May 15, 2025

a16z Crypto Leads $7M Round in KYD Labs That Aims to Transform Ticketing Industry-credit coindesk

Venture capital firm a16z Crypto recently led a $7 million seed round for KYD Labs, a blockchain-based ticketing platform focused on empowering artists and venues with control over ticket sales, fan...

Venture capital firm a16z Crypto recently led a $7 million seed round for KYD Labs, a blockchain-based ticketing platform focused on empowering artists and venues with control over ticket sales, fan data, and revenue. This strategic investment comes as KYD Labs aims to expand its presence in the live event space, showcasing success at renowned venues like New York’s Le Poisson Rouge (LPR).

KYD Labs, founded by Ahmed Nimale, a former product manager at Ticketmaster, and David Barrick, creator of the ad-tech platform Flipmass, is dedicated to resolving longstanding issues in the ticketing industry, particularly the loss of revenue experienced by artists and venues. Traditionally, artists and venues miss out on revenue due to secondary sales and ticket platforms retaining customer data. KYD Labs seeks to rectify this by providing venues direct access to fan insights and revenue channels.

By utilizing blockchain technology, KYD’s platform on Solana offers a seamless ticket-buying experience that allows fans to purchase tickets in under 30 seconds with just a phone number, eliminating the complexities of crypto wallets. This streamlined approach has resulted in increased engagement and revenue for venues like LPR, which reported a 30% growth in ticket sales and millions in additional income since implementing KYD’s system.

KYD Labs is also set to introduce two new protocol layers: the $KYD token to support venues and tours financially, and the $TIX reward token to incentivize fan loyalty akin to airline miles. These innovative features aim to bolster financial stability for artists and venues while enhancing community engagement.

Having processed $4 million in ticket sales and generating over $1 million in revenue over the past year, KYD Labs plans to expand to more than 100 U.S. venues by 2026 with aspirations to become the primary provider of live event commerce at major arenas worldwide. By leveraging blockchain technology, KYD Labs is revolutionizing ticketing by offering creators greater autonomy and fans a smoother experience at events.

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May 15, 2025

Crypto

ARK Invest Bought $9.4M Worth of eToro Shares on Trading Platform’s Debut

Tags:AI Coinbase Crypto Internet Robinhood solana Trading US

ARK Invest wasted no time in adding eToro (ETOR) to its portfolio. Cathie Wood’s St Petersburg, California-based investment management company purchased 140,000 shares in eToro during the stock-and-crypto trading platform’s debut...

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May 13, 2025

Blockchain / Crypto / Cryptocurrency

Cardano to Directly Feature Blockchain and Assets on Brave Browser

Tags:ADA AI CEO Crypto ETH EU solana US

Brave Wallet, the cryptocurrency wallet integrated into the privacy-centric Brave web browser, is set to add support for the Cardano blockchain. This will enable users to easily send, receive, and swap...

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May 13, 2025

Crypto

Pump.fun Launches Revenue Sharing for Coin Creators in Push to Incentivize Long-Term Activity

Tags:AI Crypto Health Income memecoin solana Trading US

Pump.fun, a platform for issuing Solana tokens, has introduced a new revenue-sharing model to incentivize coin creators and promote community growth. Moving forward, 50% of PumpSwap revenue will be shared directly...

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May 9, 2025

Crypto / Exchange

Explosive ETH, ADA, DOGE Moves Spur $800M in Short Liquidations, Highest Since 2023

Tags:ADA AI Binance bitcoin Crypto DOGE ETH solana Trading XRP

A recent surge in the crypto market, led by a 20% increase in ether (ETH), resulted in over $750 million in short liquidations within the past day. This marks the highest...

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May 8, 2025

Crypto

Dogecoin, Cardano’s ADA Lead Market Gains as Bitcoin Traders Eye Next Fed Meeting

Tags:ADA AI bitcoin btc Crypto DOGE Donald Trump ETH solana Tariffs Trump XRP

Bitcoin (BTC) approached $100,000 on Thursday, as major cryptocurrencies like dogecoin (DOGE) and Cardano’s ADA led gains in the crypto market. This surge was supported by dovish signals from the Federal...

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May 5, 2025

Crypto / Cryptocurrency / Review

Solana Quietly Fixes Bug That Could Have Let Attackers Mint and Steal Certain Tokens

Tags:AI Crypto ETH solana US

The Solana Foundation has revealed a security vulnerability in its privacy-focused token system that could have allowed attackers to create fraudulent zero-knowledge proofs, enabling unauthorized minting or withdrawals of tokens. The...

The Solana Foundation has revealed a security vulnerability in its privacy-focused token system that could have allowed attackers to create fraudulent zero-knowledge proofs, enabling unauthorized minting or withdrawals of tokens.

The vulnerability was reported on April 16 through Anza’s GitHub security advisory, along with a proof-of-concept. Engineers from Solana development teams Anza, Firedancer, and Jito confirmed the bug and immediately started working on a solution, as detailed in a post-mortem published on Saturday.

The issue originated from the ZK ElGamal Proof program, which validates zero-knowledge proofs (ZKPs) used in Solana’s Token-22 confidential transfers. These extension tokens secure private balances and transfers by encrypting amounts and using cryptographic proofs for validation.

ZKPs are a cryptographic technique that allows someone to prove knowledge or access to something, like a password or age, without disclosing the information itself. In cryptocurrency applications, they can demonstrate a transaction’s validity without revealing specific amounts or addresses, which can be exploited by malicious actors.

The bug occurred due to missing algebraic components in the hashing process during the Fiat-Shamir transformation, a method to make zero-knowledge proofs non-interactive. A sophisticated attacker could create invalid proofs that the on-chain verifier would accept.

This vulnerability could have enabled unauthorized actions such as unlimited token minting or withdrawals from other accounts. However, standard SPL tokens or the main Token-2022 program logic were unaffected.

Patches were privately distributed to validator operators starting on April 17, with a second patch released later that day to address another related issue in the code. Third-party security firms, including Asymmetric Research, Neodyme, and OtterSec, reviewed both patches. By April 18, a supermajority of validators had implemented the fix.

There is no evidence that the bug was exploited, and all funds remain secure, according to the post-mortem.

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May 2, 2025

Crypto / Exchange

Dogecoin, XRP ETF Hopes Are Fuelling Bullish Sentiment, Social Data Shows

Tags:AI bitcoin Crypto DOGE ETH memecoin solana US XRP

The excitement surrounding dogecoin (DOGE) and XRP-based exchange-traded funds (ETFs) is on the rise, as social data from Santiment indicates a shift in crowd sentiment in favor of both tokens. This...

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May 1, 2025

Crypto / Cryptocurrency / Review

Solana Surges 8% Despite Global Macro Tensions. Can It Hit $155 in Short-Term?

Tags:AI btc China Crypto solana Trading US

Geopolitical tensions and evolving trade policies are continuing to influence the cryptocurrency markets, with Solana standing out amidst global economic uncertainty. SOL has demonstrated remarkable recovery strength, rising 8% from its...

Geopolitical tensions and evolving trade policies are continuing to influence the cryptocurrency markets, with Solana standing out amidst global economic uncertainty. SOL has demonstrated remarkable recovery strength, rising 8% from its low of $140 on April 30 to around $152, alongside a 35% increase in daily trading volume. This resilience comes at a time when US-China trade relations are deteriorating, impacting both traditional and digital asset markets.

In the broader context, the CoinDesk 20 Index also saw a 4% increase on Thursday.

Key highlights from the technical analysis of SOL include a recovery from a 7.4% correction on April 30, establishing strong support at 140.65 and reaching new period highs at 152.69. The trading range of 12.04 points reflects volatility, with volume analysis showing increased trading during the correction followed by sustained buying interest during the recovery.

Recent price action suggests an ascending channel with resistance at 152.50 and key support at the 148.50-149.50 zone. Bullish momentum seems sustainable with higher lows indicating potential movement towards the 155.00 psychological level. Notably, SOL experienced significant volatility within a short timeframe, but key support was established at 151.10 with strong institutional interest observed during mid-session rally.

Please note that this article was written with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For further details, refer to CoinDesk’s full AI Policy. We have also included information from external sources for reference:

– NewsBTC, Solana Monthly Candle Reclaims Key Levels – Is $240 The Next Target?, published on April 30, 2025.
– NewsBTC, Solana: Analysts Forecast Q3 ATH Rally As SOL Retests Make Or Break Level, published on April 29, 2025.
– Cointelegraph, Why is Solana (SOL) price up today?, published on April 17, 2025.
– CryptoPotato, Tension Builds: Solana (SOL) on the Verge of a Huge Move?, published on April 30, 2025.

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April 23, 2025

Blockchain / Crypto / Cryptocurrency / Economics

PayPal to Pay 3.7% Annual Yield on Stablecoin PYUSD to Encourage Broader Use

Tags:AI CEO Chainlink Crypto ETH solana US

PayPal is stepping up its game in the stablecoin competition by offering U.S. users 3.7% annual returns on balances of its PayPal USD stablecoin. The yield, which is accrued daily and...

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