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- Fantom Raises $10M For Sonic
Fantom Raises $10M For Sonic
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🚀 Fantom's New Layer-1 Blockchain Launch
Launch and Funding Details: Fantom is launching Sonic, a new Layer-1 blockchain, funded with $10 million. The project aims to enhance scalability and security. Sonic is expected to attract more developers and users to the Fantom ecosystem.
Key Features of Sonic: Sonic will use a novel consensus mechanism called Lachesis, offering high throughput and low latency. The new blockchain promises faster transaction speeds and lower costs, which are crucial for decentralized applications (dApps).
CEO's Vision for the Future: Michael Kong, CEO of Fantom, stated that Sonic will revolutionize the blockchain space by addressing current limitations. He invites developers to build on Sonic, highlighting its potential to drive innovation in the industry. Read More.
️ On today's Top Picks:
- ⚖️ US SEC approves all Spot Ethereum ETFs.
- 🚀 Solana & Ripple ETFs could launch in 2025.
- 🔜 Swell TGE to occur in next few weeks.
- 🛡️ OP Labs & Base participate in security drill.
Read time: ⏰ 8 minutes
Crypto News
• ⭐️ US SEC Approves all Spot Ethereum ETFs; trading to begin once S-1 forms are approved.
• ⭐️ Solana $SOL & Ripple $XRP ETFs could launch in 2025 according to Standard Chartered.
• Ethereum Foundation $ETH to develop formal policy addressing potential conflicts of interest.
• Grayscale launches NEAR $NEAR & Stacks $STX Trusts.
• US Senator Cynthia Lummis posts, "We are building a pro-crypto army in Congress." on X.
• US House Of Representatives pass CBDC Anti-Surveillance State Act, an anti-CBDC bill.
• Coinbase $COIN pushes to appeal case against US SEC citing FIT21 vote.
• Delaware Supreme Court rules BitGo’s $100M suit against Galaxy Digital can proceed.
• Worldcoin $WLD served enforcement notice from Hong Kong regulator.
• Kabosu, the face of the Doge meme & Dogecoin $DOGE passes away.
Alpha
• Puffer launches integration on Morpho with $pufETH / $WETH vault.
• Kelp launches native restaking with $wrsETH on zkSync.
• Affine launches $ultraETH Testnet & Test-to-Earn Program.
• Blast to be upgraded to support blobs lowering gas fees on May 27th.
• Build On Bitcoin (BOB) launches Wave 2 of SummerFest on Intract.
• Bebop launches Hop On Scroll achievement on Rep3.
• Stargate announces V2 launch timelines & liquidity migration details.
• Caldera launches Quest #2 of Caldera Crusade on Galxe.
• OpenLayer launches May Quest campaign on Galxe.
Airdrops
• Weekly Airdrop News & Claims by Earndrop.
• ⭐️ Swell TGE to occur in next few weeks & increase token allocation of Season 1.
• Kinto Engen claim & proto-governance proposals are live.
• Binance announces Lista $LISTA on Binance Megadrop.
• Kroma revises tokenomics & increases community airdrop allocation up to 17%.
• ICYMI Zora Airdrop Strategy by Earndrop.
• 11 Airdrop Completely Free To Join by Alpha Drops.
Finance News
• Marathon Digital $MARA to invest $80M in Kenya's energy infrastructure.
• Morgan Stanley $MS CEO James Gorman to step down at year's end.
• South Korea announces $19B support package for its chip industry.
Security and Exploits
• ⭐️ OP Labs & Base participate in Security Alliance security drill to test incident response coordination.
• Google releases Chrome security update patching a high-severity security flaw.
• Threat actors observed using fake websites masquerading as legitimate antivirus software.
• Researchers discover malware 'BLOODALCHEMY' targeting government organizations in Asia.
Token Unlocks
• Acala / 4.66M $ACA / ~$479K / MAY 25
• AltLayer / 105.21M $ALT / ~$35M / MAY 25
• Nym / 25M $NYM / ~$4M / MAY 27
• Yield Guild Games / 18.69M $YGG / ~$15M / MAY 27
Funding
• ⭐️ Fantom Foundation raises $10M in Strategic funding led by Hashed.
• Cysic, a ZK proof generation layer; raises $12M in Pre-Series A funding co-led by HashKey Capital & OKX Ventures.
• Plume, an RWA chain for crypto natives; raises $10M in Seed funding led by Haun Ventures.
• Zaros, a perpetuals DEX powered by boosted (re)staking vaults; raises $1.8M in funding.
• Dora Factory, an infrastructure for staking & governance; raises an undisclosed amount in Strategic funding.
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That’s it for today’s edition! See you soon.
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