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Daily News Summary 29/8

August 29, 2024 Tóth Balázs
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Durov Released on Bail

Telegram CEO Pavel Durov was formally charged by a French court yesterday. He was released on bail set at $5.56 million but is not allowed to leave the country and must report to the French police twice a week. The charges allege his involvement in managing a platform that facilitates illegal transactions for an organized crime group, a crime that carries a maximum sentence of 10 years in prison.

World's Fastest EVM Blockchain Launched

The layer-1 blockchain Kaia, developed by Asia’s two leading messaging apps, Kakao and LINE, has gone live. According to the announcement, the mainnet is the world’s fastest EVM blockchain, offering one-second finality, extremely low gas fees, and support from leading Asian web3 partners. Developers on Kaia can build Telegram-like applications on the LINE messenger platform, which boasts a user base of nearly 250 million.

Renzo Expands to Solana

The Renzo Protocol, originally built on Ethereum, has announced the launch of its governance token, REZ, on the Solana blockchain via Wormhole, leveraging its native token transfer framework. This integration expands the reach of Renzo’s “liquid restaking token” technology and introduces the protocol to a new user base on Solana.

Brave Reduces Workforce

The privacy-focused web browser and search startup Brave has announced layoffs affecting 27 employees, approximately 15% of its workforce. This marks the company’s second round of layoffs in the past 10 months. Despite having nearly 80 million monthly active users and being particularly popular in the crypto industry, Brave remains relatively small compared to its larger competitors.

Trump Releases Fourth NFT Collection

Donald Trump has launched his fourth NFT trading card series titled “Series 4: The America First Collection.” The series, consisting of 360,000 NFTs, was released on the Polygon network, priced at $99 per NFT. So far, the collection has generated over $2 million in revenue.

Transak Provides Payment Onramp for Soneium

Transak, a web3 payment infrastructure provider, has partnered with Sony Block Solutions Labs’ Ethereum layer 2 network, Soneium, to offer fiat onramp solutions for users. This integration allows players to use traditional payment methods when joining the Soneium ecosystem.
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