Author: Yeek.io

Quick take: Cyber Fund and Kraken Ventures co-led the pre-seed round, while SevenX Ventures led the seed round. The pre-seed closed at a valuation of $20 million, while the seed round values the protocol at $40 million. Other investors in the rounds include Semantic Ventures, Figment Capital and Robot Ventures, with Anthony Sassano and Sandeep Nailwal joining as angel investors. Valantis, a modular DEX  protocol that provides a modular framework for developers to build DEXes using composable modules has raised $7.5 million across two rounds. The company revealed it raised $3.5 million in April in a pre-seed round led by…

Crypto is fueling a rise in complex money laundering schemes in 2024, the Eurasian Group on Combating Money Laundering warns in its latest report. Money laundering schemes increasingly rely on crypto and multi-layered methods in 2024, highlight the growing complexity of illicit financial flows, Russia‘s state-run news agency reports, citing a recent report from the Eurasian Group on Combating Money Laundering. The report, which covers risks related to money laundering and terrorism financing, underscored the involvement of professional money launderers who are utilizing cryptocurrencies, fake identities — known in Eurasia as “droppers” — and even cash in these operations. The…

What Are Carbon Credits?In simple terms, carbon credits are basically a license to emit one ton of carbon dioxide or its equivalent quantity of any other greenhouse gases. Organizations purchase these to offset their emissions, typically investing in projects related to reforestation or renewable energy. While the system supports sustainability, fraud, inaccessibility, and tracking problems have long affected it.In particular, blockchain technology is making the carbon credit system more efficient, more transparent, and more reliable. Innovation here is called Carbon Credit Tokenization; it renews the carbon credit ecosystem and is going to facilitate more intensive use of Green Finance and…

Monday 8 July 2024 A new case study showcases the successful implementation of cross-chain Delivery versus Payment (DvP) settlement using EEA DLT Interoperability Specification The Enterprise Ethereum Alliance (EEA) today released a new case study today demonstrating a successful implementation of its Distributed Ledger Technology (DLT) Interoperability Specification. The Distributed Ledger Technologies Interoperability Case Study highlights a Delivery versus Payment (DvP) settlement process involving multiple DLT networks. Key highlights of the case study include: Successful interoperability between a private permissioned Corda network for securities management and a private permissioned Ethereum network for payments Implementation of atomic settlement as per the…

Quoll, a yield farming platform on the BNB Smart Chain (BSC), saw its total value locked (TVL) soar from nearly $1 million on November 26 to the current level of $13.7 million, setting a new record, as per data from DefiLlama. Quoll has been a dormant yield product since its 2022 launch with nearly $9 million in TVL. It hasn’t been a successful project, as its TVL has been steadily declining since its launch despite the volatility in the decentralized finance (DeFi) sector. Earlier this month, its TVL reached the lowest level on record at $150,000. Since then, the metric…

Aurum Equity Partners launched a $1 billion tokenized equity and debt fund on the XRP Ledger, an enterprise-grade blockchain network linked with Ripple.The Fund will seek investments in data centers across the US, the UAE, Saudi Arabia, India, and Europe. It has been heavily promoted as the “world’s first combined equity and debt tokenized fund” that allows investors to engage in a hybrid model by utilizing both asset classes via blockchain technology.Aurum Launches $1B Tokenized Fund on XRP Ledger.Aurum Equity Partners unveiled the world’s first hybrid equity and debt tokenized $1 billion Fund, powered by Zoniqx’s asset tokenization technology. This…

On September 5, 2020, Chef Nomi, the pseudonymous creator of SushiSwap, shocked the community by removing his significant share of SUSHI/ETH liquidity and converting it to ETH. The action, commonly referred to as a “rug pull,” resulted in Chef Nomi gaining approximately $14 million worth of ETH – leaving the SushiSwap community disappointed and feeling betrayed.Dashed PotentialAt the time, SushiSwap was positioned to become a strong decentralized competitor to Uniswap. It had successfully executed a “vampire attack” by attracting liquidity providers and migrating their funds from Uniswap to SushiSwap. Users had moved around $1 billion in Uniswap liquidity tokens to SushiSwap, signaling…

A trader won a fortune betting on a cryptocurrency inspired by a viral internet meme, which is now worth more than $500 million in market capitalization. What Happened: On-chain tracking platform Lookonchain took to X Wednesday, highlighting the extraordinary trade of Just a chill guy (CHILLGUY) token. The trader turned a mere $160 into a staggering $6.14 million in just 12 days, marking a 38,399X return on investment. The trader purchased 12.5 million CHILLGUY tokens on Pump.fun, a Solana SOL/USD-based meme coin launching pad, for 0.75 SOL, equivalent to $160. Subsequently, they sold 2.8 million CHILLGUY for 149 SOL, worth $35,400. The trader…

In the current era where social media platforms have gained dominance, users revealed their personal and private data for free. This data was monetised by corporate giants for trillions of dollars in advertising revenue. Silicon Valley-headquartered Bluwhale, an AI Web3 startup follows a new approach, which gives control and money to wallet holders. For the first time, wallet holders can be in charge of their digital profile and decide if they want to hear from marketers and monetise their information. Raises $7M seed round Now, Bluwhale has raised a $7 million seed funding round led by SBI, both SBI Ven…

The competition among Layer-1 blockchains is fierce, with projects like $SOL, $SUI, and $OM dominating headlines. However, $OM is increasingly standing out, with its focus on real-world asset (RWA) tokenization—a sector set to redefine decentralized finance. With a current price of $3.65 and a market cap of $3.3 billion, $OM has already delivered an incredible 198% rally over the past month. It remains one of the strongest performers among Layer-1s, signaling its potential to reach $10 and break into the top 20 cryptocurrencies by market cap in 2024. Liquidation Data Reflects Market Sentiment Recent liquidation data highlights the bullish sentiment…