Month: August 2022

ReadON Completes $2M Seed Round to Build a Decentralized Content Distribution Platform โ€“ Press release Bitcoin News

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press release PRESS RELEASE. ReadON (readon.me), a company that aims to provide users with a brand-new content consumption experience by utilizing blockchain, completed its seed investment round of $2M led by SevenX Ventures. Other investors included HashKey Capital, Foresight Ventures, Sky9 Capital, ArkStream Capital, Puzzle Ventures, CyberConnect, M23 Fund, Smrti Lab and individual investors. The seed funding will be used to develop a ReadON mobile application and a decentralized recommendation system. Neo Y., Cofounder and CEO of ReadON, is a serial entrepreneur who founded a games and applications company that…

88% of Nomad Bridge exploiters were ‘copycats’ โ€” Report

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Close to 90% of addresses taking part in the $186 million Nomad Bridge hack last week have been identified as โ€œcopycats,โ€ making off with a total of $88 million worth of tokens on Aug. 1, a new report has revealed. In an Aug. 10 Coinbase blog, authored by Peter Kacherginsky, Coinbase’s principal blockchain threat intelligence researcher, and Heidi Wilder, a senior associate of the special investigations team, the pair confirmed what many had suspected during the bridge hack on Aug. 1 โ€” that once the initial hackers figured out how…

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Landfill Gas Mitigation Firm Vespene Energy Secures $4.3M to Bolster Gas-to-Bitcoin Solutions โ€“ Bitcoin News

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On August 9, a firm that uses landfill methane to fuel bitcoin miners, Vespene Energy, announced the company has raised $4.3 million in a funding round led by Polychain Capital. Vespene aims to use the funds for its pilot in California by using landfill methane to mine bitcoin and โ€œmitigate a major source of greenhouse gas emissions.โ€ Vespene Energy Raises $4.3M in Funding Round Led by Polychain Capital, Firm Aims to Give Landfill Owners the Ability to Monetize Landfill Methane Vespene Energy announced that the company has raised $4.3 million…

Ripple/XRP-New Bill Exempts Crypto Cap Gains?,RippleNet ODL Increases, Stablecoin Bill DELAYED?

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Decentralized apps on Polygon hit 37,000, rocketing 400% this year

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The number of decentralized applications (DApps) on Ethereum-scaling-platform Polygon has topped 37,000, marking a 400% increase since the start of 2022. The Polygon team shared the figures via an Aug. 10 blog post, which was sourced from partnered Web3 development platform Alchemy, noting that the figure represents the cumulative number of applications ever launched on both the testnet and mainnet.ย  It also noted that the number of monthly active teams โ€” a measure of developer activity on a blockchain โ€” reached 11,800 at the end of July, up a whopping…

Bitcoin Price Surges 6%, Why Recent Breakout Looks Real

Bitcoin price found support above $22,500 and surged over 6% against the US Dollar. BTC broke many hurdles and might rise further towards the $25,000 resistance. Bitcoin started a fresh increase after it found strong bids above $22,500. The price is now trading above the $23,500 level and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $23,350 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is forming a bullish breakout pattern and might…

Ethereum L2 TVL Enjoys 284% Growth In The Past Month Ahead Of Goerli Merge

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Total value locked (TVL) on Optimism, a layer-2 scaling solution for the Ethereum blockchain, has increased 284% in the last month, according to data from DefiLlama. Users lending and borrowing assets on Aave through Optimismโ€™s layer-2 chain make up the vast majority of TVL. Ethereum Optimism TVL Surges In anticipation of The Merge update, which will see the blockchain switch from a proof-of-work network to one based on proof-of-stake, investors have been bidding up digital assets tied to the Ethereum ecosystem. The merge will be tested by Ethereum developers on…

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Cross-chain bridge RenBridge laundered $540M in hacking proceeds: Elliptic

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Cross-chain bridges have been the target of more than a few hacks this year, but new data from blockchain analytics provider Elliptic alleges one has been used to launder over half a billion dollars in ill-gotten crypto assets.ย  According to an Aug. 10 report, crypto bridge RenBridge hasย facilitated the laundering of at leastย $540 million in proceeds of crime since 2020 through a process known as chain hopping โ€” converting one form of cryptocurrency into another and moving it across multiple blockchains. Elliptic said that decentralized cross-chain bridges provide โ€œan unregulated…