Analyses

Daily News Summary 3/9

September 3, 2024 Tóth Balázs
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Brazilians Migrate to Bluesky

After Elon Musk refused to name X’s legal representation in Brazil, leading to the platform being banned in the country, Bluesky Social (Bsky), an American decentralized microblogging social platform, gained one million new users. Bluesky is based in the United States and is owned by Jay Graber. It was announced by Jack Dorsey in 2019 and opened to the public in February 2024. Since then, it has boasted over 7.6 million users.

Ripple's New Developments

During a presentation at the Korean Blockchain Week, Ripple Labs announced that it would soon introduce smart contracts to the XRP Ledger Mainnet, bringing new functionalities to the network for NFTs, AMMs, and decentralized exchanges (DEX). Additionally, they plan to launch an XRPL EVM Sidechain in the coming months to build a versatile ecosystem and announced partnerships with Futureverse AI and Metaverse companies to integrate Ripple Custody.

ZKsync Downsizes

The company behind ZKsync, Matter Labs, has announced that it will be laying off 16% of its workforce, amounting to 24 employees. The decision was made in the interest of efficiency, as part of transitioning to the next phase of decentralization and defining the appropriate roles within the company.

Hypernative Secures $16 Million in Funding

Web3 security company Hypernative, which helps identify and prevent hacker attacks, has raised $16 million in a Series A funding round led by Quantstamp. Other supporters included Bloccelerate VC, Boldstart Ventures, Borderless Capital, CMT Digital, IBI Tech Fund, Re7 Capital, and others. The company chose not to disclose its valuation.
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