Sonic, A Solana brush -5.27% The gaming-focused Layer 2 network has raised $12 million in a Series A funding round. Sonic said Tuesday that Bitkraft Ventures led the round, with participation from Galaxy Interactive, Big Brain Holdings and others.The project began raising funding in April and closed earlier this month, Sonic founder and CEO Chris Zhu told The Block. Zhu said the round consisted of shares with token warrants, bringing Sonic’s fully diluted valuation to $100 million.As part of the deal, Bitkraft joined Sonic’s board of directors. The Series A round brings Sonic’s total funding to $16 million, having previously…
Author: Crypto Flexs
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The closure of Terraform Labs and the $4.47 billion SEC settlement have revealed the consequences of cryptocurrency fraud. The incidents involving Kwon, Zhao and Bankman-Fried highlight the need for increased scrutiny of cryptocurrencies. While the successful launches of various cryptocurrency projects have been making headlines, the downfalls of some failed cryptocurrency companies have also attracted much attention. The Fall of Terraform Labs Terraform Labs, now led by CEO Chris Amani, announced its closure following a significant $4.47 billion settlement with the SEC. This turn of events has focused attention on Do-Do Kwon, founder of Terraform Labs, which developed one of…
XRP recently experienced a temporary recovery amid continued market volatility. After downward pressure continued for a while, XRP price rebounds, giving traders and investors some respite. This recovery takes place within the broader context of fluctuating market conditions driven by a variety of factors, including regulatory developments, market sentiment, and overall cryptocurrency market trends. Despite these positive moves, the market remains unpredictable and it is unclear whether XRP’s recovery will last in the long term. Investors are closely monitoring the situation and analyzing technical indicators and external factors to gauge the potential trajectory of XRP in the future. In this…
Aethir, a Decentralized Physical Infrastructure Network (DePIN) provider, announced the launch of its decentralized cloud computing network on the Ethereum mainnet. Enterprises, data centers, other cloud providers, and cryptocurrency mining operators can contribute their idle GPU resources to Aethir’s network of GPU-as-a-Service solutions. Co-founder Mark Rydon emphasized the importance of the mainnet launch: “By providing a scalable framework for redistributing idle computing resources, we can power more innovation in the rapidly evolving areas of AI, ML and cloud gaming. On mainnet, high-quality companies can contribute to the Aethir network and increase access to the current GPU supply.”Related: MetaMask enables pooled…
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Riot Platforms, Inc. (NASDAQ: RIOT) has expressed significant concern over the recent adoption of a shareholder rights plan by Bitfarms Ltd. (NASDAQ/TSX: BITF), commonly known as a “poison pill.” Effective immediately, the plan restricts any single shareholder from acquiring more than 15% of Bitfarms’ common stock without launching a formal takeover bid for the entire company, according to an official statement from Riot Platforms. Riot’s Response and Concerns Riot CEO Jason Les accused the Bitfarms board of practicing toxicity rather than engaging in constructive dialogue. Les emphasized that Riot attempted to work with Bitfarms privately…
OKX cryptocurrency exchange and security partner SlowMist are investigating a multi-million dollar exploit that led to the theft of two user accounts.The investigation relates to the theft of two OKX exchange accounts on June 9 via an SMS attack, also known as a SIM swap. This information was reported by Yu Xian, founder of SlowMist, in a post on X.“The SMS risk notification came from Hong Kong and a new API Key was created (since it contains withdrawal and trading permissions, we previously suspected cross-trading intentions, but now it seems we can rule it out).”It’s unclear how much was stolen…
Cryptocurrency Analyst CrediBULL Crypto presented an optimistic story about . Ethereum (ETH) and XRP. He claimed that the two tokens could rise to $20,000 and $20 respectively. Furthermore, he stipulated: parabolic price surge It’s likely to happen. Ethereum could hit market highs near $20,000. CrediBULL cryptocurrency mentioned on X (formerly Twitter) post There is a possibility that Ethereum may reach a market peak near $20,000. He also explained that ETH could achieve this price level, based on his belief that BTC could “realistically” see a 2X rise from its last high of $69,000 during the 2021 bull market. thus, Altcoins…
According to Crystal Intelligence, while 2023 had the highest number of annual cryptocurrency thefts, 2022 remains the costliest year by value, with 199 incidents totaling $42 billion. According to data from Crystal Intelligence shared with crypto.news, cryptocurrency scams and hacks have resulted in the loss of nearly $19 billion worth of assets, with the United States accounting for the most incidents. “The most striking aspect of the evolution of cryptocurrency crime, currently in the teens, that Crystal has observed is the speed with which new crime types emerge, new law enforcement technologies are implemented to combat them, and the process…
Pepe (PEPE) has rebounded 17.85% two days after hitting a local low of $0.00001300, as Cointelegraph previously predicted, and is currently trading as high as $0.00001340 on June 12.PEPE/USDT daily price chart. Source: TradingViewThis rebound was accompanied by an increase in trading volume, which indicated stronger confidence among traders, which could further fuel upward momentum.At least three indicators indicate a strong bullish outlook for the PEPE market, suggesting that the price of Memcoin could rise as much as 50% by the end of June. Let’s take a closer look at these potential catalysts.PEPE’s ascending wedge pattern suggests a 70% upside…