Dragonfly’s Rob Hadick says “there’s a lot of room” in crypto for more than one blockchain as networks race to win market share of tokenized assets. Solana and Ethereum will both thrive in the tokenization race and neither blockchain will push the other out of the space, says Dragonfly general partner Rob Hadick. “They are both Facebook,” Hadick told CNBC’s “Squawk Box” on Wednesday, when asked which blockchain will gain market dominance like social media platform Facebook or fall behind like the once-popular MySpace. Hadick said that with growing interest in tokenization and increasing economic activity onchain, there’s room for multiple blockchains to coexist. Read more
Some Polymarket users reported that their accounts had been breached and drained, which the prediction market blamed on a third-party provider. Prediction markets platform Polymarket has pinned a series of reported user account breaches on a third-party login tool. In a post to the company’s Discord on Tuesday, Polymarket said that it had flagged and resolved a security issue that impacted “a small number of users,” after some had reported suspicious activity on their accounts. “The issue was caused by a vulnerability introduced by a third-party authentication provider,” Polymarket said. “Polymarket takes security extremely seriously, and the issue has been remediated.” Read more
Blockchain tokenization is radically expanding the definition of money, enabling anyone to trade, save and spend in virtually any asset they like, says Kraken’s Mark Greenberg. Blockchain tokenization is transforming money beyond fiat currencies such as the US dollar by allowing users to save and instantly move virtually any asset across platforms, said a Kraken executive. “I think we’re past the point where money only means fiat or your local currency,” Kraken head of consumer Mark Greenberg told CNBC on Wednesday, adding that “anything can be money” with tokenization. Kraken’s xStocks is one of several tokenized stock offerings to hit the market this year as crypto exchanges look to expand beyond offering crypto trading. Coinbase and Gemini have also begun to offer tokenized stocks and have pushed betting via prediction markets as another offering to hook users. Read more