News

The Oman Investment Authority (OIA) has invested in US-based crypto mining company Crusoe Energy. Bloomberg reported this news yesterday, noting that OIA participated in Crusoe Energy’s $350 million equity round in April. OIA and Crusoe Energy declined to reveal the size of the investment. Through this investment, Oman seeks to empower Crusoe Energy to minimize gas flaring in the country. Crusoe Energy CEO Chase Lochmiller said the company would set up shop in Muscat, Oman. Explaining why Crusoe Energy decided…

Solana blockchain marked the new month of June with network downtime. The open-source blockchain platform announced this through a Twitter thread. The thread began: Block production on Solana Mainnet Beta has halted. Validator operators should prepare for a restart in mb-validators on Discord.”  While Solana users blamed 5 NFT drops for the crash, Solana attributed the downtime to a bug that prevented the network from advancing. However, the Solana team assured users about the safety of the network and their…

Binance Labs, the venture capital arm of leading crypto exchange Binance, has closed a $500 million investment fund. Binance announced this news today, noting that the investment fund attracted renowned investors like DST Global Partners and Breyer Capital. Several unnamed equity funds, family offices, and corporations also participated in the fund as limited partners. According to the announcement, the $500 million will go toward funding the expansion of the applications of cryptocurrencies. Additionally, Binance Labs aims to use the money…

New York City prosecutors have levied first-of-a-kind NFT insider trading charges against a former OpenSea employee. Manhattan Attorney Damian Williams says it represents his commitment to stamping out both stock market and blockchain-related trading crimes. The charges are related to insider trading activities carried out by 31 y/o Nathaniel Chastain while working at OpenSea. According to Reuters, Chastain is accused of secretly buying 45 specific NFTs on 11 different occasions. When doing so, he was under confidential knowledge that the…

Defi Yield Protocol (DYP) – a yield farming aggregator platform – has opened its GameFi adventure experience “CAWS Adventures” to its users. NFT holders may now connect their wallets and begin playing right away. According to an announcement from DYP on Tuesday, users must hold a CAWS NFT if they wish to play. The game’s site already features 10 levels for CAWS holders to play in, and a leaderboard of the highest-scoring wallet addresses. CAWS (Cats and Watches Society) is…

Ethereum Layer-2 system, Optimism announced on May 31st that its governance token airdrop was going live. A few hours after the airdrop launch, the network suffered from low performance as traffic surged.  The governance token, OP, is the beginning of a shift to a bicameral governance system of funding for the network, called the Optimism Collective. In April, Coinbase carried an OP token page, which roused speculations that a token airdrop was in the offing. A week later, Optimism confirmed…

Another DeFi exploit has drained over $2 million in crypto from a protocol on Terra Classic, shortly after its historic collapse. If the developers wouldn't have fixed it quickly, the hackers could have stolen far more money. The governance participant “Mirroruser” of the Terra Research Forum was the first to discover the exploit on Monday. He noted that the attack drained all the pools bridging to Bitcoin, Ethereum, and Polkadot. “All other pools will get drained as soon as new…

The financial services giant Fidelity is putting more money in cryptocurrency-related services, despite the recent market downturn. President Tom Jessop has confirmed that the firm will start developing services for cryptocurrencies besides Bitcoin, such as Ethereum trading. Unphased by the Bear Market As reported by the Wall Street Journal, Fidelity Digital Asset Services plans to hire 110 engineers with blockchain expertise. It will also bring 100 customer service specialists to the team. The new hires will have to help launch…

While one of Dogecoin’s creators is a public Twitter friend of Elon Musk, the other has a vastly more cynical outlook on the billionaire. Jackson Palmer recently called Musk a ‘grifter’, and suggested that he doesn’t even know how to run basic code. The Great Crypto Grift In an interview with the Australian publication Crikey, Palmer echoed some of his past criticisms of crypto. He believes the practice of making money through crypto trading and price appreciation highlights the worst…