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Transaction volumes on Optimism, a scaling solution for Ethereum, have dropped 70% following a major spike earlier. The daily transactions have declined to 238,000 after a peak of almost 800,000 transactions per day on Jan. 12, according to data from blockchain explorer Blockscan.
The fall in activity coincided with the end of an incentive program called Optimism Quest, which aimed to increase user engagement and educate users about the Optimism Layer 2 network.
More info: https://bit.ly/3wvjYbs
Decentralized crypto exchange Mango Markets sued its exploiter Avraham Eisenberg for $47 million in damages according to a United States District Court for the Southern District of New York filing on Wednesday.
More info: https://bit.ly/3wuI46k
Aave v3 on Ethereum will be launched with support for seven assets: wrapped bitcoin, wrapped ether, wrapped staked ether, USDC, DAI, link, and aave. These assets were proposed by DeFi risk manager Chaos Labs.
More info: https://bit.ly/3WGbh8Q
De Nederlandsche Bank (DNB), the Dutch central Bank, fined cryptocurrency exchange Coinbase 3.3 million euros ($3.6 million), due to non-compliance with local regulations for financial service providers, according to a Reuters report on Jan 26.
More info: https://bit.ly/3Hxzav6
This is the second chain Arkham Intelligence will add support for besides Ethereum, which it will do in the first quarter. Arkham said it chose Polygon for its second integration because of its partnerships with Disney, Starbucks and Stripe, as well as its large user base.
More info: https://bit.ly/3wxDDYA
Circle, the company behind the USDC stablecoin, has blamed the US Securities and Exchange Commission (SEC) for its failed plans to go public. According to a new report by FT, the regulatory agency failed to sign off on the $9 billion deal.
This comes a month after its CEO Jeremy Allaire revealed the termination of the firm’s agreement with special-purpose acquisition company Concord Acquisition Corp., thereby withdrawing from its plan to go public. The exec then said that Circle did not complete the SEC’s “qualification in time.”
More info: https://bit.ly/3JetxTJ
Governance members of Dai stablecoin issuer MakerDAO have approved a preliminary proposal to deposit $100 million worth of the USDC stablecoin from its reserves into a special investment account known as a "vault" managed by Yearn Finance. The vault has a limit of $100 million and is expected to earn an estimated yield of 2% per year for MakerDAO, worth $2 million.
More info: https://bit.ly/3DbWrA4
Gemba, a software developer providing virtual reality training to corporates, raised $18 million in a Series A round led by Parkway Venture Capital. The deal values the business at $60 million.
More info: https://bit.ly/3XDxOod
In Pantera’s latest newsletter, chief investment officer (CIO) Joey Krug says that decentralized finance (DeFi) will act as the foundation for the next bull market. The CIO, who helps manage the $6.9 billion fund, says that DeFi managed to stay completely intact during 2022, even if the top protocols saw lower prices.
More info: https://bit.ly/3iWsLAo
QuickNode, an end-to-end development platform that helps builders bring their Web3 ideas to life, announced today that it has raised $60 million in new funding to accelerate its vision.
The Series B round, which gives the startup a valuation of $800 million, bucks the trend of shrinking sums of money flowing into Web3 firms amid the current crypto bear market.
More info: https://bit.ly/3kGDsap
Christian Moss, developer and co-founder at Zebedee (ZBD), a Bitcoin-powered platform that allows developers to put money in their games and gamers to earn money by playing them, has upgraded his original Nintendo to do just this, as he demonstrated in a video posted on January 23. New options become available to earn digital assets, including generating Bitcoin (BTC) by playing video games.
More info: https://bit.ly/3H7qBWi
Ethereum co-founder Vitalik Buterin has proposed a "stealth address system" to improve transactional privacy on the Ethereum blockchain. In a research blog, Buterin wrote that privacy is "one of the largest remaining challenges in the Ethereum ecosystem."
The stealth address system is based on a mechanism that would allow any Ethereum wallet to generate cryptographically obfuscated public addresses called "stealth addresses'' in order to receive funds in a private manner and access them using a special code called a "spending key."
More info: https://bit.ly/3WrWO0h
Layer 1 blockchain Aptos’ APT tokens is up 250% in just 14 days even as the broader crypto market grapples with bankruptcies, lawsuits and a decline in overall sentiment.
The tokens command a market capitalization of over $2.3 billion on Monday, making Aptos the 30th-most valued network based on current token supply, and have a fully diluted valuation of $14 billion based on their total supply.
More info: https://bit.ly/3GSgrJe
The first hearing in Genesis Capital’s bankruptcy case will be held on Jan. 23 at 2:00 pm Eastern Time, according to court filings. Judge Sean H. Lane of the United States Bankruptcy Court for the Southern District of New York will hear the case.
More info: https://bit.ly/3D61JgF
Layer 1 blockchain Fantom has launched a decentralized funding mechanism aimed at financing blockchain projects through a community-driven governance process.
Known as the "ecosystem vault," the mechanism provides an opportunity for projects to secure funding in their efforts to build dApps on Fantom, an official blog post explained. It provides an effective way in which developers can obtain capital without relying on intermediaries or external sources of finance.
More info: https://bit.ly/3D29ILK
BitGo has announced the rollout of its polygon wallet and custody services for native MATIC token holders. BitGo users will now be able to securely stake their ERC-20 MATIC tokens on the platform and earn rewards.
More info: https://bit.ly/3QQ2EYg
In his first public interview since taking over as chief executive of the bankrupt crypto exchange FTX, John J. Ray III, said he is looking into the possibility of reviving the exchange as he works tirelessly to return money to the company’s customers and creditors. Mr. Ray is probably the person best suited to recovering funds as he is a veteran of restructuring troubled companies, most famously Enron Corp, where he successfully returned billions of dollars to the company’s creditors.
More info: https://bit.ly/3J6s9Tc
Genesis Trading transferred 75k Ethereum (ETH) worth $113.7 million and 4 million USDT from its OTC Desk to crypto exchanges Coinbase, Bitstamp, and Kraken. 50k ETH was transferred to Coinbase, 20k ETH to Bitstamp, and 5k ETH and 4 million USDT to Kraken.
In addition, it transferred 36 million USDC to new address 0x81b3…543. The large ETH transfers were also noted by the Whale Alert platform.
According to Nansen, Genesis’ largest CEX transactions in the last 30 days include $51.9M USDC net deposits to Coinbase, $43.7M USDT net withdrawals from Kraken $28.7M, ETH net deposits to Bitstamp, $19M USDT net withdrawals from OKX, and $10.8M USDT and $7M USDC withdrawals from Binance.
More info: https://bit.ly/3kx81Q9