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ZK coprocessor Brevis Network completes $7.5 million seed round of financing, led by Polychain Capital and Binance Labs
11-12 00:06
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)
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2025-08-06 22:27:06
Fed's Daly: Labor market is slowing, tariffs will only have a short-term impact, and the Fed will cut interest rates soon
Odaily Planet Daily News: San Francisco Fed President Mary Daly said on Wednesday that given the slowdown in the labor market and her assessment that tariffs pose only a short-term threat to inflation, she believes the Fed will soon need to cut interest rates. "Inflation has been gradually declining in the absence of tariffs, and as the economy slows and monetary policy remains suppressive, inflation should continue to decline." She added that although tariffs will push up inflation in the short term, they are unlikely to have a lasting impact. At the same time, the labor market is already weak. "I think a further slowdown would be worrying, and once the labor market falters, it tends to decline quickly and severely. All of this means that we will most likely need to adjust policy in the coming months."
2025-08-06 22:25:27
Bakkt to Acquire 30% Stake in Japan's Marusho Hotta
According to Odaily Planet Daily, crypto infrastructure company Bakkt announced it will acquire approximately 30% of Japan's Marusho Hotta, becoming its largest shareholder. It plans to rename the company "Bitcoin JP," transforming it into a Bitcoin-centric digital asset treasury platform. Upon completion of the transaction, Bakkt International President Phillip Lord will become CEO of the new company. This move is part of Bakkt's strategy to promote a global Bitcoin treasury. In June of this year, Bakkt submitted a $1 billion fundraising plan and completed $75 million in July to purchase Bitcoin and other assets. The transaction and name change still require shareholder approval.
2025-08-06 20:38:52
US to impose additional 15% tariff on Japanese imports
Odaily Planet Daily reports that the United States will impose an additional 15% tariff on Japanese imports, regardless of the existing tariff rate. (Jinshi)
2025-08-06 20:35:13
Fed's Daly: The labor market is slowing, tariffs will only have a short-term impact, and the Fed will cut interest rates soon
Odaily Planet Daily News: San Francisco Fed President Mary Daly said on Wednesday that given the slowdown in the labor market and her assessment that tariffs pose only a short-term threat to inflation, she believes the Fed will soon need to cut interest rates. "Inflation has been gradually declining in the absence of tariffs, and as the economy slows and monetary policy remains suppressive, inflation should continue to decline." She added that although tariffs will push up inflation in the short term, they are unlikely to have a lasting impact. At the same time, the labor market is already weak. "I think a further slowdown would be worrying, and once the labor market falters, it tends to decline quickly and severely. All of this means that we will most likely need to adjust policy in the coming months." (Jinshi)
2025-08-06 16:57:53
Vitalik: Ethereum will eventually achieve almost real-time native asset transfers across L2 via L1
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2025-08-06 16:38:14
Market News: Partial ruling in Roman Storm case: guilty of operating an unlicensed remittance business
According to market news, a partial ruling was made in the Roman Storm case, with the charge of illegally operating an unlicensed remittance business found guilty, the charge of money laundering conspiracy pending, and no violation of sanctions regulations.
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Fed's Daly: Labor market is slowing, tariffs will only have a short-term impact, and the Fed will cut interest rates soon
Bakkt to Acquire 30% Stake in Japan's Marusho Hotta
US to impose additional 15% tariff on Japanese imports
Fed's Daly: The labor market is slowing, tariffs will only have a short-term impact, and the Fed will cut interest rates soon
Vitalik: Ethereum will eventually achieve almost real-time native asset transfers across L2 via L1
Market News: Partial ruling in Roman Storm case: guilty of operating an unlicensed remittance business