Algorand CEO Steps Down
Steven Kokinos, the CEO of Algorand, announced that he is stepping down as CEO of the proof of stake blockchain. Kokinos is leaving the company to pursue other interests but will remain on its board of advisors until 2023. Algorand appointed W. Sean Ford, the current COO, as interim CEO to replace Koninos.
“We thank Steven for his time and dedication to Algorand. He has been instrumental to the initial success of our business, and we appreciate his commitment to a seamless transition. Sean is well positioned to partner with me to keep the company operations running and help us transition Algorand to the next phase,” said MIT Professor Silvio Micali, the founder of Algorand.
Earlier this year, Algorand partnered with FIFA for the 2022 World Cup in Qatar. They will assist them in developing their digital strategy and provide the official blockchain-supported wallet solution for the event. The partnership extends to the 2023 Women’s World Cup in Australia and Newzealand.
Harmony Proposes Minting More Tokens
Harmony, an open and fast blockchain, proposed minting more $ONE tokens to reimburse the affected wallets of the Horizon Bridge hack. Last month, a hacker stole $100 million by exploiting the Harmony Horizon Bridge, a crypto ramp that allows users to transfer crypto from one blockchain to another.
“The reimbursement proposal is posted and available for feedback. We encourage the #HarmonyONE community to read and engage with each other and the core team. Thank you for your patience as we work to move forward together as ONE,” announced Harmony on Twitter.
According to their reimbursement proposal, the hack affected approximately 65,000 wallets. To try and recover the funds, Harmony announced a $1 million bounty for the return of stolen Horizon Bridge funds. The Lazarus Group, a government-funded, North Korean cybercrime group, is allegedly behind the attack.
Unstoppable Domains Raises $65M
Unstoppable Domains, an NFT domain name provider, announced that it raised $65 million in a Series A funding round. The funding round was led by Pantera Capital, a cryptocurrency hedge fund, and put the company at a $1 billion valuation. Unstoppable Domains has over 2.5 million registered domains and will use the funds to drive more growth for the company.
“For too long, companies have controlled people’s digital identities, and Unstoppable Domains is putting that power back into the hands of people,” said Matthew Gould, CEO of Unstoppable Domains.