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Firewall Raises $3.7M to Take Smart Contracts Mainstream with Programmable Finality

San Francisco, USA / California, March 7th, 2024, Chainwire

Firewall secures funding from North Island Ventures, Breyer Capital, and Hack VC to bulletproof smart contract networks.

Firewall, a blockchain infrastructure startup, announced its $3.7M pre-seed round, co-led by North Island Ventures, Breyer Capital, and Hack VC. Firewall transforms the usability of smart contract technology through an innovative finality consensus mechanism that eliminates smart contract exploits.

The founders of Firewall, previously the first and sixth employees at Staked—a staking company acquired by Kraken in a landmark crypto deal—have helped breathe life into the eras of proof-of-stake and decentralized finance over the last six years. In that time, the founders served institutional clients with infrastructure that handled billions of dollars, and now building on their experience, are addressing what most perceive as the final major hurdle to a full embrace of digital assets by the traditional financial system.

“Firewall is building the safety rails that enable the everyday person to use the next era of the Internet,” stated Devan Purhar, Co-Founder of Firewall. “Today, billions of dollars are stolen from users, through irreversible transactions that are classifiable as theft. There’s a parallel between the current state of crypto-networks and the early internet, with a similar lack of essential security infrastructure. Our focus is not on marginal improvements; rather, we bring a required paradigm shift in the usability of blockchains. We designed a solution from first principles, and created programmable finality. Fundamentally, we make exploits a concept of the past.”

Akin to a digital version of a traditional network’s firewall, Firewall’s technology introduces “programmable finality”. It extends rollups to use programmable transaction finalization rules, which act as automated checkpoints that block harmful transactions, inserted before later stages when the data is finalized by a DA layer such as EigenDA or Celestia. The founders envision Firewall as a part of every smart contract network, acting as an embedded security system that intelligently guards against threats.

“Firewall uses real-time algorithms to pre-filter exploits from being included in blocks,” shared Sam Mitchell, Firewall Co-Founder. “Then, by using programmable finality we automatically recover from any exploits that bypass the pre-filter checks. Detection at this stage can involve AI models or social consensus, which may take longer.” Mitchell emphasized that institutions, managing trillions in assets, are interested in the benefits of smart contracts but require a secure environment to deploy capital. “Creating comfort for institutional clients to use smart contracts will be the pivotal point for the widespread adoption of digital assets.”

Past the founders, the core team is credited with successfully pioneering AI use in crypto threat detection at OpenZeppelin and Forta, and is set to revolutionize the field with Firewall’s all-encompassing security approach. The startup’s initial focus is on the rollup ecosystem, and prides itself on alignment with building non-custodial and trustless solutions. The funding will help expand the team and create the community to “firewall the EVM”. Longer-term plans include developing coordination mechanisms to integrate the social layer directly into the Firewall.

Travis Scher, Managing Partner at North Island Ventures, said “We believe the primary impediment to crypto’s mainstream adoption is the current security paradigm, in which a single bug can lead to a total loss of user funds. Firewall’s solution can prevent such losses, and we are thrilled to support such an important company from the outset.”

The funding round was co-led by North Island Ventures, Breyer Capital, and Hack VC, with participation from Finality Capital, and angels including Tim Ogilvie of Staked, Kain Warwick and Jordan Momtazi of Synthetix, Nathan McCauley of Anchorage, and Yaoqi Jia of AltLayer.

“Firewall is making blockchains safer for users, developers, and institutions,” said Ted Breyer of Breyer Capital. “We see this catalyzing a new era of smart contract utility, and we’re delighted to support the team.”

With the growing global adoption of crypto and regulatory spotlight, catalyzed by the BTC ETF and anticipated ETH ETF, the time for crypto-networks to become bulletproof is now. Trillions of dollars remain on the sidelines, scared to use smart contracts. Firewall’s “programmable finality” which effectively neutralizes exploits, offers the security assurance needed to unlock these assets, paving the way for crypto to revolutionize the global financial system.

About Firewall

Firewall is dedicated to making smart contract technology safe to use in everyday life, by eliminating smart contract exploits. Their solution is akin to a robust network firewall, applied to the modular blockchain ecosystem.

Contact

Co-Founder
Devan Purhar
Firewall
devan@usefirewall.com

MANTRA Chain Set to Launch Hongbai Testnet As Vision for Tokenized RWAs Accelerates

Press Releases

Dubai, UAE, March 7th, 2024, Chainwire

RWA focused blockchain, MANTRA is excited to announce the upcoming launch of the MANTRA Chain Hongbai Testnet, scheduled for. The development marks a significant step in MANTRA’s mission to revolutionize the DeFi ecosystem by integrating it with traditional markets and attracting non-crypto native users and institutions.

Following the success of its first testnet in November, which garnered strong support from 100 active validators, MANTRA aims to build on the momentum with its Hongbai successor. This new phase aims to attract more users and decentralized applications (dApps) to its ecosystem, further solidifying its position as a major player in the tokenized RWA space.

A Layer-1 blockchain focused on Real-World Assets, MANTRA Chain enables regulatory-compliant assets and protocols at the protocol level and leverages the robust infrastructure of the Cosmos SDK. Assuring interoperability through the IBC protocol and compatibility with CosmWasm contracts, MANTRA Chain is at the heart of the platform’s vision to unlock a $16 trillion RWA market by 2030.

The architecture of MANTRA Chain, which is secured by a sovereign Proof of Stake (PoS) validator set and the CometBFT consensus mechanism, is divided into five core layers: staking, interoperability, execution, module and application. These layers are meticulously designed to meet the demands of an RWA-focused blockchain infrastructure, offering decentralization, security, and a set of regulatory-compliant frameworks.

MANTRA’s DAO-approved $OM token offers various governance utilities and rewards for stakers. As well as allocating a total of 1.35x rewards to all stakers, $OM serves as the standalone network token for accessing and performing all on-chain services and activities.

Committed to supporting developers, institutions, and builders looking to create, trade, and manage various RWAs on-chain, MANTRA’s key modules (Guard Module, Token Service Module, Liquidity Module, and Compliance Module) form part of the Composable Module Layer, ensuring adherence to regulatory requirements at the protocol level.

As a fully compliant multi-asset platform, MANTRA represents a useful bridge between the worlds of Traditional Finance (TradFi) and Decentralized Finance (DeFi), paving the way for both institutional and individual retail investors to participate in the latter. While the platform’s execution layer MANTRA Chain generates revenue through a SaaS subscription model for dApps deploying on-chain, its DEX module offers unique tokenized RWAs that are not available for trading or investment on other blockchain networks.

About MANTRA:

MANTRA is a Security first RWA Layer 1 Blockchain, capable of adherence and enforcement of real world regulatory requirements. Built for Institutions and Developers, MANTRA offers a Permissionless Blockchain for Permissioned applications.

Contact

Marketing Lead
Christoph Lidman
press@mantrachain.io

Bitcoin Hits Historic $1.35 Trillion Market Cap, Surpassing Silver

Bitcoin/Crypto News Today

On March 5, Bitcoin’s market value soared to an unprecedented peak of $1.35 trillion, marking a significant milestone in the cryptocurrency’s history.

This surge was fueled by a 3.35% increase in Bitcoin’s price over the previous 24 hours, reaching $67,322 by 12:55 pm UTC.

Over the past week, the first-ever cryptocurrency saw an impressive gain of over 17%, as reported by CoinMarketCap.

This record-setting performance momentarily positioned Bitcoin as the world’s eighth-largest asset, surpassing the $1.347 trillion market cap of silver, the globe’s second-most valuable precious metal, as per CompaniesMarketCap.

The remarkable climb followed a record-breaking daily close of $68,245 on March 4, eclipsing its prior highest close of $67,525 on November 8, 2021.

This development has fueled predictions by analysts that Bitcoin’s price might hit the $100,000 threshold by the end of 2024.

A significant factor contributing to Bitcoin’s bullish momentum has been the recent approval of spot Bitcoin exchange-traded funds (ETFs) in the United States.

A March 4 Bitfinex research report highlighted a 44% surge in Bitcoin’s value in February, attributing the growth to a $7.5 billion investment in Bitcoin ETFs.

This influx not only catalyzes market expansion but also underscores a positive market sentiment and the potential for further investment.

Furthermore, Bitcoin futures on centralized exchanges have witnessed record-high open interest, signifying strong investor confidence in a continuous uptrend.

Bitfinex analysts noted that the total open interest for Bitcoin futures contracts exceeded $26 billion on March 1, breaking the previous high of $24 billion set in late 2021.

Adding to the flurry of activity, MicroStrategy, the leading corporate investor in Bitcoin, announced plans to raise $600 million to finance additional Bitcoin purchases.

The funding, disclosed in a March 4 X post by executive chairman Michael Saylor, will be sourced through senior convertible notes, highlighting the company’s ongoing commitment to Bitcoin investment amidst a buoyant market.

Read the latest crypto news today

Montenegro’s Appellate Court Blocks Do Kwon’s Extradition to the U.S., Citing Legal Violations

Crypto News Today/DeFi

The legal drama surrounding Terraform Labs co-founder Do Kwon persists as Montenegro’s Appellate Court has once again overturned a lower court’s ruling favoring his extradition to the United States.

This development, announced on March 5, signifies another twist in the complex saga of Kwon’s potential extradition, highlighting ongoing legal debates and procedural disputes.

Previously, on February 20, the High Court of Podgorica had sanctioned Kwon’s extradition to the U.S. to face criminal charges related to multiple offenses.

However, the Appellate Court identified “significant violations of the provisions of criminal procedure” within the local legal framework, questioning the foundational reasons behind the extradition request’s approval.

The statement from the Appellate Court pointed out the lack of “clear and valid reasons for decisive facts regarding the order of arrival request letter,” casting doubt on the procedural integrity of the extradition process.

This recent decision underscores the legal challenges and intricacies faced by courts in Montenegro as they navigate international law and bilateral extradition requests.

Kwon’s arrest in Montenegro in March 2023 marked the beginning of an intricate extradition process, fueled by demands from both the U.S. and South Korea.

The legal journey saw the Appellate Court of Montenegro cancelling an earlier decision in December 2023, which had approved Kwon’s extradition, instructing a retrial at the Podgorica Basic Court.

The narrative is further complicated by the background of Terraform Labs, the entity behind the Terra blockchain.

The company experienced a catastrophic collapse in May 2022 when its Terra stablecoin and Luna token plummeted, allegedly due to fraud.

The U.S. Security and Exchange Commission accuses Terraform Labs and Kwon of orchestrating a fraudulent scheme that erased around $40 billion from the market.

This ongoing legal battle in Montenegro reflects the international dimensions of cryptocurrency regulation and the challenges of prosecuting alleged financial crimes across borders.

The saga of Do Kwon continues to unfold, illustrating the complexities of international law, the intricacies of extradition processes, and the broader implications for the cryptocurrency industry.

Read the latest crypto news today

After the Chatbot Hype Subsides, What Next for AI?

Crypto News Today

ChatGPT was one of the hottest tech stories of 2023, reaching 100 million monthly active users after just a few months and spawning endless op-eds about the “age of AI.” Today, OpenAI’s flagship product boasts a user base of 180 million and attracts a billion web visitors each month.

While many commentators marvel at AI’s evolution and cite ChatGPT’s impressive 100 billion daily word output, the scope of chatbots is rather limited. Sure, they can help to produce reports, write emails, generate code scaffolding, and enact customer service interactions. Still, human-like conversation ability, conveyed via words on a screen, is only helpful in certain industries and for very specific tasks.

Large swathes of the labor market have little use for ChatGPT or chatbots generally. But that doesn’t mean they aren’t leveraging AI in other ways.

AI’s Unstoppable Trajectory

AI-powered robots, for example, are already heavily involved in the automotive industry, particularly in the manufacture of new vehicles. AI, of course, is intrinsically linked to the development of autonomous cars.

Elsewhere in industry, AI-powered predictive maintenance systems can prevent equipment failures, while generative AI can optimize product design in a host of different sectors.

Just last week, Microsoft, Nvidia, and OpenAI were among a long list of investors who participated in a funding round for AI robotics firm Figure, with the $675 million raise giving the company a valuation of $2.6 billion. The California-based Figure is currently working on developing general-purpose, human-like robots that can be deployed commercially – including in factories and warehouses.

Between LLMs, whose specialty is words, and other emerging systems and models with more hands-on ability, AI is on a seemingly unstoppable trajectory. Even when the hype around ChatGPT inevitably subsides, the sheer number of practical use cases and major investments (including those made by governments) flowing into AI projects will ensure the momentum continues.

It is not easy to say which verticals will see the most traction but projects operating at the intersection of AI, robotics and spatial computing are likely to be heavily represented. Goldman Sachs analysts expect the AI-powered humanoid robot market to reach $38 billion by 2035. Spatial computing, meanwhile, is predicted to hit $705 billion by 2033.

How Spatial Computing Brings AI Into the World

Spatial computing has received less media attention than AI, but it’s starting to be recognized as a major innovation. This cutting-edge technology enables machines to better understand their environment and allows humans to interact with computers in meatspace rather than through a screen.

By combining a 3D-centric form of computing (VR, AR, XR, etc) with AI and machine learning, projects working in this field effectively help AI systems gain spatial awareness, interact with the corporeal world, and break free from the strictures of the internet.

By way of an example, let’s consider a ubiquitous tool: the smartphone. It may be clever, but it’s not spatially aware: how many people have walked directly into a streetlight or pedestrian while busy texting? If your device were spatially aware, it could warn you when you get too close to a hazard.

Hazard perception will be one of the key metrics by which self-driving cars are judged. If spatial computing does its job, autonomous vehicles will navigate the roads with aplomb.

Spatial computing isn’t just about teaching technology to understand space. It can also be used to create three-dimensional models of environments over which digital items can be laid. One use case is in housebuilding, where architects can map a property and create life-like designs on a virtual simulacrum of bricks and mortar. Another is retail.

One project called the posemesh is already demonstrating how spatial computing can serve as the foundational layer for AI to gain spatial reasoning. The ambitious protocol facilitates various use cases in sectors like retail and logistics and comprises a decentralized network for collaborative spatial computing, as well as a domain service processing spatio-semantic data about physical spaces. There’s also an SDK developers can use to connect custom apps to the posemesh.

The brain trust, Auki Labs, building the posemesh believes an “AI confined to the internet will be perpetually disappointing.” It’s an assertion that speaks to the limitations of artificial intelligence interfacing solely through a screen. For AI to come bounding out of the computer, however, it needs an enormous amount of sensor data (from cameras, scanners, microphones, wearables, etc) and the underlying architecture to process it all.

The posemesh addresses this need by allowing devices scattered around the world to form ad-hoc distributed spatial computers, where data and compute resources can be moved within the cluster to optimally solve for participants’ economic interests. Powered by blockchain, the posemesh distributes rewards to participants based on metrics such as data served, sessions hosted, and response time. Network service operators, meanwhile, can stake the protocol’s native token to establish a reputation that can be slashed if they fail to maintain the protocol’s uptime standards.

Debates often rage about artificial general intelligence (AGI), and they mostly center on whether it’s a goal we should even risk trying to achieve (we’ve all seen Terminator 2). But a more obvious staging post on AI’s revolutionary journey concerns its ability to reason spatially, not intellectually: to understand depth, identify danger and move accordingly.

We aren’t there yet. But projects like the posemesh and others are bringing the future into clearer focus. Now, what would ChatGPT have to say about that?

Supreme Court Cases Poised to Reshape U.S. Crypto Regulation

Bitcoin/Crypto News Today/DeFi

Gary Gensler, the head of the U.S. Securities and Exchange Commission (SEC), has been vocal about his concerns regarding the cryptocurrency and blockchain industry, indicating a contentious atmosphere between regulatory bodies and the crypto sector in the United States.

This discord is further amplified by some U.S. lawmakers who oppose Gensler’s stance, challenging the SEC’s approach to regulating crypto assets.

This disparity within the government has created an uncertain environment for crypto projects based in the U.S., largely due to the ambiguous and fluctuating criteria used by the SEC to determine what constitutes a security, primarily relying on the outdated Howey test.

The heart of the issue lies in the mechanism of law creation in the U.S., which differs significantly from that in other countries, leaving the cryptocurrency industry in a precarious position.

Two Supreme Court cases, Loper vs. Raimondo and Relentless, Inc. vs the U.S. Dept of Commerce, are poised to potentially redefine federal agencies’ discretion in interpreting laws, a change that could significantly impact the crypto industry’s regulatory landscape.

At the center of this debate is the principle of Chevron deference, established by the 1984 Chevron vs. Natural Resources Defense Council case.

This legal doctrine allows federal agencies considerable leeway in interpreting laws, provided their interpretation is reasonable and Congress has not explicitly legislated on the matter.

Critics argue this deference has allowed agencies like the SEC to overextend their regulatory reach, especially in rapidly evolving sectors like cryptocurrency.

Coinbase CEO Brian Armstrong has been vocal about the detrimental effects of vague regulations on the crypto industry, pushing for clearer legislation.

The ongoing discussion around the Chevron deference and its potential recalibration by the Supreme Court could empower the public and their elected representatives to demand more precise laws governing digital assets.

The Supreme Court’s decision in the cases of Loper vs.

Raimondo and Relentless, Inc. vs the U.S. Dept of Commerce could narrow the SEC’s interpretative authority, possibly aligning the regulation of cryptocurrencies more closely with Congressional intent.

Attorney Jeremy Hogan, known for his coverage of the Ripple vs. SEC case, highlights the significance of these cases for the crypto industry, suggesting that a ruling against Chevron deference could positively influence major litigation involving digital assets and the SEC.

However, Hogan also notes that the direct impact on the crypto industry might be limited since the SEC primarily relies on the Howey test for regulatory authority over digital assets.

Nonetheless, any mention of cryptocurrencies in the Supreme Court’s ruling could bolster arguments against the SEC’s regulatory overreach.

As the crypto industry continues to evolve, it’s increasingly intersecting with broader regulatory concerns, emphasizing the importance of vigilant and proactive engagement with legal developments.

This dynamic underscores the critical role of legal interpretations and the potential for future cases to shape the regulatory landscape for cryptocurrencies in the U.S.

Read the latest crypto news today

Investiva: Pioneering Excellence in CFD Trading with Innovation and Expertise

Crypto News Today

An Unrivaled Approach to CFD Trading in the Crypto Era

In the dynamic landscape of online trading, Investiva emerges as a beacon of excellence, offering a revolutionary approach to Contracts for Difference (CFD) trading. Celebrated for its outstanding achievements, including the prestigious Finance Feeds Awards 2023 for Outstanding Multi-Asset Trading Platform and the Fund Intelligence Operations and Services Awards 2023 for Best Cryptocurrency Trading Platform, Investiva stands as a trailblazer in the industry.

Investiva Forex Broker Review: An In-Depth Analysis of Excellence

At the core of Investiva’s success is the MarketFlow™ platform, a dynamic and multi-asset solution setting the standard in online trading. This state-of-the-art platform empowers investors to trade over 3,000 assets, including cryptocurrencies, ETFs, Forex, and CFDs. The comprehensive Investiva full broker review reveals a platform that seamlessly integrates advanced risk management tools, making it a standout choice for traders seeking precision and discipline.

Automated Trading with Advanced Risk Management Orders: A Key Feature of Investiva

Investiva redefines the trading landscape with the integration of advanced automated trading systems, embodying the principles of precision and discipline. Through the MarketFlow™ platform, users can deploy advanced risk management orders, such as stop-loss, take-profit, and trailing stop, mitigating emotional influences and ensuring a strategic and disciplined approach to trading.

For instance, consider a scenario where a trader utilizes a trailing stop order on the Investiva Forex Broker platform. As the crypto market experiences volatility, the automated system adjusts the stop level based on the asset’s price movement. This not only helps protect gains but also allows for potential profits in the event of an upward trend, showcasing the power of automated strategies in dynamic market conditions.

Investiva Crypto Trading: Capitalizing on Positive Market Trends

Investiva provides real-time guidance, empowering traders to make informed decisions. Market analysts at Investiva offer personalized insights, guiding users through the intricate world of CFD and crypto trading. By combining advanced analytical tools with expert advice, Investiva ensures its users are well-equipped to navigate the financial markets successfully.

In a recent Forbes article predicting positive trends in the crypto market in 2024, the emphasis on Bitcoin’s potential growth becomes an exciting prospect. Investiva’s MarketFlow™ platform, with its diversified asset options, positions users to capitalize on these opportunities. By incorporating expert guidance, traders can align their strategies with the projected market trends, further optimizing their potential for success.

Customer Support and Transparent Financial Operations: The Hallmark of Investiva CFD Trading

Investiva places paramount importance on customer support, providing multiple channels for users to seek assistance. Whether through email inquiries, real-time live chat, or telephone support at +44 20 3808 7662, users receive professional and efficient assistance with their questions or concerns. This commitment to user satisfaction extends to the transparency in financial operations, with no hidden fees and a user-friendly interface for managing accounts seamlessly.

Elite Club and High Net Worth Investment Opportunities: Elevating the Investiva Full Broker Review

Investiva goes beyond being a trading platform by introducing the Elite Club, where high-net-worth investors enjoy an unparalleled level of access and personalized service. This exclusive community not only provides a suite of world-class services but also aligns with Investiva’s commitment to creating a more sustainable future through corporate responsibility initiatives.

Investiva’s Learning Hub: Educational Resources for Informed Decision-Making

Investiva serves as a knowledge hub for traders of all levels. From basic concepts to advanced strategies, the platform offers a wide range of free educational tools. Join our community and access the Learning Hub, including tutorials, classes, and exclusive 1-on-1 Zoom training sessions with investment specialists. Elevate your trading skills with Investiva.

Boost Your Earnings through Referral Rewards

Maximize your potential earnings by referring friends to Investiva. With a generous offer, you can earn 5% (up to 1,000) from the initial deposit for each unique referral. Simply share your dedicated referral link, and watch your earnings grow as people sign up through it. At Investiva, every successful referral is a step toward increasing your financial gains. Join our referral program today and turn your network into a source of income.

Investiva Security: Safeguarding Your Financial Future

Is Investiva Legit? Is Investiva Secure to Invest?

Investors, rightly cautious in the digital age, often seek assurances regarding the legitimacy and security of trading platforms. At Investiva, security is not just a commitment; it’s a fundamental pillar of our ethos.

Robust Security Protocols

Investiva Utilizing advanced encryption and cybersecurity methods, we ensure the protection of your data and transactions. Investiva prioritizes the confidentiality and integrity of user information, employing the latest technologies to safeguard your financial assets.

Vigilant Monitoring

The systems are monitored around the clock, aligning with the trend of increasing fraudulent activities reported globally. By staying ahead of potential threats, Investiva maintains a proactive stance against cyber threats, fostering a secure environment for traders.

Regulatory Compliance

Investiva adheres international security standards and regulations, recognizing the global increase in financial crime risks. Investiva’s commitment to regulatory compliance ensures that our users trade on a platform that meets the highest industry standards.

Enhanced Security with Investiva: Strong Passwords and 2FA

Investiva empowers users to secure their accounts with robust passwords and the activation of two-factor authentication (2FA) during Login, ensuring a fortified defense against unauthorized access.

Staying Ahead in a Digital World

The digital world brings both opportunities and challenges. Investiva.com is dedicated to harnessing the power of technology to enhance security while remaining vigilant against potential threats. We believe in empowering our users with the tools and knowledge to protect their investments and trade with confidence. At Investiva.com, your security is our top priority. Together, we create a secure, trustworthy, and prosperous trading environment.

In addition to these measures, Investiva proudly holds certificates of GDPR, SOC2, PCI DDS, and ISO/IEC 27001 compliance, further underlining our commitment to maintaining the highest standards of security and privacy for our users.

Investiva invites investors to embark on a journey of financial success, leveraging the innovative MarketFlow™ platform, expert guidance, and a commitment to excellence. Join Investiva today and redefine your approach to CFD trading: Investiva Official Website.

Media Contact:
Contact person: Juliet Emerson – Head of Compliance

Website https://investiva.com/.

Email:Support@investiva.com

Telephone: +44 20 7946 0656

Lines open 09:00 – 16:00 / Monday-Friday

Address: 4-12 Regent St., St. James’s, London SW1Y 4PE

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Bitcoin Price Hits $69K, Investors Who Bought BTC at $100 Buys into BlockDAG Amid Algorand And Bitcoin Dogs Surge

Press Releases

The recent surge in Bitcoin’s price past its previous all-time high, surpassing the $69,000 mark, has sent waves of optimism across the industry, with analysts predicting a boom for Algorand, Bitcoin Dogs, and the emerging BlockDAG (BDAG). This Bitcoin surge is not just beneficial for Bitcoin enthusiasts but also heralds a positive outlook for other cryptocurrencies.

With the Algorand price witnessing a significant rally, Bitcoin Dogs presale stirring the market, and BlockDAG’s ongoing presale bull run, investors have a palpable sense of anticipation. Especially as BlockDAG nears the sell-out of its second presale batch, early investors are on the verge of witnessing 5,000x investment returns.

Algorand Price’s Ascending Arc

Algorand has emerged as a formidable player in the crypto market, with its price experiencing a substantial bullish breakout. The surge in Algorand’s price to a peak of $0.266 marked its highest value since February 2023, signifying a solid rally and propelling its market capitalisation to over $2 billion. This rally is a staggering 200% climb from its 2023 lowest point.

Algorand’s rising reflects a resilient ecosystem despite past pressures, notably within the DeFi sector. With its Total Value Locked soaring to over $242 million, Algorand has demonstrated a 50% increase in the past month alone. This growth underscores Algorand’s potential as a safe investment option for its investors.

The Frenzy Around Bitcoin Dogs Presale

Bitcoin Dogs has captivated the crypto community with its presale. This fervour around the presale, powered by its association with the Bitcoin blockchain, anticipates a bullish ripple effect across the crypto market.

As Bitcoin’s price hit its all time high of over $69,000, there is a lot of sentiment around Bitcoin Dogs and its potential to make new records in future. This connection amplifies Bitcoin Dogs’ appeal and solidifies its position as a compelling investment in the changing crypto world.

Amid escalating excitement, BlockDAG has made a notable entrance as a new contender alongside Bitcoin Dogs, as it swiftly draws investors’ interest due to its promising prospects for substantial investment returns.

BlockDAG Coin’s Bullish Presale

BlockDAG has impressively gained over $2.7 million through its ongoing second batch presale. As the second batch nears sell-out, the upcoming third phase is anticipated to witness a significant price increase.

Early investors who participated in the first batch of BlockDAG’s presale have already achieved a substantial return, with the potential for future returns to surpass 10,000x. BlockDAG’s emergence as the ‘Kaspa Killer’ has brought the newest crypto into the spotlight, attracting attention from investors seeking the next ample opportunity.

This new cryptocurrency stands out for its innovative crypto-mining approach and promising return on investments. BlockDAG’s commitment to offering a user-friendly mining experience and the potential for significant returns positions it as a noteworthy contender in the crypto market.

The BlockDAG mobile application and home mining solutions underscore its dedication to inclusivity and efficiency, appealing to a broad audience, including experienced and novice miners. Moreover, analysts predict BlockDAG prices will reach $10 between 2025 and 2030, making it one of the best crypto investments for significant growth.

Final Thought: The Best Crypto Investment

Bitcoin’s impressive ascent has opened up new opportunities for growth for BlockDAG, Bitcoin Dogs and Algorand price. Each offers a unique proposition to the crypto investor – Algorand’s robust market cap growth and significant TVL increase, the Bitcoin Dogs presale success driven by its Bitcoin affiliation, and BlockDAG’s promising presale performance and mining innovations present compelling narratives.

However, BlockDAG’s blend of early investment incentives, practical mining solutions, and the palpable market excitement surrounding its presale batch makes it an ideal choice for investors seeking the best crypto investment. As we navigate the vibrant crypto market, BlockDAG’s potential to mint substantial wealth for its community positions it as a frontrunner in the race for crypto supremacy.

BlockDAG Presale:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

Disclaimer: This is a sponsored press release that was not produced by Crypto Intelligence’s editorial team.

Trident Digital Group, in Partnership with Membrane Labs, Successfully Executes Next Generation AVAX Loan on Behalf of Electric Capital

Crypto News Today/DeFi

The innovative loan, between Electric Capital and a prominent proprietary trading firm, comes ahead of Trident Digital‘s launch of its Lending Conduit product. The loans were booked and managed via Membrane Labs SOC2 certified loan management system with which Trident partnered in 2023.

This Proof-Of-Concept transaction opens the door for a new form of lending that Trident believes will become the digital asset standard. Their approach draws from traditional finance risk management while adjusting for the nuances of the digital asset market.

“Post Genesis there is little investor appetite for unsecured lending, demand for over-collateralized borrowing, or independent infrastructure available to facilitate bilateral undercollateralized lending on multiple platforms. At its peak the lending market was at $80bn – this creates an incredible opportunity to rebuild the market confidence using appropriate risk and liquidity management approach and Trident is up for the challenge,” said John Wu, President of Ava Labs.

The first-of-its-kind, undercollateralized loan was executed between market leaders in the crypto space. Electric Capital (over $1bn committed capital) lent AVAX to a proprietary trading firm with over $500mm in AUM, which was provided with 4x leverage. Trident has onboarded with Cumberland‘s OTC desk, as well as Wintermute’s, in order for them to facilitate liquidations, if necessary. Loan booking and management was handled via Membrane Labs’ Loan Management System while Trident rolled out the first risk and liquidity management endeavor in the lending space.

“Trident’s approach to security and risk management gave us confidence to lend our assets. Their strategy will help unfreeze the lending market,” expressed Jim Bai, Investor & Trader at Electric Capital.
“The choice of loan management system, counterparties, loan denomination and collateral ratio were given great consideration. For our product to work we needed the terms to be commercial, the counterparties to be real, and the token to be in demand. While BTC and ETH are relatively available, our conduit will focus on lending alt coins so AVAX was a great choice for what we are trying to achieve,” stated Anthony DeMartino, Co-Founder and CEO of Trident.

Trident’s lending conduit structure allows Institutions to engage in loans where both sides have full transparency on the risks being taken. Trident will manage and execute the provisions of the loan as well as diligently monitor the risks and liquidity of the assets backing the loans and will execute liquidations as required.

Trident and Membrane agreed to terms on a partnership where Trident Digital will use Membrane’s Soc 2 certified infrastructure to offer the first of its kind lending solution. Trident’s “Lending Conduit” will allow Institutional lenders and borrowers to connect on appropriate risk adjusted returns. There will be no commingling of loans and no cross contagion risks as the firm seeks to minimize counterparty risk. Trident’s offering also looks to optimize security and transparency for the lenders and offer capital efficiency for the borrowers. The goal is to unlock billions of tokens sitting on lenders’ balance sheets who no longer have the infrastructure to lend their tokens on the proper risk adjusted terms.

“We believe that getting liquidity back to the spot market, specifically in altcoins, will allow for the market to grow on a healthy foundation. This foundation will have spillover benefits for derivatives and DeFi,” voiced Anthony DeMartino, Co-Founder and CEO of Trident.

“Our decision to partner with Membrane was simple, their best in class technology, deep crypto native relationships and their SOC2 certification allows Trident to bring its solution to the market 1 year faster than anticipated,” stated Dr. Amir Sadr, CRO and Head of Product of Trident.

“As the ecosystem bounces back and the appetite for lending returns, Trident is leading the revolution for safe leverage with their novel Lending Conduit structure, built on top of the Membrane platform. Our partnership enables market participants to securely access leverage in a capital efficient way with funds remaining on exchange where it can be usefully deployed,” said Carson Cook, Founder and CEO of Membrane.

With the first Proof-Of-Concept loan executed, Trident will focus on adding additional exchanges, onboarding more large institutional clients and adding derivatives to the platform. Trident is also working with off exchange solution providers to further reduce the risks to our lending platform.

Hong Kong’s SFC Cracks Down on Fake Crypto Exchange Websites, Blocks Six Domains

Crypto News Today

The Securities and Futures Commission (SFC) of Hong Kong has recently taken action against fraudulent websites mimicking prominent local cryptocurrency exchanges.

On March 4, the SFC alerted the public about several deceptive sites posing as two officially licensed crypto trading platforms.

These illicit domains aimed to impersonate OSL Digital Securities and Hash Blockchain Limited, known as HashKey, by creating fake websites such as hskexpro.com, hskex.com, hskexs.com, hskexit.com, oslexu.com, and oslint.com.

These actions were taken after reports surfaced of users facing difficulties withdrawing funds and encountering excessive fees and commissions.

The Hong Kong Police Force has intervened to restrict access to these fraudulent sites at the SFC’s behest.

The SFC has also listed these sites on its official crypto alert list, which includes others that have impersonated exchanges like MEXC, with eight domains mimicking MEXC being blacklisted earlier on February 9.

To combat this issue, the SFC encourages investors to consult its public register for verified trading platforms and a list of licensed virtual asset trading platforms.

This measure is to ensure that investors are dealing with legitimate entities and to avoid any financial losses. The SFC emphasizes the importance of confirming the identity of any trading counterparty before proceeding with transactions.

Bartosz Barwikowski, a layer-1 security expert at Hacken, pointed out the challenges in distinguishing authentic websites from fraudulent ones, especially for first-time visitors.

He suggested that verifying the website’s URL on the SFC’s site is a safety measure, albeit one seldom taken by users.

Barwikowski advises relying on trusted third parties and recommends using mobile apps over websites due to the difficulty in counterfeiting them.

He also emphasizes the importance of checking for a significant number of reviews before trusting these apps and suggests consulting reliable sources such as government websites or cer.live for exchanges.

This crackdown on fake crypto websites comes shortly after the SFC closed the latest licensing cycle for crypto exchanges on February 29.

Exchanges that missed the application deadline are required to cease operations in the region within three months, marking a significant step in Hong Kong’s efforts to regulate and secure the cryptocurrency trading environment.

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