KYC means "know your customer." It refers to a financial institution’s obligation to carry out certain identity and background checks on its clients before allowing them to use its product or platform. It is part of a broader set of measures that regulators around the world use to fight money laundering.In other words, it stops bad actors from hiding the illicit source of their … [Read more...] about What Is KYC and Why Does It Matter for Crypto?
Gas fees make cross-chain transactions very expensive, hindering the free flow of crypto assets. So it’s not surprising that cross-chain bridges have grown at an unprecedented rate—a TVL increase of 89% MoM in October—as DeFi transaction volume booms in the bull market. However, did you know that cross-chain bridges solve other problems besides (what are essential) crypto … [Read more...] about What are cross-chain bridges and why do they matter?
Matter Labs has announced a major new funding round to further develop the second version of its Ethereum-based rollups, zkSync.On Nov. 9, Matter Labs announced it had secured $50 million in a Series B round led by Andreessen Horowitz and included participation from existing investors Placeholder and Dragonfly Capital. The new round follows Matter Labs’ $6 million Series A in … [Read more...] about Matter Labs raises $50M to build EVM-compatible zk-rollups
Matter Labs, the firm behind Ethereum Layer 2 scaling protocol zkSync has raised $50 million in a Series B funding round led by Andreessen Horowitz (a16z), the company said Monday.The funding will be used to finance Matter Labs’ business growth, including expanding scientific and engineering teams.Other investors in the round included Placeholder, Dragonfly and 1kx, who also … [Read more...] about Andreessen Horowitz Leads $50M Funding Round for Matter Labs
For instance, Martin Erhold, regulatory specialist at Bitpanda, said that even though legal certainty will likely attract institutional investment, overregulation could crowd out innovation and entrepreneurs. In addition to strict rules for crypto issuers, under MiCA, firms will have to register in the EU and bear the compliance costs or be banned, he said. Source link … [Read more...] about Europe’s MiCA Crypto Rules Are Coming Soon. Here’s Why They Matter