The Block
Analysts suggest that memecoins are underperforming because investors are focusing on market leaders bitcoin and ether.
Quick Take Venture capital firm Andreessen Horowitz has invested $100 million in restaking project EigenLayer, Bloomberg reported. Andreessen Horowitz is reportedly the sole backer in a round expected to be announced on Thursday.
Quick Take The Solana-focused developer platform Helius raised $9.5 million in a Series A funding round led by Foundation Capital. Foundation Capital General Partner Steve Vassallo will join Helius’ board of directors. Helius plans to grow its team of 14 employees and bolster its tech stack using the funding.
Quick Take: European Central Bank advisors have doubled down on their criticism of Bitcoin, claiming it has failed as a global decentralized currency. A post from the same ECB advisors in November 2022 claimed Bitcoin was on its “last gasp before the road to irrelevance.”
Korea Digital Asset expects increased local demand for crypto custody as the nation discusses the potential launch of spot bitcoin ETFs.
Quick Take John Morrow, co-founder of Gauntlet, said the firm found it difficult to navigate “inconsistent guidelines and unwritten objectives” of Aave’s largest stakeholders.
Quick Take Oasys said it plans to assist Kakao’s Web3 gaming division Metabora SG in its expansion into Japan.
Quick Take Startale previously secured $3.5 million from Sony, bringing the total seed round funding to $7 million, the company said.
Quick Take Arbitrum Foundation has announced that, through a partnership with Dpop Studios, it is financing a feature-length film produced by Oscar-winner Shane Boris. The film, “New Here,” will explore the world of digital art “through the lens of a new user falling down the crypto rabbit hole.”
Coinbase’s Chief Legal Officer, Paul Grewal, announced on X that the company has replied to a Securities and Exchange Commission request for comment, asking for the approval of the Grayscale Ethereum Trust listing.Grayscale has requested converting the trust into a spot ether ETF.
