DeFI News by Thebittimes.Com

Sonic Labs, a layer-2 blockchain project that is a split off of the Fantom network, announced that its new blockchain will go live “soon” after it recently produced its first block of transactions. “Genesis achieved. Block zero. Infrastructure deploying. Public soon,” the project said in a Dec. 2 X post. Sonic Mainnet Follows “Incredible Performance Enhancements” Achieved Through Testnet 2.0 Launch The new Sonic mainnet is a successor to the Fantom Opera network. This rebranding to Sonic will include enhanced network performance, reduced latency and much lower transaction fees. Genesis achieved. Block zero. Infrastructure deploying. Public soon. — Sonic Labs (prev. Fantom) 💥 (@0xSonicLabs) December 2, 2024 The move toward the public mainnet launch follows shortly after Sonic Labs unveiled its “testnet 2.0” called Blaze on Dec. 1. Blaze comes with compatibility for the Ethereum Virtual Machine (EVM), and saw ...

Genesis Block was an over-the-counter (OTC) trading desk in Hong Kong that was deeply integrated with Alameda Research and FTX, serving as a way for people to convert bags full of fiat to cryptocurrency and vice versa. The firm has a Cayman Islands-based related entity, Genesis Block Ventures, sometimes called GBV Capital, which is also deeply connected to FTX and Alameda Research. Crypto researcher Dirty Bubble Media has previously highlighted how wallets associated with Genesis Block’s trading activities were often funded by, and deeply interconnected with, Alameda Research wallets. At some level, this was acknowledged by Genesis Block when it detailed how “Alameda Research will also provide the technology that acts as the backbone for Genesis Block’s new OTC portal.”  Analysis by Protos now confirms wallets associated with Genesis Block Ventures are deeply connected to FTX and Alameda Research. Genesis Block Ventures on the blockchain Genesis Block Ventu...