Author: Yeek.io

Quick take: The Series A round brings the total raised to $18.75 million, following previous investments from YZi Labs (Binance Labs), Hack VC and No Limit Holdings. All Infrared fundraisings to date have been structured as simple agreements for future tokens (SAFTs), co-founder and CEO Raito Bear told The Block. The company plans to use some of the capital to expand its team, including hiring a development and operations engineer and a head of DeFi APAC. Berachain-based liquid stalking protocol, Infrared has raised $14 million in a Series A round led by Framework Ventures. The fundraising also attracted participation from…

THORChain generated more than $5 million in total revenue after the protocol’s asset swap volume hit record highs, driven by the exploiter behind the $1.4 billion Bybit hack.Centralized crypto exchange Bybit was hacked for over $1.4 billion worth of crypto on Feb. 21 in the largest hack in crypto history.The North Korean state-affiliated Lazarus Group, identified as the main suspect by blockchain security firms, continued laundering the stolen funds, using crosschain asset swap protocol THORChain for a significant part of the transfers.Since the exploit, THORChain has processed more than $5.4 billion in total swap volume, generating about $5.5 million in…

The company that created the Bored Ape Yacht Club (BAYC) NFTs, Yuga Labs, is celebrating a significant court win. Without pursuing any enforcement measures, the US Securities and Exchange Commission (SEC) has formally concluded its investigation into the company. This decision brings an end to a probe that lasted more than three years and questioned whether Yuga Labs’ NFT sales and its ApeCoin (APE) token should be classified as securities. The SEC Probe And Its Purpose The SEC first launched its investigation into Yuga Labs in October 2022. At the time, regulators were looking into whether BAYC NFTs and ApeCoin…

Think of any video game genre, and you can be assured that it has found a Web3 counterpart in recent years. FPS titles, platformers, trading card games, RPGs, MMOs – they’ve all seen the Web3 treatment. Whilst individual games in each of these genres has seen success, one genre of games in particular has captured regular acclaim – sports.Sports games are perfectly suited to Web3 gaming. Combining team-building, strategy, management and more, it’s a genre that seems purpose-built for Web3 integration. More than any other genre, it is Web3 sports games that have done the most to onboard traditional gamers…

​Hamster Network is processing 34,028 transactions per second, positioning itself among the fastest blockchain platforms.  This performance surpasses other notable blockchains, such as Aptos (APT), with a maximum recorded TPS of 11,936, Solana (SOL) at 7,229, and Algorand (ALGO) at 5,716, according to data seen by crypto.news. Hamster Kombat (HMSTR) developers are working to create utility for the token. They recently launched a layer-2 network on the TON (TON) blockchain aimed at improving transaction speeds and lowering costs. Hamster Kombat’s larger transaction volume  In simple terms, a blockchain is a digital ledger that records transactions across a decentralized network of…

US legislators are drafting a Congressional Review Act (CRA) to counter the Internal Revenue Service’s (IRS) broker rules, which require DeFi players to share user information with the agency.Republican Senator Ted Cruz is spearheading the push to file the CRA, which would reverse the IRS rule. The first vote was scheduled for March 5, but scheduling issues, such as the State of the Union address, could postpone proceedings.The IRS broker rule, finalized last year, expands the definition of a “broker” to include DeFi developers and front-end platforms.This means such platforms have to monitor user actions, report the transactions, and implement…

Quick take: Bain Capital Crypto, Coinbase Ventures and Multicoin Capital also participated in the round, with Sina Habinian joining as an angel investor. The fundraising was secured across two rounds with the first round closing in the first quarter of 2024 and the second in the fourth quarter. The latest funding brings the total raised to $51 million, following a $10 million token round announced in November 2022. Across Protocol has raised $41 million in a private token sale led by Paradigm, with participation from Bain Capital Crypto, Coinbase Ventures and Multicoin Capital. Podcaster Sina Hibinian joined the round as…

The President’s plan to back a U.S. crypto reserve without BTC has sparked intense debate Initial price surges for XRP and ADA quickly faded, prompting accusations of a politically motivated pump-and-dump scheme Donald Trump’s bold push for a U.S. crypto reserve brought crypto to the fore officially, but not in the way many expected. Instead of focusing solely on Bitcoin [BTC], as he once proposed, Trump’s plan includes XRP, Cardano [ADA], and Solana [SOL] — a move that has ignited fierce debate among crypto leaders and traders alike. Initially, the market reacted with enthusiasm, driving up prices for these altcoins…

Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful…

Why the Backlash?Several tech and crypto leaders are questioning the plan. Here’s why:Taxpayer Money: Critics argue that using taxpayer funds to support speculative digital assets is risky.Obscure Tokens: The inclusion of Solana, XRP, and Cardano raises questions. These tokens are less widely accepted and some believe they were chosen due to personal ties within Trump’s administration.Lack of Details: The announcement was vague, leaving investors uncertain about how the reserve would work.The backlash isn’t limited to crypto skeptics. Even pro-crypto voices have criticized the plan. Joe Lonsdale, a tech entrepreneur, tweeted that it was wrong to tax people for what he…