The developers of Arbitrum 's Layer 2 (L2) scaling solution have begun testing the Nitro update, designed to reduce transaction fees and increase throughput. If the tests on the Rinkeby testnet are successful, the project team will deploy the update to the leading network within two weeks. The WebAssembly Transaction Authentication System (WASM) is at the heart of Nitro....
The efforts of the EU authorities in regulating cryptocurrencies may lead to the imposition of a European model, which will damage the ability of US supervisors to create their own rules effectively. This opinion was expressed by the former chairman of the CFTC, Christopher Giancarlo, who writes CoinDesk. The former official referred to the MiCA Cryptocurrency Regulation Bill, which...
The Fed and FDIC sent a letter to Voyager Digital demanding they provide a complete list of all statements regarding state insurance of crypto broker deposits within 10 days. Seth Rosebrockfrom and Jason Gonzalez, assistant legal counsels for the two agencies, also urged management to submit a written confirmation of compliance with the regulator's requirements within two business...
Trung Nguyen, CEO of Sky Mavis, called any speculation that the Axie Infinity team was involved in an insider trading scheme immediately after the Ronin sidechain hack “baseless and false.” Earlier, a blogger under the nickname Asobs published a video in which he accused Nguyen and other founders of the company of insider trading in AXS...
The crypto-lending platform Celsius Network suffered a data breach that occurred due to the compromise of the Customer.io email service. The company announced this in an email, writes The Block . Celsius does not believe that the leak carries high risks for users. At the same time, the company noted that the incident is a "serious violation of relations between...
Venture firm Variant has raised $450 million in two new funds focused on the Web3 and decentralized finance sectors, reports The Block. The company has raised $300 million for an "opportunity fund" and $150 million to invest in industry start-ups. Variant closed its first fund in 2020. In 2021, together with Atelier Ventures, the company launched a second $110 million fund. The Variant portfolio includes...
It became known that the cost of the Nirvana (ANA) stablecoin based on the Solana network fell by 99% in a day. This happened after hackers attacked the protocol and made an exploit. Users lost about $3.5 million, according to preliminary estimates. Social media users have confirmed that Nirvana's decentralized financial yield protocol fell victim to cybercriminals on...
A bipartisan bill to establish oversight of stablecoins will not be submitted until the August recess of the US Congress, admitted Maxine Waters, head of the House Financial Services Committee. "While Deputy [Patrick McHenry], Treasury Secretary [Janet] Yellen and I have made significant progress towards an agreement on legislation, we unfortunately have not yet reached it, and therefore...
The US Senate passed the Chips and Science Act (CHIP-plus), which funds and stimulates US semiconductor manufacturing to compete with China. Writes about it CNBC . According to the project, $52 billion will be allocated from the federal budget to finance American companies producing semiconductors. The document also provides for additional tax incentives and subsidies to encourage private investment in...
The cryptocurrency market's capitalization will fall below the recent local minimum as the industry has not yet “cleansed itself” of problem participants. This was stated by chief investment officer of Guggenheim Partners Scott Minerd in a conversation with Bloomberg. “I think [the market] will continue to deflate. I think we are in for something akin to the collapse...
