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Daily News Summary 16/10

October 16, 2024 Tóth Balázs
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World Liberty Financial Launches Token Sale

World Liberty Financial, a DeFi protocol launched with the support of Republican presidential candidate Donald Trump, has begun its token sale. They plan to sell 20% of the token supply, which amounts to 20 billion tokens, each priced at $0.015. The sale is currently ongoing.

Will Grayscale's Mixed Fund Convert to an ETF?

Grayscale Investments has submitted an application to the U.S. Securities and Exchange Commission to convert its popular mixed crypto fund, the Digital Large Cap Fund (GDLC), into an exchange-traded fund (ETF). This fund, holding $524 million in assets, is primarily composed of BTC and ETH, which together account for 94% of the portfolio.

Praxis's Vision of a New Tech City

Praxis, which promotes itself as the world’s first “Network State,” has announced it has secured $525 million for a tech development project focused on cryptocurrency, artificial intelligence, energy, and biotechnology. Investors include Arch Lending, GEM Digital, Manifold Trading, among others. The goal is to build a city that attracts entrepreneurs and fosters technological breakthroughs.

Bitnomial Launches Futures Trading Platform in the U.S.

The American derivatives trading platform, Bitnomial, has announced it raised $25 million in a funding round led by Ripple Labs. The company is launching a crypto futures trading platform in the U.S., known as Botanical. Bitnomial is one of the few companies with a license from the U.S. Commodity Futures Trading Commission (CFTC) to operate a designated contract market for crypto futures and options trading.

Kraken Supports Restaking

Kraken, the crypto brokerage, now offers non-U.S. customers the ability to restake their previously staked ETH on the Ethereum network to earn additional rewards through projects on the EigenLayer DeFi protocol. This service will be available through Kraken’s subsidiary, Staked. According to DefiLlama, the total value locked in liquid restaking tokens has surged by more than 3,000% this year, reaching approximately $11 billion.

Cosmos Staking Warning

All in Bits (AiB), the developer of the Cosmos ecosystem, issued a warning about serious security risks associated with the Cosmos Hub Liquid Staking Module (LSM). A significant portion of the LSM code was written by North Korean developers. LSM is not a standalone module but a modification of existing staking, distribution, and slashing modules, potentially affecting all staked ATOM tokens.
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