Cryptocurrency staking protocol Symbiotic closed a $29 million Series A funding round led by Web3-focused investment firms, including Pantera Capital and Coinbase Ventures, to support the launch of a new economic coordination layer for blockchain security.

The round included more than 100 angel investors, with participation from major industry players including Aave, Polygon and StarkWare, the company said in an April 23 announcement shared with Cointelegraph.

The closing of the funding round also marks the launch of Symbiotic’s Universal Staking Framework, which aims to be an economic coordination layer that bolsters blockchain security via staking.

The new staking layer enables the use of any combination of cryptocurrencies to secure networks, including monolithic and modular layer-1 and layer-2 blockchains, the announcement stated.

“We’ve created a modular framework that lets protocols evolve security models over time while efficiently coordinating risk,” Misha Putiatin, co-founder of Symbiotic, told Cointelegraph. “This empowers protocols at every stage of their lifecycle to evolve their security models seamlessly without rebuilding infrastructure.”

Related: Ethereum L2 development is ‘double-edged sword’ for ETH value

The “next step” in blockchain infrastructure

The new staking layer is the “next step in blockchain infrastructure” due to unlocking “economic coordination between assets and networks that were previously impossible,” according to Paul Veradittakit, managing partner at Pantera Capital.

“As the number and variety of onchain assets continue to increase, Symbiotic allows them to easily serve as economic security while enabling entirely new use cases across DeFi,” he added.

Blockchain networks looking to bolster security can adopt Symbiotic’s network of decentralized validators that bring “programmable security” without the need to modify infrastructure.

According to the company, 14 networks, including Hyperlane, Spark and Avail, have already adopted the new coordination layer, with 20 more expected to follow.

The staking layer enables “any protocol, including L1s, bridges, oracles, and even emerging verticals like artificial intelligence or zero-knowledge systems, to configure their own validator sets, incentive mechanisms and slashing conditions without having to rebuild core infrastructure,” Putiatin said.

Related: Bitcoin ETFs log $912M inflows in ‘dramatic’ investor sentiment boost

Crypto needs more collaborative economic incentives: Hoskinson

Cardano founder Charles Hoskinson, speaking at Paris Blockchain Week 2025, emphasized the need for collaborative economics in the crypto industry to counter growing competition from traditional tech firms entering the blockchain space.

Charles Hoskinson. Source: Cointelegraph

Crypto’s “circular economy,” which often means that the rally of a specific cryptocurrency is bolstered by funds exiting another token, is limiting the growth of the industry, said Hoskinson.

“The problem right now, with the way we’ve done things in the cryptocurrency space, is the tokenomics and the market structure are intrinsically adversarial. It’s sum 0,” said Hoskinson. “Instead of picking a fight, what you have to do is you have to find tokenomics and market structure that allows you to be in a cooperative equilibrium.”

“You can’t build a global ecosystem this way, and you can’t win this way,” he said. “Because here’s the thing. The incumbents are much larger.”

Magazine: 3 reasons Ethereum could turn a corner: Kain Warwick, X Hall of Flame

Gaming giant Ubisoft has partnered with Web3 firm Immutable to launch Might & Magic: Fates, a blockchain-powered strategy card game set in the Might & Magic universe.

According to a news release shared with Cointelegraph, Might & Magic: Fates blends classic strategic gameplay with modern blockchain technology, offering players digital ownership through Immutable’s Web3 infrastructure.

The game will launch on iOS and Android. The title introduces fresh mechanics, faction-based strategies and a wide array of legendary heroes and creatures.

Players can collect, trade, and customize decks using hundreds of cards, crafting unique strategies in a competitive environment where success is driven by skill and tactical decision-making.

Immutable co-founder Robbie Ferguson teases major announcement. Source: Robbie Ferguson

“The game is free-to-play with no hard progression barriers. Players advance by collecting cards and in-game currency through gameplay,” Justin Hulog, chief studio officer for Immutable, told Cointelegraph.

“Additionally, those looking to speed up their progression or acquire specific cards can do so through marketplaces,” Hulog said.

He added that players will have the ability to trade the digital collectible cards they own using dedicated platforms.

Related: SEC closes investigation into Immutable nearly 5 months after Wells notice

Immutable to provide blockchain backbone

Immutable, a leading Web3 gaming platform, will provide the blockchain backbone for the project.

The firm is known for hosting titles like Gods Unchained and Guild of Guardians, both designed to give players true ownership of in-game assets through blockchain technology.

Gods Unchained is a free-to-play NFT trading card game where players collect, trade, and battle using unique, player-owned cards. It runs on Immutable’s gas-free layer-2 solution and is transitioning to Immutable zkEVM for enhanced functionality.

The card anatomy of Gods Unchained. Source: Gods Unchained

Guild of Guardians is a mobile RPG where players assemble NFT-based teams of heroes to battle in dungeon raids.

Ubisoft has been among the few video game publishers that have incorporated crypto elements into their games.

Related: How Web3 can change gaming without changing how gamers play

In October 2024, the firm announced the release of its first game incorporating Web3 technology. Dubbed Champions Tactics: Grimoria, the game was deployed on the Oasys layer-2 Home Verse, a blockchain-powered ecosystem for Web3 gaming.

Later in December 2024, Ubisoft and the Arbitrum Foundation announced the launch of Captain Laserhawk: The G.A.M.E., a Web3-enabled top-down shooter. 

The game is set in the Ubisoft gaming universe and features a cast of characters from titles including Far Cry: Blood Dragon, Rayman, Assassin’s Creed, Beyond Good and Evil, The Crew, Rainbow Six, Splinter Cell and Watch Dogs.

Magazine: XRP win leaves Ripple and industry with no crypto legal precedent set

Crypto exchange giant Coinbase is set to expand its footprint by hiring over 130 employees in Charlotte, North Carolina, as part of a broader push to tap into emerging fintech talent pools across the US, a company spokesperson confirmed to Cointelegraph.

“Coinbase is making a new investment in Charlotte with a new physical office and an immediate commitment to hire for 130+ local roles across both Compliance and Customer Support over the next six months,” the spokesperson said.

They added that Coinbase’s focus on Charlotte is in response to the city’s emergence as a key financial and tech center, making it a prime choice for expansion to address increasing customer and compliance demands.

With a fast-growing population and a highly skilled talent pool, Charlotte offers an ideal setting to support Coinbase’s long-term growth, the spokesperson said.

Related: Coinbase Derivatives lists XRP futures

Coinbase remains a remote-first company

Coinbase has operated as a remote-first company since 2020, with existing offices in San Francisco and New York.

“We are still a remote-first company; however, we have some roles globally that are in office due to the nature of the role and our focus on how we can best deliver for our customers,” the spokesperson said.

They added that around 95% of Coinbase’s employees have the option to work from home, an office, or a mix. The bigger picture here is we’re making an intentional push to meet top talent where they are.

Related: Paul Atkins’ loosely linked RSR token rises 13% after Coinbase listing

The move comes as Coinbase CEO Brian Armstrong outlined plans to add about 1,000 new US employees this year, driven by favorable regulatory signals from President Donald Trump’s pro-crypto administration.

“Coinbase is planning to hire about 1,000 people in the United States this year as a direct result of his actions already in the first 60 days or so,” Armstrong said in a video posted to X on March 7.

Armstrong revealing hiring intentions outside the White House. Source: Brian Armstrong

Adding 1,000 more employees would increase Coinbase’s total workforce by about 27%, according to Stockanalysis’ most recent data, which shows that the crypto exchange currently has 3,772 employees.

The new expansion plans also come as Coinbase has confirmed that it is considering applying for a US federal bank charter.

Magazine: Former Love Island star’s tips on how to go viral in crypto: Van00sa, X Hall of Flame