Saga Pulls Out of Blockchain Gaming, Bitfinex Recovers More Stolen Assets, BarnBridge DAO Members Told to Halt ‘All Work’ Amid Investigation, Lightning Labs Releases Tools for Bitcoin Lightning and AI Developers
Get your daily, bite-sized roundup of crypto asset and blockchain-related news, digging into the stories flying under the radar in today’s crypto news. __________
Segathe game studio once seen as one of the strongest proponents of GameFi and blockchain gaming is withdrawing from the industry, Bloomberg reported. It will retain its largest third-party blockchain game project franchises to avoid devaluation of its content, co-chief operating officer Shuji Utsumi said. It is also shelving plans to develop its own blockchain-based games, at least for now, he said. Utsumi also did not commit to employing Web3 technology, saying, “After all, we are looking into whether this technology is really going to take off in this industry.”
Bitfinex said he recovered additional stolen assets from the 2016 hack: he received $312,219.71 in cash and 6,917 BCH from the United States Department of Homeland Security (DHS). Under the terms of Bitfinex’s contractual obligations to token holders, these amounts will be used to redeem the Recovery Rights Tokens (RRTs) issued by Bitfinex, but since there are currently 30 million RRTs in circulation, the amount recovered will not is enough to redeem all RRTs. records, saying ad. “We hope to recover as many of the stolen bitcoins as possible and redistribute them to holders of the tokens that were issued in response to the attack in 2016,” said CTO Paolo Ardoino.
In a July 6 post on the platform’s Discord channel, Douglas Park, a lawyer for the decentralized autonomous organization BarnBridge CADsaid members to pause “all work” related to the project. The reason is that the US National Stock Market Commission The SEC “is investigating the BarnBridge DAO and the individuals associated with the DAO,” Park said. Existing liquidity pools should be closed, no new ones should be opened and people should no longer be compensated for any work on related products until further notice, she said.
Bitcoin Lightning Network Development Company lightning labs announced the launch of a new suite of developer tools that enable Lightning and artificial intelligence (AI) developers to build cost-effective “global, inclusive, and out-of-the-box” large language model (LLM) tools that incorporate Lightning and bitcoin ( BTC). Ad saying that “these tools are based on the L402 protocol, a native Lightning authentication mechanism, and long chainA popular library to simplify working with AI agents by adding external data to enable more advanced functionality.”
He Association for Financial Markets in Europe (AFME) urged regulators not to exclude decentralized finance (DeFi) from the Markets in Crypto Assets (MiCA) regulatory framework. the AFME saying that “we believe it is crucial to avoid the potential exclusion of so-called “decentralized activities” as this could open up opportunities for regulatory arbitrage and weaken the enforcement of emerging frameworks. This exclusion could create unwanted financial stability risks and potential repercussions impacts,” they argued.
Canada’s foremost financial authority, the Canadian securities administrators (CSA), issued guidance to help fund managers comply with legal requirements for investment funds holding crypto assets. By In the notice, bitcoin (BTC) and ethereum (ETH) are “currently the only crypto assets accepted as investments for public crypto asset pools.” He stated that “CSA staff are of the opinion that the bitcoin and ether markets best support the operations of public crypto asset funds at this time without compromising investor protection. In the future, it may result in greater institutional support and the widespread adoption of other crypto assets.” in that those crypto assets become suitable investments for publicly distributed mutual funds.” He added that exchange-traded funds (ETFs) have the necessary tools to hedge against price fluctuations of certain cryptocurrencies.
He Cardano Foundation announced the launch of a new technical collaboration with the American sports brand vintage sports and the complete apparel ecosystem commodity. The 6,000 limited edition commemorative jerseys authenticated at the Cardano blockchain were sold in June, during the 2023 Men’s World Lacrosse Championship, according to a press release. Each jersey features a Near Field Communication (NFC) patch with a non-fungible digital token (NFT) version of the jersey. Epoch Sports and Merchandise plans to release the remaining NFC-enabled commemorative jerseys, with NFTs connected, on the official 2023 World Lacrosse Championship webstore.
Cronos Laboratoriesa blockchain startup accelerator that focuses on the development of the Chronos ecosystem, announced a partnership with protocol labs, an open source research and development laboratory. As part of the collaboration, Protocol Labs will provide startups within the Cronos Accelerator Program with the necessary resources to develop innovative Web3 applications within the Cronos ecosystem, saying ad. It will also offer workshops, technical support and mentoring to participating startups.