Cardano-Bitcoin bridge may be first step to true Bitcoin DeFi

November 18, 2024 Coin Telegraph

Bitcoin

The new bridge lets users withdraw Bitcoin even if most Cardano nodes become malicious.

The upcoming Cardano-Bitcoin bridge, based on the Grail protocol, may be a first step toward providing decentralized finance (DeFi) applications that are secured by Bitcoin, documents from the bridge’s underlying protocol reveal.

On Oct. 24, Emurgo, the development team backing Cardano, announced that it was developing the bridge in partnership with Grail’s developer, BTCOS.

In an X post on the following day, Cardano founder Charles Hoskinson clarified that the network will eventually host DeFi applications secured by Bitcoin, adding that, “With babel fees, Bitcoin developers can develop Hybrid Cardano/Bitcoin applications in Aiken and pay their transaction fees in bitcoin.”

Sky, formerly Maker, launches USDS stablecoin on Solana

Arca, Blocktower to merge into unified crypto platform

November 14, 2024 Coin Telegraph

Arca

BlockTower’s venture capital arm, BlockTower Venture Capital, will continue to operate independantly.

Arca and BlockTower Capital agreed to merge into a unified cryptocurrency investment platform, according to a Nov. 13 announcement.

“Investors have been clamoring for regulated digital assets investment offerings for years,” Rayne Steinberg, Arca’s CEO said in a statement.

The merger will help ensure the firms possess “the resources and expertise to effectively manage our current product offerings and broaden our investment options,” Steinberg added.

Sky, formerly Maker, launches USDS stablecoin on Solana

Sequoia to make $100M windfall from Stripe’s Bridge acquisition: Report

October 29, 2024 Coin Telegraph

Acquisition

Sequoia Capital owns 16% of Bridge, which is set to be acquired by payments platform Stripe for $1.1 billion.

Venture capital firm Sequoia Capital, which owns 16% of stablecoin platform Bridge, could rake in over $100 million from Stripe’s $1.1 billion acquisition deal of the firm.

Sequoia made a $19 million investment in the crypto firm’s Series A round, which took place within the last year, Bloomberg reported on Oct. 29, citing people familiar with the matter.

Other VC firms are also set for hundreds of millions of dollars in windfall from their stakes in Bridge, including Ribbit Capital, Haun Ventures, Index Ventures, and Bedrock Fund Management.

Sky, formerly Maker, launches USDS stablecoin on Solana

Payments Giant Stripe Acquires Stablecoin Firm Bridge for $1,100,000,000, According to TechCrunch Founder

October 22, 2024 The Daily Hodl

Payments Giant Stripe Acquires Stablecoin Firm Bridge for ,100,000,000, According to TechCrunch Founder

Altcoins

TechCrunch founder Michael Arrington says payments giant Stripe has completed the acquisition of stablecoin startup Bridge. In an X post referencing a report about Stripe’s discussions to acquire Bridge, the tech publication executive says the $1.1 billion purchase of Bridge is a done deal. A Bloomberg report last week indicated that Stripe had been in […]

The post Payments Giant Stripe Acquires Stablecoin Firm Bridge for $1,100,000,000, According to TechCrunch Founder appeared first on The Daily Hodl.

Sky, formerly Maker, launches USDS stablecoin on Solana

Stripe acquires stablecoin platform Bridge for $1.1B: TechCrunch founder

October 21, 2024 Coin Telegraph

Stripe acquires stablecoin platform Bridge for .1B: TechCrunch founder

Acquisition

The deal marks one of crypto’s largest acquisitions, allowing more businesses to deal in stablecoins.

Payment processing giant Stripe has reportedly acquired stablecoin platform Bridge in a $1.1 billion deal, according to TechCrunch founder Michael Arrington.

The deal had been in “advanced stages” from at least Oct. 17, according to reports at the time, which representatives from both organizations did not address.

“This deal is done. $1.1b,” Arrington wrote in an Oct. 20 X post.

Sky, formerly Maker, launches USDS stablecoin on Solana

Stripe Acquires Stablecoin Platform Bridge in Record $1.1 Billion Crypto Deal

October 20, 2024 Bitcoin.com

Stripe Acquires Stablecoin Platform Bridge in Record .1 Billion Crypto Deal

bitcoin.com

Payments company Stripe has acquired stablecoin platform Bridge in a $1.1 billion transaction, marking the largest acquisition in the crypto industry to date. Techcrunch founder Michael Arrington confirmed the news through a post on X, emphasizing the significance of this milestone deal. The acquisition of Bridge reflects Stripe’s growing commitment to cryptocurrency. Bridge offers software […]

Sky, formerly Maker, launches USDS stablecoin on Solana

Stripe Doubles Down on Stablecoin Market, Reportedly in Advanced Talks to Acquire Bridge for $1 Billion

October 18, 2024 Bitcoin.com

Stripe Doubles Down on Stablecoin Market, Reportedly in Advanced Talks to Acquire Bridge for Billion

bitcoin.com

Payments giant Stripe is in advanced discussions to acquire the San Antonio-based stablecoin platform Bridge for $1 billion, according to reports by Bloomberg and Forbes. Founded by former Coinbase employees Zach Abrams and Sean Yu, Bridge specializes in enabling businesses to create, store, and transact with stablecoins like Tether’s USDT and Circle’s USDC, having raised […]

Sky, formerly Maker, launches USDS stablecoin on Solana

Stripe in talks to acquire stablecoin platform Bridge — report

October 18, 2024 Coin Telegraph

Bridge

Stablecoins pegged to the United States dollar have outpaced Bitcoin as a store of value in developing countries with runaway inflation.

Stripe, a payments processing company, is reportedly in talks to acquire stablecoin platform Bridge, according to unnamed sources familiar with the deal.

According to Bloomberg, the deal has not yet been finalized, and either party could still walk away without inking an agreement.

The potential acquisition by Stripe comes amid the payment company's planned re-entry into the digital asset sector after a six-year break from providing crypto payment services.

Sky, formerly Maker, launches USDS stablecoin on Solana

Ethereum-Based Interoperability Altcoin Explodes After Binance Futures Listing

August 16, 2024 The Daily Hodl

Altcoins

An interoperable Ethereum (ETH)-based decentralized finance (DeFi) platform is skyrocketing after suddenly gaining support from Binance. In a new announcement, the world’s largest crypto exchange platform by volume says that it will be adding futures contracts for interoperability protocol Synapse (SYN). “To expand the list of trading choices offered on Binance Futures and enhance users’ […]

The post Ethereum-Based Interoperability Altcoin Explodes After Binance Futures Listing appeared first on The Daily Hodl.

Sky, formerly Maker, launches USDS stablecoin on Solana

Alex bridge on BNB Smart Chain drained of $4.3M after suspicious upgrade — CertiK

May 14, 2024 Coin Telegraph

alex

The deployer account changed an Alex contract’s implementation address, and multiple tokens were subsequently drained from its bridge.

According to a May 14 report from blockchain security platform CertiK, the Alex protocol bridge on the BNB Smart Chain network suffered $4.3 million in suspicious withdrawals just after its contract was suddenly upgraded.

Alex is a Bitcoin layer-2 protocol. According to its official website, it provides decentralized finance applications on Bitcoin. Its bridges are used to transfer assets from other networks, such as BNB Smart Chain and Ethereum, to its own network.

Blockchain data confirms that the Alex deployer account performed five identical upgrades to the “Bridge Endpoint” contract on BNB Smart Chain beginning at 3:56 pm UTC. Approximately $4.3 million worth of Binance-Pegged Bitcoin (BTC), USD Coin (USDC), and Sugar Kingdom Odyssey (SKO) were subsequently removed from the BNB Smart Chain side of the bridge.

Bridge

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