In this week’s roundup: Coinbase’s Layer-2 blockchain launch, stern warnings from DeFi teams to hackers, advancements in CBDC technology, and more.
Chainspot team
🚀 Coinbase Unveils ‘Base’ Layer-2 Blockchain
Coinbase is set to launch its Layer-2 blockchain, ‘Base’, on August 9, allowing ETH bridging between Ethereum-based networks. The platform has garnered significant support, including partnerships with Coca-Cola, Atari, and OpenSea, and has already seen over $68 million in bridged ether.
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⚡️ DeFi Teams Issue Stern Warning to Curve Finance Hacker
Curve Finance, MetronomeDAO, and Alchemix Finance have issued an on-chain message to the Curve Finance hacker, warning of legal consequences. They offered a 10% bounty of the stolen funds for their return by August 6. If declined, the teams will expand the bounty publicly. The hackers behind the $52 million Ethereum hack targeted Curve Finance, MetronomeDAO, and Alchemix Finance pools.
In a notable Ethereum blockchain transaction, the perpetrator engaged in communication with Alchemix, one of the victims, to confirm an address for asset restitution. This resulted in the transfer of 4,820 $ETH, equivalent to around $8.9 million, to Alchemix’s multisig wallet, as recorded on Etherscan blockchain data.
☁️ Google Cloud Joins Forces with Celo Network for Ethereum Layer-2 Migration
Google Cloud has entered a partnership with Celo Network. The move positions Google Cloud alongside existing validators like Animoca Brands and Deutsche Telekom. As a validator, Google Cloud aids in securing the network by verifying new transactions. Additionally, their solutions will assist Celo’s transition from an independent blockchain to an Ethereum-based Layer-2 network. This migration aims to bolster Celo’s security and amplify its impact.
🏠 Fubon Bank and Ripple Collaborate on Real Estate Tokenization and CBDC-Backed Loans in Hong Kong
Hong Kong’s Fubon Bank has teamed up with US fintech firm Ripple to launch a real estate tokenization project, set to roll out in the third quarter. Leveraging Ripple’s CBDC platform, Fubon Bank aims to tokenize properties and streamline property transactions and lending processes. The pilot program will offer efficient and secure property-backed loans using digital Hong Kong dollars.
As we wrap up this week’s news review, it’s clear that the blockchain and cryptocurrency landscape is rapidly evolving. Stay tuned for more updates!
Chainspot team
