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Venmo Co-Founder Releases Fair-Launch Token for New Platform, JellyJelly

The argument for Pump.Fun serving as a platform to launch an ICO (initial coin offering) is picking up steam again after Venmo’s co-founder, Iqram Magdon-Ismail, launched a token on the memecoin launchpad alongside venture investor Sam Lessin. The token, JellyJelly, is linked to an app with the same name focused on content creation and clipping. The founders tout it as “The fastest way to post clips from a video chat.” To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io CoinOtag

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Crypto Hacks Total $74M in January and CeFi Accounts for 93% of Losses

Cryptocurrency hacks have led to $74 million in losses in January, with centralized finance (CeFi) platforms bearing the majority of the impact. This marks a 45% drop from the $133 million recorded in the same month last year, according to a Jan. 30 report by cybersecurity platform Immunefi. Despite the decline, security threats remain, with hacks accounting for all reported losses. The largest incident involved crypto exchange Phemex, which lost $69.1 million. CeFi, or crypto platforms that custody users’ funds, accounted for 93% of total losses, despite only one successful attack, while 19 incidents across decentralized finance (DeFi) made up the remaining 6.5%. The most targeted chain in Jan. 2025 was the BNB Chain, accounting for 50% of Jan.’s losses on-chain. Ethereum came in second place, with 25% of the total. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io CoinOtag