Faraway , a crypto gaming company that purchased two of Yuga Labs previous gaming endeavors, had an airdrop today for its new AI-driven token RIFT, but some holders of the ecosystem’s non-fungible tokens (NFTs) were left in the cold with zero token allocation. Within an hour of its launch RIFT quickly surged as high as a $300 million market capitalization, but has trended down since and is currently changing hands at $.09, or a $92 million valuation. The ecosystem NFTs, which were originally launched under Yuga Labs , consist of HV-MTL, a 24,000 supply collection with a floor price of 0.04 ETH, and Kodamaras, a 7300 supply collection with a 0.075 ETH floor. NFT whale Dingaling took to X to convey his dismay saying , “Holding 264 Mara, 263 Otherdeeds, 198 HV-MTL. Zero $RIFT airdrop LMAO. Amazing.” To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

2025-01-30 04:26

Pell Network has successfully raised $6.5 million to develop its omnichain Bitcoin restaking network, which aims to enhance cryptoeconomic security and maximize Bitcoin's potential. The funding round was backed by notable investors including d11labs, ArkStream Capital, and Web3Port. The project is positioned as a key player in the BTCFi space, with the $PELL token serving as a foundational element for Pell Network, facilitating decentralization, governance, and long-term incentives. Additionally, Pell Network is set to leverage its funding to advance its AI-driven DeFi initiatives. Meanwhile, Starknet continues to innovate in the blockchain space, focusing on advanced zero-knowledge (ZK) technology to enhance user experience and security through features like native account abstraction and smart contract wallets. The platform is gaining traction with new projects, including Proof of Speed, which aims to ensure gameplay integrity in on-chain gaming environments. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

2025-01-30 02:00

Robinhood CEO Vlad Tenev has urged the Securities and Exchanges Commission (SEC) to make the necessary regulatory adjustments to make the tokenization of private company securities legal in the U.S. In a Jan. 28 op-ed in the Washington Post , Tenev argued that the U.S. is falling behind in the coming investing revolution. This revolution involves leveraging crypto technology to tokenize private-company stock, enabling retail investors to invest in leading companies before they become too expensive. Robinhood is an investment app with 11.8 million monthly users, which offers access to stocks and cryptocurrencies. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

2025-01-30 01:14

Czech National Bank Governor Aleš Michl plans to propose a strategy to the bank's board to invest in Bitcoin as a way to diversify the country's foreign exchange reserves, according to a report by the Financial Times. The proposal, which will be presented on January 30, could see the central bank allocate up to 5% of its €140 billion ($146 billion) reserves into Bitcoin, amounting to a potential investment of approximately €7 billion. If approved, the Czech National Bank would become the first European central bank to hold Bitcoin as part of its reserve assets. Michl stated that Bitcoin has zero correlation to bonds and is an interesting asset for a large portfolio. However, he noted that while Bitcoin is under consideration, there is no imminent decision. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

2025-01-30 01:00

The latest feud in crypto started with a co-founder of Arbitrum developer Offchain Labs posting on X that most interoperability tech “is still in the ideas/vision/research phase.” Steven Goldfeder then said that he believes most Ethereum developers limit their vision of interoperability to their own stack. “I think we need to change this now,” he said . “We need to build open bridges, not arbitrary walls.” Which does not exactly sound like fighting words To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

2025-01-30 00:31

The cryptocurrency market rallied on Wednesday after the Federal Reserve released its latest policy statement. The Fed announced that it will keep interest rates unchanged, a widely expected decision by financial markets. Following the release, the crypto market climbed slightly, with total market capitalization rising by 1% to $3.66 trillion, according to CoinGecko. Bitcoin (BTC) is up 3.3% to $103,800 in the past 24 hours. Meanwhile, Ethereum (ETH) gained 3% to $3,140, XRP added 2.2%, and Solana (SOL) surged 4% to $2.35. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

2025-01-30 00:07

Kaito AI has introduced a new mechanism that incentivizes community participation through the accumulation of Yap points. Users can earn these points by engaging with the platform, creating original content related to cryptocurrency, and interacting with others, particularly those in the Inner Circle CT group. The recent launch of Kaito Connect, a pre-token generation event (TGE) launchpad, allows users to vote on selected projects based on their Yap points. This initiative is generating interest among creators, who can monetize their Yap votes for $3 to $5 each weekly. The first wave of voting has reportedly yielded valuable rewards, indicating a promising start for Kaito's airdrop strategy. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

2025-01-30 00:00

Bitwise, VanEck, Canary Capital, and 21Shares have registered their interest in issuing several new crypto exchange-traded funds (ETFs) in filings with the Securities and Exchange Commission (SEC). Bitwise filed an S-1 registration with the SEC on Jan. 28th for a Bitwise Dogecoin ETF. On Jan. 22, the company moved to submit a registration filing for the Dogecoin ETF in Delaware. If approved, it will be the first Dogecoin ETF in the market. This means that instead of buying and storing Dogecoin themselves, investors can buy shares of this ETF in their traditional trading accounts. The value of the shares depends on how much Dogecoin the fund owns, minus any fees and expenses. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

2025-01-29 23:13

Cardano is set to undergo a significant transition to full decentralized governance with the activation of the Plomin hard fork today. This update will empower $ADA holders with real voting power on key blockchain decisions, including parameter changes and treasury withdrawals. The hard fork is described as a milestone in blockchain governance, marking a pivotal moment for the Cardano ecosystem. The transition is expected to enhance community participation and decision-making processes within the network. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

2025-01-29 23:00