Tempo is a new Ethereum Virtual Machine-compatible layer-1 blockchain specifically designed for stablecoin payments and global transactions. Developed through a collaboration between Stripe and Paradigm, the network promises high throughput (100,000+ TPS), low fees, and privacy features that allow users to conceal certain transaction details. Key innovations include the ability to pay transaction fees in any stablecoin via an automated market maker and a focus on real-world use cases like payroll, remittances, and e-commerce. The network is currently in private testnet with design partners also serving as validators, though it plans to transition to a permissionless model. This announcement positions Tempo as a competitor to similar initiatives from Google and Circle, reflecting the growing convergence of crypto and traditional finance.
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Biotech Firm Merges with Crypto Investors to Form $888M Hyperliquid
Sonnet BioTherapeutics has announced a merger with Rorschach I LLC, backed by crypto investors including Atlas Merchant Capital and Paradigm Ventures, to form Hyperliquid Strategies, Inc. (HSI). The merged company will focus on building a crypto treasury anchored by the HYPE token, holding approximately 12.6 million HYPE tokens ($583M) and $305M in fresh capital, totaling nearly $888M. Major crypto investors like Paradigm, Galaxy Digital, and Pantera Capital are participating. HSI will continue trading on Nasdaq under a new ticker, with leadership changes including Bob Diamond as Chairman and David Schamis as CEO. The merger highlights growing institutional interest in Hyperliquid, a decentralized exchange dominating 80% of the on-chain perpetual futures market.
read moreTornado Cash Co-Founder May Delay Trial Over Witness Dispute
Roman Storm, co-founder of Tornado Cash, faces potential trial delays as his defense team contests the inclusion of testimony from an alleged hacker who used the Ethereum-based mixer. Prosecutors disclosed the witness after the deadline, prompting Storm’s lawyers to argue it could mislead jurors into associating him with the hack. The trial, set for July 14, charges Storm with money laundering and sanctions violations, with the crypto community rallying behind him. Another co-founder, Alexey Pertsev, was already sentenced in the Netherlands, while a third, Roman Semenov, remains at large. The case highlights the legal risks for DeFi developers and could influence future regulatory actions.
read moreKalshi Hits $2B Valuation with $185M Series C Funding
Kalshi, a regulated crypto prediction market platform, has raised $185 million in a Series C funding round led by Paradigm, achieving a $2 billion post-money valuation. The round saw participation from Sequoia, Multicoin, and Citadel Securities, among others. CEO Tarek Mansour emphasized the company’s ambition to build a dominant financial market, with funds earmarked for scaling its tech team and broker integrations, including partnerships with Robinhood and Webull. Kalshi’s legal compliance under CFTC regulation gives it an edge over rival Polymarket, which faces bans in multiple jurisdictions. However, state regulators in Nevada and New Jersey are challenging Kalshi’s sports betting operations. Meanwhile, prediction market volumes have declined post-election, pushing Kalshi to pivot toward sports betting, which now dominates its trading activity.
read moreDeFi Fund Urges White House to Drop Tornado Cash Charges
The DeFi Education Fund has petitioned the White House to drop charges against Tornado Cash co-founder Roman Storm, calling the DOJ’s prosecution ‘lawless’ and a threat to open-source development. The group argues that holding developers liable for how others use their code contradicts FinCEN’s guidance and stifles innovation. The letter, signed by industry leaders, warns that such legal actions could drive crypto development out of the U.S. and urges the administration to restore legal clarity. The case follows a Texas court ruling that the Treasury overstepped in sanctioning Tornado Cash, adding fuel to the debate over regulatory overreach in crypto.
read moreNous Research Raises $50M for Decentralized AI on Solana
Nous Research, a decentralized AI startup, has raised $50 million in a Series A funding round led by crypto venture giant Paradigm, valuing the company at $1 billion. The firm leverages Solana’s blockchain to coordinate global computing power for training open-source AI models, challenging centralized players like OpenAI. Founded in 2022, Nous Research aims to democratize AI development by incentivizing decentralized participation, with backing from investors like Distributed Global and Delphi Digital. Paradigm’s investment highlights growing interest in AI-blockchain convergence, as Nous prepares to scale its 15-billion-parameter LLM project transparently.
read moreCardano Founder Addresses Summit Absence Amid US Crypto Reserve Discussions
Charles Hoskinson, founder of Cardano, stated that his team did not receive an invitation to the upcoming White House Digital Assets Summit, despite circulating lists suggesting otherwise. He expressed skepticism about the summit’s potential for meaningful policy work.Meanwhile, Solana’s Anatoly Yakovenko raised concerns about the implications of a U.S. strategic crypto reserve on decentralization, as industry leaders prepare for discussions on regulatory changes in the digital currency ecosystem. The SEC has recently closed several lawsuits against major crypto firms, signaling a shift towards more favorable policies.
read moreEthereum’s Resurgence Amid White House Summit Excludes Vitalik Buterin
Ethereum has rebounded to $2K as the White House prepares for a crucial crypto summit on March 7, where key industry leaders will gather, notably without Ethereum co-founder Vitalik Buterin, raising concerns about regulatory representation. Traders are wary of a potential “fake out” amid a bullish divergence on the Relative Strength Index, suggesting a possible price reversal despite recent declines. Meanwhile, Ethereum’s Sepolia testnet has successfully upgraded to Pectra, with the mainnet upgrade slated for mid-March 2025.
read moreWhite House Crypto Summit to Address Regulation and Industry Challenges
The White House will host a crypto summit on March 7, led by David Sacks, focusing on digital asset regulation, stablecoin oversight, and crypto policies. Key industry leaders, including Michael Saylor and Brian Armstrong, will participate in discussions that could influence U.S. crypto regulations.Topics on the agenda include the U.S. Crypto Strategic Reserve, stablecoin regulations, tax incentives for crypto businesses, and the role of AI in fraud detection. The outcomes may significantly impact future crypto-related laws and market operations.
read moreWhite House Hosts First Crypto Summit with Industry Leaders and Experts
The White House is set to host its first crypto summit on March 7, inviting industry leaders to discuss regulatory clarity and foster domestic crypto growth. The roundtable will feature around 20-25 attendees, including notable figures like Michael Saylor and Brian Armstrong, while a larger reception will follow for others. Key topics include US crypto reserves, stablecoin oversight, and AI’s role in fraud detection.
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