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Delphinus Lab is building a zero-knowledge proof rollup service aimed at powering Web3 application development. Zero-knowledge proof technology continues to garner interest and investment as Binance Labs becomes the latest firm to invest in ZK-proof powered infrastructure being developed by Delphinus Lab. Binance’s venture capital arm announced a strategic investment into Delphinus Lab’s zero-knowledge WebAssembly (zkWASM) virtual machine. The zkWASM is being labeled as the first known open-source virtual machine to support ZK computation and application software development kits. Cointelegraph can exclusively reveal that Binance Labs is investing $2.2 million into Delphinus Lab, with the funds set to facilitate the ongoing development of its application rollup platform zkWASM Hub, which will provide automated proving and batching services for Web3 applications. We're excited to announce we've invested in @DelphinusLab! Delphinus Lab is an infrastructure provider that has im...

Solana bucked the trend, with its $9.5 million in inflows taking the top spot over the past week. Weekly cryptocurrency asset flows for the week ending Aug. 4 reconciled at $107 million in outflows, continuing a three-week negative trend totaling $134.8 million. Once again, the lion’s share of movement was attributed to Bitcoin (BTC). With $111 million in outflows, Bitcoin funds negated the majority of inflows for the week. According to CoinShares’ Digital Asset Fund Flows weekly report, this indicates further “profit taking” on the heels of the previous cycle’s gains. For the month leading up to the recent spate of outflows , in flows of $742 million into crypto funds  were seen, with 99% of that coming from Bitcoin. Source: CoinShares Weekly trading volumes in investment products saw a dip below the year-to-date average, according to the report, with broader on-exchange market volumes down 62% against the relative average. Regionally, only Australia and the United States show inf...

Bitcoin profits on Block’s Cash App dropped slightly from the first quarter of 2023 but remain up 7% from this time last year. Shares in payment technology firm Block Inc. tumbled after hours despite its second-quarter results beating earnings expectations, including a 34% year-on-year increase in Bitcoin (BTC) revenue . In a Q2 earnings call, Block reported a whopping $2.4 billion in Bitcoin sales on its Cash App platform, with gross profit from Bitcoin sales coming in at $44 million, a 7% increase from the same time last year. Block’s revenue for the quarter increased 25.6% from $4.4 billion to $5.53 billion year over year, meaning nearly half came from Bitcoin sales alone. Our Q2 earnings are now available. $SQ https://t.co/oGcnRuzFb3 — Block Investor Relations (@BlockIR) August 3, 2023 The company attributed the increase in Bitcoin revenue to customers continuing to purchase the crypto asset despite a decline in price over the course of the last year. “The year-over-year incr...