balaji

The decentralized social network Farcaster has changed ownership for the second time this year. Network School, led by Balaji Srinivasan, has acquired Farcaster from Neynar, with the transaction amount not disclosed. Neynar co-founder Rish stated on Thursday that after considering multiple acquisition offers, the company decided to transfer the "Farcaster application, protocol codebase, and related products" to Network School, citing that Farcaster needs a different operational model in the next phase. Rish and another co-founder, Manan, will leave, while the remaining Neynar employees will join Network School to continue developing Farcaster.Neynar acquired the platform from Farcaster's original developer, Merkle Manufactory, in January this year, and the deal also included the token issuance platform Clanker. Rish's announcement did not mention the fate of Clanker, but GM Farcaster host Adrienne and NourishProf mentioned during a live broadcast on Thursday that Rish is considering splitting Clanker and seeking other buyers for it. Meanwhile, an in-app announcement indicates that Farcaster will be renamed "Network Nation Protocol," aiming to build a network composed of a voluntarily joined digital society, ultimately landing in the physical world.Users must choose to accept or reject a "social smart contract," with acceptors receiving an on-chain access NFT as proof.

According to The Block, former Coinbase Chief Technology Officer and former general partner at a16z Balaji Srinivasan has relaunched Network School in Kazakhstan. Less than a month prior, the project was halted in Malaysia by local authorities.The new campus is established in collaboration with the Kazakhstan government. Network School, driven by Balaji, is positioned as an educational and community experimental project centered around the concept of network states, aimed at gathering entrepreneurs and tech talent for learning and collaboration.

ChianCatcher news, former Coinbase CTO Balaji Srinivasan stated during an interview on a blog program under Cypherpunk that cryptocurrency is not only a business matter but also an ideological one. The banking and political systems have failed and need to withdraw to self-sovereignty, and the missing part is privacy.He pointed out that the two major innovations of Bitcoin are programmability represented by Ethereum and privacy represented by Zcash. From 2009 to 2017, Bitcoin's viability was proven; from 2017 to 2025, programmability's viability will be proven; and now, from around 2025 to 2030, is the privacy phase. Privacy means using ZK encryption for everything, including ZKYC, ZK DEX, and ZK smart contracts, to achieve the minimum necessary information. This may require modifications to the base layer, new L1, or entirely new companies, and ZK can technically attract high-IQ talent like AI.

ChainCatcher news, according to market data, the market capitalization of the Base ecosystem Meme coin balajis briefly surpassed 20 million USD, and has now fallen back to 19.48 million USD, with a 24-hour increase of 112.6%, currently priced at 0.01982 USD.Earlier news, Coinbase CEO Brian Armstrong shared a picture on the X platform, showing that he bought 4,964,005 balajis, currently valued at about 99,000 USD. Brian Armstrong also retweeted a post from Base ecosystem leader Jesse Pollak, stating that users can now directly purchase any Zora creator tokens in the Coinbase app.balajis is a Meme concept coin created through the Zora platform, named after former Coinbase CTO and angel investor Balaji Srinivasan.

ChainCatcher news, according to market reports, Coinbase CEO Brian Armstrong posted a trading screenshot on the X platform, showing the purchase of 4,964,005.4 BALAJIS tokens.In addition, Brian Armstrong retweeted a post from Base ecosystem head Jesse Pollak, which stated that users can directly purchase any Zora creator tokens in the Coinbase app.

ChainCatcher news, former a16z partner and Coinbase CTO Balaji Srinivasan posted on the X platform that cryptocurrency represents international capitalism. Currently, both BTC and artificial intelligence have entered the vertical phase of the adoption curve. He shared performance result charts of OpenAI's large language model and the net asset management scale of the U.S. spot Bitcoin ETF, and pointed out that in terms of the trajectory of mass adoption, Bitcoin's growth rate may be faster than that of the internet.

ChainCatcher news, former Coinbase CTO Balaji Srinivasan tweeted that AI originates from academic research and large tech companies, thus having a higher reputation; whereas cryptocurrency technology originates from anonymous forums and internet communities, initially having a lower reputation.However, AI makes everything easy to forge, while cryptocurrency technology makes forgery difficult, and the reputations of the two may gradually converge. He believes that although AI is widely recognized as an important technology with civilizational significance, the value of cryptocurrency technology is underestimated, and in the future, the reputations of both will gradually approach each other.

ChainCatcher news, former Coinbase CTO Balaji Srinivasan posted on X that Bitcoin has become a global reserve asset, and anyone can buy or sell almost any amount of BTC at the current price through their own devices in any country/region at any time, without any third party. Nothing else can compare to it.

ChainCatcher news, Ethereum investor DCinvestor pointed out on social media that on-chain lending is the most revolutionary application of blockchain, comparable to the most important innovation in the financial sector since the establishment of the central banking system in the 17th-18th centuries. However, most people are still unaware of its significance.Former Coinbase CTO Balaji Srinivasan stated that on-chain lending will replace central banks with decentralized banking services, with interest rates determined by the market rather than fiat regulation. Although some P2P lending platforms still use centralized order books, decentralized P2P lending order books already exist, marking a shift in interest rate pricing models from central bank dominance to peer-to-peer market determination.Token Terminal data shows that the current outstanding loans in the on-chain lending market are approaching a historical high of nearly $20 billion.

ChainCatcher news, according to statistics and analysis from the crypto asset data platform RootData, from August 2023 to the present, market financing events have risen in tandem with secondary market trends, with financing rounds decreasing by 10% compared to the peak Bitcoin price in November 2021. During the same period, the monthly financing amount has consistently remained at the "pressure level" of $1 billion, a decline from the previous bull market peak financing amount of $6.12 billion to $1.01 billion, a decrease of approximately 83%. The data indicates that in this bull market cycle, project valuations have been corrected, while the demand for project financing has increased, but the difficulty of financing has also expanded. Additionally, the fundraising and exit pressures on institutional investors are continuously rising, so the participation of Web3 angel/individual investors will help support more early-stage Web3 entrepreneurs and project innovations.RootData has released a list of the top 50 Web3 angel investors over the past year (from August 1, 2023, to August 1, 2024) based on factors such as investment activity and influence. Among them, the top 10 angel investors with the most investments in the past year have collectively participated in investments totaling $1.88 billion (this data is based on total project financing amounts), participating in a total of 234 financing events. These investments are mainly distributed across infrastructure (15.9%), DeFi (9.2%), and GamFi (8.3%). The new track AI accounts for 4.7%, higher than the modular (2.6%), LSD (2.1%), DePIN (1.13%), and RWA (0.75%) tracks that institutional investors are more focused on.In the past year, Polygon co-founder [Sandeep Nailwal](https://www.rootdata.com/zh/member/detail/Sandeep Nailwal?k=MTI5MjU=) has been the most active with 39 investments, participating in Berachain's $100 million Series B financing, as well as financing for well-known projects like Ether.Fi, Succinct, and Movement. Solana co-founder and CEO [Anatoly Yakovenko](https://www.rootdata.com/zh/member/detail/Anatoly Yakovenko?k=OTAyMw==) has invested in 12 infrastructure track projects in the past year, accounting for 26% of his total investment count. Notable angel investor [Balaji Srinivasan](https://www.rootdata.com/zh/member/detail/Balaji Srinivasan?k=MTI5MjI=) has made 24 investments in the past year, with a total investment amount of $230 million (this data is based on total project financing amounts), showing significant interest in AI and tool-related projects. Renowned NFT collector dingaling has participated in financing events for over 30 different segmented track projects in the past year, with the GamFi track accounting for 48% of his total participation financing amount (this data is based on total project financing amounts).

ChainCatcher news, former Coinbase CTO Balaji Srinivasan posted on the X platform that he has established a new fund, Balaji Fund, supported by investors including Coinbase founder Brian Armstrong, AngelList co-founder Naval Ravikant, and USV co-founder Fred Wilson.The Balaji Fund will make seed investments in multiple areas, including but not limited to cryptocurrency/Web3, deep learning, AR/VR, genomics, quantified self, autonomous robotics, network state, and broader frontier technologies.

ChainCatcher news, the parent company of the citizen community platform Baseflow, The Network State Company, announced the completion of a $2.5 million financing round, with investors including Balaji Srinivasan (former CTO of Coinbase), Tim Draper, Aragon DAO, Sandeep Nailwal (co-founder of Polygon Labs), Roneil Rumburg (co-founder of Audius), Andrea Dusi, Max Merenti, and Enzo Coglitore (product manager and partner at Alchemy Ventures).It is reported that Baseflow is headquartered in Switzerland and aims to help individuals become sovereign persons, pursuing sovereignty, governance, and the maximization of personal freedom.

ChainCatcher news, DAO registration service provider MIDAO has completed a $1 million financing round, with participation from The LegalTech Fund, FJ Labs, and angel investor Balaji Srinivasan, former CTO of Coinbase. This funding round will enhance MIDAO's core products, provide legal recognition for Web3 projects and DAOs, help ensure contributor liability protection, expand its global partner network composed of Web3 lawyers and professional service providers, and broaden MIDAO's service reach worldwide.It is reported that MIDAO is a partner network consisting of over 300 vetted Web3 lawyers, with a mission to enable Web3 organizations across various industries to access legal and regulatory frameworks, providing services to existing DAOs seeking legal recognition. (Source link)

ChainCatcher news, former Coinbase CTO Balaji Srinivasan posted a video on social media stating that the "Bitcoin will reach $1 million" bet he initiated has actually been settled in advance. He has personally donated a total of $1.5 million to three entities (which is $500,000 more than the bet conditions): one donation is for funding Bitcoin core development at Chaincode Labs, another is directly given to the charity organization Givedirectly, and the third donation is to anonymous Twitter user James Medlock (another participant in the bet). All three transfers have on-chain data as evidence.In this video, Balaji again referenced the Federal Reserve's targeted balance sheet expansion in response to bank collapses, as well as the balance sheet expansion actions taken after the onset of the pandemic, further explaining the reasons behind his "Bitcoin will reach $1 million" bet.Former Coinbase CTO Balaji Srinivasan made a million-dollar bet on Bitcoin's price with Twitter user James Medlock on March 19. According to the proposed terms, Medlock buys one Bitcoin, and if the Bitcoin price does not reach $1 million within 90 days (by June 17), he will win $1 million from Balaji; otherwise, he will lose one Bitcoin. (source link)