May 16: Param Lab, the independent games and infrastructure development company behind the Kiraverse games, and 3D asset creation platform Pixel to Poly announced $7 million in funding in an investment round led by Animoca Brands. According to the team, “Delphi Ventures, Cypher Capital, Mechanism Capital and other top-tier investors also participated in the seed and private funding rounds, which will allow the company to compete with major players such as Pudgy Penguins, Neo Tokyo, Animoca Brands’ Mocaverse, Pixelmon, as well as GameStop. We also have retailers.”
Author: Crypto Flexs
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Our weekly news roundup from East Asia selects the most important developments in the industry. Bybit’s Open Day Notcoin Problem Cryptocurrency exchange Bybit has been embroiled in controversy over the initial listing of Notcoin (NOT), a play-to-earn game and token built on an open network and integrated into a Telegram mini-app. Essentially, not all users received the airdrop before the market opened, putting those who received the airdrop at a disadvantage. Subsequent trading prices were much lower than on other exchanges. “The Bybit team is working hard to resolve the Notcoin airdrop balance reflection issue.” wrote CEO Ben Zhou said…
Solana Memecoin creation tool Pump.fun claimed that a former employee extorted the company out of approximately $2 million through a “bond curve” attack.The former employee used his “privileged position” to gain access to “withdrawal authority” and compromise the protocol’s internal systems, Pump.fun. It was claimed in X’s post on May 16th.Approximately $1.9 million of the total $45 million held in Pump.fun’s bonding curve contracts was stolen.The platform has temporarily suspended trading, but is now back up and running.Pump.fun smart contracts are “secure” and users affected by the incident will receive “100% of the liquidity” they previously held within the next…
BNB, the native cryptocurrency of the BSC network, was undoubtedly one of the winners in the altcoin space where the bull market began. The price rose from about $200 to over $600 in one year, making a profit of more than 200% in the process. However, this run of altcoin outperformance appears to be coming to an end as one analyst predicts that the altcoin will encounter significant resistance that could halt its growth. BNB is heading towards the resistance In an analysis shared on the TradingView website, cryptocurrency analyst Trade City Pro stated that the BNB token may soon…
Tornado Cash developer Alexey Pertsev has reportedly appealed his conviction in the Netherlands, a case that has sparked a broader conversation about cryptocurrency privacy. Pertsev and his legal team, led by attorney Keith Cheng, have reportedly filed an appeal against his 64-month sentence for facilitating money laundering of more than $2.2 billion through Tornado Cash, an Ethereum-based cryptocurrency mixer. Several media organizations reported the application submitted to the s-Hertogenbosch Court of Appeal, but it was not yet known whether the appeal had been approved at the time of going to press. Attempts by crypto.news to contact Pertsev’s lawyer for confirmation…
Pump.fun, a Solana-based platform that streamlines token launches, appears to have been exploited. The exploiter appears to have lost around $2 million by using flash loans to obtain enough SOL to buy the bond curve of the Pump.fun memecoin. The situation is developing and The Block has reached out to the project team for comment. “We believe that Pump.fun “The bonding curve agreement has been compromised and we are investigating the matter.” wrote On social media platform Pump.fun updated its contracts to prevent attackers from leaking more funds, adding that the total value of the protocol is locked and wallets…
What exactly is Operation Chokepoint 2.0? In today’s email titled “(Urgent) Bitwage Banking Transition – Service Changes Delivered,” BitWage said: Dear Bitwag Community, The cryptocurrency sector is facing challenges due to increasing regulatory pressure on the U.S. banking industry, which many are calling “Operation Chokepoint 2.0.” This pressure has come in the form of the SEC Wells notice, private conversations between regulators and banks, and limiting direct access from cryptocurrency-friendly banks to the Federal Reserve. As part of our commitment to providing you with the highest quality service, we have worked diligently to maintain stable banking relationships despite industry crackdowns.
Binance Launches Liquidity Pairing ProgramBinance, one of the world’s leading cryptocurrency exchanges, has launched the following services to provide comprehensive services and abundant liquidity on its platform. Liquidity Pairing Program. The program is designed to connect projects with qualified liquidity providers with the goal of improving liquidity and creating a healthy digital asset trading ecosystem.How to participate in the programInterested liquidity providers can participate in the program by contacting their designated VIP Sales or Key Account Manager. Successful applicants will be classified into “Standard” or “Premium” levels based on certain criteria. Binance reviews all participants’…
Ethereum is a legacy network, but it has been evolving rapidly. For example, we have adapted to environmental requirements as we look for ways to expand. Some difficult choices were made, including switching from a proof-of-work to a proof-of-stake system. However, Ethereum developer and team leader Péter Szilágyi said: interested About how “transformable” Ethereum is becoming. Ethereum prioritizing short-term fixes over protocol integrity? Regarding X, Szilágyi criticized the project’s development direction. Team leaders have noticed a growing trend of developers prioritizing short-term fixes over the long-term state of the protocol. These criticisms come at a time when regulators are scrutinizing…
Anichess works with Team Secret. Anichess, a subsidiary of Animoca Brands and an innovative chess-based online strategy game developed in partnership with Chess.com and five-time World Chess Champion Magnus Carlsen, has announced a strategic partnership with global esports brand Team Secret. This collaboration aims to further connect competitive gaming and Web3. Anichess and her approach to chess Anichess offers a unique tactical approach to the classic game of chess, incorporating spells that open up new strategies and gameplay. This requires players to rethink the rules of traditional chess while discovering a wide range of knowledge…