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UK-based Pimlico has raised $4.2 million in a seed funding round led by a16z crypto , aiming to improve the Ethereum network by introducing versatile smart accounts through ERC-4337. Pimlico, a UK-based web3 infrastructure firm, has successfully secured $4.2 million in seed funding , a substantial boost spearheaded by a16z crypto . The company has its sights set on leveraging this investment to scale its operations. We're excited to announce that Pimlico has raised a $4.2 million seed round led by @a16z crypto to power Ethereum's transition to smart accounts. Read more in our announcement below:https://t.co/XtCcvJYisI pic.twitter.com/13xWDvs59C — pimlico.eth (@pimlicoHQ) November 7, 2023 Pimlico’s core mission is to enhance the Ethereum network’s user-friendliness and functionality by implementing smart accounts through ERC-4337—a protocol for account abstraction. The introduction of smart accounts is Pimlico’s response to the limitations of Eth...

Yuga Labs, creator of the popular non-fungible token (NFT) collection Bored Ape Yacht Club (BAYC), has carried out some company restructuring that will see the laying off of some team members. Yuga Labs CEO Daniel Alegre announced the news in an email sent to the staff which was published on the firm’s website on Friday, Oct. 6, 2023. While the CEO did not state the exact number of affected employees, the restructuring efforts impacted team members in the United States. Meanwhile, co-founder of Yuga Labs Greg Solano, who also mentioned the job cuts on X, said that there were still 120 employees at the company while stating that the changes were necessary to ensure that Yuga Labs is “set up for long-term success.” I’m sure many of you have seen the news that Yuga is undergoing a restructure today. Shit day obviously. Hurts to part ways with team members who have been in the trenches with us. But we needed to make some changes to the company in order to make sur...

Join Our Telegram channel to stay up to date on breaking news coverage The cryptocurrency market is trading in the green today. However, the biggest gainer in the last 24 hours is LBRY Credits (LBC), which has pumped by 72% in the last 24 hours. The token is rallying as the company records a major win a gains t the US Securities and exchange commission. LBRY records a major win against the SEC The SEC has been under criticism for regulating the cryptocurrency industry through enforcement. Therefore, the win for LBRY in its SEC case has been seen as a win for the entire sector. On November 7, 2022, the SEC obtained a summary judgment in its favor as the sale of LBC tokens was deemed an investment contract within the six years that the token was in existence. The regulatory body hoped to use the judgment to get regulatory authority over the secondary crypto market. LBRY Credits filed an appeal on this judgment, and Attorney John Deaton has helped the company secure a major...