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• Jump Trading Restores $320 Million Stolen in Wormhole Hack

• Hedera Hashgraph Launches Smart Contract2.0 Mainnet; Partners with Ubisoft

• Bored Ape Yacht club creators discuss investment with A16z

• CityCoins Mining Has Given Miami $5.25 Million

• Tezos and baby doge partner with top football clubs, Manchester United (and Hoffenheim).

Jump Trading Restores $320 Million Stolen in Wormhole Hack

Jump Trading’s parent company Wormhole has offered refunds for its customers following the recent $320 million (20,000 wETH), hack of DeFi Bridge Protocol.

Wormhole Team revealed Wednesday that a hacker fraudulently created 120,000ETH. This allowed him to move 80,000ETH from the main chain and keep 40,000 ETH.

Jump Trading, Wormhole’s parent, stated it believed in multichain technology and Wormhole would be an important infrastructure. Accordingly, the crypto VC firm said it had recovered the $320 Million stolen during the hack.

Wormhole, the DeFi bridge protocol (Wormhole), confirmed publicly on Friday February 4 that funds have been restored. In addition, Wormhole has resumed its bridge’s operations after completely patching the network from the attack.

Flipsider:

• Wormhole also reached out to the hacker In exchange for information about the perpetrator, he was offered $10,000,000

What You Need to Care About

The move from Jump Trading may have prevented a further collapse of Solana’s decentralized finance (DeFi) ecosystem.

Hedera Hashgraph launches Smart Contract2.0 Mainnet. She partners with Ubisoft

Hedera Hashgraph has launched the Hedera Smart contracts 2.0 mainnet, a major upgrade to the self-acclaimed third generation distributed ledger.

Hedera will now integrate its Hedera Smart Contract Service (HTS) with its Hedera Token Service. Hedera claims that the upgrade will allow developers to be more agile and build upon the network to expand it.

Hedera claims that smart contracts platforms will be charged low, predictable gas fees. High scalability is promised by the upgrade, which will allow the blockchain to process as much as 15 million units of gas every second.

Hedera announced its partnership with Ubisoft, a leading videogame developer. They will team up to create and launch next-generation gaming via the Hedera Network partnership.

Flipsider:

• Hedera Hashedgraph token (HBAR), has been positive about the news. It gained 12% within the last 24 hours.

Hedera Hagraph’s 24-hour price chart (HBAR). Source: Tradingview

What You Need to Care About

Hedera’s recent announcement of a transition to an open source Hashgraph will allow for these new developments to help it draw more developers.

Bored Ape Yacht club creators discuss investment talks with a16z

Yuga Labs (a16z), creators of one the most popular NFT collections in the world, Bored Ape Yacht Club is believed to be in negotiations with Andreessen Hoowitz (a16z), over a financing round.

The report states that the completion of the round could result in the startup reaching a valuation up to $5 billion. According to the report, Yuga Labs seeks a multimillion dollar stake in a16z and other VC firms.

This collection of 10,000 Bored Ape NFTs has continued to gain popularity. It was bought by Eminem, Steph curry, Serena Williams and Neymar Jr.

Flipsider:

• Despite NFTs’ steep rise to an estimated $44 billion in sales in 2021, the real value of digital arts has remained a huge debate.

What You Need to Care About

Yuga Labs will be the first institution investment that the company has received if it receives funding through a16Z.

CityCoins Mining Has Given Miami $5.25 Million

Francis Suarez became the mayor of Miami in 2021. He was a pro-Bitcoin politician who pushed for worker salaries and tax, encouraged mining and issued MiamiCoins on the CityCoin platform.

The Miami mayor announced his first cryptocurrency payout through CityCoins. This was in the form of cryptocurrency generated by his mining efforts.

CityCoins uses an ecologically sustainable proof-of-work model “recycled” from Bitcoin’s blockchain. On his mining involvement, Mayor Suarez wrote:

“This is a historic moment for our city to collaborate with an innovative project that creates resources for our city through innovation, not taxation.”

The wallet that sends the Miami transactions now has $16.6 million in crypto. There aren’t any reports yet on the intended use of the funds, but earlier statements indicated that they would split 30%-70% among Miami residents.

Flipsider:

• A senator from Arizona has presented a bill for consideration to the state Adoption by the legislatureBTC can be used as a method of payment.

What You Need to Care About

Mayor Suarez has demonstrated that digital assets could be used to benefit the government, rather than ban them.

Tezos and baby doge partner with top football clubs, Manchester United (and Hoffenheim).

According to reports, Manchester United and blockchain platform Tezos have teamed up with EPL giant Manchester United as cryptocurrencies continue spreading their wings in the sport industry. The Athletic claims that the two parties reached an agreement for $27M.

Tezos would sponsor Manchester United’s football kits for a multiyear period, although this has not been officially announced. Additionally, Tezos could be able to sponsor the Manchester United football team with its Metaverse and NFT projects.

Baby Doge will be traveling to Germany with its partner, TSG Hoffenheim, a top-flight soccer club. According to club statements, the partnership will concentrate on NFTs available for Hoffenheim fans.

Baby Doge will display promotional materials at Hoffenheim’s home venue with LED advertising on the pitch during all home games.

Flipsider:

• Binance launchedA campaign asking for investors to be cautious about celebrity endorsements of crypto during Super Bowl.

What You Need to Care About

Tezos’ and Baby Doge’s partnerships add to the wave of crypto projects using sports as a medium to reach a greater audience.

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