The Block
Quick Take Marathon Digital reported it mined 2,811 bitcoin (about $176 million at current prices) during the first quarter of 2024. The company also said net income rose 184% when compared to the same period the previous year.
Quick Take Eclipse CEO and founder Neel Somani said Thursday that he is “temporarily stepping back” from his duties at the Ethereum Layer 2 solution. Somani denied multiple allegations that he engaged in any sexual misconduct.
Since the Uniswap Labs fee hike, the developers have made over $145,000 per day from their frontend on Ethereum alone.
Quick Take Digital Currency Group (DCG) saw its revenue jump 51% to $229 million in Q1 2024, buoyed by gains in cryptocurrency prices. Grayscale led with $156 million in revenue from a bitcoin price surge, while Foundry and Luno also reported substantial earnings. DCG’s strong quarter reflects a market recovery despite past challenges like Genesis’ bankruptcy.
Arch Labs raised $7 million in a seed round from Multicoin Capital, OKX Ventures and others.The project is building a Bitcoin-native application platform to bring “bridgeless” trading directly to the Bitcoin blockchain.
Quick Take The poisoning attack scammer who stole $71 million worth of WBTC on May 3 contacted the victim. The scammer asked for the victim’s telegram and sent them 51 ETH, worth around $151,600. The interaction comes after the victim requested 90% of the funds back.
Ripple and XRPL Labs joined Hedera developer Swirlds Labs and the Algorand Foundation as founding members of the Decentralized Recovery (DeRec) Alliance. DeRec Alliance aims to standardize and expedite how digital assets can be recovered in the web3 industry, especially for crypto non-experts.
Quick Take AgriDex has raised $5 million in a pre-seed funding round. The Solana-based platform tokenizes agricultural commodities and enables trading of those tokenized commodities.
Bitcoin prices are struggling to stay above the $61,000 mark, according to The Block’s Price Page.On Thursday, the Bank of England kept borrowing costs at their 16-year high but signaled it would cut rates this summer if inflation stayed low.
Quick Take Confidential computing project Arcium closed a $5.5 million strategic funding round. Arcium previously developed Elusiv, a zero-knowledge privacy protocol based on Solana.
