The Block
Quick Take Decentralized gaming ecosystem Treasure has launched on mainnet after its DAO approved a migration to ZKsync. The project initially planned to build using the Arbitrum Orbit toolkit.
Quick Take Haun Ventures and Dragonfly Capital have co-led a $9 million funding round for Commonware, a startup building “state-of-the-art” blockchain primitives that enable developers to fine-tune their networks. Commonware unveiled its latest building blocks, consensus::simplex, on Wednesday.
Quick Take Some in the crypto industry want SEC Commissioner Caroline Crenshaw out, citing a speech she made following the approval of spot Bitcoin exchange-traded products earlier this year. Crenshaw voiced concerns that spot Bitcoin products were subject to fraud and manipulation and said she was concerned investors may believe that they offered some protections when they do not.
Quick Take Enclave Markets CEO David Wells sheds light on Enclave’s model, the maturing crypto market, and the potential for more sophisticated trading.
Quick Take In a newly published report, Citi analysts said stablecoin adoption and growth could “reinforce the U.S. currency’s longstanding global dominance.” Accounting for “more than four-fifths of cryptocurrency trading volume,” stablecoins, which are mostly pegged to the U.S. dollar and backed by both USD cash reserves and U.S. Treasuries, challenge the narrative that bitcoin will end the fiat currency’s dominance, said Citi.
Quick Take Solana’s liquid staking protocol, Marinade Finance, is discussing a governance proposal to tackle malicious validators and democratize MEV on Solana. A researcher also recently raised concerns about so-called MEV bots involved in sandwich incidents on Solana. Marinade proposed a “balanced” approach by mitigating harmful MEV while democratizing natural MEV.
Open Builders has introduced Earn, a launchpool platform designed to reward Telegram Wallet users for simply holding TON-based tokens.Earn rewards come from new project launches airdropping their tokens to holders of existing TON-based coins, starting with BUILD and NOT PX.
Quick Take Ray Dalio shared his preference for gold and bitcoin over debt assets as indebtedness affects major economies worldwide. “I want to steer away from debt assets like bonds and debt, and have some hard money like gold and bitcoin,” the founder of the world’s largest hedge fund said. Dalio was notably critical of bitcoin in previous years.
Quick Take Decentralized exchange Balancer has launched its V3 platform upgrade, focusing on liquidity optimization and improved developer tools. Balancer V3 introduces 100% Boosted Pools in collaboration with DeFi lending protocol Aave and a Hooks Framework for developers to extend pool functionality.
Quick Take FTX has agreed to drop its lawsuit against Bybit in a settlement that would allow FTX to collect around $228 million. Earlier this month, a U.S. bankruptcy court approved FTX’s reorganization plan to repay its creditors.
