Lido Co-Founders, Paradigm Secretly Back EigenLayer Competitor as DeFi Battle Lines Form

Similar to EigenLayer, Symbiotic will offer a way for decentralized applications, called actively validated services, or “AVSs,” to collectively secure one another. Users will be able to restake assets that they’ve deposited with other crypto protocols to help secure these AVSs – be they rollups, interoperability infrastructure, or oracles – in exchange for rewards. Source

Tornado Cash Developer Alexey Pertsev Sentenced to 64 Months for Money Laundering

A Dutch court has sentenced Tornado Cash developer Alexey Pertsev to five years and four months in prison for laundering $2.2 billion through the cryptocurrency mixing service. The case represents a pivotal moment for decentralized finance (defi) regulation and crypto privacy. Dutch Court Imprisons Tornado Cash Developer for $2.2 Billion Money Laundering via Crypto Mixing […] Source CryptoX Portal

Galaxy Digital CEO Predicts Next Market Movements

Mike Novogratz, the CEO and founder of Galaxy Digital, shared his insights on the current state of the cryptocurrency market. According to Bloomberg, Novogratz predicts that Bitcoin (BTC) will likely remain within a relatively narrow trading range for the current quarter as the adoption of cryptocurrencies in traditional finance continues to evolve. Stagnant Crypto Market Per the report, Novogratz described the current phase in the crypto market as a consolidation period. He emphasized that Bitcoin, Ethereum (ETH), and other cryptocurrencies, including Solana (SOL), are expected to consolidate.  This consolidation phase suggests…

Using Blockchain Tech to Reduce Water Shortages

Let’s say you plug into the network and say, “Hey, I’m a harvester.” Then we put out a bounty for someone in the locality to become a validator, who goes to your place and just validates that, “Hey, these guys have the infrastructure for it.” So what happens, in essence, is we’re creating a bunch of these local green jobs. And all of these different tasks are gamified using our bounty system. Source

Insider at Solana’s (SOL) Cypher Protocol Admits to Stealing $300K

Hoak’s admission comes one day after Cypher’s founder Barrett accused him of systematically draining troves of valuable cryptos from the protocol’s redemption contract over multiple months, beginning in December. Citing on-chain data, Barrett said Hoak ultimately sent assets worth around $300,000 (at current market prices) to Binance, presumably to cash them out. Source

This Indicator Flashes Green For The First Time Since January 2024

According to the candlestick arrangement in the daily chart, Bitcoin is moving inside a range. BTC is also down roughly 20% from the all-time high at spot rates. Though the series of lower lows posted in the past few trading days is bearish, one analyst is upbeat, expecting an encouraging recovery in the sessions ahead. This Indicator Flashes Green: Time For Bitcoin To Rally? Taking to X, the analyst notes that the 50-day Williams %R oscillator is turning from oversold territory, signaling that the bear run could end. Historically, the indicator…

Former CFTC Chair joins Paxos board of directors

Former Commodity Futures Trading Commission Chair J. Christopher Giancarlo will join the board of directors at Paxos. According to a press release from Paxos, the former head of the CFTC will join the board of directors of the stablecoin issuing company. The firm hired Giancarlo to work among other directors, including former U.S. Senator Bill Bradley. “Chris brings unparalleled expertise and understanding of complex market dynamics to Paxos […] His insights will support us as we expand our position as a leader in regulated digital asset market structure and stablecoin innovation.” Charles Cascarilla,…

The Hard Truths and Worrying Consequences of the Tornado Cash Verdict

Indeed, part of Pertsev’s defense was acknowledging that, even if money laundering was happening, because the protocol operated like a robot on a blockchain and users always maintained “exclusive control” over their funds, if anyone is to blame it is the users themselves. This is to say nothing that Tornado’s devs did maintain a frontend, through which 90+% of users went through. Source

Shiba Inu Volume Flips Dogecoin, Will SHIB Price Flip DOGE If This Analyst’s Prediction Comes True?

Shiba Inu is up by 7% in the past 24 hours amidst an uptick in the meme coin market, coming ahead of Dogecoin at this time. The meme coin niche has witnessed a strong resurgence in the past day, with the entire niche up by 7.82%. Shiba Inu has particularly done well and witnessed a strong volume of interest amidst this uptick. Interestingly, this uptick in volume for SHIB has surpassed DOGE, with on-chain data suggesting SHIB could do better in the short term. At the same time, crypto analyst…