Here are some of the major developments from the world of crypto over the past few days.
Elon Musk’s X-linked artificial intelligence modeller, xAI, has entered into an agreement for the private sale of $865.3 million in unregistered equity securities, according to a filing with the US Securities and Exchange Commission (SEC) made on December 5, 2023.
xAI filed SEC’s Form D to allow it to engage in the private sale of securities without registration. The form is used to comply with Regulation D of the Securities Act of 1933, which provides exemptions to the standard rules. On the form, Musk is listed as the executive officer and director of the business.
The xAI Form D further mentioned that the securities will be sold to accredited investors with restrictions on their resale under Rule 506(b). The form also indicated that $134.7 million in such securities have already been sold, with the first sale taking place on November 29, 2023. The company is seeking to raise $1 billion.
Consensys, the creator of the MetaMask wallet, has introduced its layer-2 ecosystem, Linea, to streamline the on-boarding of more users to Web 3.0. According to Consensys, Linea has been designed to address the scalability and cost issues in the Blockchain ecosystem and increase the practical use cases of the Blockchain infrastructure by lowering gas fees and increasing network bandwidth.
Linea takes computation and state off-chain to increase the throughput on the base layer.
To celebrate the growth of decentralised finance (DeFi), Linea is now holding a six-week gamification experience called the Linea DeFi Voyage, where users can participate in over 10 waves of quests and gain experience points dubbed XPs. Anyone can join the event, get first-hand experience with key platforms and protocols in the DeFi space, discover promising projects and earn XP tokens.
The gamified event also gives users tasks like “Swap ETH for USDC” or “Perform an OTC swap” and awards each task with XP tokens. The award tokens are expected to be exchangeable for Linea ecosystem’s native token in the future.
Animoca Brands co-founder Yat Siu has expressed confidence that a number of investments and partnerships could prove fruitful in 2024 as mainstream institutional interest in Bitcoin gathers steam.
He told Cointelegraph at the Next Block Expo event in Berlin that some 70 investments made in 2023 that are expected to deliver results next year. Chief among these are a high-profile partnership with The Open Network (TON) Blockchain, which was announced on November 28, 2023.
Siu confirmed that the investment involved the purchase of an undisclosed amount of Toncoin, which was then staked as part of the validator agreement. “We actually think that’s a tool for mass on-boarding with TON wallet. There are 800 million users on Telegram using TON. What’s not to be excited about?” Siu said