Cryprocurrencies and a hooded hacker

New Scam Targets Victims of Blockchain Deception

A disturbing trend in the Chinese blockchain industry reveals a new scam targeting victims of cryptocurrency fraud, with fake lawyers exploiting their vulnerability for further financial gain. One victim, defrauded of $70,000 by a fraudulent lawyer after falling victim to a $100,000 pig butchering scam, exemplifies the severity of the situation.

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Dencum upgrade depiction

Dencun Upgrade Activated On The Ethereum Mainnet Ushering a New Era of Scalability

The Ethereum mainnet has successfully implemented the anticipated Dencun upgrade, marking a pivotal moment in the platform’s evolution. With the activation of EIP-4844 and other key proposals, Ethereum enters a new phase of enhanced scalability and reduced gas fees, promising significant improvements for users and developers alike.

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Paradigm banner stamped FUNDS

Paradigm Nears Landmark Investment in Monad Labs, Eyeing Over $200 Million Funding Round

Paradigm, a leading venture capital firm, is currently in advanced discussions to spearhead a substantial funding round for Monad Labs. The investment, which is anticipated to exceed $200 million, is positioned to be one of the most significant funding rounds within the cryptocurrency sector for the year 2024. Founded in 2022 by two former employees of Jump Trading, Monad Labs entered the scene with an ambitious objective: to construct a high-speed Layer 1 (L1) blockchain platform aimed at outpacing Ethereum in terms of performance and scalability.

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Domon and Bitcoin

JPMorgan CEO Jamie Dimon Urges Fed Caution on Interest Rates, Maintains Criticism of Bitcoin

JPMorgan CEO Jamie Dimon recently addressed the Australian Financial Review business summit, expressing caution regarding interest rate cuts by the Federal Reserve and maintaining his critical stance on Bitcoin. Dimon emphasized the importance of data-dependency for the Fed and warned against premature actions that could jeopardize its inflation-fighting credibility.

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Arbitrum banner and a donation button

Arbitrum DAO Withdraws Proposal to Donate $1.28M to Tornado Cash Developers’ Legal Defense Amid Legal Concerns

Arbitrum DAO has retracted a proposal to contribute approximately $1.28 million worth of ARB tokens to assist Tornado Cash developers Roman Storm and Alexey Pertsev in their legal battle. The decision came after token holders expressed apprehensions about potential legal ramifications associated with such donations.

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MOONbird banner stamped SALE

Moonbirds Co-Founder Kevin Rose Liquidates NFT Collection Amidst Industry Shifts

Moonbirds co-founder Kevin Rose has recently decided to liquidate his NFT collection, selling off various prized assets including the Fidenza 531 and xcopy’s “When Airdrop?” NFTs. In addition to selling NFTs, Rose transferred ownership of CryptoPunk 6419 and two Ethereum Name Service (ENS) domains, indicating significant changes in his digital asset portfolio. This move coincides with broader industry shifts, including Yuga Labs’ acquisition of Moonbirds’ NFT development team PROOF, suggesting a strategic realignment within the NFT space.

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OpenAI’s Sam Altman Welcomes New Board Members and Reflects on Challenges

In a recent post, Sam Altman, CEO of OpenAI, expressed gratitude for the resilience of the team during challenging times and announced the addition of new board members. He stated, “I’m very happy to welcome our new board members: Fidji Simo, Sue Desmond-Hellmann, and Nicole Seligman, and to continue to work with Bret, Larry, and Adam.”

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Optimism private sale

Optimism Foundation Initiates Private Sale of Governance Tokens

“The Optimism Foundation has initiated a private sale of approximately 19.5 million governance tokens (OP) to private individuals, valued at over $89 million. These tokens, which account for 30% of the initial OP token supply, will be subject to a two-year lock-up period. The sale, sourced from the Unallocated portion of the OP Token treasury, aims to bolster the Foundation’s working budget and facilitate community participation in governance.”

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LENA Network banner and car crash

LENA Network’s Token Plummets Over 80% Within Hours of Launch, Deployer Transfers Funds to OKX

LENA Network, a liquidity protocol that recently raised over 800 ETH, faced a staggering setback as its token plummeted over 80% within hours of its launch. The project’s Deployer transferred a significant sum, totaling 753 ETH (equivalent to $2.9 million), to the cryptocurrency exchange OKX, adding to concerns surrounding the token’s sharp decline.

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Grayscale and Bitcoin

Despite High Fee, Grayscale’s GBTC Sees Resilience Amid Bitcoin’s Record Highs

As Bitcoin achieves fresh record highs against the dollar, Grayscale’s GBTC remains resilient, with its assets under management holding steady at $28.4 billion. Despite experiencing significant outflows totaling $9.2 billion since its conversion to a spot Bitcoin exchange-traded fund, Grayscale’s AUM remains largely unaffected. Analysts attribute this resilience to the recent surge in Bitcoin’s price, which has offset the fund’s outflows. Grayscale’s approach to management fees, though contentious, is proving to be a savvy business move amidst the ongoing market dynamics.

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