News

According to PANews, Ethereum co-founder Vitalik Buterin has raised concerns about the risks associated with digital identity, even when wrapped in zero-knowledge (ZK) proofs. In his article, Buterin acknowledges that ZK-wrapping addresses many significant issues but highlights that risks remain, particularly those unrelated to biometrics. Most of these risks, such as privacy breaches, susceptibility to coercion, and errors, stem from attempts to maintain the 'one person, one identity' principle.Buterin contrasts this with the use of 'proof of wealth' as an anti-sybil attack measure, which he argues is insufficient for many use cases. He suggests that an ideal theoretical solution lies between these two extremes. However, achieving this balance in practice is challenging. Instead, Buterin advocates for a 'plural identity' approach as the best practical solution. This approach can be explicit, such as those based on social graphs, or implicit, involving various types of zero-knowledge proofs, none of which can dominate the market entirely.

According to Odaily, NOYA.ai has announced on the X platform that a potential vulnerability has been discovered. The team is conducting a thorough investigation and will keep the community updated on progress. Users are advised to pause usage during this period. Additionally, NOYA.ai has assured its Discord community that user wallets are not at risk and no additional actions are required. The team is working on recovery processes and plans to release a detailed announcement by tomorrow morning. The incident was reportedly caused by an unauthorized developer, and the situation is being addressed with urgency.

According to PANews, on June 27, monitoring by PeckShield revealed that the attacker responsible for the SiloFinance breach has transferred 225.1 ETH to TornadoCash. This movement of funds follows the recent attack on SiloFinance, highlighting ongoing security concerns within the cryptocurrency sector.

According to Odaily, stablecoin issuer Tether has announced its formal request in May to participate in Juventus Football Club's capital increase plan and has applied for a board seat. Currently, Tether holds over 10% of the club's shares, making it the second-largest shareholder after the controlling entity, Exor. Although the initial request was not accepted, the club has proposed a new meeting date, and both parties are coordinating to arrange a suitable time. Tether emphasized its willingness to be an "active participant in Juventus' future development" and is prepared to make substantial contributions to the team.

According to PANews, Bakkt Holdings has submitted a $1 billion shelf offering application to the U.S. Securities and Exchange Commission (SEC). The funds raised are expected to be used for working capital and general corporate purposes. Additionally, a portion of the proceeds may be allocated to Bitcoin or other digital assets in line with the updated investment policy.A shelf offering allows a company to register securities once and issue them multiple times over a period, providing flexibility in raising capital.

According to Odaily, Enso has officially launched its first embeddable cross-chain DeFi deposit feature. This new functionality allows users from any blockchain to initiate deposits into any DeFi protocol. The feature is developed in collaboration with LayerZero and Stargate Finance, offering high composability. It is now live and available for integration.Enso serves as a connective layer and intent engine in the crypto space, aiming to link all ecosystems into a single network. This enables application developers and users to express their desired outcomes as intents, facilitating the creation of truly composable applications without the need for manual integration.

According to Odaily, publicly traded company Done.AI has commenced an evaluation of blockchain infrastructure as a strategic addition to its AI-native financial platform. As part of this initiative, the company plans to allocate 20 million Norwegian Krone (approximately 2 million USD) for the purchase of Bitcoin, with the transaction expected to occur soon. Additionally, Done.AI will explore the feasibility and integration of stablecoins, equity tokenization, and digital securities infrastructure.

According to Foresight News, recent court documents reveal that executives at Digital Currency Group (DCG) were aware of potential legal risks before the collapse of its cryptocurrency lending platform, Genesis. Despite warnings from multiple sources, including third-party risk advisors hired by DCG, these risks were overlooked, leading to a significant increase in Genesis's loan portfolio from $4 billion to $12 billion.Currently, Genesis is attempting to recover over $3.3 billion in debts from DCG, its CEO Barry Silbert, and other internal figures. The documents highlight the negligence in addressing the risk warnings, which contributed to the financial challenges faced by Genesis.

According to Foresight News, DWF Labs has announced the renewal of its strategic partnership with the DMCC Crypto Centre. The collaboration aims to bolster the development of Dubai's cryptocurrency ecosystem. DWF Labs is committed to supporting this growth through investments, advisory support, and facilitating access to global markets.

According to BlockBeats, Aurora Mobile Limited (NASDAQ: JG) has announced that its board of directors has approved a strategic initiative as part of the company's overall financial management plan. This move aims to support the expansion of market coverage, partnerships, and ecosystem strategies while preserving and enhancing asset value.Under this plan, the company and its consolidated entities will invest up to 20% of their total cash and cash equivalents in cryptocurrencies and other digital assets. These investments may include, but are not limited to, Bitcoin, Ethereum, Solana, SUI, and other tokens.

According to PANews, the Near community has introduced a proposal aimed at improving the NEAR token economy by reducing the maximum inflation rate from 5% to 2.5%, while maintaining flexibility for future adjustments. If transaction fees are burned at approximately 0.1%, the actual inflation rate could decrease to 2.4%. The proposal also suggests lowering staking yields or incentivizing token holders to participate in decentralized finance (DeFi). The current fixed annual inflation rate of 5% has led to an increase in circulating tokens, equity dilution, and token devaluation due to minimal transaction fee burning.However, the proposal currently has a support rate of only 7.42%, with 36 days and 22 hours remaining until the voting period concludes. Opponents argue that reducing validator incentives by 50% would render their nodes unprofitable, potentially decreasing the number of validators and stakers. They also question the strong correlation between inflation rates and price performance.

According to BlockBeats, Guotai Junan International (01788.HK) experienced a substantial increase in its stock price, rising over 80% during early trading. This surge follows the company's official approval to offer cryptocurrency and other virtual asset trading services.

According to Odaily, trader Eugene announced on social media that he has liquidated all long positions, except for some Bitcoin holdings, and has started shorting certain altcoins. He believes the impact of the Middle East situation has concluded, and the overall market trend remains weak. Eugene noted that Bitcoin's rebound from $99,000 to $106,000 has been completed, and the market will return to its previous rhythm. At this stage, he plans to adopt a strategy of holding long positions in Bitcoin while shorting altcoins to navigate the market moving forward.

According to BlockBeats, decentralized trading platform CoWSwap has announced its integration with the Avalanche blockchain. This development aims to enhance the platform's capabilities and expand its reach within the decentralized finance ecosystem. By leveraging Avalanche's technology, CoWSwap seeks to offer improved transaction speeds and scalability to its users.

YZi Labs has announced a strategic investment in Blueprint Finance, a multichain DeFi infrastructure company and core developer behind Ethereum-based Concrete and Solana-based Glow Finance.The investment will support Blueprint’s launch of cross-application margin accounts, automated yield vaults, and other innovations aimed at advancing institutional adoption of DeFi solutions.YZi Labs stated that Blueprint’s secure and efficient asset management systems are driving meaningful growth in the DeFi ecosystem.The Blueprint team includes veterans from Point72, Morgan Stanley, ConsenSys, and Coinbase, and has recently recruited top talent from EigenLayer, Maple, and other leading Web3 projects.Bringing the company’s total raised to over $17 million, the investment will further enhance Concrete’s technology stack, and enable Glow to introduce novel mechanisms such as cross-application margin accounts, automated yield vaults, and staking markets, while continuing to develop new features and upcoming products.

According to PANews, Celestia co-founder John Adler has proposed adopting Proof-of-Governance (PoG) as the ultimate solution for liquid staking tokens (LSTs) on the X platform. The proposal suggests modifications to the Celestia protocol that could significantly reduce unnecessary token issuance from 5% to 0.25% without compromising the protocol's security. This change aims to facilitate seamless parity with LSTs, allowing TIA to be more easily utilized within Celestia's native DeFi ecosystem. Additionally, by enhancing data availability (DA) throughput and vertically integrating with execution layers and applications, this change is expected to help Celestia accumulate value through revenue (REV) and transaction fees.

The Web3 security firm HashDit stated on X, "The front end website of Cointelegraph has been compromised to serve a drainer. Similar to what happened on CoinMarketCap 2 days ago. Please do not interact with the website now, until the site has been cleared." Users are advised to exercise caution and avoid engaging with the site until further notice.

According to Odaily, the total value locked (TVL) in the JUST DeFi protocol on the TRON blockchain has reached $9.26 billion. This milestone underscores its strategic importance as a core DeFi infrastructure within the TRON ecosystem. As a leading DeFi protocol on TRON, JUST is committed to continuous innovation and upgrades. The protocol aims to enhance cross-chain asset exchanges and smart staking and lending services, striving to provide users with a safer and more efficient one-stop DeFi solution.

According to BlockBeats, DeFi Hub protocol EnsoFi and AI blockchain project OpenLedger have integrated into the Irys ecosystem, a developer of on-chain data solutions.With OpenLedger's launch on the mainnet, they will gain access to Irys's dedicated datasets, which are permanently stored on a high-performance data chain. This access aims to facilitate the development of robust and professional AI models. OpenLedger seeks to achieve large-scale, deep, and verifiable on-chain data at minimal cost.EnsoFi's EDAS decision-making, training, and analysis data will be securely and verifiably stored on Irys. All outputs from the agents will be transparently available on-chain. As the collaboration progresses, EDAS agents will be able to leverage Irys's programmable data to discover, collaborate, and continuously optimize their strategies, unlocking more complex automation opportunities.