
Our weekly updates are put together by folks deep in the crypto scene, giving you a clear picture of what's happening without overwhelming you.

To Watch This Week
AIRDROPS + ALPHAMay 23, 2024

Business
Grayscale Launches Trusts for Bitcoin Layer-2 Stacks, Near Protocol
Asset manager Grayscale unveiled two new investment trusts on Thursday, offering certain investors exposure to the Bitcoin layer-2 Stacks and Near Protocol, respectively. Limited to accredited investors, the trusts function much in the same as other private placements that Grayscale offers. Among a myriad of offerings, the new trusts join others dedicated to cryptocurrencies like Solana, Chainlink, and Decentraland. “With continued demand for diversified crypto asset exposure, Grayscale remains...
May 22, 2024

Business
Near Protocol Launches User-Owned AI Research Lab and Incubator
NEAR Protocol, a leading consumer blockchain focused on decentralized cloud computing, announced today the launch of NEAR AI, a new research and development lab focused on decentralized artificial intelligence (AI). The lab will be led by Illia Polosukhin, a co-founder of NEAR Protocol and co-creator of the influential Transformers AI architecture. Additionally, the NEAR Foundation unveiled an AI-focused incubator and investment wing aimed at funding and supporting AI projects built on the NEAR...
Sep 5, 2023

Gaming
MrBeast-Promoted 'Creator League' Postponed After Gamers Bail Amid NFT Backlash
Esports tech firm eFuse launched a “Creator League” with big influencers like Bella Poarch, iShowSpeed, and Clix last week, and used the massive reach of YouTube giant MrBeast to promote it. But now the company has put the project on hold following controversy surrounding the league’s use of blockchain tech. Esports Insider and Sports Business Journal reported Tuesday that eFuse has also laid off 30% of its staff, which is believed to have affected approximately 30 employees. While eFuse did not...
Jul 30, 2023

Long Reads
Baron Davis Wants a Player-Owned NBA Team. Can This Pro-Sailing League Get Him There?
There exists a future, one not so far from now, in which NBA players will be able to join together and collectively own major basketball franchises like the Lakers, the Warriors, and the Miami Heat. And they'll use cryptocurrency-based tools to do it. At least that’s what two-time NBA All-Star and tech entrepreneur Baron Davis believes. And it all starts with professional sailing, he says. “If fans can participate in a team, make decisions, and get rewarded, that’s just a great way to organize,”...
Jan 13, 2023

Business
First Fan-Owned SailGP Team DAO Opens to Investors
The first ever fan-owned SailGP racing team has opened its doors to investors. Founded by Bernoulli | Locke, the new SailGP team will be run as a decentralized autonomous organization (DAO) on the NEAR protocol in which token holders have the right to vote on key decisions around the team's operation. Those decisions include everything from the team name, flag and boat livery, to selecting sponsors and athletes—and many team business decisions. 🚨Major announcement 🚨 The First Fan-Owned Team l...
Oct 4, 2022

Coins
Near Protocol Founder: Ukraine Shows How Crypto 'Delivers Help Directly to People'
Since Russia invaded Ukraine in February, millions in cryptocurrency donations have found their way into the digital wallets of the Ukrainian government and non-governmental organizations (NGOs) operating in the region. Ukraine raised $63 million in crypto donations within two weeks of the invasion, according to Blockchain analytics firm, Elliptic. "At the beginning, [cryptocurrency] was a lifeline," Near Protocol co-founder Illia Polosukhin told Decrypt at Messari Mainnet in New York City. The...
Aug 23, 2022

Business
Near’s Rainbow Bridge Blocks Another Attack, Costing Hackers 5 Ethereum
Near Protocol’s Rainbow Bridge experienced another hack attempt over the weekend. Like the first attempt back in May, the project successfully blocked this attack “automatically within 31 seconds,” the CEO of Aurora Labs Alex Shevchenko announced on Twitter yesterday. The Rainbow Bridge connects Near Protocol, Ethereum, and Aurora—an EVM-compatible scalability solution on Near—allowing users to move funds between the networks via smart contracts. 🧵 on the Rainbow Bridge attack during the week...
Aug 13, 2022

Coins
This Week in Coins: Ethereum and Avalanche Rally, Crypto Winter Still Not Over
This week in coins. Illustration by Mitchell Preffer for Decrypt. Despite the ongoing cypto bear market, many top cryptocurrencies posted double-digit percentage gains over the week. Bitcoin had no such luck. Bitcoin only rose 5.5% over the last seven days and currently trades for $24,460 according to CoinMarketCap. Ethereum rallied much harder. The No. 2 cryptocurrency and leading blockchain for high-functionality smart contracts is up 16% in the past week to $1,984 at the time of writing, a...
Jul 28, 2022

Business
Step-Counter App Sweatcoin Raises $13M to Fund Leap Into Web3
Popular health and fitness app Sweatcoin is making a major transition from its Web2 surroundings into the world of Web3 by expanding its existing “Sweat Economy” ecosystem to offer crypto rewards for user engagement. The leap is also fueled by $13 million in funding backed by several prominent blockchain investors, including Electric Capital, Spartan Capital, Jump, GSR, and the NEAR Foundation. Other participants in the round include high-profile figures such as Polkadot co-founder Bjorn Wagn...
Apr 25, 2022

Markets
Zilliqa, NEAR Protocol Suffer Double-Digit Losses as Crypto Market Dips
The price of Zilliqa (ZIL), the token underpinning the eponymous blockchain aiming to rival traditional centralized payment methods such as Visa and MasterCard, is down 14% on Monday, declining to its monthly low of $0.097 by press time, according to data from CoinMarketCap. ZIL was trading at as much as $0.22 at the beginning of April, with the token rallying on the back of the launch of Metapolis, a Zilliqa-powered metaverse project. This price now appears overbought and has effectively wiped...
Apr 21, 2022

Business
NEAR Lending Project Bastion Raises $9M Series A Led By Three Arrows
NEAR lending and stablecoin swap protocol Bastion has closed a $9 million Series A round led by Three Arrows Capital. Jane Street, FTX Ventures, and Jump Crypto also participated in the round. Bastion’s founder, who goes by the pseudonym N^2, said the five-person team will use the funds to hire more developers and pay for marketing. “We’re definitely going to be expanding more into the retail consumer side,” he told Decrypt. “And we can actually serve institutions as well, by creating these so...
Apr 8, 2022

Markets
Near Protocol Jumps 23% Amid Fresh $350M Funding
The NEAR token, which powers the eponymous blockchain network, has risen almost 23% over the past 24 hours. The bullish action now puts the 16th-largest cryptocurrency by market capitalization at just over $19, according to CoinMarketCap. This is just 6.5% from NEAR’s all-time high of $20.42 set in January. Launched in May 2020, Near Protocol emerged to solve many scalability bottlenecks that permeate the crypto space. It boasts high speeds and low costs through various features, including a...
Apr 6, 2022

Business
Ethereum Rival NEAR Protocol Raises $350 Million in New Funding
As it seeks to compete with Ethereum as a go-to blockchain for decentralized applications, NEAR Protocol announced today it has raised $350 million in a new funding round led by Tiger Global. Republic Capital, FTX Ventures, Hashed, Dragonfly Capital, ParaFi Capital, Blockchange Ventures, and MetaWeb.vc also participated. NEAR says this latest funding round will accelerate the decentralization of the NEAR ecosystem. NEAR's previous raises included a $21.6 million round in May 2020 and another $15...
Feb 18, 2022

DeFi
Ref Finance Raises $4.8M To Build Out DeFi On Near Protocol
Decentralized finance (DeFi) protocol Ref Finance has raised $4.8 million to build out its vision of a "one stop shop" for DeFi in the Near Protocol ecosystem. According to an announcement, the strategic OTC sale was led by Jump Crypto, with participating investors including Alameda Research, Dragonfly Capital and Kucoin Ventures. The funds raised will be used to expand the Ref Finance team and "build DeFi services that would better support the NEAR ecosystem." "We are excited to partner with Re...