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[Portal to Bitcoin Secures $50 Million in New Funding] According to CoinDesk, the Bitcoin-first protocol Portal to Bitcoin has secured $50 million in new funding, led by Paloma Investments, bringing the project's total funding to $92 million. The funds will be used to support the expansion of the company's adapter, BitScaler. BitScaler enables scaling of native Bitcoin without the need for wrapped tokens, custodial bridges, or 'messaging or other insecure alternatives.' Portal plans to use the new funding to expand its grant program and onboard institutional and community liquidity providers. Currently, the company is also conducting pilot integrations with wallets and custodial platforms to demonstrate non-custodial token swaps.

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[Lombard Launches Yield-Generating Bitcoin Asset LBTC on Solana Network] Odaily Planet Daily reports that Bitcoin DeFi protocol Lombard has launched the yield-generating Bitcoin asset LBTC on the Solana network. LBTC is an SPL token issued by Lombard, fully backed by Bitcoin, secured by a decentralized validator network, and provides real-time proof of reserves.