The Block
Quick Take Bitcoin DeFi protocol Threshold is proposing to merge its version of wrapped bitcoin with WBTC. The move comes after WBTC custodian BitGo announced Justin Sun’s BiT Global would become a multi-sig key holder, raising concerns among some industry participants.
Quick Take Started by former Coinbase and Square employees, Bridge is building a stablecoin-powered money movement platform. Bridge’s backers include Sequoia, Ribbit, Index and Haun Ventures.
Quick Take In an interview with TIME, President of El Salvador Nayib Bukele said the monetary experiment to make bitcoin legal tender has had mixed results. The cryptocurrency has seen limited domestic adoption, though remains a “net positive” for the country.
Quick Take Orderly Network said its official Discord channel has been compromised in a warning to users to not click any links. The news comes a few days after the protocol launched its native ORDER token and staking program. An estimated $1.2 billion has been lost to crypto hacks and scams in 2024 alone, according to Immunefi.
Layer 1 blockchain Kaia from Kakao and LINE launches its mainnet and invites Telegram-style apps.IREN posts a record $184.1 million in annual bitcoin mining revenue as its hashrate capacity nearly doubles.Edge Matrix Chain raises $20 million in a funding round led by Polygon Ventures and Amber Group.The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Quick Take Time.fun has raised $3 million from Brevan Howard Digital, Coinbase Ventures and others. Time.fun is a time tokenization platform built on Base.
Quick Take Transak has partnered with Sony to provide fiat onramps for their blockchain project Soneium. The partnership will enable users to employ traditional payment methods to onboard into the ecosystem.
Quick Take It almost seems as if Gary Gensler is actively trying to secure the presidency for Donald Trump. This column is adapted from The Scoop newsletter.
Quick Take The acquisition expands Alchemy’s presence in Europe, and the firm will continue to “invest in Bware’s Romanian presence and team.”
Former President Donald Trump posted to X that later Thursday he would unveil a plan to ensure the United States is the “crypto capital of the planet.” He also tagged World Liberty Financial in the post, a DeFi project his sons have promoted.
