The Block
Quick Take The accounting standard update will allow firms to use fair-value accounting for certain crypto held on their balance sheets.
Quick Take Blockstream is set to roll out Series 2 of its Bitcoin mining hardware investment product, the Blockstream ASIC (BASIC) Note, following oversubscription for Series 1. Series 2 aims to offer non-US investors an investment vehicle that taps into the Bitcoin ASIC market, with a focus on efficient miner acquisition and bitcoin-denominated returns.
Quick Take Development firm Coti plans to launch an Ethereum Layer 2 in an upcoming upgrade. Coti’s infrastructure will shift from its DAG protocol to the Ethereum Layer 2. The initial test network for Coti V2 is scheduled for release in 2024.
Quick Take NodeKit raised $1.2M in a pre-seed funding round for its Avalanche-based platform, SEQ — a Layer 1 subnet that aims to enable performant rollup chains.
Quick Take A decentralized exchange aggregator from OKX appears to have suffered a $2.7 million exploit following a private key leak, according to security analysts. The team confirmed a deprecated smart contract on OKX DEX had been compromised, promising to reimburse affected users.
DWF Labs came into the limelight earlier this year as controversy arose around the promotion of its partnerships with crypto projects.Here’s a look at how DWF Labs structures its OTC trades, VC deals and market-making services.Executives at DWF Labs have a tendency to talk about price management for clients, according to multiple sources, as well as documents and messages obtained by The Block.
Quick Take Su Zhu, co-founder of the defunct crypto hedge fund Three Arrows Capital, who was arrested for not cooperating with liquidation efforts, is set to be released this month, Bloomberg reported. Zhu also faces questioning in a two-day Singapore court hearing this week as liquidators seek to reclaim $3.5 billion for 3AC’s creditors.
Quick Take Rainbow, a mobile and browser-based crypto wallet, introduced a points program. On Dec. 11, Rainbow took a snapshot of Ethereum user activity for program eligibility. Every Ethereum user was allotted a minimum 100 points as an incentive to engage with the platform. Additional points were offered to MetaMask users who used its swaps service in the last year.
Ark Invest sold another 82,255 Coinbase shares on Tuesday — worth around $11.5 million — from three of its funds.Ark’s latest fund rebalancing follows the offloading of $1.9 million in COIN stock on Monday and $100 million last week.
Quick Take LINE NEXT plans to officially launch a global NFT platform called DOSI in January 2024, with fresh investment led by a Peter Thiel-backed private equity firm.
