Author: Lora

Coinbase’s Base, a Layer 2 Ethereum network, has surpassed the $2 billion milestone in total value locked (TVL), making it the second-largest optimistic rollup by deposits, trailing only Arbitrum. According to data from DeFiLlama, Base’s TVL has reached $2.08 billion, a remarkable increase from approximately $430 million at the start of the year, representing a staggering 370% growth year-to-date. Launched in August 2023, Base operates as an optimistic rollup, processing transactions off the Ethereum mainnet while periodically posting data on-chain. This method alleviates congestion on Ethereum, improving transaction throughput and efficiency. Growth Driven by Aerodrome and Uniswap The primary driver…

On Monday evening, hackers took control of the official @OpenAINewsroom account on X (formerly Twitter) to promote a cryptocurrency scam. Around 7:00 PM ET, the account, which typically shares updates with nearly 54,000 followers, tweeted about an “$OPENAI” token before the post was deleted. The fraudulent tweet claimed, “We’re very happy to announce $OPENAI: the token bridging the gap between AI and blockchain technology. All OpenAI users are eligible to claim a piece of $OPENAI’s initial supply. Holding $OPENAI will grant access to all of our future beta programs.” The tweet included a link to a fake OpenAI website. Security…

Decentralized trading platform Jupiter is set to acquire SolanaFM, a blockchain explorer, to expand its infrastructure and capabilities. Announced on September 20 via X, SolanaFM stated that it will focus on significantly enhancing data and infrastructure for Jupiter, while continuing normal operations. Founded in 2021, SolanaFM offers detailed insights into Solana’s network data, including transaction histories, smart contracts, and token information. The explorer secured $4.5 million in a seed funding round in 2022, led by SBI Group’s Digital Asset Opportunity Fund, and received additional investments from Etherscan and Coinhako in December 2021. In conjunction with the acquisition, Jupiter also introduced…

Arthur Hayes, co-founder of BitMEX and CIO at Maelstrom, shared his insights on the macroeconomic landscape and its implications for crypto markets during his keynote speech at the TOKEN2049 conference in Singapore. Titled “Thoughts on Macroeconomics Current Events,” Hayes provided a nuanced perspective on the financial future, predicting a significant market collapse linked to Federal Reserve actions, followed by the emergence of a new bull market. With the Fed set to cut interest rates for the first time since the COVID-19 pandemic, global investors are bracing for the consequences. Hayes criticized the decision, particularly in the context of high government…

Janus Henderson, a global asset manager, is venturing into the realm of securities tokenization, a move that could broaden investment opportunities for a wider range of investors. According to a Financial Times report on Friday, Janus Henderson will oversee the $11 million Anemoy Liquid Treasury Fund. This fund focuses on short-term U.S. Treasury bills and leverages blockchain technology to tokenize its shares. This approach facilitates fractional ownership and enables digital trading, enhancing transparency and efficiency. Blockchain technology offers an immutable ledger for recording each token’s ownership, transfers, and transactions. It enhances security, reduces the risk of fraud, and streamlines processes…

The Russian Central Bank has announced plans to monitor the digital assets market in real time. This initiative aims to enhance oversight of digital financial assets (DFAs) and improve investor confidence in the sector. Real-Time Monitoring for Enhanced Oversight According to Vedemosti, the Central Bank’s new approach will focus on real-time data collection from DFA platforms. The move is intended to “reduce the regulatory burden” on operators while boosting investor trust. DFA Sector Support and Regulatory Measures Recently, Russian banks and businesses have increasingly engaged with the DFA sector, offering various blockchain-based products tied to real estate and other tangible…

Monochrome Asset Management has formally applied to list its new Ethereum exchange-traded fund (ETF) on Cboe Australia. The application, announced in a press release on Thursday, is expected to be reviewed by the end of the month. The proposed Ethereum ETF, set to trade under the ticker IETH, aims to offer retail investors a regulated way to gain exposure to Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalization. If approved, the IETH fund will enhance Australia’s growing selection of regulated crypto investment products. IETH Fund to Complement Existing Crypto ETFs The IETH ETF will follow Monochrome’s earlier success with…

Japan’s Financial Services Agency (FSA) has unveiled a plan to overhaul the nation’s tax code, which could result in a reduction of the tax rate on cryptocurrency assets starting in 2025. The proposed reforms, detailed in an August 30 request, aim to align the taxation of crypto assets more closely with that of traditional financial investments. The FSA’s proposal suggests treating cryptocurrencies as financial assets suitable for public investment. “Regarding the tax treatment of cryptocurrency transactions, cryptocurrency should be recognized as a financial asset that the public can invest in,” the FSA stated. “It is necessary to evaluate this issue…

Elon Musk and his company Tesla have successfully defended against a federal lawsuit alleging Dogecoin price manipulation, resulting in a significant win for both parties. The ruling was issued by U.S. District Judge Alvin Hellerstein in Manhattan on August 29. The lawsuit, filed in June 2022, accused Musk and Tesla of using Musk’s public influence, including his Twitter activity and appearances on “Saturday Night Live,” to manipulate Dogecoin’s price for personal gain. The plaintiffs alleged that Musk sold Dogecoin during periods when his public actions, like changing Twitter’s logo to the Dogecoin Shiba Inu, were expected to boost its value,…

On Wednesday, Core Scientific announced a significant strategic move aimed at bolstering its financial position and supporting future expansion. The company has repaid $267 million in debt, drastically cutting its interest rate from about 12.5% to 3%. Alongside this debt reduction, Core Scientific has secured a substantial $172.8 million cash infusion. Debt Restructuring and Cash Infusion The company leveraged proceeds from its convertible senior notes offering, which was announced on August 13, 2024, and closed on August 19, 2024. This refinancing effort not only alleviated Core Scientific’s interest burden but also provided $172.8 million in net proceeds. After accounting for…