Author: Crypto News Live

TL;DRYesterday, Terraform Labs and its former CEO, Do Kwon, agreed to settle their SEC fraud case…for $4.5 billion.Full StoryYesterday, Terraform Labs and its former CEO, Do Kwon, agreed to settle their SEC fraud case…for ~$4.5 billion. In May, a Manhattan jury found that Kwon and Terraform Labs misled investors about the success and stability of the Terra blockchain before it imploded, leaving investors $40B in the hole.Of the $4.5B owed, Kwon is personally liable to pay $204 million, which the SEC said would “send an unmistakable deterrent message.” But here’s the thing:It makes sense that the company might have $4.3B…

Initially, Gamee, a hypercasual gaming ecosystem under Animoca Brands, operated its games on the social app Telegram. However, the recent surge in activity within the network can be attributed to several factors.A pivotal moment took place when Polygon was hacked for $15 million in early 2024, prompting the transfer of Gamee’s GMEE token to Ethereum. While this strategic decision was crucial, it was not the sole factor behind the rise in engagement.The integration of the TON blockchain in Telegram has been a key factor in this growth, allowing for the effortless creation of non-custodial wallets. With the TON token now…

During a recent interview with Bloomberg, Ledger Chief Experience Officer Ian Rogers opined that blockchain and AI are actually two sides of the same coin: “I think that AI and blockchain are two sides of the same coin. AI brings digital abundance, and blockchains are fundamentally about digital scarcity. We are already living in a world where you are looking at web pages that were made by AI that, you know, was fed by Web pages that were made by AI” he said. Rogers predicts that the blockchain technology will be useful for determining the authenticity of various content that…

Uncharted has just released Gangster Arena 2 on Blast—a Layer 2 solution integrated with Ethereum. This innovative game combines elements of mobile idle tycoon mechanics with PVP game theory, providing a distinct combination of strategic and idle gameplay tailored for the degen community.Overview of Gangster Arena 2Gangster Arena 2 immerses players in the role of a mob boss, with the ultimate goal of increasing their gang’s reputation and reaching the top of the leaderboard. The game is designed for those who enjoy idle and AFK (away from keyboard) gameplay, allowing for quick log-ins to manage their gang on a daily…

ETH’s long traders have witnessed significant liquidations in the past 24 hours. The coin’s options volume and Open Interest have also declined.  Ethereum [ETH] witnessed a spike in long liquidations on the 11th of June, according to Coinglass. Information from the derivatives market data provider showed that the altcoin’s long liquidations on that day represented its highest since the 23rd of May.  Source: Coinglass In an asset’s derivatives market, liquidations happen when a trader’s position is forcefully closed due to insufficient funds to maintain it. Long liquidations happen when an asset’s value drops unexpectedly, forcing traders with open positions in…

Parallel, a new NFT-based card game powered by Ethereum, had a successful launch on Wednesday as it entered the Epic Games Store. This move strategically places Parallel in front of the platform’s vast audience of over 270 million users, including 75 million monthly active users.As Parallel joins the ranks of top PC games on the Epic Games marketplace, its reach is expected to expand significantly within the digital card game industry, providing players with increased accessibility and exposure.Parallel, created by the renowned Parallel Studios team with a team composed of industry veterans from the likes of Blizzard, Epic Games, Ubisoft,…

peaq has announced a strategic collaboration with Olas and Nevermined to unlock AI agents’ potential. This partnership promises to usher in a new era of connected devices operating on Web3, leveraging the unique capabilities of each platform to revolutionize AI-commerce and machine autonomy.—peaq, a layer-1 blockchain specializing in DePIN and Machine RWAs (real-world assets), is expanding its ecosystem with the introduction of AI agents by Nevermined and Olas. Nevermined is developing a decentralized payments protocol tailored for AI agents, facilitating AI-Commerce, such as booking airline tickets through AI-powered personal assistants. Meanwhile, Olas provides a framework for launching and co-owning AI…

Ethereum price is slowly moving higher above the $3,800 resistance zone. ETH could gain bullish momentum if it clears the $3,880 and $3,920 resistance levels. Ethereum is holding gains above the $3,800 level. The price is trading above $3,840 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support near $3,840 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase unless there is a close below the $3,800 support. Ethereum Price Eyes More Upsides Ethereum price remained stable above the $3,760 support zone. ETH formed a…

Shared security protocol Symbiotic came out of stealth today. Symbiotic allows networks to customize their staking implementation, including collateral assets, node operator selection, rewards and penalty mechanisms. Ethereum serves as the protocol’s coordination and orchestration layer. Whereas EigenLayer is pitched as “a marketplace for decentralized trust,” Symbiotic is a sort of operating system for decentralized coordination. “The goal was to create a protocol that is suitable for almost any decentralized network,” Symbiotic co-founder and CEO Misha Putiatin told Blockworks. Symbiotic acts as a thin coordination layer that offers high flexibility and control to network builders. As such, it will be…

Parallel, an NFT-driven competitive card game built on Ethereum, launched Wednesday on the Epic Games Store, potentially reaching a far larger audience in the process. The Epic Games Store is a prominent PC gaming marketplace, and had 270 million users as of the end of 2023, including some 75 million monthly active users. Epic Games is the creator of free-to-play shooter hit Fortnite and has acquired other games like Rocket League, but the store hosts games from a wide array of studios. Parallel, which was GG’s pick for the 2023 game of the year, expanded access earlier this year with…