CoinChapter.com presents the top cryptocurrency news of the day, providing a curated selection of the most important updates. Here are today’s highlights:
1. TON Blockchain’s TVL Surpasses $300 Million:
The total value locked (TVL) of the TON blockchain has exceeded $300 million, marking a significant increase of over ten times since early March. This growth can be attributed to The Open League, an ongoing initiative that rewards users of TON’s decentralized applications. The TVL has surged from $23 million in March to $315 million.
2. Normie Memecoin Team Negotiates with Hacker, Token Plunges 99%:
The team behind the Base memecoin Normie (NORMIE) has confirmed negotiations with a hacker who exploited a vulnerability in the project’s smart contract. This resulted in a market cap drop of $41.7 million within three hours. The hacker has offered to return 90% of the stolen NORMIE tokens, with the condition that the stolen funds and $2.3 million from the development wallet are used to launch a new token to reimburse NORMIE holders.
3. Friend.tech Token Drops Over 20%:
The native token for the Web3 social network Friend.tech, FRIEND, has experienced a significant decline of over 20%. This decrease was triggered by one of the protocol’s co-founders expressing a desire to migrate the project off Base, the Ethereum Layer-2 network that hosts Friend.tech. The co-founder cited a strained relationship with the Base team and community.
4. Cristiano Ronaldo Launches 4th NFT Collection:
Football superstar Cristiano Ronaldo has announced the launch of his fourth non-fungible token (NFT) collection. Despite facing a $1 billion lawsuit over Binance ads, Ronaldo has partnered with Binance for this collection. The NFTs will celebrate Ronaldo’s successful career and feature highlights from his journey, with different pricing structures for each NFT.
5. Former CEO Pleads Guilty After Losing Kansas Bank’s $47M in Crypto Scheme:
Shan Hanes, the former CEO of Heartland Tri-State Bank in Elkhart, Kansas, has pleaded guilty to embezzling millions of dollars and causing the bank’s failure. Hanes admitted to sending 10 wire transfers totaling $47.1 million of the bank’s funds to an unidentified crypto wallet between May 2023 and July 2023. He has been sentenced to a maximum of 30 years in prison.
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