Tornado Cash sentence ‘radically unfair and unreasonable’ — Nym CEO
    31 May 2024

    Harry Halpin, the CEO of Nym, a privacy-focused project, recently shared his thoughts on the sentence handed down to Tornado Cash developer Alexey Pertsev. During an interview with Cointelegraph’s Jonathan DeYoung at Consensus 2024, Halpin characterized the sentence as “radically unfair and unreasonable” and provided these analogies: “The punishment is not proportional either. Years in…

    McHenry urges Senate to pass FIT21 crypto bill before election
    31 May 2024

    Outgoing United States Republican lawmaker Patrick McHenry has pressured the Senate to pass a key crypto-regulating bill before the November presidential election. The Financial Innovation and Technology for the 21st Century Act (FIT21) passed the House on May 22 with 71 Democrats and 208 Republicans in favor. “This should be a wake-up call for the Senate that…

    Vitalik Buterin: L2s are ‘cultural extensions’ of Ethereum
    30 May 2024

    Ethereum layer-2s aren’t just about scaling — they’re also a rallying point for “subcultures” that grow the Ethereum ecosystem more than the single chain could do alone, says Vitalik Buterin, one of the creators of Ethereum. In a May 29 blog post on Buterin’s self-hosted blog, the Ethereum co-founder examined the benefits of layer-2 blockchains outside of…

    PayPal’s new stablecoin on Solana will offer ‘confidential transfers’
    30 May 2024

    PayPal’s PYUSD stablecoin, which was recently deployed on Solana, will offer “confidential transfers” as an additional feature. On May 29, payments platform PayPal announced that it had deployed its dollar-pegged stablecoin on Solana, having only previously been available on Ethereum. One notable extension initialized for PYUSD is “confidential transfers,” which will allow merchants to “provide confidentiality for…

    Ethereum ETFs — 3 pitches that could hook Wall Street
    30 May 2024

    Ethereum, the world’s second-largest blockchain network, is expected to be the focus of the next spot crypto exchange-traded fund, but it might have a sales pitch problem. While Ethereum has been described as “the internet of money,” a “world computer,” and “digital oil” in the past — some worry that Ethereum doesn’t have an elevator…

    Tensions in DeFi industry exposed by LayerZero’s anti-Sybil strategy
    29 May 2024

    LayerZero, a cross-chain interoperability protocol, is gearing up for its first token airdrop, but its strategy against token farmers is causing division. The main concern surrounds LayzerZero’s “anti-Sybil strategy.” Sybil activity occurs when a group or individual creates multiple wallets to interact with a protocol in the hopes of qualifying for its airdrop multiple times….