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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Ithaca Finance, a decentralized finance (defi) startup building composable options infrastructure, has raised $2.5 million in a pre-seed funding round.  The round was co-led by crypto trading firm Cumberland and venture capital firm Wintermute Ventures. Ithaca aims to bring more options trading volume on -chain and meet the growing demand for structured products in crypto markets.  Now, in testing on Arbitrum, its protocol uses an algorithmic market maker model to bootstrap liquidity. Commenting, Ithaca CEO Dimitrios Kavvathas said: “We are truly grateful for our investors’ support and are looking forward to revolutionizing the digital asset options trading landscape with their guidance and partnership.” Kavvathas previously held leadership roles at Goldman Sachs, Deutsche Bank, and crypto lender Ambe...

Plaintiff Jeffrey Huang claims his reputation was damaged when ZachXBT allegedly falsely accused him of embezzlement. Blockchain investigator ZachXBT has been sued for libel by one of the people he accused of fraud, according to a June 16 social media post. According to the post, Jeffrey Huang, known as “MachiBigBrother” on Twitter, has accused ZachXBT of damaging his reputation through false allegations. MachiBigBrother also posted an announcement stating that he is suing the on-chain sleuth. A year ago, @zachxbt published a Medium article about me that damaged my reputation. Today, I have filed a defamation lawsuit against him in the United States District Court for the Western District of Texas. — Machi Big Brother (@machibigbrother) June 16, 2023 ZachXBT responded to the lawsuit by calling it “baseless” and “an attempt to chill free speech.” He pledged to “fight back” against it. In a thread responding to his own post, ZachXBT linked to the Medium post that is accused of being l...