Analyses

Daily News Summary 28/6

June 28, 2024 Tóth Balázs
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Coinbase Partners with Stripe

Crypto broker Coinbase has partnered with payment company Stripe. As a result, Stripe will support Coinbase’s layer 2 network, allowing Base users to utilize USDC through Stripe to simplify fiat-to-crypto conversions and facilitate money transfers. Additionally, Coinbase will integrate Stripe’s fiat-to-crypto onramp into the Coinbase Wallet, enabling users to purchase crypto assets instantly with credit cards and Apple Pay.

New Star in the Ethereum Ecosystem

MegaLabs, the developer of the new blockchain MegaETH, has raised $20 million in a seed funding round led by Dragonfly, with participation from notable figures such as Vitalik Buterin and ConsenSys founder Joseph Lubin. MegaETH claims to be the first real-time blockchain, capable of processing transactions in real-time while maintaining full Ethereum compatibility. The goal of MegaETH is to achieve 100,000 TPS.

Aptos Partners with Alibaba Cloud in Asia

The Aptos Foundation has announced a partnership with Alibaba Cloud to jointly develop Japan’s web3 ecosystem and improve regional accessibility. This collaboration has resulted in the creation of Alcove, Asia’s first joint Move developer community, aimed at enhancing accessibility and fostering innovation across the region.

Logan Paul Sues Coffeezilla

Popular influencer and internet personality Logan Paul has filed a defamation lawsuit against YouTuber Stephen Findeisen, better known as Coffeezilla. The lawsuit stems from a 2022 three-part YouTube series about Paul’s failed NFT game, CryptoZoo, alleging Paul’s involvement in the crypto scam. The suit seeks $75,000 in damages, claiming that Paul was falsely accused to boost viewership.

Yield App Rekt

Yield App has announced that it will cease all activities on its platform and wind down operations. Community channels will also be suspended, leaving only a support channel open. The bankruptcy is attributed to the Yield App’s assets being held on the collapsed FTX platform, and with the legal proceedings dragging on, the decision was made to shut down permanently.

21Shares Also Files for Spot SOL ETF

Asset manager 21Shares has followed VanEck by submitting an S-1 registration form for a spot Solana ETF to the Securities and Exchange Commission (SEC). Similar to VanEck, 21Shares believes that Solana’s native token should be treated as a commodity and is confident in the introduction of a U.S.-based ETF that provides access to the Solana ecosystem.

The SEC Sues ConsenSys Behind MetaMask

The U.S. Securities and Exchange Commission (SEC) has officially filed a lawsuit against Ethereum software provider ConsenSys over its MetaMask service. The SEC claims that the wallet operates as an unregistered broker, participating in the offering and sale of securities, and provides an unregistered securities program through its staking service. The filing reveals that staking services like Lido (LDO) and Rocket Pool (RPL) are also implicated, as they allegedly violate securities laws.
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