Crypto Bytes: Top 10 Breaking News from Cryptoverse 

  • According to CoinShares, a week after record withdrawals of almost $1 billion were recorded for crypto-based investment products, the financial instruments saw a large comeback of almost $900 million in net inflows.
  • Xion, a web3 infrastructure company, raised $25 million. Participating in the round were Animoca Brands, Laser Digital, Multicoin, Arrington Capital, Draper Dragon, Sfermion, GoldenTree, and others.
  • At the end of this month, will begin offering digital asset trading services in South Korea. The local exchange OK-BIT, which acquired in 2022, will be replaced by the new platform.
  • Through the DeFi loan system Morpho Labs, MakerDAO is thinking of distributing $600 million worth of its stablecoin DAI into USDe and staked USDe (sUSDe).
  • Members of the dYdX community supported a plan to establish a foundation in the Cayman Islands to support the protocol’s governance and operations. dYdX Operation Trust, which had held virtual tokens valued at hundreds of thousands of dollars, will be disbanded.
  • Andreessen Horowitz intends to put $30 million into a number of IT businesses in the gaming industry. Established in 2022, the company’s gaming fund makes investments in the advancement of several technologies related to gaming, such as web3.
  • Last month alone, there were over thirty crypto hacks. Well-known hacks include WOOFi, Prisma Finance, Munchables, and an exploit in the Curio ecosystem.
  • In the first quarter of 2024, Tether added 8,888 more bitcoins to its overall holdings, bringing its total to roughly 75,354 BTC. Tether currently has more than $5.2 billion worth of bitcoins in total.
  • The volume locked in liquid restaking tokens LSTs is getting close to $8 billion. With over $3.2 billion in TVL, Etherfi is the top cryptocurrency among liquid restaking tokens (LRTs), followed by Renzo, Puffer, and other tokens.
  • Toncoin can be used by Telegram users to purchase channel adverts. The platform intends to give public channel owners half of its ad earnings.

Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.

Author: Mehar Nayar

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