raise is its second funding round, which is believed to bring the firm’s valuation to more than $100 million. The new Temasek-backed algorithm ic currency system aims to provide a more “stable, efficient and scalable” asset than traditional Cryptocurrencies like Bitcoin (BTC). The system is expected to have a variety of use cases, including payments, remittances as well as investments. Array’s smart contract platform, ArrayFi, is designed to enable decentralized applications bui...

The Deputy of Indonesia’s Ministry of Tourism and Creative Economy explains how NFTs and cryptocurrency can help solve social and economic challenges within Indonesia. One of the primary benefits of Blockchain Technology is the ability to record and capture information in a permanent, tamper-proof record. Once data is on a Blockchain network, it cannot be altered, making it an ideal solution for record-keeping.  Tokenized assets, such as nonfungible tokens (NFTs), can also be placed on a blockchain. This can verify ownership while demonstrating that certain events occurred at particular times. For example, the Meta History Museum tokenized data from the war in Ukraine in May 2022, placing the information on a blockchain network to preserve records of the war. Ensuring that specific events take place is also becoming more important than ever due to the rise of artificial intelligence (AI) and its ability to generate deep fakes, along with historical images that may appear realistic. N...

Joined the Silvergate Exchange Network back in 2019, Kraken is now looking for new ACH funding options. Major cryptocurrency exchange Kraken is experiencing difficulties with the withdrawal and deposit channel related to the automated clearing house (ACH) via Silvergate. Kraken has reportedly notified its users that it will be unable to support ACH deposit s and withdrawals starting from March 27. According to multiple online reports by alleged Kraken users, Kraken sent an email notice with the announcement on March 22. In the statement, Kraken specified that users will no longer see a deposit option via Plaid or withdrawal option via ACH Silvergate beginning March 27. “No other services will be affected by this change, including ACH instant purchases via Online Banking,” the firm noted. Kraken has advised users to take a look at the other available funding options in order to ensure uninterrupted funding experience, including MVB Bank for Fedwire deposits and withdrawals as well as...

U.S. dollar withdrawals on Okcoin are not affected by the suspension. According to a March 13 tweet by Okcoin CEO Hong Fang, the U.S. affiliate of cryptocurrency exchange OKX had no exposure to defunct U.S. tech bank Silicon Valley Bank (SVB). However, Fong stated that Okcoin’s U.S. dollar wire and ACH deposits have been “immediately paused” due to the regulatory intervention in Signature Bank, Okcoin’s primary partner for customer transactions in dollars.  On March 12, New York state regulators closed Signature Bank, a major financial institution for fiat-crypto on-ramping, citing a “systemic risk exception” in the wake of SVB’s collapse. In addition to suspending dollar deposits , Fang wrote that “over-the-counter services will be temporarily paused too,” including its quick buy and recurring buy functions. Okcoin also stated that the suspension extends to “crypto transactions by credit card” and “trading USD-crypto trading pairs.” In response to user inquiries, Fang clarified that...

Chatcasso won the first prize in the BNB Chain hackathon for creating an AI-powered tool for creating NFTs and won $5,000 in BUSD, held in Seoul between Dec. 17 to 19, 2022. Crypto exchange Binance has been accused of “blatantly” copying the winner of the BNB Chain hackathon after launching Bicasso — an AI-based nonfungible token (NFT) creation tool. Binance allegedly ripped off a tool created by Chatcasso just two months after awarding them first prize in a BNB Chain hackathon held in Seoul between Dec. 17 to 19, 2022. On March 1, Binance CEO Changpeng ‘CZ’ Zhao announced the launch of Bicasso, an artificial intelligence (AI) product that can be used to “turn your creative visions into NFTs with AI.” However, community member ggoma believes Binance copied his project Chatcasso and shipped it as their own offering. "Keep building " - @cz_binance said. What he DIDN'T say - "If you guys build it well, we'll blatantly copy it and ship it as our product! " Stor...

The BAYC creators have settled with developer Thomas Lehman over his role in selling a copycat collection of BAYC NFTs. The creator of the nonfungible token (NFT) collection Bored Ape Yacht Club has settled a lawsuit with one of the developers behind a copycat collection known as RR/BAYC.  On Feb. 6, Yuga Labs settled a lawsuit that involved Thomas Lehman, the develop er of websites and a smart contract selling “misleading” BAYC NFTs from digital artist Ryder Ripps. The firm behind the blue-chip collection sued Lehman in January for his involvement and technical support for the collection of mimic monkeys. According to the suit, Lehman assisted Ripps and Jeremy Cahen to develop and promote the NFTs on social media. It claimed that this was a “deliberate effort to harm Yuga Labs at the expense of consumers by sowing confusion,” regarding the two collections. In the settlement, Yuga Labs and Lehman agreed on a permanent injunction barring Lehman from using any “confusingly similar” B...

Nifty Gateway was founded in 2018 and acquired by Gemini in 2019. In a Twitter thread posted on Jan. 25, Duncan Cock Foster and Griffin Cock Foster, co- founders of nonfungible token (NFT) auction platform Nifty Gateway, announced their resignations effective immediately. In supporting the decision, Duncan said they were leaving because “Griffin and I are founders at heart, and we want to start another company.” “When @Gemini acquired NG in 2019, Griffin and I said if everything went amazing and we loved it, we would stay for 4 years before starting another company. We ended up staying the max amount of time we originally thought possible, which shows how great this experience was!” The move comes amid a legal battle between Nifty Gateway’s parent company, Gemini, and bankrupt cryptocurrency lender Genesis Global. Gemini alleges that the latter owes its users $900 million as part of its Gemini Earn program after Genesis Global halted withdrawals due to “unprecedented market conditio...

Binance previously said the firm’s corporate holdings are recorded in separate accounts and should not form part of the proof-of-reserves calculations. Major Cryptocurrency Exchange Binance reportedly admitted that it mistake nly stores some customer funds in the same wallet with its collateral for some in-house token s. After the revelation, Binance started the process of transferring the assets in question to dedicated collateral wallet s. Binance mistakenly put collateral for some of the Binance-minted tokens, or B-Tokens, in a wallet that also holds customer assets, Bloomberg reported on Jan. 24. On Monday, Binance released a proof of collateral for B-Tokens, providing information for all 94 tokens issued by Binance. The firm previously stressed that B-Tokens are always fully collateralized and backed 1:1. According to the ​​proof of collateral, Binance reserves for almost 50% of all B-Tokens are currently stored in a single wallet called “Binance 8.” The wallet holds signific...

The media’s lawyers argued the public’s right to know Bankman-Fried's sureties outweighed their privacy and safety rights, but Bankman-Fried’s lawyers strongly disagreed. Eight major media companies including Bloomberg, The Financial Times and Reuters have demanded public disclosure of the two individuals responsible for guaranteeing FTX former CEO Sam Bankman-Fried's $250 million bond.  In a Jan. 12 letter addressed to New York District Court Judge Lewis Kaplan, attorneys from Davis Wright Tremaine LLP — acting on behalf of the Media giants — argued that “the public’s right to know Bankman-Fried's guarantors outweighed their privacy and safety rights.” Media organizations looking to persuade the judge to unseal the identities of Bankman-Fried's guarantors include the Associated Press, Bloomberg, CNBC, Dow Jones, The Financial Times, Insider and the Washington Post. Cast your vote now! In making their case, the media’s lawyers used case precedent from Ghislaine Maxw...