➡️ Crypto Investor Binance Soars Solo, Valued at $10B

🔗 In a move that caught the crypto world off guard, Binance has bid adieu to its venture capital arm, Binance Labs, and emerged as an independent powerhouse with a staggering valuation of $10 billion. The baton of leadership was passed to the capable hands of CEO Richard Teng just four months ago.

*♾ *Brand Breakup: The split was made official on March 15, with Binance Labs making it crystal clear that they are no longer hitched to the Binance Group. However, they'll continue rocking the familiar Binance branding under a licensing agreement.

💼 Separate Paths: As part of this shake-up, the folks at Binance Labs now operate under their own employment agreements, mirroring the setup at the popular BNB Chain. It's all about independence and autonomy!

💰 Impressive Portfolio: Let's not forget the 250+ projects that have received backing from Binance Labs over the years. Giants like PancakeSwap and Polygon have flourished under their wing, while Babylon's Bitcoin staking protocol brought fresh innovation to the table.

🌐 Trendy Ventures: Venture capital is all the rage in crypto land, with exchanges like Coinbase and Kraken also jumping on the bandwagon. But fear not, dear Binance fans! This split doesn't seem to be causing any major turbulence in the ecosystem.

📈 BNB Blues: While Binance still rules the roost as the top centralized exchange, its native token BNB took a slight dip post-split. At present, it's trading at $584.31, down by 2.81%. Keep an eye on those charts!

🔍 Looking Ahead: With its newfound freedom, Binance Labs remains steadfast in its mission to uncover the next big thing in the crypto realm. The show must go on, and they're not missing a beat.

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🟥 Wall Street Whales Dive into Blockchain: Goldman Sachs, BNY Mellon Lead the Way

🚀 Blockchain's Big Splash on Wall Street: Goldman Sachs, BNY Mellon Make Waves

In a groundbreaking move, financial titans like Goldman Sachs and BNY Mellon have taken a deep dive into the world of blockchain technology. Teaming up with Cboe Global Markets, these Wall Street whales have just wrapped up an impressive pilot test on the Canton Network.

*➡️ *Canton Network Makes Waves with Blockchain Pilot Success

The Canton Network, a brainchild of industry heavyweights Goldman Sachs and BNY Mellon, has been making waves since its launch last year. Now, after months of anticipation, this blockchain network is making headlines again with its successful pilot tests. Microsoft and Deloitte were also early partners in this ambitious venture.

💼 155 Participants, 22 Blockchains: Blockchain Interoperability Takes Center Stage

According to Bloomberg's report on March 12, this isn't just any run-of-the-mill test. With a whopping 155 participants from 45 top organizations and settlements across 22 permissioned blockchains, the Canton Network is proving that blockchain interoperability is more than just a buzzword.

*🟢 *From Tokenized Assets to Digital Cash: A Four-Day Blockchain Bonanza

During the four-day trial period, institutional investors got their hands dirty with over 350 simulated transactions using distributed ledger technology. From tokenized assets to fund registries and even digital cash, this pilot covered it all. Eric Saraniecki of Digital Asset hailed it as a milestone for synchronized transactions on the blockchain.
*⚡️ *Reducing Risks, Optimizing Capital: Blockchain's Promise for Wall Street

Beyond the glitz and glamour, these tests had a purpose: to see if blockchain could help streamline processes, reduce risks, and make better use of capital. With successful results in their hands, it seems like Wall Street's whales are ready to make a splash in the world of blockchain technology.

✅ Goldman Sachs Acknowledges Bitcoin Boom: Upgrades Coinbase to Neutral

📈 Wall Street titan Goldman Sachs has adjusted its stance on Coinbase, upgrading the popular cryptocurrency exchange's stock position from sell to neutral. This move comes as Bitcoin continues its meteoric rise, smashing records with a new all-time high of $69,225.37.

💼 The investment firm responded to this price rally by raising its price target for COIN stock from $170 to $282, reflecting a more optimistic outlook.

🌊 Crypto's Rising Tide: Goldman Sachs recognizes the broader trend in the market, where the current cryptocurrency boom has lifted many boats. It's a strategy of going with the flow, as portfolio managers seek to capitalize on market movements.

⚡️ Michael Saylor's MicroStrategy stands out among Bitcoin-related companies, with its bold bet on the digital asset paying off handsomely. As Bitcoin gains momentum, so does MicroStrategy's stock, making it one of the most valuable companies in the U.S.

📊 The charts tell a clear story: there's a strong correlation between these stocks and the Bitcoin boom, with Marathon and MicroStrategy also experiencing significant surges in their prices.

🔍 SEC Commissioners Slam SEC's Crypto Policy After ShapeShift Settlement

🚫 Unclear Standards and Opaque Policies
The recent settlement between the SEC and ShapeShift has drawn criticism from Commissioners Hester Peirce and Mark Uyeda, who argue that it highlights the agency's confusing approach to cryptocurrency enforcement.

💰 ShapeShift's $275,000 Penalty
ShapeShift, a Denver-based crypto platform, agreed to pay a civil penalty of $275,000 after the SEC accused it of offering unregistered securities. However, the lack of clarity on which assets were deemed securities raises concerns.

❓ No Harm Alleged, No Reasoning Provided
Peirce and Uyeda point out that the SEC failed to specify which of ShapeShift's 79 assets were considered investment contracts. Moreover, they argue that the agency did not even allege any harm caused by ShapeShift's activities.

🌐 Chilling Effect on Innovation
The commissioners express their dissent, stating that such cases do little to protect investors but instead create an "untenable" environment for crypto markets. They believe that these actions stifle innovation rather than safeguarding investors.

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VanEck Commits to Donating 5% of BTC ETF Profits to Bitcoin Developers at Brink 📣

➡️ Asset manager VanEck, a potential provider of a Bitcoin exchange-traded fund (ETF), has revealed plans to donate a portion of the profits from the investment vehicle to Bitcoin core developers upon approval.
🔴 In a post on X (formerly Twitter) on January 5, VanEck announced a 5% pledge to Bitcoin core developers through the nonprofit organization Brink ahead of potential approval for its spot Bitcoin exchange-traded product application. The asset management firm also disclosed that it had already made a $10,000 donation to the developers, irrespective of the SEC’s decision on the investment vehicle.

*🔔 *The firm expressed appreciation for the developers’ dedication to decentralization and innovation, describing them as the cornerstone of the Bitcoin ecosystem.

*♾ *VanEck applied for a spot Bitcoin ETF in the United States, with a decision from the U.S. Securities and Exchange Commission (SEC) expected in the coming days. The potential approval of spot Bitcoin ETFs is anticipated to bring a substantial influx of investment from traditional finance (TradFi) into the cryptocurrency space, reaching unprecedented levels.

*🟢 *While the existing crypto community generally welcomes this development, there may be some friction in certain quarters. To address this, providers like VanEck aim to demonstrate their commitment to the core Bitcoin industry by giving back to developers and supporting the ecosystem.

Orbit Bridge Hacker Suspected in Coinspaid and Coinex Breaches 📣

➡️ Blockchain analysts from Match Systems have found that the Orbit Chain hackers used the same tactics as those in several other high-profile attacks – suggesting that a cybercrime organization, possibly the infamous Lazarus Group, stands behind these hacks.

🔔 This criminal group seems to have been busy last year. Cointelegraph cited a January 3, 2024, report by Match Systems, naming Coinspaid, Coinex, and Atomic Wallet among the group’s victims.

🟢 Per the report,

**💬* “The analysis gives reason to believe that the same criminal group may be involved in the hacking of the Orbit bridge, which in 2023 had previously committed several large hacks of the cryptocurrency services Atomic wallet, CoinsPaid, CoinEx, etc., using tools and patterns of the well-known Lazarus group.”***

🟢 As the new year approached, hackers exploited Orbit Bridge, the cross-chain bridging service of a South Korean-based multi-asset Orbit Chain, making off with $82 million.

Orbit Suspends Cross-Chain Bridge Contract After $82M Exploit ⚠️

🔔 Just hours before welcoming the new year, hackers exploited Orbit Bridge, the cross-chain bridging service of Orbit Chain, making off with a staggering $82 million.
*➡️ *The project soon suspended the cross-chain bridge contract and initiated on-chain negotiations with the attackers, as reported by Beosin Alert, an on-chain analytics platform.

*📣 *Concerns about a potential exploit were first raised by pseudonymous Twitter user Kgjr on December 31, who highlighted significant outflows from the Orbit Chain Bridge protocol.

➡️ Blockchain analytics platform Arkham Intelligence revealed that the hackers orchestrated five separate transactions, transferring $30 million in Tether (USDT), $10 million in USD Coin (USDC), Ethereum (ETH), 231 Wrapped Bitcoin (WBTC), and $10 million worth of the algorithmic stablecoin DAI to fresh wallets.

Vitalik Buterin Blames Rising Transaction Fees for Web3’s Drift from Decentralization 📌

➡️ In a recent blog post titled “Make Ethereum Cypherpunk Again,” Ethereum co-founder Vitalik Buterin expressed concerns about the veering trajectory of Web3 from its original vision. Buterin contends that the foundational principles of Web3 have gradually receded as various projects within the cryptocurrency space shift focus away from the core idea of decentralization.

*✅ *Buterin identifies a substantial ideological divide, where segments of the non-blockchain decentralization community view the crypto world as a distraction rather than a kindred spirit and potent ally. Initially coined by Ethereum co-founder Gavin Wood, the term Web3 was conceived not merely as ‘Bitcoin plus smart contracts’ but as part of a broader set of technologies forming the foundation of a more open internet stack.

♾ However, Vitalik Buterin observes that the practical use of cryptocurrency for financial transactions in many countries often relies on centralized means, such as internal transfers on centralized exchange accounts or trading USDT on platforms like Tron. As degen gamblers become the primary users on a large scale, Buterin argues that this reshapes public perception and internal culture within the crypto space. He emphasizes that the rise in transaction fees has played a pivotal role in steering Web3 away from its decentralized ethos.