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Cryptosat is participating in the Ethereum KZG ceremony and is poised to add its entropic share to the Ethereum KZG Ceremony from an earth-orbiting satellite.
Cryptosat is one of the more than 80,000 participating in the event but Cryptosat’s involvement will mark the first time this has occurred from outer space.

In a new feat aimed at improving Ethereum’s security and scalability, Cryptosat is participating in the Ethereum KZG ceremony from outer space, through its satellite, Crypto2. This satellite launched early this year aboard the SpaceX Falcon 9 and is the successor to the first satellite launch of Crypto1. Crypto2 reportedly has 30x the computational power of its predecessor.
About 550 kilometers above the ground, the satellite orbits the earth every 90 minutes moving over the North and South poles. In supplying randomness to the KZG ceremony, the project assures that the susceptible information and private data on the blockchain are physically inaccessible and any malicious remote access is thwarted by the agencies actively monitoring the satellite. In addition, satellites can work anywhere meaning geopolitical boundaries don’t apply.

Blip blop 🤖📡💻🔒 🛰️ Gm EthereumUploading the KZG ceremony state securely to the #Crypto2 satellite!
Ensuring the validity of Ethereum 🛡️💪
Track the space trusted setup ceremony 👉https://t.co/ixfOflF08V👈
⟠📡🪐🛰️⟠ pic.twitter.com/1mjWga0eWu
— Cryptosat (@cryptosat) April 4, 2023
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During Cryptosat’s entropy commit, the public will be able to view progress in real time through a dedicated dashboard aboard the satellite. Viewers can track the satellite’s trajectory and the latest status of the entropy-generating process can be viewed here: http://kzg.cryptosat.io.
Cryptosat’s Verifiable Random Beacon service will feed entropy generated aboard its Crypto2 satellite into the contribution generated for the ceremony. A press release shared with CNF further notes that each beacon is signed by the satellite itself and is verifiable using Crypto2’s public key generated in space.
Cryptosat Co-Founder Yan Michalevsky stated:
Considering the prominence of Ethereum in the blockchain ecosystem, the significance of scaling the Ethereum blockchain cannot be understated. We’re absolutely thrilled that the Ethereum Foundation funded the execution of the KZG scheme using our satellite’s trusted setup ceremony.           No spam, no lies, only insights. You can unsubscribe at any time.
Seeing our technologies serve the world’s most expansive blockchain network is an important achievement for us, especially considering it’s been less than a year since the launch of our first satellite, Crypto1, into orbit.
The setup comes ahead of the Ethereum Shanghai upgrade for which the entropy by Crypto2 is generated. This highly anticipated upgrade is scheduled for April 12. Given the magnitude of the upgrade and larger Ethereum project, Cryptosat’s satellites which are built from the ground up guarantee no third party has interfered with the computing environment prior to its being launched into orbit. By doing so, not even nation-state actors can tamper with the operations that are carried out aboard the tamper-proof satellite.
Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

Source: Tobias Arhelger – Shutterstock

While Amber Group reduced its ARB holdings, three different Ethereum whales were identified accumulating more of them.
However, Arbitrum Foundation has been accused of acting against the will of the community despite a public vote against ARB spending.

The Ethereum (ETH) ecosystem is preparing for a major network update dubbed Shanghai Upgrade, which is scheduled for April 12. Despite the mixed sentiments on the effect of the Shanghai Upgrade on the Ethereum price action, the digital asset has gained about 50 percent YTD to trade around $1,800 on Monday. About 17.9 million Ethereum (ETH) will be available for withdrawals after the Shanghai upgrade.
As a result, some analysts believe the overall effect could be increased selling pressure. On the other hand, other crypto analysts believe the Shanghai upgrade has a bullish outlook on the Ethereum market as confidence rises in the protocol. Moreover, Ethereum stakers will have the freedom over their digital assets after the event.

I’m shocked it’s a debated question that *de-risking $ETH staking by allowing for unlocks* is bullish. And unfortunately for doubtoooooors, the fact it’s even a question makes me more bullish.
— Chris Burniske (@cburniske) April 3, 2023

Ethereum Whales on the Hunt
Despite the increased regulatory scrutiny in the United States, whereby the Securities and Exchange Commission has claimed all digital assets apart from Bitcoin are unregistered securities, on-chain data shows Ethereum whales have been on the hunt for high-potential Layer 2 (L2) gems. Moreover, Ethereum (ETH) is considered a large-cap altcoin that has been experiencing diminishing returns like Bitcoin. 
According to an on-chain analysis by market intelligence platform Lookonchain, Ethereum whales have intensified their activities on Arbitrum (ARB) tokens since the project launch. Ranked 39th by market capitalization, Arbitrum (ARB) has been leading in trending crypto projects on both Coingecko and Binance’s-backed Coinmarketcap.
Lookonchain identified Ethereum addresses associated with digital asset manager Amber Group. Notably, while Amber Group reduced its ARB holdings, three different Ethereum whales were identified as accumulating more of them.
Interestingly, the largest $ARB investor has not made any transfer or attempted to sell according to onchain data.
The on-chain analytics platform noted that Amber Group sent about $10.3 million worth of $ARB to Binance and OKX centralized exchanges. As a result, the digital asset fund manager currently holds approximately 4.47 million ARB tokens.

2/ 2 related addresses of Amber transferred 11.2M $ARB ($15.8M) out, of which 7.3M $ARB ($10.3M) was transferred to #OKX and #Binance.
And currently holding 4.47M $ARB ($6.3M).https://t.co/h01Z9OeFw0https://t.co/jFBmTJyz5s pic.twitter.com/avJIbxwPBq
— Lookonchain (@lookonchain) March 31, 2023
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Notably, there are 1,275,000,000 ARB tokens in circulating supply out of 10 billion in total supply. With a market capitalization of around $1.5 billion, Arbitrum (ARB) has a reported 24-hour traded volume of about $989 million. 
Among the largest recent $ARB purchases include several trades from Binance and Okex exchanges.

3/ Whale “0xe04d” received 2,186,954 $ARB ($3.08M) from #OKX 1 day ago, then received 1,861,993 $ARB ($2.62M) from #OKX and #Binance again 10 hrs ago.
Currently holds 4,048,948 $ARB ($5.71M).https://t.co/xXAVyG81We pic.twitter.com/C72lvVAxOs
— Lookonchain (@lookonchain) March 31, 2023

Side Notes
Trading around $1.19 on Monday, down approximately 5.9 per cent in the past 24 hours, ARB has more upside in future bull markets. Moreover, Arbitrum has managed to attract large global communities and has utility value as a layer 2 scaling solution. Nevertheless, the Arbitrum Foundation has been accused of ignoring the will of the community in a recent proposal (AIP-1). Reportedly, the Arbitrum Foundation has spent part of 750 million ARB tokens despite the community voting against the move.

Arbitrum foundation made a proposal (AIP-1) to allocate 750M ARB tokens for admin and op costs, but $ARB holders voted against it
Now they said the vote was just a formality, and they have already spent 50.5M (6.7%) of the proposed 750M $ARB
Your vote is not vote pic.twitter.com/lvhBbBesum
— Eden Au (@0xedenau) April 2, 2023           No spam, no lies, only insights. You can unsubscribe at any time.

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

The linkup between GoHenry and Acorns is destined as both companies have been working together for some time already.

American financial technology and financial services firm Acorns has revealed it has acquired GoHenry, a teen-based investing application with a diversified user base. As reported by CNBC, the acquisition is the first of its kind for Acorns which is set to use the new acquisition to expand into Europe, in line with its global expansion strategy.
The financial cost of the deal was not revealed, however, the company’s co-founder and Chief Executive Officer, Noah Kerner noted that the terms of the acquisition are beneficial for GoHenry and its investors. The staff of the company will also roll over their stakes into the new Acorns world.

The Acorns outfit encourages value investing by permitting its users to invest their spare scare in assets like index funds. The company’s offerings will complement that of GoHenry whose primary goal is to instill financial education tenets in children aged 6 to 18. By its core operational model, the startup offers a spending card for kids and links it to a cash management application.
Typically, the application is managed by the parents who can limit spending among other functions. The GoHenry revenue generation model is hinged on charging for monthly subscriptions from parents, a model that also mimics the monthly subscription being charged by Acorns.
The linkup between GoHenry and Acorns is destined as both companies have been working together for quite some time.
“We pioneered the kids and teens with GoHenry, and Acorns very much pioneered investing and saving and bringing mental wellness to the up and coming, to everyday America,” said Louise Hill, co-founder, and chief operating officer of GoHenry, adding, “But both of us had ambitions to stretch beyond that in terms of customer demographics, so that we could start to serve people throughout their lifecycle, through all life stages.”
Acorns Acquisition of GoHenry, Not a Deal Born in a Hurry
According to the details shared by Kerner, neither the timing nor the acquisition deal was driven by the negative changes we’re seeing in the market today. He noted that the company looked at hundreds of deals before finally settling for GoHenry, a process that spanned several months.
The company said that as far back as 2020, it pioneered the launch of Acorns Early — an investment account for kids, pitching GeHenry as a viable option among the pack.
According to the plans being nurtured by Acorns, the name of the newly acquired firm will be changed to GoHenry by Acorns in the United States, while in the United Kingdom, it will be named as GoHenry. The startup will maintain the identity of its subsidiary PixPay in both Spain and France respectively.
With the financials not revealed, it is hard to tell what the Acorns valuation is as it was last valued at $1.9 billion following a $300 million fundraise last year. The firm’s plans to go public through a Special Purpose Acquisition Company (SPAC) were scrapped as a result of market conditions.

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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A new deal sees the WWE and UFC merge under the same umbrella for all-round combat sports offerings subject to regulatory approval.

The World Wrestling Entertainment (WWE) has agreed to merge with the Ultimate Fighting Championship (UFC) to form a publicly-traded combat sports company. According to reports, the new company will be run by a talent and media holding company and UFC parent Endeavor Group Holdings.
The WWE deal comes months after news first emerged that the popular wrestling promotion sought a buyer. The Vince McMahon-controlled company has a current market value of $6.79 billion, although the deal valued the wrestling promotion at $9.3 billion.

The deal is expected to close near the end of the year and is subject to regulatory approval.
Details of Merger
The WWE-UFC merger would see Endeavor Group CEO Ari Emanuel preside over the combined company as chief executive. Emanuel will also retain his CEO position at the original Endeavor Talent Agency/William Morris Agency-merged company. Meanwhile, WWE’s McMahon will serve as executive chairman of the wrestling promotion, while current UFC president Dana White will also remain in that role. Furthermore, Endeavor president and chief operating officer Mark Shapiro will function as executive chairman of the new company. Lastly, WWE CEO Nick Khan will retain his position as president.
Pursuant to the deal, the merger will comprise 11 people, with six appointed by Endeavor and five by WWE. Although the new company’s name will be announced later, the merger will reportedly trade under the stock ticker TKO.
Endeavor Group will take a 51% controlling stake in the combined company, with the remaining 49% going to WWE’s shareholders.
WWE shares fell in premarket trading following the deal’s announcement, while Endeavor’s shares climbed.
The WWE decision to merge with the UFC comes a day after the wrestling promotion concluded its annual WrestleMania. The premier 2-day, pay-per-view event was a spectacle that drew tens of thousands of ardent fans to Los Angeles’ SoFi Stadium. While WrestleMania was ongoing, bankers and executives from both sides of the merger were applying the deal’s finishing touches.
The newly-merged combat sports company is worth more than $21 billion, with stakeholders expecting that it would rise further. According to inside sources, the value of rights for live events such as wrestling and MMA will continue to appreciate. As Shapiro put it:
“Must-watch TV is a rarity these days. And unicorns like the UFC and WWE will be heavily in demand.”
WWE & UFC Merge to Offer All-Inclusive Scripted & Real Competitive Fights
By merging WWE with the UFC, Endeavor gains control of two of the biggest combat sports promotions with strategically esoteric offerings. With the UFC, the holding company appeals to fans who crave authentic, brutal, spontaneous, and unscripted mixed martial arts bouts. However, acquiring WWE also allows Endeavor to offer scripted and dramatic competitive fighting to fans who crave such.
It is also worth noting that there are already crossover athletes between both combat promotions. For example, current WWE superstars Brock Lesnar and Ronda Rousey also previously competed under the UFC banner. The duo were one-time UFC champions in their respective weight classes and have also held WWE championships numerous times.
Read other business news on Coinspeaker.

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Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
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The PancakeSwap DEX Version 3 also looks to introduce a “VIP” trading rewards program and a position manager feature down the stretch. 

PancakeSwap DEX has launched Version 3 on Ethereum and BNB Chain, offering improved performance and lower fees. According to reports, Version 3 introduces four different trading fee tiers of the cheapest on-chain trading fees among the decentralized exchange’s contemporaries. Notable counterparts, in this case, include Uniswap and SushiSwap.
PancakeSwap’s touted trading fee tiers are 0.01%, 0.05%, 0.25%, and 1%. These fee tiers compare favorably with the DEX’s previous Version 2 single level of 0.25%.

According to developers, the PancakeSwap DEX Version 3 also offers increased returns for liquidity providers. This implies that liquidity providers can efficiently allocate capital on specific price intervals with enhanced capital efficiency. The exchange’s developers can reap higher fee earnings from the same deposit amounts by allocating capital on smaller price ranges.
PancakeSwap DEX Version 3 to Balance between Low-Fee Traders with High Liquidity.
The latest version of PancakeSwap’s automated market maker platform is designed to create a balance between the lowest fee-paying traders and the highest accruable LP liquidity. By offering a token pair liquidity pool for each fee tier, PancakeSwap’s DEX Version 3 sees asset pairs moving toward the most rewarding tiers.
In the previous PancakeSwap version, liquidity from providers was spread out evenly along trading pair price curves. The decentralized exchange identified this pattern as inefficient because assets usually trade within specific ranges.
PancakeSwap’s Version 3 looks to introduce two new features still in development. These are a Version 3 “VIP” trading rewards program and a feature for position managers. As a tiered system, the VIP program will reward traders for trading volume by offering exclusive perks. These benefits include a 5% trading fee rebate that could potentially stoke more activity on PancakeSwap and increase its revenue potential.
Meanwhile, PancakeSwap’s position manager feature facilitates seamless trader liquidity deposit and position optimization. The tool automatically allows users to adjust their positions and fee rewards, eliminating the need for third-party integration manual calculations.
PancakeSwap Version 3 is compatible with all tools created for Uniswap’s Version 3. Furthermore, as of Monday, PancakeSwap, which boasts more than 1.5 million unique users, had over $2.5 billion in total value locked (TVL). Meanwhile, DefiLlama data reported that Uniswap had a TVL of $3.9 billion today.
Arbitrum 50M On-Chain Transfer Controversy
In other DeFi-related news, Arbitrum recently addressed its unauthorized ARB transfer controversy. The Ethereum Layer 2 protocol’s governance platform, the Arbitrum Foundation, recently offloaded 50 million ARB tokens on-chain without community approval. However, amid the backlash, Arbitrum explained that it sold ARB in the DAO’s interest. The Foundation said it loaned 40 million ARB from the total on-chain transfer to a financial markets player. Arbitrum added that it converted an additional 10 million ARB tokens for stablecoins to fund ongoing operating expenses. The Foundation also said it would not offload any more tokens ahead of the conclusion of its Arbitrum Improvement Proposal (AIP-1) ratification exercise. As it stands, 70% of the community is against the proposal.

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Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.

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According to Haider Rafique, Global Chief Marketing Officer at OKX, the launch of Train Like Dias is a true testament that Web3 can revolutionize anything without limits.

The OKX cryptocurrency exchange, a Seychelles-registered crypto firm that ranks second in daily traded volume, in partnership with Rúben Dias, a Portuguese professional footballer who plays for Premier League club Manchester City, has announced the launch of an immersive metaverse fan experience dubbed Train Like Dias. The Train Like Dias OKX collective will allow football fans to closely interact with Dias and experience his training techniques and coaching tips.
The partnership between OKX and Dias is an extension of the collaboration with Manchester City, whereby the exchange became the official training kit partner from 2020 to date. Notably, the OKX Collective is a unique virtual metaverse environment that allows football fans to gain access to special content from City players including Alex Greenwood, Ilkay Gündoğan, Jack Grealish and Rúben Dias.

“The OKX Collective is a unique way to bring fan interactions to the next level. Through the metaverse, we can give fans across the globe a glimpse into how I prepare for matchday and maybe how they can improve their own game,” Rúben Dias said.
Through his official Twitter account, Dias noted that the OKX Collective will give the fans a chance to reckon his best training drills. Moreover, the Train Like Dias are virtual and available for anyone to purchase through the OKX crypto exchange.

Join me and @OKX in the #OKXCollective metaverse to see some of my favourite training drills and give them a try! It’s your very own 1-to-1 training session… reckon you can keep up? 👀 #adhttps://t.co/NW2CR3YMKw pic.twitter.com/w91e9SFYRS
— Rúben Dias (@rubendias) April 3, 2023

Bigger Picture of OKX and Dias Partnership
According to Haider Rafique, Global Chief Marketing Officer at OKX, the launch of Train Like Dias is a true testament that Web3 can revolutionize anything without limits. With OKX taking pride in over 50 million registered global users, the Train Like Dias are expected to reach football fans much more easily.
“The possibilities that Web3 can offer are vast and only limited by our own imaginations. The way “Train Like Días” brings Rúben and his fans closer together is another great example of what this technology allows. The OKX Collective is just getting started, and we can’t wait to reveal what Alex Greenwood, Ilkay Gündoğan and Jack Grealish have in store for fans later this season,” Rafique said.
Notably, the Train like Dian fans also has a chance to get NFT to interact with through the blockchain. Furthermore, OKX noted that Dias fans can participate in competitions and win prizes including match tickets, team training kits and much more.
Meanwhile, the Manchester City Fan Token (CITY) gained approximately 1 percent in the past 24 hours to trade around $4.57. The CITY token under the Chiliz network takes pride in a market capitalization of approximately $26.49 million and a daily traded volume of about $1.9 million.

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VCs remain the major source through which institutional investors access crypto.

Venture capital (VC) firm Re7 Capital has tapped web3 advisory and crypto infrastructure firm Republic Crypto to launch a $100 million fund for liquid tokens. The fund, which is dubbed RxR Opportunities Fund, is one of the early initiatives of the 2022 strategic joint venture between the two firms. According to The Block, the fund will allow eligible investors to have access to a limited number of hand-picked crypto tokens, with a focus on those tokens with medium-sized market caps.
In a statement regarding the fund, Re7 Capital founder, Evgeny Gokhberg admits that the fund will aim at the smaller crypto names. However, he also insists that it will not involve anything speculative such as meme coins. And while Gokhberg confirms that the fund is already seeing commitments from all over, he did not disclose the exact amount that has been realized so far.

RxR Opportunities Fund has a one-year lock-up with liquidity after which it may then be unlocked every quarter. According to Gokhberg, about 15% of it would be focused on private deals such as over-the-counter (OTC) transactions.
Re7 Capital’s new fund represents a third option for its clients. The Cayman Islands-based firm first launched a market-neutral DeFi yield fund in 2021. In February, it also launched an Ether-focused fund.  Therefore, the RxR fund adds a new option for its clients.
Re7 Capital Signals the Growth of Venture Capital
Meanwhile, one can not overemphasize the impressive growth of the venture capital sector in recent times. Historically, VCs remain the major source through which institutional investors access crypto, albeit on a large scale. But recently, it appears there are more liquid opportunities for them to partake in the market. Investors now stake, tap into yield opportunities and have access to liquid tokens unlike before. The last part is exactly what Re7 and Republic hope to achieve with their new fund.
Re7 comes into the partnership with deep knowledge and experience managing a successful crypto hedge fund.

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Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his style of writing. He strongly believes in the potential of digital assets and takes every opportunity to reiterate this.
He’s a reader, a researcher, an astute speaker, and also a budding entrepreneur.
Away from crypto however, Mayowa’s fancied distractions include soccer or discussing world politics.

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Musk had previously promised to change Twitter’s logo to a Dogecoin-themed image in a conversation with the WallStreetBets chairman.

The largest and oldest meme coin Dogecoin (DOGE), had all of its metrics surging on Monday after tech billionaire and Tesla Inс (NASDAQ: TSLA) CEO Elon Musk changed Twitter Inc’s blue bird logo to a dog-themed image. According to the latest market data from Binance-backed Coinmarketcap and Coingecko, the Dogecoin price jumped as much as 25 percent to reach a high of around $0.1026. Dogecoin price during the early Asian market on Tuesday traded around $0.9692. Notably, Dogecoin’s daily traded volume spiked over 431 percent in the past 24 hours to reach about $4,059,555,102.
As a result, Dogecoin’s market capitalization gained about 25 percent to stand around $13,452,464,496 on Tuesday. Due to the sudden price movement, over $24 million was liquidated from the Dogecoin network according to market aggregate data provided by Coinglass.

DOGE Taps on Musk’s Twitter
On Monday, the Dogecoin community was surprised by Musk’s decision to incorporate the DOGE symbol as the new Twitter logo. The move sparked fresh enthusiasm in the meme coin community. Moreover, Dogecoin surpassed Polygon (MATIC) market cap and now is about to decouple Cardano (ADA) if the momentum holds in the coming days.

pic.twitter.com/wmN5WxUhfQ
— Elon Musk (@elonmusk) April 3, 2023

Musk had previously promised to change Twitter’s logo to a Doge-themed image in a conversation with WallStreetBets chairman, the group that led the 2021 short squeeze on GameStop Corp Cl A (NYSE: GME) shares.

As promised pic.twitter.com/Jc1TnAqxAV
— Elon Musk (@elonmusk) April 3, 2023

Following the recent event, Dogecoin whales were observed to have increased on-chain activity. According to research data provided by on-chain analytics platform Lookonchain, the fifth largest holder of DOGE transferred 650 million units worth approximately $61.3 million.
Side Notes
Meanwhile, things were not all rosy for the Tesla market on Monday. According to market data provided by MarketWatch, Tesla shares dropped approximately 6.12 percent to close the day trading at around $193.30. Nevertheless, the decline in Tesla shares does not have a direct correlation with Dogecoin’s price pump on Monday.
In other headlines, Musk’s lawyers asked a United States judge to throw out a $258 billion racketeering lawsuit accusing him of running a pyramid scheme to support the cryptocurrency Dogecoin. While Musk has won similar cases before, his lawyers are confident the court will throw away the ongoing lawsuit
“There is nothing unlawful about tweeting words of support for, or funny pictures about, a legitimate cryptocurrency that continues to hold a market cap of nearly $10 billion,” Musk’s lawyers said. “This court should put a stop to plaintiffs’ fantasy and dismiss the complaint.”

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The OpenEden TBILL tokens are Ethereum-based ERC-20 standards that are transferable between different blockchain wallets.

Former senior officials at the Gemini crypto exchange announced that OpenEden, a decentralized finance (DeFi) platform, had launched the first smart contract vault to offer access to US Treasury Bills (T-Bills). According to the announcement, OpenEden will enable stablecoins holders to mint Treasury Bills (T-BILL) tokens through the OpenEden T-BILL Vaul. As a result, OpenEden users can earn a US risk-free rate, with yields of about 4.8 percent per annum starting from March 2023.
Notably, Jeremy Ng and Eugene Ng, both co-founders at OpenEden, worked at Gemini’s ex-Asia Pacific head and former head of business development for the region, respectively. OpenEden is backed by several institutional investors including Circle the issuer of USDC, KPMG, Elliptic, DBS, Chainlink, and Harneys.

According to OpenEden, the TBILL tokens are Ethereum-based ERC-20 standards that are transferable between different blockchain wallets.
“From the start, we wanted to create the opposite of a ‘trust me bro’ product for DAO treasuries, Web3 institutions, and crypto funds,” Jeremy stated. “There is around $130 billion worth of stablecoins sitting on the sidelines and not generating any meaningful yield. As DeFi yields continue to lag further behind traditional financial asset yields, there is a growing demand for institutional-grade DeFi products that offer low-risk, liquid, and transparent returns to stablecoin holders.”
Similar sentiments were shared by Eugene who stated that OpenEden has spent the past year developing institutional-grade regulated DeFi products. Moreover, the OpenEden protocol taps into the Chainlink network, which connects oracles from the real world to the blockchain industry.
“The OpenEden TBILL Vault not only facilitates on-chain access to US Treasury yields but it is also integrated with a Chainlink Proof-of-Reserves to provide real-time transparency into the underlying assets of TBILL tokens,” Eugene added.
OpenEden to the World
OpenEden was launched earlier in 2022 by a team with decades in institutional finance and technology having worked with Gemini, Goldman Sachs Group Inc (NYSE: GS), Morgan Stanley (NYSE: MS), Deutsche Bank AG (Xetra: DBK), Barclays PLC (NYSE: BCS), BlockFi, Bybit, and Binance.
Notably, the issuer of TBILL tokens, Hill Lights International Ltd, is described as a professional fund established under the British Virgin Islands Securities and Investment Business Act 2010. On the other hand, OpenEden Pte Ltd, the investment manager of the OpenEden TBILL Vault, is a Registered Fund Management Company under the Monetary Authority of Singapore.
By tokenizing real-world assets, OpenEden hopes to open up the blockchain industry to a $300 trillion market that is yet to be tapped on a global scale. Moreover, the cryptocurrency market is about $1 trillion despite being in existence for the past 14 years. Nevertheless, the industry has earned a global reputation over traditional stock markets after gaining value through the Covid pandemic and also the banking crisis.

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One of the major aims of the rebranding exercise is to widen the scope of Halo Wallet operation beyond Web 3.0.

Decentralized KuCoin Wallet is expanding from being a simple Web 3.0 wallet to what can serve on a social finance (SocialFi) scale. According to a Monday announcement, the rebranding which takes immediate effect will see KuCoin Wallet take up a new name – Halo Wallet.
The Emergence of a New SocialFi Ecosystem
One of the major aims of the rebranding exercise is to widen the scope of Halo Wallet operation beyond Web 3.0. It will seek to integrate different on-chain and off-chain social media protocols like Twitter and the rest. The wallet will then create what it calls a decentralized identifier (DID) system where it will engage with popular social media influencers.

There are also more plans for the future of the newly-launched SocialFi ecosystem. Halo Wallet plans to employ a decentralized autonomous organization (DAO) model of governance. That is, it plans to gradually hand out governance rights of its SocialFi ecosystem to the community through a DAO. According to the firm, this model will encourage many users and innovators to explore unique financial strategies and trading opportunities. And with such a system in place, the SocialFi ecosystem will undoubtedly remain active, says Halo.
Meanwhile, the head of Halo Wallet Jeff Haul has also spoken on the need for decentralized wallets and their role in Web 3.0. Haul noted that decentralized wallets serve as the main entry point for users into the Web 3.0 space. In addition, he says that the unique features of the new Halo Wallet present an opportunity for users to create a complete social identity. And even more, it offers them access to quality information and prospects on social media.
Halo Wallet Sees Funding from KuCoin Ventures and Others
In what appears to be in line with the fresh start, the newly independent Halo Wallet has now received a fresh round of funding. The funding round had several notable investors in participation. Some of them include KuCoin Ventures, HashKey Capital, IDG, and other Web 3.0-focused investors.
Since launching in June 2022, the KuCoin Wallet platform has had quite an impressive run in the decentralized wallet domain. The platform offers coverage for mobile and PC and has integrated support for thousands of tokens and NFTs. It currently serves over a million users and continues to launch various services including native cross-chain swap and staking, and reached over 1 million users.

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Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his style of writing. He strongly believes in the potential of digital assets and takes every opportunity to reiterate this.
He’s a reader, a researcher, an astute speaker, and also a budding entrepreneur.
Away from crypto however, Mayowa’s fancied distractions include soccer or discussing world politics.

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