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Hack VC has secured $150 million in funding for a web3-focused fund. The firm was intending to raise less, but the round ended up being oversubscribed, reflecting shifting sentiment amongst crypto investors. Among other things, Hack VC aims to invest in tokenized real-world assets and modular infrastructure. Other firms, like Lightspeed, Faction, and RW3 Ventures have also raised impressive funds.
Texas-based crypto firm Lejilex and lobby group Crypto Freedom Alliance of Texas have sued the SEC, accusing it of overstepping its authority in regulating digital assets. They contend that the SEC lacks clear jurisdiction over the crypto industry and have asked the court to recognize that digital assets on exchanges not be considered securities. The entities also seek to prevent the SEC from suing its members for listing pre-existing tokens.
The Modular Liquidity Layer, an AMM on Dymension, has launched. It was developed as a settlement and liquidity layer aimed to centralize liquidity for easy access to modular assets and enable smooth routing within the network. It is laying the groundwork for the many RollApps that will launch on Dymension. RollApps will be able to leverage the AMM, making it a modular ecosystem launchpad. DYM will be fundamental for every pair in this liquidity layer.
Cross-chain communication platform Wormhole will use AMD's enterprise-grade FPGA hardware accelerator chips to facilitate secure cross-chain messaging using zero-knowledge proofs. Aimed at fortifying "corridors" between blockchains, the project is also developing secure cross-chain transfer "light client" implementations. AMD will contribute both the chips and its hardware acceleration expertise to increase power for proof generation and verification across networks.
MyShell, an AI creators' platform, has launched a Patron Badge system that allows its AI agents and apps to become investable assets. The system involves users buying into an agent or app and receiving shares of the profits generated from user interactions. The innovative system is designed to not only support the creator economy but also fuel the platform's growth. This move represents MyShell's long-term vision to build a robust ecosystem around AI models.
PhotoFinish is a Virtual Horse Racing game that has been gaining steam lately. It has officially partnered with NBCsports and Churchill Downs. Players can get involved in a number of ways: racing, horse sales, breeding, track ownership, and wagering. This thread provides a brief overview of how you can take part in each of these activities and some examples of how much players have earned in the game recently.
Yuga Labs' co-founder is reassuming his role as CEO, prioritizing a focus on crypto natives. BAYC is transitioning to a detachable Yuga subsidiary, BAYC LLC, to improve its focus and agility. Otherside, a community platform, is now aiming to become the default space for community engagement. Yuga’s gaming strategy will aim for user-friendly and crypto-native mechanics.
The NIL Foundation is making strides in scaling Ethereum, focusing on zkSharding and proof markets. This thread outlines the key benefits of using NIL's zkRollups, including nearly 60k TPS scalability, security, liquidity, and enhanced functionality with Ethereum's staking mechanism. The system essentially works on zkLLVM, a Placeholder Proof System, Crypto3, and a Decentralized proof market.
Beam is now live on Base, enabling instant bank transfers of USDC or ETH from the Base network via Coinbase Wallet or others and simplifying crypto cashouts without needing cross-chain bridges or exchanges.
Tom Lee of Fundstrat predicts that Bitcoin could hit $150,000 in 2024, driven by new ETFs, the halving event, and the anticipated easing of monetary policy.
Circle discontinued USDC support on Tron earlier this week due to issues with compliance and risk management amidst allegations of Tron's involvement in illicit activities.
Montenegro's High Court rejected a request to extradite Terraform Labs' co-founder Do Kwon to South Korea, opting instead for his extradition to the US to face fraud charges.