• Sep 04, 2024

Ethereum Restaking Protocol EigenLayer Handing Out 86 Million More Tokens

The Eigen Foundation, the organization behind Ethereum restaking protocol EigenLayer, is launching another airdrop rewards wave.  In a Thursday post, the Foundation said that a total of approximately 86 million tokens will be released from September 17 in its “stakedrop” and go to users and contributors who have actively helped the project. The “Season 2 stakedrop” will dish out 70 million tokens to those who staked and operated nodes. Ecosystem partners and the EigenLayer community will receive...

• Sep 04, 2024

Bitcoin Liquid Staking Comes to Zest Protocol on Stacks With BTCz

With staking becoming a reality for Bitcoin's own layer-1, you’ll just as soon be able to trade liquid staking tokens on Bitcoin layer-2 networks. Zest Protocol, a Bitcoin decentralized finance (DeFi) service available on Stacks, announced the launch of BTCz on Thursday—a BTC equivalent that will earn yield for holders through the fast-rising Babylon staking system. “The BTC yield comes from Babylon staking or other BTC staking protocols that might launch in the future,” said Tycho Onnasch, co-f...

• Sep 04, 2024

Pump.fun Retakes Lead Over Tron's SunPump as Justin Sun Pushes 'Celebrity Season'

Solana-based meme coin factory Pump.fun has retaken a key statistical lead over SunPump, nearly two weeks after the Tron token launchpad flipped Pump.fun in daily created coins.  On August 21, SunPump created 1,658 more tokens than Pump.fun over a 24 hour period. But this token creation dominance was short-lived. On Wednesday, according to Dune data, SunPump created just 1,258 tokens, falling 83% from 7,531 tokens created just two weeks prior. This decline can also be seen in the Tron launchpad...

• Sep 04, 2024

Startup Supercharges ‘AI Ambassadors,’ 3D Worlds With Google Cloud

Connecticut-based 3D and virtual reality startup Infinite Reality aims to leverage the computing and generative AI power of Google Cloud through a multi-year deal, the company announced on Thursday. With the new arrangement, which includes incorporating Google’s Gemini AI, Infinite Reality said customers and brands will be able to create AI-powered 3D virtual worlds and immersive environments for websites and apps. “Our partnership with Google is laying the foundation for massive adoption of imm...

• Sep 04, 2024

Fed Issues Cease and Desist Order to United Texas Bank Over Crypto-Related Concerns

The United States Federal Reserve has issued a cease and desist order to United Texas Bank, citing deficiencies in the bank's risk management systems, particularly in its dealings with crypto clients. The order, dated September 4, 2024, follows an examination of United Texas Bank conducted by the Federal Reserve in May. The examination revealed issues within the bank's corporate governance structure and identified oversights by the board of directors and senior management. The Federal Reserve id...

• Sep 04, 2024

Bitcoin Slips Back Below $57,000 as Short-Term Holders Threaten Volatility

Bitcoin failed to hold levels above $58,000 Thursday morning, slipping to $56,700 and trading flat on the day. Per data from CoinGecko, the price of Bitcoin is currently $56,794, up 0.6% in the past 24 hours and down 4.7% on the week. Even as Bitcoin dropped to a little below 20% under its all time high, a new analysis has revealed a growing growing risk factor in the crypto market—short-term holders who are currently underwater on their investments could potentially trigger significant market...

• Sep 04, 2024

Robinhood Settles With California for $3.9 Million Over Crypto Withdrawal Violations

Robinhood’s crypto arm has agreed to pay $3.9 million after being accused of preventing customers from withdrawing digital assets from their accounts over a four-year period. On Wednesday, the California Department of Justice said it marked the first public action by the regulator against a crypto firm as it continues to exercise its authority under the banner of “protecting consumers.” Findings from the California Department of Justice's investigation revealed Robinhood Crypto LLC allowed users...

• Sep 04, 2024

Circle VP Warns US Risks Falling Behind in Stablecoin Regulation Amid Political Stalemate

The U.S. risks lagging in stablecoin regulation at the federal level amid competing jurisdictions worldwide, even as the Republican and Democrat parties work to establish clearer rules for the sector.  The concern was highlighted by Circle’s Vice President, Yam Ki Chan, in an interview with Decrypt during Korea Blockchain Week on Wednesday, where he discussed global regulatory shifts. “Major jurisdictions around the world have set a minimum baseline for what a well-regulated stablecoin looks lik...

• Sep 04, 2024

Core Blockchain Launches LstBTC for Bitcoin Liquid Staking

The Core Foundation on Thursday unveiled LstBTC, an ERC-20 liquid staking token pegged 1:1 with Bitcoin (BTC), aiming to solve a longstanding dilemma for Bitcoin holders: the choice between earning staking rewards and maintaining liquidity. This allows BTC holders to earn daily rewards in CORE tokens while keeping their Bitcoin liquid for use in decentralized finance (DeFi) applications at the same time. Speaking with Decrypt, Rich Rines—an initial contributor to Core DAO—said that Bitcoin makes...

• Sep 04, 2024

Australia Introduces Non-Legally Binding AI Framework to Help Shape Future Policy

Australia has introduced voluntary AI safety standards aimed at promoting the ethical and responsible use of artificial intelligence, featuring ten key principles that address concerns around AI implementation.  The guidelines, released by the Australian government late Wednesday, emphasize risk management, transparency, human oversight, and fairness to ensure AI systems operate safely and equitably. While not legally binding, the country’s standards are modeled on international frameworks, part...