Latest news with #VitalikButerin
Gizmodo
11 hours ago
- Business
- Gizmodo
Trump Claims He Built Crypto—Just as His Family Cashes In
In a series of bombastic new comments on June 27, President Donald Trump didn't just embrace the world of cryptocurrency; he claimed to be its founding father. Painting a picture of a failing industry that he single-handedly rescued, Trump cast himself as the visionary who transformed crypto into a 'very powerful industry' essential for American dominance. It's a bold claim, especially for a man who, as recently as 2021, called Bitcoin a 'scam' that was 'based on thin air.' The pivot from crypto's highest-profile skeptic to its self-proclaimed architect is stark. Speaking at a White House press conference, Trump positioned his involvement as a long-held secret, predating his 2024 run. 'I got involved with it a couple of years ago, and before the second term,' he said. 'I got involved before I decided to run… It's become amazing. I mean, it's the jobs that it produces, and I notice more and more of you pay in Bitcoin.' This new narrative conveniently overlooks crypto's actual history, which began with Bitcoin's creation in 2009 and was shaped by innovators like Ethereum co-founder Vitalik Buterin. Instead, Trump frames himself as the unlikely savior of crypto who saw its potential when no one else did. 'That was an industry that wasn't doing particularly well,' Trump claimed, before making his most jaw-dropping assertion: 'I'm president, and what I did do there is build an industry that's very important.' For those who follow the space, the U-turn is whiplash-inducing. In 2021, Trump's main objection was that crypto was 'another currency competing against the dollar,' telling Fox Business that he wanted the dollar to be 'the currency of the world.' Today, he argues the opposite. 'I mean, people are saying it takes a lot of pressure off the dollar, and it's a great thing for our country,' Trump said. He now frames crypto not as a threat, but as a strategic asset in a geopolitical chess match against China. 'If we didn't have it, China would,' he declared. 'China would love to, and we've dominated that industry.' While Trump's rebranding may seem sudden, it follows a period of intense crypto lobbying and a series of pro-crypto moves by his administration. Since returning to the White House, Trump has fully embraced the industry, which many see as the future of finance. This new wave of financial services is largely built on blockchain technology, a decentralized digital ledger that records transactions securely without needing a middleman like a bank. This 'decentralized finance' (or DeFi) is at the heart of the crypto movement. The Trump administration has actively worked to legitimize it. With the Genius Act, it recently secured passage of a law for stablecoins (a type of crypto pegged to a stable asset, like the U.S. dollar, to reduce volatility) and even announced the creation of a U.S. crypto reserve. This regulatory embrace, which also includes his family's growing crypto empire, has fueled a market rally. Bitcoin is currently trading, according to data firm CoinGecko, over $105,000, and the total value of the crypto market is nearly $3.4 trillion, a colossal recovery from the 'crypto winter' of recent years, which saw the spectacular collapse of exchanges like FTX. For an industry that has weathered fierce debate and volatility, Trump's public anointment is a powerful, if revisionist, seal of approval. The man who once saw crypto as an enemy of the dollar now sees it as a patriotic legacy that he personally built.
Arabian Post
4 days ago
- Business
- Arabian Post
Polymarket Poised for Landmark $200m-Plus Investment, Unicorn Valuation within Reach
Polymarket, the world's largest blockchain-based prediction market platform, is on the verge of completing a funding round exceeding $200 million that would value the company at over $1 billion. The strategic investment reflects growing investor confidence in forecasting platforms as tools for real-time insights and market intelligence. The company, founded in 2020 by Shayne Coplan and headquartered in New York, has previously secured $70 million across Series A and B rounds led by General Catalyst, Founders Fund, alongside participation from Ethereum co-founder Vitalik Buterin. That capital helped Polymarket scale its operations offshore, particularly following regulatory setbacks in the United States, where it withdrew services under pressure from the Commodity Futures Trading Commission. Sources indicate the new investment round will build on these foundations, raising upwards of $200 million and propelling Polymarket into unicorn status with a valuation north of $1 billion. Those close to the transaction describe a diverse syndicate of venture capital firms, strategic investors and high-profile figures from the crypto and financial sectors, though official names are yet to be disclosed. ADVERTISEMENT Polymarket's appeal lies in its novel combination of decentralised finance, crowd-sourced wisdom and smart contract automation. The platform allows participants to trade on real-world events—ranging from elections and policy outcomes to entertainment and economic indicators—by buying and selling shares reflective of outcome probabilities. Transactions occur using USDC on Polygon, ensuring on-chain settlement and transparency. Trading volumes attest to the platform's influence. In August 2024 alone, Polymarket processed approximately $472 million in trades, with political markets—especially those related to the US presidential election—accounting for nearly $1 billion in wagers by November 2024. Peter Thiel's Founders Fund highlighted its trust in Polymarket's market intelligence: 'checking Polymarket when breaking news happens has become a habit'. That compelling performance comes amid regulatory headwinds. Polymarket has barred US users since reaching a settlement with the CFTC in early 2022, which included a US$1.4 million fine and the appointment of former CFTC chairman J. Christopher Giancarlo to its advisory board. These changes aimed to address compliance concerns as the platform expanded internationally. More recently, the FBI reportedly raided Coplan's home in autumn 2024 as part of an investigation into whether US-based activity violated these agreements. Despite these challenges, Polymarket has continued to deepen its appeal. Ethereum co-founder Vitalik Buterin has publicly supported the broader application of prediction markets, terming them pioneers in 'Info Finance,' an area he believes can enhance journalism, governance and scientific transparency. Polymarket's data is now cited within Bloomberg's Terminal services, offering institutional investors fresh analytical layers based on global betting dynamics. The potential $200 million funding round is expected to include an allocation of token warrants enabling investors to participate in a future token issuance by Polymarket. Earlier reporting by CoinDesk and The Defiant in late 2024 highlighted a $50 million interim funding plan tied to a utility token offering, intended to integrate with or supplant the UMA oracle dispute-resolution system. That mechanism would allow users—or token holders—to validate market outcomes, an evolution that could expand Polymarket's governance and on-chain autonomy. ADVERTISEMENT Market observers view this token strategy as a logical advancement. Rising volumes and user engagement on election forecasts have revealed limitations in relying solely on external oracles; introducing a native token could decentralise verification and cement Polymarket's position in the governance of its own markets. Emerging trends suggest Polymarket is transitioning from an insurgent, crypto-native prediction exchange to a mainstream information infrastructure. Its user base now spans political analysts, financial professionals and retail traders. The recent partnership with X integrates Polymarket's probabilistic feeds into social media dynamics, allowing users to access market sentiment in real-time alongside breaking news. Yet questions over regulatory alignment remain. The CFTC is reportedly examining off-shore platforms that permit US bettor access, and lawmakers are considering broader prohibitions on event-based derivatives. The fallout from the 2024 FBI inquiry adds a layer of legal uncertainty, even as Polymarket navigates regulatory environments in Europe and Asia, where its platform has faced access restrictions from gambling regulators in Belgium, Poland, Singapore and France. As Polymarket nears completion of its landmark funding round, it stands at a crossroads defined by opportunity and scrutiny. A valuation exceeding $1 billion would underscore investor conviction in its model, but unlocking the full potential of prediction markets may depend as much on regulatory clarity as on capital infusion.
Int'l Business Times
09-06-2025
- Business
- Int'l Business Times
Galaxy Ventures Backs RISE Chain, $8M Raised to Launch Fastest Zone for Real-Time Apps on Ethereum
Sydney, Australia, June 9th, 2025, Chainwire With the support of Galaxy Ventures and previous investment from notable industry leaders like Vitalik Buterin, RISE sets out to solve the blockchain adoption challenge with its exponentially faster blockchain technology; offering real-time performance of as low as 5ms latency and a 100k TPS target, while maintaining a decentralization-first roadmap. RISE, a real-time blockchain scaling Ethereum with record throughput and ultra-low latency, announced a $4 million investment from Galaxy Ventures, bringing total funds raised to date to $8 million. This latest funding round will enable RISE to continue to push the boundaries of blockchain performance and develop the next generation of blockchain applications. Offering instant transaction speeds is a key pillar of bringing more assets, enterprises, and users onchain, but building a blockchain that provides this has been difficult to date. RISE, a new blockchain built on top of Ethereum, solves this with its breakthrough transaction architecture, powered by Shreds which enable record-breaking latency as low as 5-milliseconds. This is especially significant for advanced DeFi use cases such as orderbook strategies, options, high-frequency trading, and market making. RISE launched its public testnet earlier this month, which has already undergone significant battle testing, reaching over 2 billion transactions, including over 50,000 transactions processed in a single 1-second block. This enables developers to experiment and build onchain apps that operate with a new standard of performance, introduced as 'Infinite Speed': real-time performance, decentralized. By rethinking blockchain design from first principles, RISE addresses a fundamental tradeoff where low latency and high throughput previously required compromising decentralization. Competing blockchains often rely on centralized approaches, introducing censorship risk and single points of failure. RISE was built from day one to deliver unstoppable performance without sacrificing decentralization, enabling real-time transactions on widely accessible, standard hardware. RISE will also implement performance-compatible based sequencing to leverage Ethereum's vast network of validators and unlock synchronous composability between Ethereum and RISE. Key Differentiators of RISE: Shreds: Sub-blocktime transaction confirmations enabling as low as 5ms round-trip latency Scalable Throughput: Currently benchmarked at over 50,000 TPS, with plans to exceed 100,000 TPS Based Sequencing (Coming Soon): Unlocking a true extension of Ethereum and solving liquidity fragmentation for users Secured Shreds (Coming Soon): Preconfirmations economically secured by Ethereum Validators, significantly improving the security profile 'Performance is only meaningful if it lasts,' said Sam Battenally, co-founder and CEO of RISE. 'RISE was built to stay fast—forever. This investment from Galaxy Ventures underscores the need for infrastructure that doesn't just scale technically, but scales trustlessly. We're excited to accelerate toward mainnet and bring the next generation of crypto apps into reality.' RISE will use the funding to support product and app development in the lead-up to mainnet launch. Builders can explore the testnet now at 'RISE is the first project we've seen that addresses the scalability trilemma without material security tradeoffs,' said Neil Bhuta, Investor at Galaxy Ventures. 'It brings a level of speed, scalability, and decentralization that is essential to supporting a new generation of high-performance applications. We're proud to back a talented team that is pushing the boundaries of blockchain technology.' About RISE RISE is a next-generation Ethereum Layer 2 blockchain redefining performance with 'Infinite Speed'—delivering instant transaction confirmation at unprecedented scale, while upholding Ethereum's core principle of decentralization. Its architecture enables as low as 5ms latency and will support over 100,000 TPS, unlocking a radically improved experience for both developers and users. Seed investors include Ethereum co-founder Vitalik Buterin and AAVE founder Stani Kulechov. For more information, users can visit Contact Co-Founder and CEO Sam Battenally RISE Labs sam@
Yahoo
09-06-2025
- Business
- Yahoo
RISE Chain Secures $4M From Galaxy to Power Ultra-Fast Layer-2
RISE Chain, a layer-2 blockchain focusing on speed and low latency, has secured a $4 million investment from Galaxy Ventures, the venture arm of Galaxy Digital. The capital will go towards building out the project's forthcoming mainnet. This brings RISE's total capital raised to $8 million, following earlier support from prominent crypto figures including Ethereum co-founder Vitalik Buterin. The team behind RISE is focusing on building a high-throughput, low-latency blockchain to address what it views as a core barrier to mainstream adoption: performance at scale. The project is hoping to take on competitors with their ultra-fast transaction speeds like MegaETH, or big layer-2 incumbents like Arbitrum or Base. According to a press release shared exclusively with CoinDesk, RISE achieves sub-block transaction confirmations—called 'Shreds'—that deliver latencies as low as 5 milliseconds. Its target throughput is over 100,000 transactions per second (TPS), exceeding most existing Layer 1 and Layer 2 networks, according to the team. Ultimately, the team behind RISE believes that the fastestness of its product will be a natural fit for speed-sensitive applications like central limit order books. 'I think [that one] is just ultimately inevitable,' said Sam Battenally, the CEO of RISE, in an interview with CoinDesk. Beyond that, Battenally believes the use cases are quite vast, but believes 'a lot of interactive social networks and gaming seems to be quite promising.' RISE is currently in testnet, but the team hopes to launch its mainnet later this year as well as a token related to the project. Read more: Galaxy, Fireblocks to Operate Nodes on Bitcoin Layer-2 Botanix
Yahoo
05-06-2025
- Business
- Yahoo
Vitalik Buterin Uses Privacy Tool Railgun Again, Signaling Ongoing Embrace of On-Chain Anonymity
Ethereum co-founder Vitalik Buterin transferred around $2.6 million worth of tokens through the privacy-focused protocol Railgun on Wednesday, in what appears to be both a routine financial transaction and a quiet endorsement of blockchain-based privacy. It's unclear how the funds sent to Railgun — which included a mix of ETH and USDC — were ultimately used. Railgun is a tool designed to obfuscate on-chain activity, enabling investors to use decentralized finance (DeFi) protocols without transactions being tied to their personal crypto wallets. It is not the first time Buterin has used the protocol. In March, he moved approximately $500,000 through Railgun in a similar transaction. While Buterin has not commented directly on the latest transfer, his continued use of the tool underscores his long-standing advocacy for privacy as a core pillar of Ethereum's infrastructure. Buterin and other Ethereum developers have repeatedly argued that user privacy should be treated as a default feature, not an optional add-on. In an April post to an Ethereum developer forum, Buterin outlined several recommended steps for making the blockchain more private. The Ethereum community's push for privacy comes amid ongoing scrutiny of privacy-preserving blockchain tools by regulators. While Railgun aims to enable legitimate private transactions, similar tools have drawn legal fire. Tornado Cash—once the most widely used Ethereum-based mixer—was sanctioned by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) in August 2022. The government alleged the platform was used to launder over $1 billion, including funds linked to North Korea's Lazarus hacking group. However, on March 21, 2025, OFAC officially lifted the sanctions against Tornado Cash following a federal appeals court ruling that the agency had overstepped its authority. Railgun, described on its website as a "DeFi privacy toolkit," represents a newer generation of privacy systems built on Ethereum, combining zero-knowledge cryptography with smart contract composability. This newer system, unlike Tornado Cash, incorporates screening features to deter illegal transactions. Notably, in February, Buterin commended Railgun for its successful prevention of a money-laundering attempt. Also unlike Tornado Cash, which is primarily built to help users transfer funds anonymously, Railgun helps users interact directly with DeFi protocols — allowing investors to transact discretely while maintaining full control of their funds. The project has received support from some privacy advocates and developers, who argue that tools like Railgun can serve legal use cases such as financial privacy for activists, journalists, or high-net-worth crypto "whales" who want to transact with discretion. Following Buterin's latest transaction, Railgun's native token, RAIL, experienced a 15% uptick over the past 24 in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
