Tag Archives: Near Protocol (NEAR)

NEAR Foundation announced plans to cut its team down by about 40% as part of its realignment initiative, impacting 35 employees. In 2023, the NEAR Protocol managed to host three of ten top Web3 apps, achieve a record number of users daily, and gain more Ethereum community partnerships. NEAR Foundation Realignment Efforts NEAR Foundation has released an update through a blog post that its layoff will mainly affect community, business development, and marketing teams. Notably,...

TL;DR New Cryptocurrencies on Binance Japan: Binance Japan adds 13 new digital assets, including NEAR, IMX, and MANA, expanding its total offerings to 47, with future plans to reach 100. Market Response to Announcement: The addition of these cryptocurrencies led to a positive market response, with notable gains in NEAR, KLAY, and OP. Binance’s Strategic Re-entry into Japan: Binance re-enters the Japanese market after acquiring Sakura Exchange BitCoin, aiming to leverage...

Tether – the company behind the largest stablecoin – announced the launch of USDT on Kava (a layer 1 proof-of-stake blockchain network). Following the latest development, the token is now live on over a dozen networks, including Ethereum, NEAR Protocol, Solana, Tron, Algorand, and more. The stablecoin issuer praised Kava network for its scalability and speed, saying it will be the next blockchain where USDT will circulate. Paolo Ardoino – CTO at Tether – thinks the initiative...

Decentralized Finance (DeFi) players have been left unscathed as the unmonitored control of off-chain capital of centralized crypto entities led to misdeeds and bad trades, and subsequent collapses. Be it multi-billion dollar bankruptcies, fraud allegations, rampant scandals, or plunging crypto-asset prices, 2022 was characterized by tragic events, culminating mostly from CeFis, which, in turn, enhanced the value proposition of DeFi. The decentralization-first purist approach...

Octopus Network – a multichain crypto network supporting Web3 applications – will lay off 40% of its staff members to ensure its survival amidst the ongoing crypto winter. The adverse macroeconomic factors have taken their toll on numerous other industry leaders who took similar action over the past several months. Some examples are Coinbase, CryptoCom, Huobi, Bybit, BitMEX, and others. This Winter is Different Than the Others In a recent letter, Louis Liu – Founder of...

Near Foundation – the Swiss non-profit that oversees the development of Near Protocol – reportedly partnered with the VC firm Caerus Ventures to launch a $100M venture capital fund and venture lab. The main goal will be to support engineers, builders, and developers who work in the emerging Web 3 sector. Earlier this year, Near Foundation expanded its presence toward Africa, teaming up with the Kenyan blockchain community Sankore. Over the course of the agreement, both...

An attacker trying to steal funds from Rainbow Bridge on Saturday was stopped within 31 seconds, losing 5 ETH in the process. Alex Shevchenko – CEO of Aurora Labs – broke down how the protocol mounted its automated defense, without needing an immediate response from the security team.  Another Successful Bridge Defense In a Twitter thread on Monday, Shevchenko said that someone attempted to send a fabricated NEAR block to the Rainbow Bridge smart contract.  Rainbow Bridge is...

Near Foundation – the Swiss non-profit that oversees the development of Near Protocol – reportedly teamed up with the Kenyan blockchain community Sankore to launch a regional hub in the African country. The unit will focus on crypto innovations, education, and talent development throughout the continent. Africa’s Latest Crypto Project Several recent studies estimated that emerging economies and developing countries are particularly thriving areas for the crypto industry....

On May 1, the NEAR Protocol Rainbow Bridge was attacked. The cross-chain bridge had temporarily been suspended for maintenance after detecting abnormal activities. In a detailed post, Alex Shevchenko, CEO of Aurora Labs, revealed that the attack was stopped automatically as the bridge architecture was designed to resist such events. No funds were lost during the event, Shevchenko added. The Attack It all started when the attacker sent some ETH through the popular coin mixer,...

The blockchain enterprise Near Protocol has reportedly secured a $350 million fundraiser. The initiative was led by Tiger Global Management – an American investment firm with over $90 billion in assets under management. Cited by Bloomberg, Amos Zhang – a Partner at MetaWeb VC (a company focused on investments that are part of the cryptocurrency industry) – said the fundraiser led by a giant such as Tiger Global “obviously means that Near might be one of the protocols that can...