Brine Fi, a decentralized exchange (DEX) that leverages StarkWare’s zero-knowledge proof technology, has raised $16.5 million in a Series A funding round led by Pantera Capital. The round also saw participation from other prominent investors, such as Alameda Research, Framework Ventures, and DeFi Alliance.
Brine Fi aims to provide a scalable, secure, and low-cost trading platform for crypto assets, using StarkWare’s zkSTARKS to compress and verify transactions off-chain. The DEX claims to offer up to 9,000 transactions per second, with fees as low as $0.001 per trade. Brine Fi plans to use the new capital to expand its team, develop new features, and grow its user base.
Grab, the leading super-app in Southeast Asia, has announced that it will integrate web3 services into its platform. Web3 is a term that refers to the decentralized and open internet, powered by blockchain and other technologies. Grab users will be able to access various web3 features, such as decentralized finance, non-fungible tokens, and social tokens, through the app. Grab said that this move is part of its vision to empower its users with more choices and opportunities in the digital economy.
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The Commodity Futures Trading Commission (CFTC) is one of the federal agencies that oversees the cryptocurrency industry in the United States. However, the current regulatory framework is often unclear, inconsistent, and outdated, creating challenges for both regulators and market participants.
To address these issues, CFTC Commissioner Dawn Stump has recently proposed a pilot program that would allow the CFTC to regulate crypto assets more effectively and efficiently. The program would involve creating a sandbox environment where crypto firms can test their products and services under the supervision and guidance of the CFTC, without having to comply with all the existing rules and regulations that may not be applicable or appropriate for their innovative business models.
The pilot program would also enable the CFTC to gather more data and insights on the crypto industry, which would help inform its future rulemaking and enforcement actions. The program would also foster collaboration and communication between the CFTC and other stakeholders, such as other regulators, industry associations, consumer groups, and academics.
The pilot program is not intended to replace or undermine the existing regulatory framework, but rather to complement and enhance it. The program would be voluntary, time-limited, and subject to certain criteria and conditions. The program would also respect the jurisdiction and authority of other regulators, such as the Securities and Exchange Commission (SEC), the Financial Crimes Enforcement Network (FinCEN), and state authorities.
The US and UK governments have imposed sanctions on a group of hackers who are responsible for the Trickbot ransomware, which has targeted hospitals, schools, businesses and governments around the world. The sanctions freeze any assets the hackers have in the US or UK and prohibit any transactions with them. The hackers are also accused of stealing personal and financial data and interfering with elections in several countries. The sanctions are part of a coordinated effort to disrupt and deter the cybercriminals, who have caused significant damage and disruption to millions of victims.
OKX, one of the leading cryptocurrency exchanges in the world, has announced a strategic partnership with Circle, the company behind the popular USDC stablecoin. The partnership will enable OKX users to access USDC features such as minting, redeeming, and earning interest directly from their OKX wallet.
Additionally, OKX will integrate Circle’s API services to power its decentralized exchange (DEX) aggregator, which allows users to trade across multiple DEX platforms with low fees and high liquidity. This collaboration will enhance the user experience and security of OKX’s products, as well as expand the adoption and utility of USDC in the crypto ecosystem.
The Commodity Futures Trading Commission (CFTC) announced today that it has settled charges against three decentralized finance (DeFi) platforms for offering unregistered swaps and futures contracts. The platforms are Opyn, ZeroEx and Deridex, which operate on the Ethereum blockchain and allow users to trade options, tokens and derivatives without intermediaries.
According to the CFTC, the platforms violated the Commodity Exchange…
Read More: Brine Fi, Grab, Trickbot, OKX and other Crypto News