a16z Launches $30M Gaming Fund
Ethena Labs' ENA Token Launch, MakerDAO Plans To Support Ethena With $600M Allocation
Welcome to Coinfeeds Daily Digest! Today we cover a popular Solana Telegram trading bot called Solareum shutting down following recent, massive Solana drain of over $520K from over 300 users that, turns out, originated from Solareum — not BONKbot like people suspected earlier. Ethena Labs is making headlines with its ENA governance token launch and airdrop of 750M ENA following the success of its yield-bearing synthetic dollar USDe, which is now widely used in DeFi. MakerDAO has put forward a proposal to allocate $600M in DAI into USDe and sUSDe stablecoins to support Ethena Labs through the Morpho Labs protocol. Also, in Q1, Tether has added 8,888 BTC to its holdings, becoming 11th largest Bitcoin holder, and a16z is unveiling $30M early-stage gaming startup accelerator as part of their Speedrun program.
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a16z Launches $30M Gaming Startup Fund
The Speedrun program is designed as an early-stage accelerator, focusing on startups that are innovating gaming. This includes areas such as web3, artificial intelligence, virtual reality, and augmented reality. Each startup selected for the program will receive an investment of $750,000. However, only around 1% of applicants will make the cut. | Read More
Ethena Labs' ENA Token Debut
Ethena Labs has launched its governance token, ENA, which debuted at 64 cents. This move comes on the heels of Ethena's successful operation of its $1.3 billion yield-earning synthetic dollar, USDe. The launch was accompanied by an airdrop of 750 million ENA tokens, accounting for 5% of the total supply. Following the airdrop, ENA's value saw an over 8% increase, pushing its market cap to nearly $500 million. | Read More
MakerDAO Proposes Allocation of $600M in DAI Towards USDe & sUSDe
The proposal by MakerDAO suggests a cautious yet ambitious plan to invest $600 million of DAI into USDe and sUSDe through the DeFi lending protocol, Morpho Labs. The primary objective behind this significant investment is to support the expansion and development of Ethena Labs, which issues both USDe and sUSDe. | Read More
Tether Added 8,888 Bitcoins To Reserves in Q1
Tether has been actively increasing its Bitcoin holdings throughout 2024. Tether's aggressive acquisition strategy saw it adding approximately 8,888 Bitcoin to its treasury in the first quarter alone. This move increased Tether's total Bitcoin holdings to 75,354 BTC, valued at around $5.2 billion. The purchases were made at an average price of $30,305 per Bitcoin. | Read More
Telegram Solana Bot Solareum Shuts Down After $523K Drain
The Solana-based Telegram trading app, Solareum, has announced its closure following a significant security breach that led to the loss of $523,000 from its users' wallets. This incident has affected over 300 users. The exploit, initially suspected to be linked to the BONKbot, was later confirmed to be associated with Solareum itself. | Read More