• Cameron Winklevoss is suing Barry Silbert for failing to meet his final offer payment of $1.47 million.
• Bitcoin and Lightning Network have seen innovative developments with Google Cloud and Lightning Labs respectively.
• Ethereum Name Service, DeFi protocols, and Altcoins such as Multichain MPC bridge platform have made announcements or faced security breaches.
Bitcoin Developments
Google Cloud’s recently announced a partnership with infrastructure provider Voltage, unveiling a new trajectory for the tech giant’s Bitcoin and Lightning ambitions. Lightning Labs, the primary Bitcoin Lightning Network development firm, has rolled out a revolutionary set of tools designed for AI applications. A recent report by JP Morgan looks to play down the effect that the approval of a Spot Bitcoin ETF might bring to the crypto sector. Bitcoin miners have raked in an impressive revenue of $184 million in the second quarter of 2023, breaking previous records. Perhaps because of incredibly bullish statements by Blackrock CEO Larry Fink, Bitcoin has set a new yearly high with expectations of going much higher.
Ethereum Developments
Ethereum Name Service Labs has announced plans to introduce Layer 2 interoperability for its ENS domains during a community call on June 28. In the wake of a series of high-profile security breaches plaguing the DeFi space, a group of Ethereum community members has put forth a new standard, ERC 7265 , aiming to enhance the security of DeFi protocols. The latest statement from the Uniswap Foundation has claimed that the launch of version 4 of the protocol depends on Ethereum’s upcoming Cancun upgrade.
Altcoin Developments
The Multichain MPC bridge platform has seen abnormally large outflows, fueling concerns that the platform could be a target for a multi-million dollar exploit. Binance no longer supports deposits and withdrawals for several cross-chain bridge tokens linked with the Multichain project . Ethereum founder Vitalik Buterin has expressed his sympathy and concerns for Solana and other cryptocurrencies in the context of SEC’s crackdown on crypto markets.
Technology Updates
The Open Network (TON) has announced release an on-chain encrypted messaging feature , allowing private messages between TON users.
Business News
After Cameron Winklevoss penned an open letter threatening litigation against Barry Silbert over latter’s role in Gemini Earn Program, cryptocurrency exchange Gemini is suing DCG , parent company bankrupt crypto broker Genesis . A new currency pegged commodities , particularly gold , will be announced BRICS summit August 22 . Crypto Exchange Bitfinex launched its own stablecoin called RENVU which pegged USDT 1:1 ratio .