Blockchain Financial News

Polygon’s zero-knowledge scaling arm, Polygon Zero, is accusing developers of Matter Labs of copy-pasting “a substantial amount of source code” from its Plonky2 library, according to an announcement on Aug. 3.

Shara Senderoff and Aaron McDonald, co-founders of AI and metaverse company Futurverse, have launched a new $50 million venture fund and studio.

Coinbase’s Base network has released a user interface (UI) for its official bridge, allowing end users to onboard for the first time without relying on developer tools, according to an Aug. 3 announcement. The team has set Aug. 9 as Base’s “official” release date. The team will award over 100 Ether (ETH), worth approximately $184,000, in grants to developers and content creators as part of a month-long launch event called the “Onchain Summer.”

On the latest episode of Market Talks, host Ray Salmond spoke with Blockware Solutions account executive David Gamble about the future of Bitcoin (BTC) mining, expectations for the cryptocurrency’s price, and his views on how the decentralized finance (DeFi) sector needs to evolve. 

Metaverse platform The Sandbox will require Know Your Customer (KYC) verification for its staking processes, according to an Aug. 3 announcement. 

Curve Finance's native stablecoin crvUSD briefly depegged on Aug. 3, reacting to an uncertain environment surrounding the protocol after its recent exploit. In the course of the day, the stablecoin fell by as much as 0.35% before regaining its peg to the United States dollar.

The United States Internal Revenue Service (IRS) has issued a ruling that clarifies the taxation of cryptocurrency staking rewards. According to Revenue Ruling 2023-14, released on July 31, 2023, crypto staking rewards must be reported as gross income in the year they are received.

Accordint to a report released by Messari, Polygon ($MATIC), a suite of Ethereum-based scaling solutions, unveiled key insights and recent developments in its ecosystem for the second quarter of 2023. Among the key highlights, Polygon Labs introduced Polygon 2.0, a network of zero-knowledge Layer-2 blockchains. This new development aims to become the «Value Layer of the Internet,» bringing significant updates to protocol architecture, tokenomics, and governance.

Astar Network, a leading blockchain platform in Japan, has unveiled its Tokenomics 2.0 strategy, focusing on creating sustainable growth for its native token, ASTR. The announcement comes on the heels of the network's recent integration with Fireblocks, a digital asset management platform, to boost secure DeFi access for over 650 banks and financial institutions.

Coinbase, the largest publicly traded crypto exchange based in the US,revealed its plans to open mainnet for the public, starting August 9.

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Leading enterprise-aimed layer-1 blockchain XDC Network appears to be breaking out, following an impressive +100% pump in price over the past week.

Amid growing uncertainty around Curve exposure for many decentralized finance protocols, Aave Chan founder Marc Zeller has proposed that Aave Treasury buy $2 million worth of CRV tokens in USDT from Curve Founder Michael Egorov.

Jun Du, the co-founder of Huobi, has bought 10 million Curve tokens (CRV) for $4 million from Michael Egorov, the founder of Curve, as he seeks ways to decrease his exposed loan position.

Crypto exchange HashKey has become the first digital asset entity to receive a license under Hong Kong’s new crypto licensing regime.

The XRP price has dropped by 4.5% in the past 24 hours, falling to $0.663825 as the cryptocurrency market overall slides by 1% today.

FundsDLT is playing a key role in the development of D7, a new cloud-backed and DLT-ready platform from the German exchange operator that will deliver same-day-issuance and paperless, automated straight-through processing for the entire value chain of issuance, custody, settlement, payment and asset servicing for digital securities.Alrready a significant minority shareholder, Deutsche Börse has bought out former stakeholders Credit Suisse Asset Management together with UBS Asset Management as well as Natixis Investment Managers.“The acquisition of FundsDLT is a critical and natural step in our digital strategy. It demonstrates our position at the forefront of innovation and will redefine the overall distribution chain of the fund business,” states Philippe Seyll, CEO of Clearstream Fund Centre.

Crypto exchange Binance, on Thursday, August 3, announced that it would be opening trading for the Bitcoin/First Digital USD (BTC/FDUSD) and Ethereum/ First Digital USD (ETH/FDUSD) trading pairs alongside an updated zero-fee Bitcoin and Ethereum trading with newly added FDUSD stablecoin spot and margin pairs.

BlockFi’s reorganization is gradually progressing, with the company revealing that the United States Bankruptcy Court for the District of New Jersey has conditionally approved its disclosure statement.

Pi Ventures, which invests in artificial intelligence and deeptech startups, has announced the final close of its second fund with a total commitment of Rs 702 crore ($85 million), closing above the target of Rs 565 crore. The fund is backed by multiple institutional players, including BII, Nippon India Digital Innovation AIF (NIDIA), Accel, Colruyt, Premji Invest, as well as entrepreneurs and family offices. SIDBI has also returned as a key investor in Pi ventures’ second fund with a commitment of Rs 100 crore from the Fund of Funds for Startups (FFS), about 2.5 times of what the FFS had invested in the first fund.