Arbitrum

Synthetix launches multi-collateral perps on Base amid revamp

December 19, 2024 Coin Telegraph

Arbitrum

The DeFi protocol also launched an in-house perpetuals trading app.

Decentralized finance (DeFi) protocol Synthetix has begun accepting multiple token types as collateral for leveraged perpetuals trading on Coinbase’s Base network, Synthetix said on Dec. 18. 

Launching so-called “multicollateral perps” on Base, one of Ethereum’s most popular layer 2 (L2) scaling networks, is part of a broader revamp of the DeFi protocol after a governance shakeup in October. 

Adding multi-collateral perps will allow users to post tokens such as Coinbase Wrapped BTC (cbBTC) and Coinbase Wrapped ETH (cbETH) as trading collateral, Synthetix said.

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Vitalik Buterin urges Web3 wallets to improve security, privacy

December 3, 2024 Coin Telegraph

Arbitrum

The Ethereum co-founder also proposed changes to ease transfers among layer-2 scaling networks.

Ethereum co-founder Vitalik Buterin urged Web3 wallet developers to implement features improving privacy and security in a Dec. 3 blog post.

“[A] user only benefits from any decentralization, censorship resistance, security, privacy, or other properties that Ethereum and its applications offer to the extent that the wallet itself also has these properties,” Buterin said in the blog post.

He also proposed ways to ease transfers among Ethereum’s layer-2 (L2) scaling networks, such as Optimism and Arbitrum.

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Sui, Franklin Templeton launch ecosystem partnership

November 22, 2024 Coin Telegraph

Arbitrum

The asset manager will support builders on Sui and pilot emerging blockchain technologies on the network. 

Asset manager Franklin Templeton has partnered with Sui to develop new blockchain technologies and use cases on the layer-1 network, Sui said on Nov. 22.

The partnership will prioritize “supporting Sui ecosystem builders and deploying novel technologies leveraging the Sui blockchain protocol,” Sui said.

Franklin Templeton has aggressively expanded its tokenized security products to new blockchain networks, including Ethereum layer-2s Arbitrum and Base.

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BlackRock Announces BUIDL Expansion Across Aptos, Arbitrum, Avalanche, Optimism and Polygon

November 13, 2024 The Daily Hodl

Altcoins

Asset management titan BlackRock is announcing the expansion of its proprietary BUIDL, the company’s on-chain money market fund, across five new blockchains. According to an announcement by real-world asset tokenizing firm Securitize, BlackRock’s brokerage partner, BUIDL will be expanding to layer-1 blockchains Aptos (APT) and Avalanche (AVAX) as well as layer-2 scaling solutions Arbitrum (ARB), […]

The post BlackRock Announces BUIDL Expansion Across Aptos, Arbitrum, Avalanche, Optimism and Polygon appeared first on The Daily Hodl.

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Franklin Templeton Expands Blockchain Record-Keeping System Benji to Ethereum Layer-2 Scaler Base

November 1, 2024 The Daily Hodl

Altcoins

Global investment firm Franklin Templeton’s proprietary blockchain-integrated record-keeping system Benji is now on crypto exchange Coinbase’s Base. With the development, the Franklin OnChain U.S. Government Money Fund (FOBXX) – which invests at least 99.5% of its total assets in U.S. government securities, cash and repurchase agreements – can now be traded on the Ethereum (ETH) […]

The post Franklin Templeton Expands Blockchain Record-Keeping System Benji to Ethereum Layer-2 Scaler Base appeared first on The Daily Hodl.

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Radiant Capital halts lending after exploit

October 16, 2024 Coin Telegraph

Arbitrum

Approximately $58 million has been lost from a cybersecurity breach at the lending protocol, one expert said. 

Radiant Capital halted its lending markets after the cross-chain lending protocol suffered a more than $50 million cybersecurity breach on BNB Chain and Arbitrum, according to Radiant and two cybersecurity experts.

“Radiant Capital contracts were exploited on BSC & ARB chains with the ‘transferFrom’ function, which allowed to drain users’ funds, namely $USDC $WBNB $ETH and others,” Web3 cybersecurity firm De.Fi Antivirus said in an Oct. 16 post on the X platform.

De.Fi said the exploit drained approximately $58 million, mirroring estimates from another cybersecurity firm, Ancilia Inc., which pegged losses at around $50 million, according to another X post.

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L2 Scaling Challenges May Undermine Ethereum and Bitcoin’s Long-Term Security

October 7, 2024 Bitcoin.com

Arbitrum

Ethereum and Bitcoin, two of the world’s largest blockchains, are facing significant challenges in scaling their networks. As more users and transactions move to layer two (L2) solutions, these systems could undermine the security and sustainability of the base layer (L1), with fees and rewards for miners and validators dwindling. Growing L2 Adoption Raises Concerns […]

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Coinbase Teases Coinbase Wrapped Bitcoin (cbBTC) Expansion to Ethereum (ETH) Rival Arbitrum (ARB)

September 27, 2024 The Daily Hodl

Altcoins

Top US-based crypto exchange Coinbase is teasing its new wrapped version of Bitcoin (BTC) to Ethereum (ETH) layer-2 scaling solution Arbitrum (ARB). In a new announcement on the social media platform X, Coinbase Assets tells its audience that Coinbase Wrapped Bitcoin (cbBTC) is “coming soon” to the smart contract platform Arbitrum. Earlier this month, Coinbase […]

The post Coinbase Teases Coinbase Wrapped Bitcoin (cbBTC) Expansion to Ethereum (ETH) Rival Arbitrum (ARB) appeared first on The Daily Hodl.

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Vitalik tells Ethereum L2s ‘Stage 1 or GTFO’ — Who makes the cut?

September 17, 2024 Coin Telegraph

Arbitrum

According to L2Beat, six Ethereum layer 2s have already reached Stage 1, while most others are still stuck at Stage 0.

Ethereum co-founder Vitalik Buterin stated on Sept. 12 that he will no longer consider a network a “layer 2” if it has not reached “Stage 1” by the end of the year.

“The era of rollups being glorified multisigs is coming to an end,” he stated, adding that “the era of cryptographic trust is upon us.” 

The question of whether a network is a layer 2 isn’t just a technicality for the Ethereum community.

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DeFi platform Delta Prime suffers $6M breach

September 16, 2024 Coin Telegraph

Arbitrum

The ongoing hack has already netted the attackers over $6 million worth of stablecoins, which have been swapped to ETH by the attacker.

Delta Prime was hacked for at least $6 million worth of digital currency, in the latest crypto-related cybersecurity incident.

The decentralized finance (DeFi) platform first suffered a loss of approximately $4.5 million, onchain security platform Cyvers, who wrote in a Sept. 16 X post:

Delta Prime hack. Source: Cyvers

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Veteran Trader Peter Brandt Sees Bitcoin Flashing Bearish Signal, Warns BTC Crashing Below $80,000 a Possibility