5º Blockchain & cripto - 10th Jun

News

• Atomic Wallet investigates user reports of compromised accounts and tries to block stolen crypto from being sold; a researcher says the hack could exceed $35M+ (Lawrence Abrams / BleepingComputer)
• Bitcoin developers feud over whether to stamp out memecoins that have swarmed the network, led to an 11x spike in May 2023 processing fees, and created a logjam (Sidhartha Shukla / Bloomberg)
• Court filings: the SEC started its Binance.US investigation in August 2020; Binance.US operator BAM Trading generated $411M in revenue and $225M in profit since (Jack Schickler / CoinDesk)
• Crypto is dangerous nonsense and should be regulated like smoking, gambling, or pyramid schemes, not granted the dignity of regulation under US securities law (Robert Armstrong / Financial Times)
• Binance.US suspends USD deposits and tells customers to withdraw their USD funds as its banking partners could stop fiat withdrawal channels as early as June 13 (Rahat Sandhu / Reuters)
• Ethereum must undergo three transitions while evolving from a young experimental technology into a mature tech stack: L2 scaling, wallet security, and privacy (Vitalik Buterin)
• Crypto.com plans to shut down its institutional exchange service for US customers on June 21, citing “limited demand”; the closure doesn't affect retail users (James Cirrone / Blockworks)
• A US judge rejects a request to relinquish control over $7.3B in disputed FTX assets; Bahamian liquidators had argued a local judge should oversee the process (Elizabeth Napolitano / CoinDesk)
• After the SEC's recent actions and the FTX, Celsius, and Luna failures, Republican lawmakers proposing a crypto market bill is a jarring gift to the industry (Hilary Allen / Financial Times)

Startups raising funds

• Meanwhile, a Bermuda-based crypto life insurance startup, raised $19m in seed funding from Sam Altman, Lachy Groom and Gradient Ventures. Link
• Lens Protocol, developer of a decentralized social networking ecosystem, raised $15m. IDEO CoLab Ventures led, and was joined by General Catalyst, Variant and Blockchain Capital as a group of DAOs. Link
• HyperPlay, a web3 game launcher, closed a $12m Series A round co-led by Griffin Gaming Partners and Bitkraft Ventures. Link
• Hong Kong-based Taiko Labs, which is focused on scaling Ethereum, raised a $10M seed led by Sequoia China and a $12M pre-Series A led by Generative Ventures. Link

Read the news of digital businesses by email each day at www.multiversial.es