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Our weekly updates are put together by folks deep in the crypto scene, giving you a clear picture of what's happening without overwhelming you.
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To Watch This Week
AIRDROPS + ALPHAOct 27, 2023
![Crypto bridges are key infrastructure for moving tokens. Image: Shutterstock.](https://img.decrypt.co/insecure/rs:fit:3840:0:0:0/plain/https://cdn.decrypt.co/wp-content/uploads/2023/10/crypto-bridge-gID_7.jpg@webp)
DeFi
LayerZero Hit With Hefty Backlash After ‘Frontrunning’ Lido Governance
A bridge too far it seems for LayerZero. After announcing it would integrate a wrapped version of Lido’s ever-popular staked Ethereum token, the team behind the cross-chain protocol was hit with hefty backlash from the Lido community. The wrapped version of stETH is an ERC-20 version of the original blend stETH, making it easier to be reused in other applications. Lido Finance is a popular staking protocol. This is what LayerZero had integrated on Wednesday across BNB Chain, the buzzy layer-2 ne...
Apr 4, 2023
![From left to right: Ryan Zarick (Co-Founder & CTO), Bryan Pellegrino (Co-Founder & CEO). Image: Chung Chow/BIV](https://img.decrypt.co/insecure/rs:fit:3840:0:0:0/plain/https://cdn.decrypt.co/wp-content/uploads/2023/04/LayerZeroLabs-co-founders-1-gID_7.jpg@webp)
Technology
LayerZero Funding Round Hits $3 Billion Valuation With Backing from Christie’s, Samsung
LayerZero Labs has just concluded its Series B funding, raking in $120 million from a host of notable investors. This gives the interoperability protocol a whopping $3 billion valuation. Auction house Christie’s, Samsung’s next-gen investment arm, NFT platform OpenSea, Circle Ventures, and a16z’s crypto branch were just a few of the 33 different groups that participated in the latest round. LayerZero Raises $135M From Andreessen, FTX, Sequoia to Build Out 'Omnichain' Protocol It may look like a...