ZK coprocessor Brevis Network completes $7.5 million seed round of financing, led by Polychain Capital and Binance Labs
Odaily News ZK coprocessor Brevis Network has completed a $7.5 million seed round of financing, led by Polychain Capital and Binance Labs, with participation from IOSG Ventures, Nomad Capital, Bankless Ventures, Hashkey and several undisclosed angel investors. According to reports, Brevis Network is a startup that uses zero-knowledge (ZK) technology for off-chain computing. Co-founder Michael Dong told that Brevis began raising funds for the seed round in June and ended in September. Dong added that this round of financing was token financing, but declined to comment on the post-investment valuation. Brevis's ZK coprocessor is currently in the test mainnet stage, and partners such as Kwenta, JoJo Exchange and Trusta are already using it. Other DeFi protocols, including PancakeSwap, Frax, Gamma, Quickswap, Mask Network, 0G, Bedrock and Mellow Finance, are also building products and features driven by Brevis. Dong said: "We are now focused on launching a decentralized prover network, which will allow any prover to join and process the workload of applications built with Brevis." When asked whether Brevis will launch its token at that time, Dong said: "We don't have any details about the token yet." At the same time, Dong added that Brevis's "SpaZK verifiable AI" product is still under active development and will be released in the future. Brevis currently has 12 employees and is looking to hire senior marketing and R&D professionals. (The Block)
Odaily: U.S. President Trump stated that we will make a decision on Iran very soon, the Houthis' actions are very bad, and he has already spoken with the Saudi Crown Prince. (Jinshi)
Odaily News: CME Group CEO Terrence Duffy stated that the U.S. Commodity Futures Trading Commission's (CFTC) attempt to expand its regulatory authority over prediction markets is "a bit of a stretch," and that the related regulatory dispute could ultimately reach the U.S. Supreme Court.Speaking at the DC Fintech Week event on Tuesday, Duffy said the battle over prediction market regulation could evolve into a legal showdown among state governments, tribal governments, and the federal government. "This is going to the Supreme Court, and I think the states and the tribes will prevail," he said. (The Block)
Odaily reports: Trader Killa says that for Bitcoin (BTC) to replicate its 2023 price action, it needs to form a higher low (HL) above $75,500 and ideally hold the low near $80,000.After Bitcoin recently reclaimed its short-term structure around the $82,000 zone, it pulled back to test and broke through again, with short-term price action showing strong characteristics of "bull traps and bear traps." When BTC previously fell from $84,100 to $81,000, the structure appeared weak, but a large number of shorts entering at the lows fueled the subsequent rebound.Killa noted that during the drop from $84,100 to $81,000, long liquidations totaled approximately $300 million, while during the earlier decline from $86,800 to $80,600, long liquidations exceeded $2 billion, indicating that the market's leverage structure is improving and the proportion of longs has declined compared to before. The market now needs to form a higher low and initiate the next leg up; otherwise, this correction could break below $80,000.
Odaily reports that according to MSX.COM data, US mega-cap cloud providers including Microsoft and Google rallied collectively. Google-A shares rose 1.07% to $356.510 per share, with a total market capitalization of $4.36 trillion.Microsoft shares rose 1.6% to $549.795 per share, hitting another record high, with a total market capitalization of $4.08 trillion. Amazon shares rose 0.93% to $261.950 per share, with a total market capitalization of $2.83 trillion.
According to MSX.COM data, Apple's stock price rose 1.74% in early trading to $346.892 per share, with a total market cap of $5.06 trillion, setting a new all-time high.
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