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• DWF Labs has invested $25M in the privacy technology startup Beldex.
• The funds will help promote the ecosystem of decentralized applications that protect user data.
• The Beldex ecosystem includes private messaging app BChat, decentralized virtual private network BelNet, Web3 browser Beldex and cross-chain privacy protocol Beldex.

DWF Labs Invests $25M in Privacy Tech Startup Beldex

Beldex Fundraising Efforts

DWF Labs has invested $25 million in the privacy technology startup Beldex. The funds will help promote the ecosystem of decentralized applications that protect user data. With this new partnership, DWF will serve as a counselor and help with marketing for the project.

Beldex Ecosystem

The Beldex ecosystem includes private messaging app BChat, decentralized virtual private network BelNet, Web3 browser Beldex and cross-chain privacy protocol Beldex which enables anonymous transfers of assets between different blockchain networks.

Crypto Winter Impact on Venture Capital Investments

The funding comes as crypto winter pushed venture capital investments in crypto projects down 91% year-over-year in January, although infrastructure projects remained relatively strong.

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• The TRU token of decentralized lending protocol TrueFi surged 220% in an hour on Thursday due to speculation around Binance’s minting of $50 million of TrueUSD (TUSD) stablecoin.
• This confusion appears to be based on the past relationship between TrueFi and TUSD, which has since been separated.
• TrustToken sold TUSD in 2020 to Techteryx and then rebranded as Archblock while TrueFi worked on decentralizing its platform.

TRU Token Rallies Over 200% After Binance’s TUSD Mint Sparks Speculation

The rally appears to come from traders mistakenly connecting TRU with TUSD, a stablecoin that had been issued by TrueFi in the past but now no longer is. By Krisztian Sandor Feb 16, 2023 at 6:03 p.m. UTC Updated Feb 16, 2023 at 7:24 p.m. UTC

Background of The Speculation

Before the rally took off, Binance, the world’s largest crypto exchange by volume, minted $50 million of TrueUSD (TUSD) stablecoin, according to blockchain data. This event sparked speculation among crypto traders about TUSD potentially gaining a larger role in trading on Binance after the regulatory crackdown on the Paxos-issued Binance USD (BUSD).

Separation Between Tokens

However, the speculation about the TRU token appears to be misplaced because the issuers of the TrueUSD and TRU tokens were separated a while ago. TrustToken sold TUSD in 2020 to a firm called Techteryx and then separated from the original protocol and was renamed Archblock last year as TrueFi embarked on a road to decentralize its platform..

Rally Of TRU Token

TRU surged as high as 14.6 cents from 4.4 cents on Binance before later paring some of the gains. The token was trading at around 11 cents at press time. Earlier this week, Paxos said it would halt minting BUSD on orders from New York regulators amid concerns that non-approved firms were using it for trading activities not allowed under U.S laws such as margin trading or derivative contracts .

Conclusion

The surge of TRU token was likely due to mistaken speculation that linked it with TUSD following news that Binance had minted $50 million worth of stablecoin tokens which caused investors to believe that there may be some kind connection between truefi’s trutoken and tusd’s relaunch despite them being separate entities today

• Kraken has agreed to shut down its cryptocurrency-staking services in the US and pay $30 million to settle charges with the SEC.
• The SEC voted on the settlement during a closed-door commissioner meeting on Thursday.
• Kraken offers several services under its staking umbrella, including a crypto-lending product offering up to 24% yield.

Kraken Agrees to Shutter US Crypto-Staking Operations

Kraken has agreed to “immediately” end its crypto staking-as-a-service platform for U.S. customers and pay $30 million in order to settle Securities and Exchange Commission (SEC) charges that it offered unregistered securities, the U.S. agency announced Thursday.

SEC Meeting

The SEC is meeting in a closed-door session on Thursday regarding the matter. CoinDesk Global Policy and Regulation Managing Editor Nikhilesh De discusses the details and wider implications for crypto regulation.

Details of Settlement

Under the settlement, Kraken will shut down all of its cryptocurrency staking services for U.S customers, including a crypto lending product offering up to 24% yield according to their website. Bloomberg reported Wednesday that Kraken was close to settling with the SEC over offering unregistered securities prior to this announcement from the agency today..

Implications

The news comes as yet another sign that regulators are taking a closer look at how cryptocurrencies are being used by exchanges and other service providers in America, making sure that they comply with existing laws and regulations when offering such services..

Conclusion

This move by Kraken shows that companies need to be aware of any potential legal or regulatory issues before launching new products or services related to cryptocurrencies or digital assets in general within the United States — even if those products or services have been available elsewhere without issue previously..

• Orion Protocol, a crypto trading venue, was the victim of a reentracy attack in which an attacker drained millions of dollars worth of cryptocurrency.
• The attacker deployed a fake token called ATK which was used to manipulate the Orion pools and utilized a self-destructing smart contract.
• Initial estimates placed losses at $2.8 million on Orion’s Ethereum implementation and $200,000 on its BSC implementation.

Orion Protocol Loses Crypto in Trading Pool Exploit

The Attack

Orion Protocol, a crypto trading venue, was the victim of a reentrancy attack in which an attacker drained millions of dollars worth of cryptocurrency. The attacker deployed a fake token called ATK which was used to manipulate the Orion pools and utilized a self-destructing smart contract.

The Losses

Initial estimates placed losses at $2.8 million on Orion’s Ethereum implementation and $200,000 on its BSC implementation. A wallet identified as the attacker’s began passing ether tokens through privacy mixer Tornado Cash shortly after the event.

CEO’s Statement

Orion Protocol CEO Alexey Koloskov said that “all funds are safe and secure” in a tweet thread following the attack. He stated that they believe the issue was not caused by any shortcomings in their core protocol code but rather might have been caused by vulnerability in mixing third-party libraries in one of their smart contracts used by their experimental and private brokers.

Price Impact

The price of Orion’s native token ORN is little changed following the apparent attack, up nearly 14% in the last 24 hours to $1.03.

Conclusion

Overall, it appears that while there were significant losses incurred from this exploit, all funds remain secure as per statements from CEO Alexey Koloskov and there has been minimal impact on ORN pricing so far due to this incident