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🪖Hamas Crypto Funding Is Insignificant Relative To Other Sources
The Defiant Daily
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Research from multiple on-chain forensics firms indicates crypto-based funding is an insignificant source of financial support Hamas, the Gaza-based terrorist organization. The findings contradict reports from the Wall Street Journal recently propagated by Senator Elizabeth Warren.
Vitalik Buterin, Ethereum's chief scientist and co-founder, is among a cohort of investors supporting Nocturne Labs, a team focused on enhancing the privacy of Ethereum transactions. Bain Capital and Polychain Capital were also among the backers tipping $6M towards the protocol.
Fantom deployed two testnets for its coming Sonic upgrade. The closed testnet will receive 175M synthetic transactions daily to showcase the upgrade's maximum performance, while the public testnet will enable interactions from any user.
And Variant, a venture capital firm, is doubling down on AI-powered art in the form of BottoDAO. An AI program generates thousands of generative images, with tokenholders voting on which to publish and auction as NFTs.
✍️ In today’s newsletter:
- Crypto donations to Hamas overblown
- Vitalik invests in privacy protocol
- Fantom deploys Sonic upgrades
- AI art entices VC capital
🙏Sponsored
📈 Markets in last 24 hrs:
| Ticker | Value | 24h |
|---|---|---|
| BTC | $33,847 | ↗ 2.71% |
| ETH | $1,785 | ↗ 1.12% |
| S&P 500 | $4,187 | ↙ -1.43% |
| GOLD | $1,984 | ↗ 0.46% |
| Arch WEB3 | 0.87pts | ↗ +0.43% |
| ↳ FINANCE | 0.84pts | ↙ -1.66% |
| ↳ INFRA | 0.97pts | ↗ 3.24% |
| ↳ CONSUMER | 0.92pts | ↗ 0.6% |
Learn more about Arch Indices here.
🎬 WATCH
Watch our video looking at the bullish market action surrounding BlackRock's spot Bitcoin ETF bid. We also spoke to serial entrepreneur and investor Danilo Carlucci about venture capital funding. And check out our podcast with Rocket Pool General Manager, Darren Langley, to learn about the liquid staking landscape.
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Politics
No, Hamas Isn’t Raising Millions Through Crypto
TLDR On-chain research from prominent blockchain forensic firms indicates crypto donations comprise a relatively small source of funding to Hamas, the terrorist organization. The data suggests the activity associated with cryptocurrency service providers utilized by Hamas was tallied as transactions directly executed by the group.
SO WHAT The findings contradict reports from Wall Street Journal later propagated by Democratic Senator Elizabeth Warren claiming the group raised nine figures through digital assets.
Ethereum
Ethereum Creator Vitalik Buterin Invests in Nocturne Labs' $6M Seed Funding Round
TLDR Vitalik Buterin, Bain Capital Crypto, and Polychain Capital are among a cohort of investors that backed Nocturne Labs, a team focused on enabling private transactions on Ethereum via zero-knowledge proofs, with $6M in seed funding.
SO WHAT Protocols anonymizing Ethereum transactions have recently attracted the ire of regulators. Last August, the U.S. Treasury Department took the unprecedented decision of sanctioning the smart contracts for Tornado Cash, a cryptocurrency mixing protocol.
Read More: Ethereum Creator Vitalik Buterin Invests in Nocturne Labs' $6M Seed Funding Round
SPONSORED POST
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Scaling
Fantom Launches Testnets For Sonic Upgrade, Estimates 6,700% Throughput Gain
TLDR Fantom deployed two testnets for its upcoming Sonic upgrade. A closed network will ingest 175M transactions daily to showcase its maximum throughput, while a public testnet will facilitate public engagement.
SO WHAT Fantom hopes the Sonic update will reverse a long-standing downtrend, with the network's TVL tumbling 99.4% from all-time highs posted 18 months ago.
READ MORE: Fantom Launches Testnets For Sonic Upgrade, Estimates 6,700% Throughput Gain
NFTs
Variant Doubles Down On AI Artist Botto
TLDR Botto, an AI-powered decentralized art generator, received extra investment from Variant, a VC firm. The protocol allows tokenholders to vote on which AI-generated artworks will be showcased and sold as NFTS.
SO WHAT NFTs have been among the web3 asset classes hardest hit by the protracted cryptocurrency downtrend. As the hype surrounding AI-generation cartoonized depictions of cute animals subsided, projects utilizing NFTs have increasingly sought to provide new utilities and rights to tokenholders.
Read More: Variant Doubles Down On AI Airtist Botto
🔎 OUR REPORTERS ARE WATCHING
🌍 ELSEWHERE
- Proof-of-Stake asset market capitalization drops 7% to $254 billion (The Block)
- Bitcoin’s Recent Outperformance Fueled by Institutional Demand, JPMorgan Says (CoinDesk)
- Genesis moves for early bankruptcy payouts as NYAG suit applies pressure (CryptoSlate)
