A group of former FTX and Alameda Research employees have raised $17 million to develop Backpack, a new crypto exchange. With a Series A round valuing the startup at $120 million, Backpack aims to fill the void left by the collapse of previous industry giants. Led by experienced figures from FTX and Alameda Research, the project signals a new chapter in the crypto exchange landscape.
John W. Ratcliff’s recent Twitter posts sparked debate about Satoshi Nakamoto’s contributions to Bitcoin’s foundational technologies. Ratcliff argued that while Satoshi didn’t invent individual components like proof of work or elliptic key signatures, his true genius lay in integrating these technologies to create the innovative Bitcoin network.
Japan’s Ministry of Economy, Trade and Industry has approved a proposal allowing investment business limited liability partnerships (LPS) to include cryptocurrency assets in their acquired and held assets. This significant shift enables Japanese venture capital (VC) firms to invest directly in projects issuing only cryptocurrencies, reducing barriers for Web3 startups. The amendment, expected to be submitted to parliament, signals a progressive approach to fostering innovation and investment in the cryptocurrency space.
In a recent post on X, Ethereum co-founder Vitalik Buterin expressed his enthusiasm for the potential application of artificial intelligence (AI) in enhancing the formal verification of code and the detection of bugs. Buterin highlighted the critical importance of addressing technical risks within the Ethereum ecosystem, particularly the prevalence of bugs in code, which he identified as one of the network’s most significant challenges. The prospect of leveraging AI to assist in the formal verification process represents a promising development for Ethereum and the broader blockchain community.
The fledgling ERC-404 sector faces a harsh reality check as its market capitalization drops a staggering 29% in the last 24 hours,” according to data from Coingecko. Leading projects within the experimental Ethereum standard bear the brunt of the sell-off, with notable falls including PANDORA (down over 15%), DEFROGS (down over 22%), and RUG (down over 38%).
Hedera Hashgraph has secured a landmark $250 million partnership with the Saudi Ministry of Investment, signaling a significant boost for technological development in Saudi Arabia. The collaboration aims to advance blockchain, artificial intelligence, and other deep technologies through the establishment of the DeepTech Venture Studio.
Treasury Secretary Yellen warns Congress of looming crypto dangers like stablecoin runs, platform vulnerabilities, and price volatility, urging collaborative efforts with Congress to establish robust regulations for consumer protection, financial stability, and responsible innovation in the crypto space.
The 2023 Bitdeer Mining Awards recognized outstanding achievements in the cryptocurrency mining industry, highlighting both technological advancements and cost-effectiveness. Technological Breakthrough: The Bitmain S21 series…
In a bid to rebuild trust and repay creditors, Celsius, the embattled crypto lender, is making waves with a two-pronged approach: distributing over $3 billion and forging a novel Bitcoin mining venture, Ionic Digital, co-owned by creditors and miners. While these moves offer hope, questions linger about long-term strategy, asset sales, and potential tax implications for creditors.
Jupiter co-founder Meow responded to community concerns regarding the large-scale public sale of tokens by the team on their listing day. He clarified several key points: