Altcoin News Official Today TheBitTimes.com

a16z has invested $100 million in Ethereum restaking protocol EigenLayer. The startup founded by former University of Washington associate professor Sreeram Kannan raised $50 million in March. EigenLayer has a TVL of $7.84 billion, up from $2.15 billion on February 5, 2024. Venture firm Andreessen Horowitz (a16z) has invested $100 million in EigenLayer, a startup founded by former University of Washington associate professor Sreeram Kannan. According to a Bloomberg report on Thursday, a16z was the only investor in the funding round. a16z backs EigenLayer with $100 million EigenLayer is the largest restaking protocol on Ethereum. It allows validators and stakers to earn by restaking liquid staking derivatives such as the Lido staked Ether (stETH) and RocketPool staked ETH (rETH).  The $100 million investment adds to the $50 million that the EigenLayer team raised in March last year.  Accelerating Ethereum Tog ETH er: @eigenlayer ♾ @a16...

Some DAO members joked about the situation while others believed there may be an ulterior motive at play. BarnBridge DAO members have been told to pause “all work” related to the project after a reported probe by the United States Securities and Exchange Commission (SEC). In a July 6 post to the platform’s Discord channel, Douglas Park, a lawyer for the decentralized autonomous organization revealed the news to members. “I am letting you know that the Securities and Exchange Commission is investigating BarnBridge DAO and individuals associated with the DAO,” Park said. pic.twitter.com/ChsjBuGEzM — BarnBridge (@Barn_Bridge) July 7, 2023 In order to “reduce potential further legal liability,” Park suggested “all work” on BarnBridge-related products should stop — including the closure of liquidity pools — and that individuals should not receive compensation for work flowing from the investment efforts of the DAO. Co-founder Tyler Ward, presumably dubbed “Lord Tyler” on Discord, c...