2nd April 2023

In March, the global economy faced a variety of challenges, including bank failures and inflationary pressures, which led many investors to seek safe havens for their investments. As a result, cryptocurrencies such as Bitcoin, which have been considered stores of value impervious to turmoil, saw significant gains.

Bitcoin saw a 20% surge in March, briefly reaching its highest level since June, breaking the $29,000 mark on Thursday. On March 14, the US government auctioned off 9,861 bitcoins that were seized from Silk Road, for a total of $215.7 million, and plans to sell the remaining 41,490 bitcoins in four batches throughout the year. The world's largest cryptocurrency is up 72% year-to-date and saw its best month since January 2023 when it gained 38.7% in March. Ethereum traded around $1,830, with an intraday high of $1,846, and recorded its highest level since mid-August, with a 10.6% increase in March and a 52.8% year-to-date spike.

The banking industry has recently faced some difficulties that have impacted crypto players. Silvergate Capital, a major lender to crypto firms, announced plans to shut down and liquidate its Silvergate Bank due to industry and regulatory developments. Silicon Valley Bank's parent company, SVB Financial, failed on March 10, leading to a liquidity crisis at several other banks and regulators seizing Signature Bank.

Despite these challenges, data from CoinMarketCap shows that Binance, Coinbase, Kraken, and KuCoin lead the industry as the top crypto exchanges. Nearly 6,000 new cryptocurrencies launched in 2022, with 22,709 cryptocurrencies listed on CoinMarketCap.com as of February 28. However, the global crypto market cap fell to $1.07 trillion from $2.215 trillion on January 1, 2022.

In other news?Kraken Crypto exchange enters Formula1 arena with Williams Racing partnership?and Crypto 1 announces its $500M C1 secondaries fund in Blockchain.?Burger King in Paris now accepts Bitcoin and crypto payments,?Crypto hardware wallet Maker Ledger raises most of $109M round,?Gucci and Yuga Labs are bringing high fashion to the Otherside,?and?Andy Warhol artworks to be offered as tokenized investments on Ethereum.?

In the News:?

AI-focused crypto protocol Fetch.ai raises $40M to deploy decentralized machine learning. Fetch.ai is a cryptocurrency protocol that focuses on artificial intelligence. It has received $40 million in funding from DWF Labs. This investment will be used to create a decentralized platform for machine learning, autonomous agents, and network infrastructure. Coindesk?

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Kraken Crypto exchange enters Formula 1 arena with Williams Racing partnership. This partnership will offer unique content, temporary events, and chances to purchase branded items from both companies. UToday?

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IR4LAB successfully completes pilot project to track ramadan donations using Blockchain. Saudi Arabian technology company IR4LAB has used its blockchain solution DocCerts to track food packages distributed to families during Ramadan. Each package was issued with an authenticity card and a unique ID and QR code, allowing recipients to verify its contents in real-time. Unlock Blockchain?

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Crypto 1 announces its $500M C1 secondaries fund in Blockchain, Crypto and Web3 companies. The regulated private investment fund will invest in digital assets, cryptocurrency exchanges, payment systems, wallets, custodian-services, lending and decentralized finance. Business Wire?

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Burger King in Paris now accepts Bitcoin and crypto payments. Burger King has launched Instpower power bank rental machines in Paris that accept cryptocurrency payments through Alchemy Pay and Binance Pay. Instpower now accepts crypto payments at over 14,000 sites globally, making it a major milestone for Burger King and the use of cryptocurrencies as a means of payment for goods and services. Finbold?

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Hong Kong regulators to host a meeting between Crypto firms and local banks. The Hong Kong Monetary Authority (HKMA) and Securities and Futures Commission are working towards setting up a direct dialogue between cryptocurrency firms and banking institutions. This move will help in sharing practical experiences and perspectives in opening and maintaining bank accounts. Crypto Potato?

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Circle announces USDC launch for Cosmos via Noble network. According to a blog post by Noble, the fiat-backed stablecoin will be the first of its kind on a Cosmos Inter-Blockchain Communication Protocol-connected network. The move is expected to help users bridge assets between networks in the overall Cosmos ecosystem. Cointelegraph?

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Top investing apps register 100 million downloads milestone. Investment apps have hit a new milestone with a combined 131.22 million downloads globally since their inception in 2015, according to data from Finbold. Among neobroker apps, Robinhood is the most downloaded platform with 50.08 million downloads or 38% of the top apps' downloads. The pandemic has accelerated the growth of investment apps as they offer a convenient and accessible way for people to invest. Finbold?

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For the first time since 2015: nearly 90% of the ETH supply now in self custody. According to crypto analytics provider Santiment, almost 90% of Ethereum's supply is stored in self-custody addresses, the highest percentage since 2015. The data reveals a trend of investors losing faith in centralized exchanges. Crypto Potato?

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European DeFi startups saw a 120% increase in VC investment in 2022. A new study by investment firm RockawayX has revealed that venture capital (VC) investment in European crypto startups reached an all-time high of $5.7bn in 2022, with European decentralized finance startups raising $1.2bn, a 120% increase from the previous year. Cointelegraph?

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Stables team up with Mastercard to launch Australia’s first stablecoin wallet. The move will allow Australians to save and spend USD Coins (USDC), which will be converted to fiat currency and settled on Mastercard's global network. The stablecoin payments will be accessible through the Stables digital app via mobile wallets, and transactions will be settled in real-time using USDC. Investing.com?

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OKX to launch Hong Kong entity, apply for virtual asset licenses. It intends to apply for the virtual asset service provider (VASP) license under the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Ordinance 2022 and Type 1 and 7 licenses under the Securities and Futures Ordinance. OKX?

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Crypto hardware wallet Maker Ledger raises most of $109M round: Bloomberg. The fundraising was initiated last August, with a second close set to take place in mid-April. Investors in the round include 10T, CapHorn Invest, Morgan Creek Capital, Cathay Innovation, True Global Ventures, Cite Gestion SPV, Digital Finance Group and VaynerFund.? Coindesk?

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MakerDAO passes new ‘constitution’ to formalize governance process. The new document will create several categories of participants with different responsibilities, such as the constitutional conservers, voter committee members and constitutional delegates. Cointelegraph?

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Krypto Miners Club releases revolutionary NFT collection backed by BTC Mining on Polygon Blockchain. The collection comprises 8,888 NFTs, each with unique features and characteristics. KMC's aim is to create a decentralized platform for cryptocurrency mining, enabling users to earn rewards by contributing to the blockchain network's security and dependability. Yahoo Finance?

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Animoca Brands and Hex Trust launch Gryfyn, NFT-centric custodial wallet joint venture. This multi-chain wallet is focused on NFTs and provides high-level security, allowing users to interact safely across various blockchains and products. Animoca Brands?

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Gucci and Yuga Labs are bringing high fashion to the Otherside. Luxury fashion brand Gucci is partnering with Yuga Labs, the issuer of non-fungible tokens (NFTs) behind Bored Ape Yacht Club NFT collection, to bring high fashion into the metaverse. The companies have signed a multiyear partnership to collaborate within Yuga Labs' Otherside metaverse and its 10KTF collection to explore joint opportunities between Web3 fashion and entertainment. Coindesk?

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Tommy Hilfiger launches multi-metaverse hub. Tommy Hilfiger has created a multi-metaverse hub, featuring various platforms such as Decentraland, Roblox, Spatial, DressX, and Ready Player Me. The aim of the hub, created by Emperia, is to provide a seamless shopping experience for users and is set in an iconic monolith structure made of the 'TH' monogram. Vogue Business?

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The Sandbox announces partnership with Ledger Enterprise to secure enterprises in the metaverse. The partnership will enable enterprise brand partners of The Sandbox to integrate their security, and migrate all non-fungible tokens (NFTs) in The Sandbox collection wallet to a secure Ledger Enterprise wallet. Sandbox Game?

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Arts DAO Fest showcases first charity NFT collection in UAE by Al Jalila Foundation, supporting medical research. The Al Jalila Foundation, a non-profit healthcare organization, has launched the UAE’s first-ever Non-Fungible Token (NFT) collection by a charity. The collection, called “A Fingerprint on Humanity,” was created by Emirati artist Maisoon Al Saleh and seeks to raise awareness and funds for patients in the UAE affected by life-threatening illnesses. Unlock Blockchain?

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Argentinian airline issues every ticket as an NFT. By incorporating NFTs into their ticketing system, passengers can now buy, sell, and transfer their tickets independently, providing a more flexible travel experience. This ticketing technology is built on the Algorand blockchain and is managed by Ticket 3.0, a platform that handles the storage and management of NFTs for Flybondi. Coindesk?

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Indonesian government looks to NFTs to preserve cultural heritage. Muhammad Neil El Himam, the Deputy Chairman for Digital Economy and Creative Products in Indonesia's Ministry of Tourism and Creative Economy, has partnered with Quantum Temple, a technology company, to preserve Indonesia's cultural heritage through the use of digital tokens known as NFTs and cryptocurrency. Cointelegraph?

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Enjinstarter and Staynex announce Arsenal journey pass NFT. Enjinstarter, a launchpad and advisory firm for Web3 projects, has partnered with Staynex, a blockchain-based membership platform, to launch a special NFT campaign. The NFTs will offer token holders access to luxury accommodation options and an Arsenal home match of their choice. Enterprise Channels?

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Meet commercial NFTs: The next step in Web3 evolution. Blockchain-based games are leading the way in bridging the physical and digital world, with over half of active blockchain wallets used in the GameFi space in 2022. Commercial NFTs offer a potential solution, allowing players to create real value for a game's economy and become business owners in a virtual world. Cointelegraph?

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Polygon to help fight NFT scams with Web3 infra protocol partnership. To enable NFT authentication, Polygon has partnered with Wakweli, a Web3 infrastructure protocol that produces certificates of validity for nonfungible tokens (NFTs). According to Antoine Sarraute, co-founder of Wakweli, the collaboration intends to improve the security of the digital ecosystem by offering a channel for identifying counterfeit NFTs. Cointelegraph?

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Decentralized digital identities and credentials are key to mass Web3 adoption. Decentralized identities allow web users to have complete control over their data, and blockchain technology offers better security protocols and the idea of self-sovereign identity, allowing immutable interactions across the web. Cointelegraph?

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Ticketmaster launches NFT-gated ticketing service for Avenged Sevenfold shows. The firm created this service specifically for the upcoming A7X shows, and fans who owned the NFTs were given the opportunity to purchase tickets before they were available to the general public. Bitcoin.com?

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Andy Warhol artworks to be offered as tokenized investments on Ethereum. The platform cleared a regulatory hurdle with the U.S. Securities and Exchange Commission (SEC) recently, allowing it to offer fractionalized shares of fine artworks as security tokens on the Ethereum blockchain. Coindesk?

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NFT collection Y00ts makes the anticipated move from Solana to Polygon. Y00ts, a popular non-fungible token (NFT) project, has started to migrate its collection from Solana blockchain to Polygon network to increase transaction times and reduce network fees. Y00ts is using a cross-chain bridge to bring its 15,000-edition generative art collection to Polygon. Coindesk?

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Minecraft, GTA may yet change their tune on blockchain: GameFi execs. Grant Haseley, executive director at Wagyu Games, believes that the success of just one NFT-based game would be sufficient to initiate mainstream acceptance of the technology. Cointelegraph?