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Developers have disclosed a critical software vulnerability within all Cosmos blockchains that run the inter-blockchain communication protocol (IBC), the network’s cross-chain messaging and bridge protocol. The developers discovered the security issue during a software audit of the Cosmos network in light of the $100 million bridge hack on BNB Chain, a blockchain that uses Cosmos […]

The post Developers disclose major vulnerability in all IBC-enabled chains on Cosmos appeared first on The Block.

Stablecoin issuer Tether has said for months it planned to improve the quality of its reserves.

The post Tether to replace commercial paper with U.S. Treasuries reserves appeared first on The Block.

Quick Take

• In this bi-weekly series, we look into some of the most interesting data and developments across the Layer 2 blockchain landscape, from DeFi and bridges to network activity and funding.
• Zk-rollups are often viewed as the most performant and secure scaling solution for Ethereum, but there are nuances and challenges that still plague the development and adoption.
• zkSync’s 2.0 mainnet is coming at the end of October and will likely usher in a surge of mercenary capital that intends to Sybil applications on zkSync for a potential airdrop in the future.
• StarkNet’s Regenesis intends to improve the fee market for users, but there has been feedback that Regenesis will render some of the existing development work obsolete.
• There are also new zkEVM efforts, which appear to have a significant premium in their valuations as opposed to non-zkEVM efforts.

Crypto asset manager launches Twitter bot to help NFT traders assess the fair value of projects.

The post CoinShares wants to harness Twitter bots for good appeared first on The Block.

Bitcoin mining hardware startup Fabric Systems raised $13 million in a seed round to fund the development of two core launch products including a liquid immersion-cooled ASIC machine it claims will achieve an energy efficiency of 20 watts per terahash (watts/TH). Investors include bitcoin miner TeraWulf, Skype co-founder Jaan Tallinn’s fund Metaplanet, Blockchain.com and 8090 […]

The post Mining hardware startup raises $13 million as it develops new liquid-cooled ASIC appeared first on The Block.

He wrote that showcasing digital art in the physical world might be exactly what the NFT market needs amid the recent downturn. 

The post Beeple sets out to tackle the real world appeared first on The Block.

The AI Material Designer will allow creators on its platform to generate textures for objects using a text description rather than code.

The post Metaverse platform Mona rolls out new AI tool to help build in online worlds appeared first on The Block.

Armed with $24 million in total funding, MetaStreet aims to build liquidity, debt and collateralization infrastructure for the NFT industry. 

The post Dragonfly and OpenSea back $10 million raise for NFT financing firm MetaStreet appeared first on The Block.

Crypto traders liquidated to the tune of $203 million as the crypto market experiences volatility around U.S. inflation release.

The post Crypto traders hit by $203 million in long liquidations, $46 million in bitcoin alone appeared first on The Block.

BlockTower’s $150 million venture fund emerges from stealth and is backed by the likes of BPI France and Mass Mutual.

The post BlockTower launches $150 million fund backed by BPI France and Mass Mutual appeared first on The Block.