RISE Chain Secures $4M From Galaxy to Power Ultra-Fast Layer-2
RISE Chain, a layer-2 blockchain focusing on speed and low latency, has secured a $4 million investment from Galaxy Ventures, the venture arm of Galaxy Digital.
The capital will go towards building out the project's forthcoming mainnet. This brings RISE's total capital raised to $8 million, following earlier support from prominent crypto figures including Ethereum co-founder Vitalik Buterin.
The team behind RISE is focusing on building a high-throughput, low-latency blockchain to address what it views as a core barrier to mainstream adoption: performance at scale. The project is hoping to take on competitors with their ultra-fast transaction speeds like MegaETH, or big layer-2 incumbents like Arbitrum or Base.
According to a press release shared exclusively with CoinDesk, RISE achieves sub-block transaction confirmations—called 'Shreds'—that deliver latencies as low as 5 milliseconds. Its target throughput is over 100,000 transactions per second (TPS), exceeding most existing Layer 1 and Layer 2 networks, according to the team.
Ultimately, the team behind RISE believes that the fastestness of its product will be a natural fit for speed-sensitive applications like central limit order books. 'I think [that one] is just ultimately inevitable,' said Sam Battenally, the CEO of RISE, in an interview with CoinDesk. Beyond that, Battenally believes the use cases are quite vast, but believes 'a lot of interactive social networks and gaming seems to be quite promising.'
RISE is currently in testnet, but the team hopes to launch its mainnet later this year as well as a token related to the project.
Read more: Galaxy, Fireblocks to Operate Nodes on Bitcoin Layer-2 Botanix
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Dollar Confidence Is Waning, Bitwise CIO Warns—Is Bitcoin The New Safe Bet?
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Confidence in the dollar and the fiat system, in general, is breaking down, and central banks are turning to gold while individuals are turning to Bitcoin, according to Bitwise investment chief Matt Hougan. Hougan said in a June 17 note that 54 years after the U.S. left the gold standard, the world is waking up to the reality that the fiat system may not make sense. 'Maybe printing money out of thin air, as we started to do in 1971, is actually a wild idea,' he said. "Maybe sound money requires limits. Put differently, people are starting to look around and ask: What the hell is fiat?' Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . Hougan cites a recent Financial Times report, which said that gold was once again becoming the anchor of the global economy as people questioned the core assumptions of the present system. Central banks have been rapidly accumulating gold in recent years, with spikes following the 2008 financial crisis and Russia's invasion of Ukraine in 2022. Amid this buying spree last year, gold surpassed the euro as the second most widely held reserve asset by central banks, behind only the dollar. Hougan said the flight back to gold came as governments started abusing fiat and accelerated after they began seizing it. He said the desire by central bankers to hedge their bets has only grown with the increasing temptation for the U.S. to devalue its way out of its ballooning $37 trillion debt. He notes that they are turning to gold because it is scarce, global, resistant to manipulation and non-sovereign. These characteristics, he points out, also apply to Bitcoin, which he says has become the alternative for individual investors. He cites the large capital inflows into Bitcoin exchange-traded funds since they started trading in January 2024 compared to gold. Trending: New to crypto? on Coinbase. Bitcoin ETFs have attracted $45 billion in net inflows. By comparison, gold ETFs have attracted only $34 billion. 'I see these as two sides of the same trade,' he said, comparing the flight of central banks to gold and the individuals to Bitcoin. Hougan said the main reason central banks still preferred gold boiled down to market size. At $2 trillion, Hougan said the Bitcoin market did not yet have the liquidity to support the entry and exit of central bankers at scale. But he said this might be changing as government demand grows. To be sure, several countries have started considering Bitcoin reserves following President Donald Trump's move in March to establish a U.S. reserve from seized assets. According to Hougan, whether it is gold or Bitcoin, the message is clear: investors are rethinking their portfolios to hedge against fiat risks. 'For the last forty years, we've been taught to diversify our portfolios by combining stocks and bonds,' he said. 'But no matter how you calibrate that—60% stocks and 40% bonds, or 70/30, whatever—you are still 100% exposed to fiat currency. People are realizing that those are rather risky waters to be swimming in.' Read Next: A must-have for all crypto enthusiasts: . Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Image: Shutterstock This article Dollar Confidence Is Waning, Bitwise CIO Warns—Is Bitcoin The New Safe Bet? originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Upturn
an hour ago
- Business Upturn
AIXA Miner Integrates AI and Clean Energy to Power a New Era of Cloud Mining in 2025
Denver, CO, USA, June 22, 2025 (GLOBE NEWSWIRE) — In a major advancement for the global crypto mining industry, AIXA Miner today announced the expansion of its AI-powered cloud mining platform, now fully supported by green energy sources. The move strengthens AIXA Miner's position as a forward-thinking player in the digital asset space, while making daily crypto income more accessible and more sustainable for users worldwide. As interest in decentralized finance grows and regulatory focus sharpens, 2025 is proving to be a pivotal year for crypto mining. AIXA Miner's cloud-based system offers a hardware-free, AI-optimized, and environmentally conscious mining solution that requires no prior technical knowledge or large capital investment. Bridging Crypto, AI, and Sustainability Designed for beginners and experienced users alike, AIXA Miner enables anyone to start earning daily rewards in leading cryptocurrencies — including Bitcoin, Ethereum, and Litecoin — through its intelligent, cloud-hosted mining architecture. The platform's unique value lies in its combination of: Artificial intelligence , used to dynamically allocate mining resources for optimal output , used to dynamically allocate mining resources for optimal output Clean energy-powered mining farms , cutting environmental impact , cutting environmental impact Free sign-up mining trial , giving newcomers a risk-free entry point , giving newcomers a risk-free entry point Low-cost mining contracts , with flexible durations and terms , with flexible durations and terms Daily payouts and full earnings control, accessible via a secure user dashboard In line with the industry's green transition, AIXA's energy-efficient infrastructure operates in regions with abundant renewable energy sources, aligning with broader ESG standards and carbon neutrality goals. Making Daily Crypto Income Simple AIXA Miner's goal is to eliminate complexity from crypto mining. Users simply register with an email, choose a mining plan (or start with the free trial), and the platform's backend takes care of everything — from resource allocation to performance tracking. With 24/7 cloud uptime, earnings accumulate automatically, and users can withdraw or reinvest anytime. This 'plug-and-earn' experience reflects a growing demand for low-risk, passive income solutions that don't rely on expensive hardware or volatile trading environments. Start Mining in Minutes Go to Register with your email to activate your free trial Choose the crypto you want to mine Let the AI-powered engine begin mining Monitor your earnings in real-time Withdraw anytime, or grow your income with longer-term plans Building a Smarter Mining Future AIXA Miner's 2025 expansion is not just about mining more coins — it's about doing so responsibly, intelligently, and inclusively. With built-in support for multiple global languages and secure wallet integrations, the platform is tailored for a worldwide user base seeking transparent, stable, and eco-friendly mining solutions. About AIXA Miner Founded in 2020, AIXA Miner is a U.S.-based cloud mining platform powered by renewable energy and artificial intelligence. With a presence in over 200 countries and regulatory certifications, the platform delivers secure, daily-yield mining services that are easy to access and designed for long-term sustainability. For more information, visit: [ Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or trading recommendations. Cryptocurrency mining and staking involve risks and the possibility of losing funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Yahoo
an hour ago
- Yahoo
Bitcoin Drops Below $100,000 After US Strikes Iran Nuclear Sites
(Bloomberg) -- Bitcoin slid below $100,000 for the first time since May and Ether sank sharply after President Donald Trump said US bombers attacked Iran's three main nuclear sites, triggering risk aversion in weekend trading in digital-asset markets. Bezos Wedding Draws Protests, Soul-Searching Over Tourism in Venice One Architect's Quest to Save Mumbai's Heritage From Disappearing JFK AirTrain Cuts Fares 50% This Summer to Lure Riders Off Roads NYC Congestion Toll Cuts Manhattan Gridlock by 25%, RPA Reports Bitcoin sank as much as 3.8% to $98,904 as of 12:05 p.m in New York in the aftermath of the attacks. Ether, the second-largest, token fell as much as 10% to about $2,157, its lowest intra-day level since May 8. 'Markets are nervously eying ongoing geopolitical developments,' said Caroline Mauron, co-founder of Orbit Markets, a provider of liquidity for crypto derivatives. The focus of markets will be largely on oil when traditional markets reopen, she said. The latest losses come after Trump said the Iranian sites of Fordow, Natanz, and Isfahan were struck in the operation, specifically describing a 'payload of BOMBS' dropped on Fordow, a key location of uranium enrichment that has raised international concern that Iran was preparing to create a nuclear weapon. 'The overhang of whether the US would strike Iran caused a selloff through the week and into the weekend,' said Cosmo Jiang, general partner at Pantera Capital Management. Total liquidation of crypto bets over the last 24 hours was more than $1 billion, with about $915 million and $109 million in long and short positions closed respectively, according to data compiled by Coinglass. Jiang said Bitcoin 'tends to lead the market out of a bounce' in times of geopolitical uncertainty. (Updates headline and first two graphs to note Bitcoin below $100,000.) Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags Is Mark Cuban the Loudmouth Billionaire that Democrats Need for 2028? Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros The US Has More Copper Than China But No Way to Refine All of It Can 'MAMUWT' Be to Musk What 'TACO' Is to Trump? ©2025 Bloomberg L.P. Sign in to access your portfolio
