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Fabric Cryptography has raised $33 million in a recent funding round. The New York-based company is focused on creating a new kind of chip that could change the way cryptography is handled. This chip, also called a Verifiable Processing Unit (VPU), is designed to make cryptographic tasks faster and more secure. Quick Take: The funding
Afroz Ahmad
Major cryptocurrency firms, including Coinbase, Gemini, and Crypto.com, have formed strong opposition to a recent proposal from the Commodity Futures Trading Commission (CFTC). The proposal, which could effectively ban prediction markets, has sparked concerns within the crypto community. Quick Take: The CFTC’s proposal aims to impose stricter regulations on prediction markets and platforms where users
Afroz Ahmad
In July 2024, AI decentralized applications (dapps) took the lead in the Web3 space. These AI dapps now account for 28% of all dapp activity. They have now surpassed traditional sectors like gaming, which fell to 26%. Quick Take: Daily Unique Active Wallets (dUAW) saw an increase of 78% from the previous month and reached
Afroz Ahmad
Donald Trump has unveiled a bold plan to establish a Bitcoin Strategic Reserve if elected President in the 2024 election. He claims that this proposal will secure America’s financial future by embracing the growing influence of cryptocurrency. Quick Take During a recent speech at the Bitcoin Conference, Trump emphasized the importance of staying ahead in
Afroz Ahmad
Tether, the leading stablecoin issuer, has decided to stop minting its stablecoin on the EOS and Algorand blockchains. The announcement was made amid low user adoption as the primary reason for this strategic shift. Quick Take: Tether’s decision comes after a thorough evaluation of the demand and usage of USDT on various blockchain networks. Despite
Afroz Ahmad
Rapper 50 Cent’s hacked X account promoted a Solana-based meme coin over the weekend. The incident unfolded when followers noticed unusual tweets from the artist’s account. These tweets promoted the new cryptocurrency and encouraged users to invest in the meme coin for substantial returns. Quick Take Recap: The hack has sparked concerns about the security
Afroz Ahmad
Dapper Labs, the company behind NBA Top Shot, has reached a $4 million settlement in a class action lawsuit. The lawsuit was filed in 2021 and claimed that Top Shot NFTs were unregistered securities. Quick Take According to the court filing, the $4 million settlement will cover monetary relief for plaintiffs and legal fees. In
Afroz Ahmad
Coinbase, a renowned cryptocurrency exchange, has come forward with serious allegations against the U.S. Securities and Exchange Commission (SEC). According to Coinbase, the SEC intentionally undermines and destroys the cryptocurrency industry. Quick Take: This bold claim was made in response to the SEC’s increasing scrutiny and regulatory actions against various crypto firms. Coinbase has accused
Afroz Ahmad
Marathon Digital (MARA) experienced a significant boost in its market cap, soaring by nearly $800 million to reach $5.5 billion. The prominent Bitcoin mining company’s market cap surge came amid its recent inclusion in the S&P SmallCap 600 index. Quick Take: The index tracks companies with market caps between $1 billion and $6.7 billion that
Afroz Ahmad
The upcoming mobile basketball game, Rumble Kong League, has teamed up with the iconic sports drink brand, Gatorade. Announced on Monday, this partnership positions Gatorade as the official sports drink of the innovative Rumble Kong League. Quick Take: The game is set to debut on iOS and Android platforms this summer. The announcement was shared
Afroz Ahmad
A renowned name in artificial intelligence, OpenAI, and Worldcoin, a firm focused on cryptocurrency-based universal basic income and identity verification, are discussing a collaboration. Quick Take: This partnership could see OpenAI providing its AI technology to enhance Worldcoin’s ambitious projects. With Sam Altman at the helm of both companies, this move could bring together significant
Afroz Ahmad
Bitcoin (BTC) has outperformed Tesla stock for the first time since 2019 in percentage terms over the past five years. According to TradingView, Bitcoin’s price has escalated by an astonishing 1,180%, while Tesla’s stock has risen by 806% in these five years. Quick Take: This shifting trend highlights Bitcoin’s resilience and appeal as an investment.
Afroz Ahmad
Searches for ”Bitcoin Halving” on Google have reached extremely high levels. It indicates heightened public interest ahead of the upcoming event. According to Google Trends, the term has already hit a score of 45 and is projected to reach a perfect 100 by month’s end. Quick Take: The search for Bitcoin halving is expected to
Afroz Ahmad
Sam Bankman-Fried, the founder and former CEO of cryptocurrency exchange FTX, has been sentenced to 25 years in prison. The verdict was delivered by Judge Lewis Kaplan in the Southern District of New York. Quick Take: According to the Judge, FTX’s customers lost $8 billion, its investors lost $1.7 billion, and its lenders lost $1.3
Afroz Ahmad
Tether Operations Limited has unveiled a comprehensive plan to expand its AI division. At the heart of this initiative is a call to break free from the monopolistic grip of Big Tech over AI technologies. Quick Take: The stablecoin issuer aims to work towards a future where transparency, privacy, and open-source development are prioritized in
Afroz Ahmad
The total value locked (TVL) in Coinbase’s Base network has doubled within just 25 days. It has escalated from $1 billion to a remarkable $2.13 billion. This rapid growth has caught the attention of the crypto community and has also sparked a conversation about the potential influence of meme coins on the network’s future. Quick
Afroz Ahmad
The CryptoPunks collection has once again captured headlines in the non-fungible token (NFT) marketplace. In March, the collection witnessed a staggering $16 million sale of CryptoPunk #7804. This sale shows the significant investment potential of digital assets and also marks a historic moment for the NFT collection. Quick Take: CryptoPunk #7804 is distinguished by its
Afroz Ahmad
BlackRock has announced the launch of its new tokenized asset fund ’BUIDL’ on the Ethereum network. This move marks BlackRock’s entrance into tokenized funds on a public blockchain and also signals a significant leap toward modernizing access to investment opportunities. Quick Take: BlackRock has enlisted the expertise of Bank of New York Mellon and Securitize
Afroz Ahmad
Genesis Global Capital has reached a settlement with the United States Securities and Exchange Commission (SEC). The crypto firm has agreed to a $21 million fine over charges related to its Gemini Earn lending program. Quick Take This agreement marks the conclusion of legal disputes initiated by the SEC for selling unregistered securities through the
Afroz Ahmad
The cryptocurrency world is full of predictions and analyses as we inch closer to the next Bitcoin halving event scheduled for April. In a recent online event, Bitfinex CTO and Tether CEO Paolo Ardoino highlighted the complications of forecasting Bitcoin’s future pricing at this time. Quick Take: The event was a platform for Ardoino to
Afroz Ahmad
Cryptography company Zama has achieved a milestone by raising $73 million in its Series A funding round. This round was led by industry giants Multicoin Capital and Protocol Labs, with significant contributions from the co-founder of the Solana blockchain, Anatoly Yakovenko, and Metaplanet. Quick Take: The influx of capital is a vote of confidence in
Afroz Ahmad
On March 5, Bitcoin reached an all-time high (ATH) of over $69,000. However, the leading token experienced a rapid decline from this mark. This price movement captured the attention of investors and traders globally. It is a stark reminder of the volatile nature of the crypto market. Quick Take: After reaching its peak, Bitcoin’s price
Afroz Ahmad
The team behind the once-thriving Minecraft-based project, NFT Worlds, is charting a new crypto game, Hytopia. NFT Worlds’ business model underwent a significant setback last year when Minecraft creator Mojang Studios imposed a ban on non-fungible tokens (NFTs). Quick Take: The project has undergone a complete rebranding under the name Hychain Games. It is now
Afroz Ahmad
The cryptocurrency market witnessed a historic moment as Spot Bitcoin Exchange-Traded Funds (ETFs) hit a new all-time high with a staggering $676.8 million cumulative daily inflow. On February 28, BTC experienced this impressive influx and signaled a robust bullish trend. Quick Take: The iShares Bitcoin Trust led the charge with record-breaking daily inflows of $612.1
Afroz Ahmad
