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Revolut, a fintech giant known for its crypto-friendly services, is reportedly working on launching its own stablecoin, aiming to expand its cryptocurrency offerings with a compliance-focused approach. This move would position Revolut alongside other stablecoin issuers like PayPal, Ripple, and BitGo as the sector continues to grow.
The SEC has charged Rari Capital, a DeFi platform, and its founders with misleading investors and engaging in unregistered broker activity, alleging that the platform falsely promoted features of its crypto investment products and conducted unregistered securities offerings. Rari Capital and its successors settled the charges, agreeing to penalties and legal restrictions without admitting or denying the allegations.
Market maker and trading firm Wintermute has created a betting market focusing solely on the US election. It uses Chaos Labs' Edge Proof Oracles, which use LLMs to ensure data integrity, authenticity, and unbiased determination. Current prediction markets have issues with human-driven systems in ambiguous situations, like the 2024 Venezuela Election, where both sides claimed victory with data to support it.
Pipe Network, built by Permissionless Labs, aims to be the first permissionless content delivery network (CDN) built on Solana. The decentralized CDN (dCDN) concept promises lower latency, increased redundancy, and reduced costs by leveraging underutilized upload bandwidth. Pipe aims to build the world's fastest and largest CDN, with 3ms + speed of light response times. Its first public demo will be released next week at Solana's Breakpoint conference.
Ethereum is currently facing challenges like regulatory uncertainty, competition from Solana, and declining revenues due to Layer 2 growth. However, despite these issues, Ethereum remains dominant in key sectors like DeFi, stablecoins, and corporate adoption, making it a contrarian bet with potential upside.
Bitcoin's development has moved through significant technological and cultural evolutions, increasing its scalability and functionality through upgrades like SegWit and Taproot, which have facilitated innovations such as inscriptions and tokens. It now has the ability to support complex transactions and create tokens and other programmable financial instruments directly on its blockchain.
This post presents numerous arguments about data availability. One view is that it is a commodity with no network effects since rollups don't benefit from other rollups sharing the same DA layer. Others argue that data availability sampling and plans for interoperability within DA layers like Avail, plus sequencing support, create strong network effects. The author argues that neither is true, as security trade-offs distinguish between providers, but a DA layer has little network effects and can be overburdened if there's a global throughput limit.
Base successfully handled over 4.5 million transactions this past Saturday. The L2 has been dominating over the past several months. Its popularity can be attributed to Coinbase's reputation and exchange integration, its focus on being consumer-ready, and the plethora of apps on the protocol.
This new prediction market from Smallbrain Games allows users to bet on the title of tomorrow's New York Time's headline and be rewarded based on semantic similarity to the actual title as judged by AI.
Tether's Q2 2024 audit shows it has ~$118B in reserves, $5.3B over its liabilities, ranking it as the 18th largest holder of U.S.
USDS and SKY are now active on Ethereum, with DeFi capabilities through the decentralized Sky Protocol.
Pocket Universe has detected a frontend hack on Etha Lab's official website that requests phishing transactions to steal tokens.