Citadel Securities and DTCC partner as omnichain interoperability protocol LayerZero launches a new exchange, expanding institutional market infrastructure for digital assets.
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Dragonfly partner Haseeb: VVV's essence has been misunderstood. Venice is essentially a company, not a decentralized network or on-chain protocol.
On July 5th, PANews reported that Dragonfly partner Haseeb released a video on the X platform stating that Venice is essentially a company, not a decentralized network or on-chain protocol, and the vast majority of its customers are not crypto users. There is a clear misunderstanding in the market regarding its token, VVV: VVV does not represent company equity, nor does it possess attributes similar to "network equity." Even after the airdrop, the company founders invested millions of dollars of their own funds in operations and did not raise funds by selling tokens. Haseeb pointed out that no founder would give up 50% of a company's equity for free in the early stages, and the narrative that equates tokens with equity is logically flawed. He also denied claims of "unclear information," stating that the project team has always clearly defined VVV's positioning.
Citadel Securities is seeking over $7.9 million in damages from former employees who founded the crypto company.
Odaily Odaily that Citadel Securities has filed a lawsuit in London against Leonard Lancia, former head of its European derivatives systematic market making team and co-founder of high-frequency crypto trading firm Portofino Technologies, seeking over £6 million, or approximately $7.9 million. Citadel Securities accused Leonard Lancia and his colleagues of planning their startup while he was still employed by the company, and won a labor arbitration case, receiving damages and legal costs. In addition, Citadel Securities filed a lawsuit against Portofino Technologies in the United States in 2023, accusing it of stealing trade secrets. Leonard Lancia and Portofino Technologies have denied all allegations. The London High Court rejected Leonard Lancia's request last Friday to lift the asset freeze order. (Bloomberg)
Tether's USDT0 interoperability protocol network has surpassed $100 billion in cross-chain transfers.
Odaily Odaily reports that Tether's asset interoperability protocol USDT0 has announced that its cross-chain transfer volume has surpassed $100 billion. This milestone means that USDT0 has become the fastest project in history to reach $100 billion in cross-chain stablecoin transfers in 525 days. Data shows that approximately 6.5 million active wallets currently use USDT0 as their settlement infrastructure, covering various participants including exchanges, hedge funds, and ordinary users. The network's cumulative token turnover rate has reached approximately 27 times. USDT0 stated that with the increasing demand for AI Agent trading and institutional cross-chain settlement, the need for a "24/7, low-friction, unified settlement system" is rapidly rising.
BlackRock's Aladdin partners with Ethena to expand the interoperability of the BUIDL stablecoin with RWA.
Odaily Odaily reports that BlackRock and Ethena Labs have announced a collaboration to provide institutional investors with deeper access to Ethena-related products on BlackRock's Aladdin platform and to enhance the liquidity and interoperability of its tokenized dollar instruments, including BUIDL. Under the agreement, Ethena will support a $100 million liquidity facility through Securitize for BlackRock's USD Institutional Digital Liquidity Fund (BUIDL). This facility allows eligible clients to exchange BUIDL for USDC, USDtb, and other supported stablecoins, with two-way conversions possible outside of trading hours. Robert Mitchnick, Head of Digital Assets at BlackRock, stated that this liquidity arrangement will enhance the frictionless interoperability of tokenized Treasury bonds, further unlocking the structural advantages of on-chain Treasury products. BUIDL, an Ethereum-based tokenized US Treasury fund launched in 2024, currently manages approximately $3 billion, making it one of the world's largest tokenized Treasury product offerings. This collaboration also further strengthens BlackRock's presence in the real-world assets (RWA) and digital dollar infrastructure sectors. (The Block)
Ethlabs: Funding can support 2-3 years of operation; it has a complementary partnership with the Ethereum Foundation.
According to Foresight News , Ethlabs, an independent non-profit research and development organization supported by treasury companies such as BitMine, has responded to frequently asked questions since its founding a week ago. Regarding funding, Ethlabs stated that it has not yet disclosed the specific amount raised, but the funds already received are committed to supporting the team's operations for 2-3 years (including talent recruitment), and emphasized that it will continue to raise funds, not raise funds all at once; the community round is still open, and the team plans to close this round of funding after announcing a new batch of supporters. The donation address has been updated from eth-labs.eth to ethlabs.eth (both are acceptable). Regarding their work direction, Ethlabs stated that they are still defining specific milestones and roadmaps, but shared three main areas of focus: Chain: Core protocol work, including L1 execution layer scaling, blob scaling, and shortening final confirmation and transaction inclusion time; Platform: The middleware layer between the protocol and developers, including cross-chain interoperability, block building marketplace, and EVM roadmap; Growth: Driving the implementation of technologies such as the Fast Confirmation Rule on mainstream L2 and centralized exchanges. This rule can reduce the deposit time from Ethereum to L2/exchanges to a few seconds, but requires each party to connect individually. Regarding its relationship with the Ethereum Foundation, Ethlabs stated that the two have a complementary partnership, emphasizing that Ethereum does not belong to any single organization. EF, client teams, core developers, L2, wallets, etc., are all indispensable components, and Ethlabs is an "additional supplementary force" to Ethereum. Regarding the choice of a non-profit model, the team stated that the funders are major ETH holders and Ethereum builders, and that they will not gain control over the direction or influence the roadmap through their contributions. Furthermore, the team believes that the mechanism of "continuous fundraising in the future" itself provides a form of accountability.
Golden Pact and Anubis Labs have entered into a strategic incubation partnership to jointly develop a new financial ecosystem.
Odaily Odaily reports that Golden Pact has entered into a strategic incubation partnership with Anubis Labs and has officially migrated to the Anubis Chain. Leveraging its AI privacy blockchain capabilities and the RWA digital securities ecosystem, Golden Pact will be fully upgraded from a decentralized finance protocol for gold assets to an AI+RWA+DeFi 3.0 driven digital reserve asset platform. Simultaneously, a Golden Age Pool co-construction plan has been launched, offering participants multiple benefits including ecosystem NFTs and token airdrops.