The Block
Quick Take The NEAR Foundation has spun off Nuffle Labs, which raised $13 million in funding. Nuffle Labs builds out NEAR’s Data Availability Layer, the NEAR Fast Finality Layer and other tools in the NEAR modular product suite.
Many institutional players may wait for staking before allocating into spot ether exchange-traded funds, an analyst said.
With the rate cycle heading dovish and a new crypto cycle underway, DeFi lending markets are waking up, according to analysts at Bernstein.DeFi yields could rise above 5% and beat U.S. dollar money market funds, reigniting crypto credit markets and adding fuel to digital asset prices, the analysts said.
MicroStrategy has proposed a $500 million convertible senior note offering “to acquire additional bitcoin and for general corporate purposes.”The firm, which already holds 214,400 BTC, also announced the redemption of $650 million of its 2025 convertible senior notes.
Quick Take Chris Amani, CEO of Terraform Labs, said the firm plans to dissolve its operations. Amani urged the community to take over the reins of the Terra network.
Quick Take The association is expected to formulate self-supervisory rules under the government’s guidelines. Taiwan’s Financial Supervisory Commission currently requires crypto firms to register with the regulator for anti-money laundering compliance.
Quick Take Around $3.7 million was stolen from UwU Lend today, according to blockchain security firms. The decentralized lending protocol was hacked for about $20 million on June 10, after which UwU stated that the vulnerability had been fixed.
Quick Take Polygon ID has been spun off from Polygon Labs as Privado ID, targeting the mainstream digital identity market. Privado ID follows the modular blockchain project Avail in spinning out of Polygon Labs.
The price of Curve DAO fell nearly 25% in the past 24 hours. This puts Egorov’s loans on lending protocols — using Curve DAO token as collateral — at risk of being liquidated.
The U.S. spot bitcoin ETFs saw net inflows of $101 million on Wednesday.Fidelity’s FBTC led inflows with $51 million.
