Asset management firm GoldenTree sells its crypto subsidiary GoldenChain to Republic
Hedge fund manager Steven Tananbaum’s GoldenTree Asset Management has sold its crypto subsidiary to digital asset investment firm Republic, Bloomberg reported. Last September, GoldenChain’s trading arm managed $120 million to $150 million worth of crypto assets.
Former GoldenTree partner Joe Naggar will join Republic Digital, a newly created entity within Republic, as CEO and chief investment officer.
According to the official blog, Bitcoin pledge chain BounceBit announced the launch of BounceClub, an incentive program with a total of 100 million BIT, aiming to accelerate the development and innovation of dApps. This program will reward projects that are successfully launched on the BounceBit App Store to jointly build a vibrant open ecosystem. Developers can apply for listing through official guidance documents and enjoy multiple supports such as easy deployment, performance insights, community feedback, and marketing promotion.
Decentralized exchange FixedFloat said on the services. We successfully withstood their attacks and continue to function normally. However, despite all our efforts, unfortunately hackers managed to discover a vulnerability in a third-party service we use. Although this The third-party attack was beyond our control, but we will still take all necessary measures to strengthen the security of our services and work to prevent similar incidents from happening again in the future. We would like to emphasize that this financial loss only affects us services; the funds stolen by hackers are to ensure the liquidity of the service, that is, the company's funds and user funds have not been affected. We also want to emphasize that FixedFloat does not provide custody services, that is, it does not store user funds. Currently we This matter is under active investigation. As the investigation is ongoing, details of the incident cannot be released."
Earlier news, CertiK said that FixedFloat issued "suspicious" transactions totaling more than $3 million in the past 24 hours.
CoinList announces the list of 2024 spring batch seed projects, with 11 projects shortlisted
CoinList announced the list of 2024 spring batch seed projects. Selected projects will receive support from the CoinList community, including access to cryptocurrency adopters, founder networks, and product discounts. The 11 selected projects include:
1. Aarc: Building a modular layer for unified borderless dApps;
2. BAXUS: a safe platform for trading wine and spirits;
3. Earn Alliance: Provides a discovery-based game platform to promote the growth of games and developers;
4. Grove: a platform that uses liquidity to convert into cashless investments;
5. Plato Protocol: Eat2Earn platform that provides FAT Dollars rewards;
6. Pocket Universe: Web3 fraud detection service platform;
7. Sleepagotchi: A sleep game platform inspired by NFT and Web3;
8. Spaces Protocol: A scalable and permissionless authentication platform built on Bitcoin;
9. Sustainable Bitcoin Protocol: a bridge connecting climate investors and Bitcoin;
10. Unstable Protocol: A protocol for remortgaging the ETH leverage layer;
11. Watches.io: End-to-end transaction and tracking ecosystem for luxury watches.
OpenSea: Creators have been supported to use ERC721-C to set and execute creator income
NFT market OpenSea announced on Twitter that creators can now use ERC721-C to set and execute their own creator income on its platform. ERC721-C is a standard that supports creators to implement programmable and executable creator returns on the chain. It also allows creators to implement custom logic in their works.
Lido’s Solana protocol blocks users from withdrawing $24 million in SOL tokens due to coding error
According to DL News, a coding error was discovered in Lido’s Solana protocol, preventing users from withdrawing SOL tokens worth a total of $24 million. Lido terminated its Solana protocol and removed its web interface in February, but still holds $24 million worth of SOL in the protocol. Although Lido gave stSOL holders a nearly five-month notice period to reclaim their tokens by interacting directly with the protocol code, many users missed the deadline due to a lack of technical knowledge. Additionally, a newly discovered smart contract bug also prevented stSOL holders from making withdrawals. More than 31,000 wallets are currently trapped.
PANews reported on April 2 that the Aave Chan Initiative (ACI) team launched a new ARFC proposal in the Aave community, aiming to adjust the risk parameters of the DAI stablecoin. It is recommended that the loan-to-value ratio (LTV) of DAI be adjusted to 0%, and remove the sDAI incentive from the Merit plan, effective from Merit Round 2 and beyond.
ProShares launches two intraday 2x leveraged ETFs tracking Bitcoin
According to Businesswire reports, ETF provider ProShares announced the launch of ProShares Ultra Bitcoin ETF (BITU), which is the first ETF product designed to track Bitcoin’s intraday 2x return target. At the same time, ProShares also launched the ProShares UltraShort Bitcoin ETF (SBIT), which is the first ETF to track Bitcoin’s intraday -2x return target. BITU and SBIT are listed on the New York Stock Exchange and aim to solve the challenges of acquiring leveraged or shorting Bitcoin.
Forbes has released its 2024 list of global billionaires, of which 17 are from the crypto field. The total value of crypto assets, publicly disclosed stock portfolios, and private wealth held by these investors and entrepreneurs is estimated to be approximately $93 billion. That’s more than twice the combined wealth of the nine crypto billionaires on last year’s list ($37 billion).
Binance founder and former CEO CZ has become the richest man in cryptocurrency for the third consecutive year. His current net worth is estimated at $33 billion, much higher than last year's $10.5 billion, ranking 50th on the global billionaire list. In addition, Coinbase CEO Brian Armstrong ($11.2 billion) and MicroStrategy CEO Michael Saylor ($4.4 billion) were selected.
Bloomberg: Paradigm is seeking to raise $750 million to $850 million for new fund
Crypto investment company Paradigm is in talks with investors and plans to raise $750 million to $850 million for a new fund, Bloomberg reported, citing people familiar with the matter. If the deal is completed, the fund will become the largest in the industry since the 2022 crypto bear market. Paradigm raised a $2.5 billion fund in 2021, which was the largest crypto investment vehicle at the time. Last September, reports surfaced that Paradigm was planning to raise a $1 billion fund.
IoT blockchain platform IoTeX completes US$50 million in financing
According to CoinDesk, the Internet of Things blockchain platform IoTeX completed US$50 million in financing, with participation from Borderless Capital, Amber Group, Foresight Ventures, FutureMoney Group, SNZ, Metrics Ventures, EV3 and Waterdrip Capital. The IoTeX team stated that the funds will be used to invest in long-term pledged DePIN tokens IOTX and DePIN projects built on IoTeX, thereby driving the growth and adoption of DePIN and meeting the growing demand for connecting real-world data and IoT devices to Web3.
Stablecoin issuing company Agora completed a $12 million seed round of financing, led by Dragonfly
Nick Van Eck, the son of investment management veteran Jan Van Eck, is betting on cryptocurrencies with the help of the family business of the same name, Bloomberg reports. Agora, a startup co-founded by Van Eck and crypto veterans Drake Evans and Joe McGrady, has raised $12 million in a seed round led by digital asset venture capital firm Dragonfly. The round of equity investment also includes investments from General Catalyst and Robot Ventures, among others.
Agora's parent company is incorporated in Delaware, and its stablecoin issuing agency is located in the British Virgin Islands. The stablecoin is only available to users outside the United States. Like other popular stablecoins, Agora’s USD stablecoin will be backed by cash, U.S. Treasuries, and overnight repurchase agreements. Kyle DaCruz, director of digital asset products at VanEck, said VanEck will manage the Agora Reserve Fund.
VanEck said that between Tether and USDC, there is still room for newcomers. Agora plans to focus on cooperation with cryptocurrency companies (including exchanges) rather than directly developing customers in different regions. Agora does not plan to issue governance tokens. Agora plans to sign revenue sharing contracts with partners, and individual Agora holders will not directly receive any benefits or income generated by Agora.
Bloomberg Analyst: Bitcoin ETF trading volume reached $111 billion in March
Bloomberg ETF senior analyst Eric Balchunas said on the X platform that the trading volume of Bitcoin ETFs reached $111 billion in March, approximately three times that of February and January. Balchunas also commented on this data: "I can't imagine that the transaction volume in April will be larger."
According to The Block, a wallet labeled "Silk Road U.S. Department of Justice Confiscated Funds" transferred 2,000 Bitcoins to a Coinbase Prime address, worth approximately $139 million. The wallet has previously transferred 0.001 Bitcoin to the Coinbase Prime wallet, which may be a test transaction.
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