🦎🚀 Farcaster flies with 9-figure funding! 🦄

By rahmat hidayat

Wednesday, May 22, 2024

Don't miss out on the juiciest news in the crypto space! Stay in the loop to ensure that you receive our latest newsletters, right in your inbox! The calm before the storm     Things are looking good for ETH so far, but we will only know for sure tomorrow.    In today's news:   Going further with Farcaster 📱 Hack 1, get 12 free 🔑   Read on! 24h Hot Searches Worldwide 🔥 PepeFork          (-13.3%) Apu Apustaja   (-15.1%) Brett                  (+2.4%) Drift Protocol  (+56.0%) Pepe                 (+20.1%) Notcoin             (-1.8%) Solana               (+0.1%) What Are Blockchains' Actual Processing Speeds?   Solana & Sui have established themselves as the fastest large chains, recording peak daily average real TPS of 1,504 and 854, respectively.   Across these largest chains, non-EVMs are 3.9 times faster than the EVMs on average. Read more Going further with Farcaster📱   That's a whole lot of money!   Earlier today, Dan Romero, the co-founder of decentralized social media protocol Farcaster, announced that the protocol has secured a $150 million Series A funding round.   The investment was led by Paradigm, with participation from other prominent venture firms such as a16z, Union Square Ventures, and Variant.   The recent raise places Farcaster at a $1B valuation, making it the latest unicorn in the crypto space.   Romero also mentioned that the newly acquired funds will be primarily used to grow the platform's daily active users and add developer primitives such as channels and direct messaging.   While the protocol does not have an official token yet, the DEGEN token created by the Farcaster community has surged by 21.8% from $0.019 to $0.023 since the announcement.   Editor's Take: Farcaster's recent raise further highlights investors' ever-shifting appetites for the latest narratives. SocialFi has grown beyond just slapping tokens onto decentralized social networks and calling it a day. With SocialFi facing increased attention and scrutiny than ever before, protocols now have to also consider incorporating crypto and blockchain technology in meaningful and engaging ways that could potentially change how people perceive and use social media.   Want to dip your toes into the Sui ecosystem but don't know where to start? Check out the leading protocols on the network in this video. Watch now Hack 1, get 12 free 🔑   Only one multisig wallet stands in the way of attackers and potentially over $121M in funds over 12 different networks collectively. This particular multisig wallet contains permissions for networks created using Conduit's roll-up software, such as Zora, Aevo, and Mode, according to L2Beat researcher Luca Donno. However, users shouldn't be too worried as the co-founder of Conduit, Andrew Huang, claimed that the wallet would not be able to perform transactions without 3 out of the 5 signatures from the team. Speaking to Cointelegraph, Huang also stated that the private keys to these signatures are stored on hardware wallets, making it harder for would-be exploiters since they would need to physically compromise 3 team members. The team is currently planning to tighten security by upgrading the system over the coming weeks to utilize a 5 out of 7 multisig.     Learn about Solscan, a popular Solana blockchain explorer, and how you can use it to monitor wallets, transactions, tokens, and more. Learn more In Other News...   Token Announced. deBridge unveils DBR governance token ahead of potential offering on Jupiter's launchpad.   Crypto Donations. In his bid for a second term, former United States President Donald Trump announced that he is now accepting cryptocurrency payments via his official website.   Best Thing to Do Is to Leave It Alone. Yuga Labs will 'no longer touch' CryptoPunks amid new collection backlash.   Returning The Stolen Funds. Gala Games exploiter returns $21 million taken from the $200 million exploit.   Firing Back at the SEC. After receiving a Wells Notice last month, the maker of decentralized exchange Uniswap pushed back against the SEC's claims.   Gaming Token Launches. Solana hero shooter Nyan Heroes launched its NYAN token as the current Epic Games Store play-to-airdrop campaign continues. 🦎Tell us what you think!   We've just revamped our newsletter with a new and fresh format!   Whether you're a long-time subscriber or just passing by, do let us know if you like the changes and what we can improve on! Let us know

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