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block

Block, Inc. (NASDAQ: SQ) is a technology company focused on financial services and digital payments. The company was founded in 2009, originally named Square, Inc., and was renamed Block in 2021 to reflect its expanding product portfolio. The company operates Square merchant payment solutions, Cash App (which offers peer-to-peer payments and Bitcoin transactions), Afterpay (which provides buy now, pay later services), TIDAL (which offers music streaming services), Bitkey (which provides self-custody Bitcoin wallets), and Proto (which offers Bitcoin mining services).
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Flash

Layer 1 blockchain Alta completed a $47.5 million Series A financing, led by Index Ventures

According to Fortune magazine, Layer 1 blockchain development company Alta, aimed at banks and large financial institutions, announced on Tuesday the completion of a $47.5 million Series A funding round, but did not disclose the company's valuation. This round was led by Index Ventures, with participation from GV (Google Ventures), Blackbird Ventures, Square Peg, and Capital49.Previously, the company had completed a $32.5 million seed funding round, primarily supported by Australian fintech giant Airwallex. Airwallex is currently competing in the global payments market with companies like Stripe.Alta's CEO Loong Wang previously founded a cryptocurrency startup, which he sold in 2021, and then turned to a second startup that uses quantum computing technology to assist in drug development. After that, Wang returned to the cryptocurrency field and co-founded Alta with former Meta executive Catherine Porter. The company was recently renamed from its original name Metal. Porter was involved in Meta's later abandoned cryptocurrency business.In an interview, Wang stated that despite the presence of many so-called Layer 1 blockchains in the market, he still decided to develop a new blockchain because he believes it is the best technology for transferring funds. He also pointed out that existing blockchains do not provide a complete set of privacy protection and compliance tools specifically designed for banks and other large financial institutions.

first_img Ark Invest reduced its holdings in Block, Bullish, and ARKB, and bought Nvidia and SoFi

Cathie Wood's investment firm Ark Invest reduced its holdings in Block, Bullish, and its own Bitcoin ETF on Monday, while increasing its positions in SoFi Technologies and Nvidia stocks. According to Ark's latest trading disclosure, it sold 68,997 shares of Block, founded by Jack Dorsey, worth $6.1 million; and sold 49,767 shares of Bullish, worth $1.1 million. On the same day, Block's stock price rose 3.6%, closing at $88.56; Bullish increased by 7%, closing at $22.8.Ark also reduced its holdings in its own Ark 21Shares Bitcoin ETF (ARKB) by $1.6 million. The fund has a net asset size of $2.15 billion and recorded a net outflow of $9.9 million on Monday, which is part of the total net outflow of $201.1 million for U.S. spot Bitcoin ETFs on that day. Meanwhile, Ark purchased $6.8 million worth of SoFi Technologies stock and $16.2 million worth of Nvidia stock.SoFi's stock price rose 3.33% to $16.75 on Monday. The company's latest financial report showed that as of the end of September, it had 503,000 crypto products, with gross revenue from crypto trading increasing by 20% quarter-over-quarter to $161.6 million; last month, SoFi also launched an interest-bearing tokenized deposit product called SoFi Earn. Nvidia's stock fell 4.27% to $178.67 on Monday, after the company stated that its board is investigating the relationship between CEO Jensen Huang and a woman identified by intelligence officials as a Chinese spy. Ark regularly adjusts ETF weights to keep individual stock holdings within 10% of the fund's portfolio.

The Zcash community proposed the NU8 upgrade plan: it plans to introduce the Tachyon privacy pool by the end of January next year and increase the block size limit to 8MB

Zcash community member ValarDragon posted on the official community forum, proposing a series of plans to be included in the NU8 network upgrade, and suggested setting the upgrade target for the end of January 2027. The main content includes the launch of the Tachyon shielded pool, expanding transaction formats, increasing the maximum block size from 2MB to 8MB, and adding support for post-quantum cryptography transparent transaction opcodes.Other proposals also include: adjusting the NSM redistribution date to be closer to the time of Zcash's seventh halving; determining a date at the protocol level for Sapling to stop accepting new deposits while continuing to support transactions and withdrawals; and eliminating the need to update the Consensus Branch ID with each network upgrade to reduce wallet compatibility issues. ValarDragon stated that with the combination of Tachyon and larger block capacity, a shielded transaction processing capability of approximately 200 TPS is expected. In addition, the post-quantum transparent transaction feature will introduce schemes based on SPHINCS with 128-bit and 192-bit security levels. The above content currently belongs to the upgrade ideas proposed by community members, and specific implementation still depends on development progress and subsequent NU8 discussions and voting.

first_img Acala and Karura plan to stop block production on February 10, 2027

Polkadot ecosystem DeFi network Acala stated that after seven years of development, Acala and its sister network Karura located in Kusama are entering the final phase. Under the premise that Acala's referendum No. 195 and Karura's referendum No. 137 are passed, both networks will cease operations on February 10, 2027. After this date, Acala and Karura will no longer produce new blocks.Users need to withdraw DOT, KSM, and assets bridged from other chains, such as USDT and USDC, from Acala and Karura before February 10, 2027. LDOT unbonding requires 28 days and must be initiated before January 12, 2027; if LDOT is locked with a validator, an additional 28 days is needed for unlocking, which must be completed before December 16, 2026. LKSM unbonding requires 7 days and must be initiated before February 2, 2027.ACA and KAR are the native tokens of the two networks and cannot be withdrawn; they will remain on their respective chains. For external assets that have not been withdrawn before the deadline, the team will return them as much as possible; as a last resort, recoverable assets can be returned to the same account's address on the Polkadot or Kusama Asset Hub, but not all assets can be returned in this way. Acala was founded by Bryan, Ruitao, and Bette, who initially developed the synthetic assets and margin trading project Laminar, and later, at the invitation of the Web3 Foundation, built the Polkadot ecosystem stablecoin, evolving into Acala.
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