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Crypto Evening Briefing: Over $1 Billion of Ether Has Been Lost Forever Due to Bugs and Human Error

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Over $1 Billion of Ether Has Been Lost Forever Due to Bugs and Human Error

More than $1 billion of ether has been lost forever due to bugs and human error, according to research by Conor Grogan, director of product strategy and business operations at Coinbase. 

Coinbase Submits Petition To Explain to SEC That Staking Is Not Securities

United States-based crypto exchange Coinbase decided to communicate proactively on the topic of crypto staking, which had recently gained regulators’ attention. In its petition to the Securities and Exchange Commission (SEC), the company explains why staking can’t be universally labeled as securities.

Circle Applies for French Crypto License As Stablecoin Issuer Expands in Europe

Stablecoin issuer Circle has applied for a French crypto asset license as part of a wider growth strategy for Europe.

Coinbase: ChatGPT Doesn’t Meet Accuracy Requirements for Integration Into Security Review Process

Coinbase said it would not integrate the popular artificial intelligence tool ChatGPT into its security review process because it does not meet its accuracy requirements.

Celsius Lawyer and Advisor Fees on Track To Reach $144M, Community Responds

Crypto lender Celsius Network’s lawyer and advisor fees amid its bankruptcy proceedings are projected to reach $144 million, triggering responses from members of the crypto community. 

Market Watch

As of press time, according to Cointime data:

BTC 's live price is $28,125.87 USD, dropped by 0.14% in the last 24 hours;

ETH’s live price is $1,771.06 USD, dropped by 1.46% in the last 24 hours;

BNB’s live price is $337.98 USD, dropped by 0.89% in the last 24 hours;

XRP's live price is $0.4072 USD, jumped by 6.52% in the last 24 hours.

Fundraising News

OP3N Raises $28M To Build ‘WhatsApp Meets Amazon’ for Web3

OP3N, a web3 AI-powered platform, raised a $28 million Series A round that values the company at $100 million. The fresh capital will be used to further develop its application as well as grow its leadership team.

Gryfyn Raises US$7.5M To Drive Web3 Adoption Through Entertainment Experiences

Gryfyn has completed a fundraise of US$7.5 million from backers that include Liberty City Ventures, GameFi Ventures, Lavender Hill Capital Partners, Mind Fund, Animoca Ventures, LeadBlock Partners, Angel Hub, Brinc, as well as angel investors including Gabby Dizon. Arnoldo Concepción, the co-COO of Animoca Brands, has been announced as the CEO of Gryfyn.

USDC Issuer Circle Offered $3 Billion Emergency Backstop From Coinbase

As per a 20 March report by Fortune, Coinbase offered a whopping $3 billion credit facility to Circle to guarantee the liquidity of its USDC stablecoin. According to people familiar with the matter, Circle had issued instructions to transfer its funds out of Silicon Valley Bank ahead of its collapse. However, the financial institution was seized by the United States Federal Deposit Insurance Deposit Corp (FDIC) before the funds could be wired out.

Ethereum-Based Carbon Tracker Carbonable Raises $1.2M to Tackle Greenwashing

Carbonable, a startup that uses the public Ethereum blockchain to track carbon contributions and help prevent greenwashing, has raised $1.2 million in a seed round led by Ethereal Ventures and La Poste Ventures.

Bitcoin Bitcoin $65,023.43
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