- Curve Finance founder Michael Egorov has announced that they have resolved the liquidation risk issue, leading to a rebound in CRV prices.
- Prominent market maker DWF Labs has formed a partnership with the meme coin GmeStop (GME Coin).
- NEAR Foundation’s new independent entity, Nuffle Labs, has raised $13 million in funding.
Get the latest on CRV, GME Coin, and other promising altcoins in this comprehensive crypto news update.
CRV Rebounds Following Founder’s Announcement
Earlier today, Curve Finance faced significant liquidation risks causing a steep decline in CRV token prices. Founder Michael Egorov took to social media to address the issue, stating that the team has successfully mitigated the risks and cleared 93% of the bad debts. Egorov acknowledged that his liquidity positions were excessively large and led to $10 million in bad debt. He reassured users that actions have been taken to prevent further market disturbances, which has in turn stabilized CRV prices, allowing it to rise by 40% to trade at $0.2975 from an intraday low.
DWF Labs Partners with GmeStop (GME Coin)
DWF Labs, a leading market maker known for managing assets like FLOKI and BONK, has announced a partnership with the meme coin GmeStop (GME Coin). This collaboration is anticipated to bring multiple benefits to the GME Coin community, including improved liquidity and potential listings on major exchanges. GME Coin representatives highlighted that DWF Labs’ involvement would enhance their market presence significantly.
Nuffle Labs Secures $13 Million in New Funding
The NEAR Foundation has launched an independent entity called Nuffle Labs, which has successfully raised $13 million in strategic funding. Nuffle Labs focuses on developing NEAR’s Data Availability Layer (NEAR DA), NEAR Fast Finality Layer (NFFL), and other components of the NEAR modular product suite. The financing round was led by Electric Capital, with contributions from the NEAR Foundation’s strategic grant.
Injective and Bitoro Introduce Cost-Efficient Futures Trading Platform
Injective Protocol and Bitoro Network are collaborating to launch an innovative on-chain perpetual futures trading platform. This platform aims to offer instant and economically viable trading options for real-world assets (RWA) and cryptocurrency futures, catering to institutional-level trading needs.
CLS Global Makes Strategic Investment in DeepLink Protocol
CLS Global, a full-service consultancy firm, has announced a strategic investment in DeepLink Protocol, a decentralized AI cloud gaming protocol. This investment is expected to enhance the project’s growth and market success by leveraging CLS Global’s extensive industry expertise.
Conclusion
This week has been filled with significant developments in the crypto world, from Michael Egorov’s successful resolution of Curve Finance’s liquidation risks to major partnerships and new funding initiatives in the altcoin space. Stay informed and watch these events closely as they have the potential to impact market dynamics substantially. For up-to-the-minute updates, follow us on our social media channels and join our Telegram and YouTube communities.
