NFT marketplace Blur’s new lending protocol Blend has surpassed all of its peers in loan volume over the last week.
Daily Bits…✍️✍️✍️
The Aragon Association, in response to an alleged 51% attack by activist investors, scrapped its plans to transition to a decentralized autonomous organization, which would have allowed ANT token holders to vote on matters including the use of a $200 million treasury.
Su Zhu, cofounder of the now-defunct Three Arrows Capital, got a restraining order from a Singapore court against Arthur Hayes, cofounder of BitMEX, over alleged harassment regarding a claimed $6 million debt following the fund's collapse last year.
Digital Currency Group (DCG) is seeking to refinance outstanding loans with its bankrupt lending division, Genesis, and raise additional capital for growth, as it manages substantial debt obligations due this month.
Former Coinbase product manager, Ishan Wahi, has been sentenced to two years in prison after pleading guilty to insider trading charges, providing information about upcoming crypto listings, leading to profits of over $1 million.
Alameda Research received approximately $57 million in USDT and $300,000 in MSAK tokens from crypto exchange OKX, bringing its total held crypto value to over $240 million.
The U.S. SEC's recent proposal to mandate investment advisers to store client's crypto assets with "qualified custodians" has drawn criticism from various entities including JPMorgan, crypto firms, and the Small Business Administration (SBA).
EY, acting as trustee for bankrupt Canadian crypto exchange QuadrigaCX, announced the initiation of interim distribution for some users, with the claim filing procedure to be released soon.
On Twitter, US President Joe Biden suggested that Congress should eliminate tax loopholes benefitting wealthy cryptocurrency investors, contrasting his proposal with the budget cuts suggested by Republicans, which include reductions to food safety inspections.
Basketball legend Shaquille O'Neal called for a dismissal of a lawsuit against FTX promoters, claiming that he was never officially served, with process servers merely throwing papers at his moving car.
Ethereum validators who withdrew their crypto to Coinbase wallets following the network's Shapella upgrade found their funds stuck, as Coinbase's systems do not currently support deposits from external validators.
PayPal is currently safeguarding nearly $1 billion in crypto, predominantly in Bitcoin and Ether, representing a $339 million increase from the end of 2022, likely due to the rising prices of these digital assets.
Today in Crypto Adoption...
Blockchain technology firm, Digital Asset, is set to launch a privacy-enabled blockchain network, Canton Network with backing from significant players such as Goldman Sachs, Moody’s, DRW, and Microsoft.
The $$$ Corner…
Crypto-focused media company Blockworks secured $12 million in a funding round led by private equity firm 10T Holdings, valuing the company at $135 million.
NFT collection Pudgy Penguins garnered $9 million in seed funding, led by 1kx, to expand its intellectual property and team following a change in leadership.
Galaxy Digital, a crypto-focused financial services firm, recorded a net income of $134 million in Q1 2023, a significant turnaround from net losses experienced in the same period the previous year and Q4 2022, bolstered by the rebounding crypto market.
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