The Block

Quick Take The Federal Reserve said its enforcement action against Farmington Bank last year “ensured the bank’s operations would wind down in a manner that protected the bank’s depositors.”

Quick Take Reflexer Finance’s stablecoin protocol HAI will have an airdrop on Feb. 12. Over 18,000 qualified participants will receive 22.3% of HAI’s governance token KITE.

Quick Take Layer 2 startup LightLink secured $4.5 million of seed funding in a round led by Thai media company T&B Media Global and real estate developer MQDC. LightLink’s technology will support a “multiverse project that blends the virtual and physical worlds.”

Quick Take The Layer 1 network Solana restarted after five hours of going dark.

Quick Take The move aims to reduce friction for users purchasing cryptocurrency using Robinhood’s order engine.

Quick Take Glif has raised $4.5 million in a seed funding round led by Multicoin Capital. The largest Filecoin protocol is also set to offer reward points ahead of its token launch.

Bitcoin’s pull-back below the $43,000 mark can in part be attributed to miners selling their reserves, according to Tuesday’s Bitfinex report.Miners are selling their reserves in order to bolster profits in preparation for the mining reward reduction when the halving occurs in April, the analysts added.

Wemade’s net loss expanded to 189.5 billion won ($142.6 million) in the fourth quarter of last year from 74.4 billion won in the same period of 2022, its earnings report showed.

Quick Take: Solana has confirmed an outage on its mainnet, with engineers across the ecosystem currently investigating. This is the first major outage for a year and follows a series of such incidents during 2022.

Quick Take Crypto yield platform Haru allegedly misrepresented its risks to depositors while advertising a 12% return.