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Coinbase CEO: Coinbase plans to integrate Solana on Bitcoin network

Twitter
December 03
Coinbase CEO Brian Armstrong said in an interview that he hopes that the transaction settlement speed on the platform can be less than one second and the cost is less than one cent. To do this, Coinbase will integrate the Lightning Network and “other very fast layer-1s like Solana” on Bitcoin. Armstrong added that the above goal can only be achieved if 99% of transactions occur in L2.

Grayscale: GBTC’s listing as an ETF will unlock approximately US$1.89 billion in value for investors

Twitter
December 02
According to Grayscale’s latest blog post, in ETF form, GBTC stock is expected to more closely track the price of Bitcoin, meaning any premium or discount on GBTC stock price will disappear. As of November 29, 2023, GBTC's asset management scale was US$23.4 billion, with a negative premium of 8.09%, or US$1.89 billion. Assuming that the current negative premium disappears, GBTC will unlock approximately US$1.89 billion in value for investors through the arbitrage mechanism after it is listed on NYSE Arca and becomes an ETF.

Velodrome: Site service now restored, attackers still under investigation

Twitter
December 02
Velodrome, the Optimism ecosystem decentralized trading protocol, issued an update saying: “Services at velodrome.finance have now been restored. We are continuing to investigate social engineering attacks and attackers targeting our providers and will share more information soon.

Crypto Startup Bastion Names a16z and Former Kraken Chief of Staff Caroline Friedman as Chief Operating Officer

Twitter
December 01
A16z-backed crypto startup Bastion has appointed a16z and Kraken’s former chief of staff Caroline Friedman as the company’s chief operating officer. Friedman also served as an Assistant United States Attorney for Major Crimes in the United States Attorney's Office. Caroline Friedman, who has served as head of corporate operations since February, will later manage Bastion's compliance, regulatory affairs, people, public policy and finance functions as chief operating officer.

On-chain fan engagement platform MITH completed a US$3.5 million seed round of financing, with participation from Warner Music Group and others

Twitter
December 01
MITH, a fan engagement platform based on the Polygon blockchain, announced the completion of a US$3.5 million seed round of financing, led by Point72 Ventures and A+E Networks, with participation from Warner Music Group, CMT Digital, Winklevoss Capital, Synergis Capital, Near Foundation, 4RC and Alpha Praetorian Capital Participate in investment.

Miami fraud ring leader sentenced to 63 months in prison for cryptocurrency fraud

Twitter
December 01
Damian Williams, U.S. Attorney for the Southern District of New York, announced that Esteban Cabrera Da Corte of Miami, Florida, was indicted by the U.S. District Court for masterminding a scheme to steal millions of dollars in cryptocurrency and tricking U.S. banks into returning funds used to purchase the cryptocurrencies. Judge Katherine Polk Failla sentenced him to 63 months in prison and ordered him to pay $3.57 million in restitution and a $1.2 million fine.

Cross-chain protocol Wormhole completed US$225 million in financing at a valuation of US$2.5 billion and established Wormhole Labs

Twitter
November 30
Cross-chain protocol Wormhole announced the completion of $225 million in financing at a valuation of $2.5 billion, making it the largest crypto project financing in 2023. There was no lead investor in this round of financing, with participating investors including Brevan Howard, Coinbase Ventures, Multicoin Capital, ParaFi, Dialectic, Borderless Capital, Arrington Capital and Jump Trading. Saeed Badreg, CEO of Wormhole Labs, said that technically this is the company’s first financing; Jump Crypto, the crypto arm of high-frequency trading company Jump Trading, has been incubating the project for several years. Badreg said that these investors’ equity will consist entirely of token warrants, rather than company equity, and declined to comment on the name of the Wormhole token or when it will be launched (this has not been previously reported).

Changpeng Zhao resigned as chairman of the board of directors of Binance.US and will no longer participate in corporate governance

Twitter
November 29
Binance.US posted on Twitter that Binance.US was established for the express purpose of serving American customers in accordance with U.S. rules and regulations and therefore operates independently from Binance.com. Binance.US is not a party to the settlement announced last week and does not have any outstanding enforcement issues with the DOJ, FinCEN, OFAC or CFTC. The platform will continue to be fully operational and committed to providing the same products and services to customers.

CF Benchmarks launches pledge index series for institutional clients

Twitter
November 29
Cryptocurrency benchmark index provider CF Benchmarks has launched a series of staking indexes for institutional clients. According to a company statement, the data is called the "CF Staking Reward Rate Series (CF Staking Reward Rate Series)" and provides investors with reward rates for certain proof-of-stake protocols and provides institutional clients with a more relevant reflection of daily staking rewards. . Indexes in the new CF staking reward rate series have been registered in the EU Benchmark Regulation, and reward rate data comes from four institutional non-custodial staking providers.