Sia’s Parent Company Raises $3 Million and Launches Rebrand

Key Takeaways Nebulous, the company that develops Sia, has rebranded and shifted its focus to Skynet. Skynet is the company’s decentralized web hosting platform. The company has raised $3 million for future development. Share this article Nebulous, the parent company behind Sia, has rebranded under the name Skynet Labs and raised $3 million for future development. Sia’s $3 Million Funding Round Skynet’s $3 million funding round was led by Paradigm, along with Bain Capital Ventures, Bessemer Venture Partners, A.Capital, Collaborative Fund, Dragonfly Capital Partners, Hack VC, INBlockchain, First Star Ventures.…

Star Girl’s one million active users go with the Flow blockchain

Dapper Labs is continuing to expand partnerships with third-parties for its Flow blockchain, with Animoca Labs set to launch two crypto-powered games on Flow. On September 22, blockchain gaming firm Animoca Brands announced that its MotoGP and Star Girl games will launch on the Flow blockchain early next year. Animoca is an investor in Dapper Labs. The Star Girl series consists of multiple free-to-play mobile games owned by Animoca and claims a monthly user base of one million players. Dapper Labs’ chief business officer, Mik Naayem, welcomed Animoca’s titles onto…

RockX launches $20 million investment program for the Polkadot ecosystem

Digital asset development company RockX has launched a $20 million investment program to support the Polkadot (DOT) ecosystem over the next five years. The funding, capped at a maximum of $500,000 worth of DOT tokens per project, will be provided alongside technical support from the team’s developers. In return, the firm will receive tokens or equity from supported projects. RockX, which currently runs a node for Polkadot, Cosmos, Solana, Oasis, and Terra, was co-founded by Alex Lam, who also runs Asia based Bitcoin (BTC) mining facilities RockMiner. CEO Lam said…

Emin Gün Sirer’s $42 million blockchain for DeFi scaling has launched

Avalanche, a blockchain offering scalability to the world of decentralized finance took its mainnet live on Sept. 21.  “From Snowflake to Avalanche, the decentralized platform has come a long way, and its journey has only just begun,” Ava Labs said in a Sept. 21 statement on the mainnet launch. Ava Labs is the entity responsible for building the Avalanche blockchain and project. Emin Gün Sirer, ranked 52nd on Cointelegraph’s list of the top 100 people in crypto and blockchain, serves as Ava Labs’ CEO.  Avalanche runs its own consensus protocol, paving the…

$165 Million Bitcoin Moved to Ethereum after Uniswap’s UNI Token Launch

Key Takeaways Over 15,000 WBTC was minted since Sept. 17 prompted by UNI token yield farming incentives on Uniswap.  The comparative returns for Bitcoin-based pools are higher than Ethereum and Chainlink on DeFi platforms like yEarn Finance.  Curve added a new HBTC pool alongside the existing BTC-based pool backed by RenBTC, wBTC and sBTC.  Share this article WBTC (Wrapped Bitcoin) added 10,800 tokens 24 hours after UNI token launch, taking the amount Bitcoin locked in DeFi to $1.2 billion. High returns on Bitcoin-specific pools is another impetus for the mass…

MicroStrategy Outperforms Nasdaq Composite After $175 Million Bitcoin Purchase

Key Takeaways MicroStrategy made its second Bitcoin purchase, pushing total non-cash holdings to over $425 million worth. The company’s stocks soared more than 9.3% on the news. Investor responses may indicate latent positive sentiment toward digital assets Share this article MicroStrategy (NASDAQ: MSTR) stocks rose over nine percent as their CEO revealed the company had purchased another $175 million in Bitcoin. The investment makes up part of the firm’s strategy to diversify the company’s cash holdings.  MicroStrategy Turns to Bitcoin to Protect Value MicroStrategy has made a large purchase of…

Japanese Crypto Exchange Sues Binance for Role in $63 Million Bitcoin Hack 

Key Takeaways Japanese business owner sues Binance for helping hackers launder funds stolen from Zaif cryptocurrency exchange in September 2018. Fisco, the exchange that took Zaif over, is the entity leading the lawsuit. The court filings accuse Binance of continuing with its “lax” policies even today. Share this article In 2018, hackers stole digital assets worth $63 million in Bitcoin, Bitcoin Cash, and Monacoin from the Japanese crypto exchange, Zaif. The plaintiff now argues that Binance is partly responsible for platforming the laundering of $9.4 million in stolen funds.  Binance’s…

Microstrategy Invests Another $175 Million in Bitcoin, Pushing Holdings to $425 Million

MicroStrategy, a U.S. business intelligence company, released a K8 form informing the SEC and the public that the company may increase its Bitcoin holdings beyond the initial $250 million investment in August.  Since the filing, the company has invested another $175 million in BTC. MicroStrategy Bets on Bitcoin, Again MicroStrategy’s new policy enables them to regularly transform parts of their passive cash assets into Bitcoin, without any further notice to the SEC.  Twenty-four hours after the news went public, Michael Sayler, the firm’s founder, announced that MicroStrategy acquired 16,796 additional Bitcoin,…

bZx’s Third Exploit of 2020 Ends With $8 Million Lost

Key Takeaways bZx marked it’s third exploit of 2020, losing $8.1 million of funds to a vulnerability in the code. The BZRX token fell by 30% in the aftermath of the incident, as the burden of the loss was shifted to the insurance fund. bZx’s fate rests with the broader DeFi community and whether they decide to return to the protocol as users. Share this article Less than two weeks after re-deploying on mainnet, bZx has been exploited for $8.1 million of LINK, ETH, and stablecoins. The incident caused the…

IRS doubles down, investing another quarter million dollars into tracking crypto transactions

On Sept. 8, the IRS’s criminal investigation department signed a $249,900 contract with a blockchain analytics firm to expand its crypto tracing tools.  The contract provides limited information, but it follows an overarching trend of the IRS stepping up its game when it comes to crypto.  The firm behind the contract, Blockchain Analytics and Tax Software, is a relative unknown compared to familiar faces in analytics like Chainalysis. The firm’s only prior government contract was for only $9,800 with the U.S. Treasury for serving as an expert witness. Just last week…