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Polygon's zero-knowledge rollup, zkEVM, has reached new highs across several metrics five months after its mainnet launch in March 2023. However, competition from other emerging zk-rollups has been stiff. According to Polygon's team, zkEVM has seen impressive organic growth. Its total value locked (TVL) recently hit
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Cryptocurrency exchange Coinbase has started a new initiative called the "Stand with Crypto Alliance" to encourage crypto supporters to directly engage with U.S. lawmakers. The campaign has already attracted over 54,000 sign-ups since launching in mid-August. The goal is to foster communication between crypto advocates and
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The recent cryptocurrency market crash has dealt a serious blow to Cardano (ADA), with holder profitability dropping to the lowest levels on record. 91% of ADA Holders are in the Red According to data from on-chain analytics firm IntoTheBlock, 91% of Cardano holders are currently underwater on their positions as
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The US Securities and Exchange Commission (SEC) has filed a new motion seeking certification for an interlocutory appeal of two critical rulings in its ongoing legal battle against Ripple Labs. crypto-industry">Appeal Could Impact Wider Crypto Industry The SEC is requesting permission to appealJudge Torres' findings that
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The decentralized stablecoin sector continues to experience strong growth, with two leading protocols already bumping up against their debt ceilings less than two months after launching. Spark Protocol Users Max Out $200M Limit Spark Protocol, a lending market forked from Aave by MakerDAO, has seen its users borrow the maximum
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OpenSea, the largest NFT marketplace, announced plans to disable its on-chain tool for enforcing creator royalties across platforms. Known as Operator Filter, the code snippet was designed to restrict NFT sales to only marketplaces enforcing fees. But adoption issues and creator concerns led OpenSea to decide shutting it down starting
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The Mantle decentralized autonomous organization (DAO) community is engaged in heated debate regarding whether to allow the collapsed FTX exchange to convert its BIT tokens worth $43 million into Mantle's native MNT tokens. This conversion is part of Mantle's broader token migration process unifying the project&
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Aerospace firm SpaceX reportedly wrote down the value of its Bitcoin holdings by $373 million in 2021 and 2022, suggesting the company may have sold all or most of its cryptocurrency assets. According to an August 17th report in The Wall Street Journal, SpaceX recorded significant losses on its balance
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The Federal Reserve has announced an enforcement action against Farmington State Bank, a Washington-based institution tied to the collapsed cryptocurrency exchange FTX. The Fed says Farmington improperly changed its business model in 2022 to pursue digital asset activities without proper approval. This led to the bank receiving around $11.5
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Tether, the company behind the popular USDT stablecoin, announced this week it will stop issuing new tokens on the Bitcoin blockchain. The move effectively ends one of the first ever stablecoins created - Bitcoin Omni Layer Tether - launched all the way back in 2014. While existing USDT tokens on
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Helio Lending, an Australian cryptocurrency lending company, has been sentenced to a good behavior bond after pleading guilty to falsely claiming it had an official credit license in 2019. The Melbourne-based startup will avoid a criminal conviction if it adheres to the bond's conditions over the next year.
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Elemental Cognition, an AI startup founded by David Ferrucci, the leader of the team that created IBM's Watson, has raised nearly $60 million in new funding as investors seek the "next ChatGPT." The New York-based startup provides natural language AI solutions for enterprises, including chatbots tailored
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Tether, the company behind the popular USDT stablecoin, announced this week that it will stop issuing new tokens on the Bitcoin blockchain through the Omni Layer protocol. While existing USDT tokens on Bitcoin will continue to be supported for at least another year, this move signals the end of an
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A federal judge has ruled in favor of the US Department of the Treasury in a lawsuit challenging its sanctioning of privacy protocol Tornado Cash. Judge Robert Pitman sided with the government by granting its motion for summary judgment while denying a similar motion filed by the plaintiffs. The lawsuit
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Cypher Protocol, a decentralized futures exchange on the Solana blockchain, has successfully frozen over $600,000 worth of cryptocurrency that was drained from the protocol during a code exploit on August 7th. The freeze comes after Cypher enlisted the help of independent blockchain investigators and law enforcement to track and
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The decentralized autonomous organization (DAO) behind the Mantle protocol has paused its ongoing token migration process to prevent collapsed crypto exchange FTX and its sister trading firm Alameda Research from converting their BIT tokens worth $43 million to Mantle's native MNT tokens. The issue arose after a Mantle