Avichal Garg

Avichal Garg

Avichal Garg is the founder of Electric Capital and a serial entrepreneur. Previously, he was Director of Product Management at Facebook and also worked at Google Search and Ads. He has founded and sold several companies, and has invested in startups including Optimizely, Boom, Color, Cruise, Instawork, CaseText, and more.

Bloomberg: Sky Mavis CEO Moved Funds Ahead of Disclosure of $540 Million Hack: Golden Finance reports that Trung Nguyen, co-founder and CEO of Sky Mavis, developer of blockchain game Axie Infinity, disclosed in the company About $3 million in crypto tokens were transferred before details of the $540 million. Nguyen moved the funds as part of an effort to salvage the company's funds after the attack, and the transfers took place before Axie made public the information about the hack.

Sky Mavis spokeswoman Kalie Moore said this was necessary to prevent short sellers from front-running token sales once the hack became known to the public.

The movement of Nguyen’s funds was part of a large number of encrypted transfers to an Axie-related wallet tracked by a pseudonymous Axie user named Asobs. These wallets all moved funds from the Ronin sidechain to centralized exchanges like Binance following the hack. However, according to Bloomberg, only the man identified by the Sky Mavis CEO has been confirmed by the company. [2022/7/29 2:44:45]

Gavin Wood: One of the biggest goals of Polkadot in the future is to establish chain bridges with other blockchains: On January 4, Polkadot’s official community PolkaBase published an article by Gavin Wood. Gavin Wood said that the development of Polkadot has significantly accelerated this year. However, the Polkadot ecology still has the potential to explode. In the next few months or even years, one of Polkadot's biggest goals is to establish a chain bridge with other blockchain projects. "Although Polkadot is first and foremost compatible with heterogeneous fragmented multi-chain structures, one of Polkadot's main goals Still promoting interoperability." At the same time, an Ethereum-Substrate compatible project called Frontier, which Parity is developing, is now basically complete. This program will allow any chain built on Substrate to appear on Ethereum like other mainstream chains, And host any tool that utilizes Web3 RPC, such as MetaMask and Truffle. In addition, Gavin Wood also stated that all core technologies launched in 2020 will be integrated into the Polkadot mainnet in 2021. [2021/1/4 16:25:30]

Former NBA commissioner David Stern supports blockchain startups: Former NBA commissioner David Stern has recently invested in blockchain startups. He believes that blockchain technology can provide support in many industries such as the sports sector. [2018/6/6]

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