Altcoin
Weekly article roundup: 5/27-5/31
A summary of the most important news of the week.
Recapping the week in DeFi
As the DeFi and crypto space continues to evolve at a rapid pace, it is essential to stay informed on the latest developments and trends. Our weekly roundup gives you a concise yet comprehensive overview of the most significant news and trends in the DeFi and cryptocurrency space, helping you stay informed and up-to-date with the latest happenings.
Elon Musk has denied advising Donald Trump on cryptocurrencies
Elon Musk and Donald Trump have discussed the possibility of Musk advising Trump on issues such as cryptocurrency, border security and the economy if Trump wins the upcoming presidential election. Bloomberg reports ongoing discussions, with the Trump campaign considering inviting Musk to speak at the Republican convention. The Wall Street Journal notes that these talks are still in the early stages. However, Musk denied advising Trump on the cryptocurrency, clarifying that he never discussed it with the former president.
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A Binance executive detained in Nigeria is reportedly suffering from malaria
According to DL News, Tigran Gambaryan, a Binance executive, has been jailed in Nigeria for nine weeks and is suffering from malaria and a throat infection. Gambaryan, who resides in Atlanta, Georgia, arrived in Nigeria on February 26 to talk about Binance’s crypto operations.
Last Thursday, Gambaryan collapsed in court during his money laundering trial in Abuja and was admitted to hospital. His wife, Yuki, criticized his detention as “unjust”.
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Pudgy Penguins will launch AAA Web3 mobile game in 2025
Pudgy Penguins, known for its colorful NFTs on Ethereum, is entering the gaming industry. In collaboration with Mythical Games, they plan to launch a AAA mobile game in 2025. The game will feature the unique lore and humor of Pudgy Penguins while offering accessible, high-quality gameplay. It is expected to reach over five million players and will use the Mythos Chain (MYTH), which boasts over one million active wallets.
Learn more Here.
Babylon Raises $70 Million in Largest Funding Round in the Bitcoin Ecosystem
Babylon, a project focused on a decentralized world secured by Bitcoin, has completed a record $70 million funding round, Bloomberg reported on May 30. Led by Paradigm, the round included investments from Bullish Capital, Polychain Capital and others. This funding will help Babylon advance its mission for a decentralized economy secured by Bitcoin.
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Japanese cryptocurrency exchange DMM Bitcoin loses over $300 million in cyber attack
DMM Bitcoin, a Japanese cryptocurrency exchange, reported a major security breach on May 31, 2024, resulting in the theft of over $300 million worth of Bitcoin. According to Arkham Intel, the stolen amount amounts to 4,502.9 BTC, which is approximately 48.2 billion yen. DMM Bitcoin has since taken measures to prevent further losses and protect remaining assets.
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