Monthly newsletter. Web3 Waves: Riding the Future of Digital Revolution
Hello Semoto Community!
Welcome to our July edition. The landscape of the Web3 startup ecosystem is evolving rapidly. Despite recent market volatility and a relatively low influx of investments, we're witnessing a significant shift in sentiment. More projects are actively seeking service providers, indicating a renewed confidence in the sector. Startups are beginning to allocate budgets for critical areas like marketing and tokenomics, signaling a strategic move towards growth and sustainability. At Semoto, we've experienced an uptick in new clients reaching out to incorporate new entities and launch tokens. Interestingly, there has been a notable increase in projects considering relocation to Dubai, a trend that has become more prominent compared to the last quarter. This shift reflects Dubai's growing appeal as a hub for innovation and business-friendly policies.
In other exciting news, our management has decided to transition out of the bootstrapping phase and embark on our first funding round. This marks a significant milestone in our journey, and we are eager to share this moment with our community. We will soon launch our Pre-seed stage, and we hope to receive your full support. This funding will enable us to accelerate our growth, enhance our services, and deliver even greater value to our clients. We encourage you to review our pitch deck and share it with your contacts to help us spread the word. Your support is crucial as we take this significant step forward.
Check our Investor's Deck?
Stay tuned for more updates, and thank you for being a vital part of the Semoto journey!
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Funding is coming back to Web3
Jully has seen the highest level of investment so far this year with the second week of the month reaching?an impressive $150.9 million funneled into various startups, showcasing the vibrant investment activity and confidence in the crypto space.Leading the charge,Partiorraised a monumental $60 million in a Series B round, aimed at enhancing its global ledger-based banking solutions. With heavyweights likeJ.P. MorganandStandard Charteredbacking it, Partior's growth trajectory is set to revolutionize real-time financial transactions globallNot to be outdone,RedStone OraclesandSendBlocksalso made headlines with significant funding rounds of $15 million and $8.2 million, respectively. RedStone is pioneering solutions to reduce costs for decentralized apps, while SendBlocks is innovating blockchain data management to unlock valuable insights for enterprises.Amidst these substantial investments,Tabi(formerly Treasureland) and ZAP have also secured funds to expand their footprint in the NFT and token distribution landscapes.With such dynamic growth and expansion across the sector, these startups are not just fueling their individual ambitions but are collectively driving forward the blockchain ecosystem.?
USA:
In a recent Bloomberg interview, former President Donald Trump highlighted the urgency for the U.S. to lead in the cryptocurrency domain to prevent global competitors, particularly China, from taking the reins. Trumps insights come at a time when the race for blockchain supremacy is more intense than ever.He suggests that bolstering national blockchain technologies and promoting American cryptocurrencies are crucial steps toward ensuring economic security and competitiveness on the world stage. Our priority must be economic security. We must ensure that American cryptocurrencies are strong and competitive, Trump asserted.Moreover, Trumps evolving stance on crypto was influenced significantly by his ventures into the NFT space, where he recognized the pivotal role of cryptocurrencies in modern transactions. His journey from skepticism to advocacy underscores the transformative potential of blockchain technology.nbsp;nbsp;UK:nbsp;How UKs Labour Government Could Reshape the Crypto Landscape
The recent political shift in the United Kingdom, with the Labour Party taking the reins, has sparked discussions across multiple sectors about potential changes in policies and regulations. One of the most buzzing sectors under the microscope now is the cryptocurrency and blockchain industry, thanks to the appointment of MP Tulip Siddiq as the Economic Secretary to the Treasury and City Minister. Siddiq, known for her proactive stance on stricter crypto regulations, now holds the reins to influence and potentially reshape the framework governing digital assets and central bank digital currencies in the UK. Full article ?
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Switzerland:
The Swiss Financial Market Supervisory Authority (FINMA) has introduced stringent new guidelines on stablecoin issuance that could severely impact the crypto industry in Switzerland. The new regulations require stablecoin issuers to either obtain a banking license or secure a bank guarantee, a demand seen as excessively burdensome for crypto startups. This requirement is likely to deter new projects due to the high costs and regulatory hurdles involved, such as needing to raise tens of millions of dollars for operational and compliance costs before even starting. Critics argue that such measures will stifle innovation and prevent the growth of new ventures, contrasting with the more agile and profitable operations of established stablecoin issuers like Tether.
In addition to the banking requirements, FINMA now mandates that every stablecoin holder must be identified, effectively eliminating the anonymity central to decentralized finance (DeFi). This move is seen as a major step towards centralization and regulation, contradicting the core principles of DeFi. The stringent identification requirements and the overall heavy-handed approach are expected to drive crypto innovators to more favorable environments like Abu Dhabi and Dubai, which are emerging as new hubs for blockchain development. Once considered a "crypto paradise," Switzerland now faces the risk of losing its status due to these regulatory measures, prompting calls for more balanced regulations that safeguard innovation while providing necessary oversight.
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Provider of the month:
BABS
BABS is a full-service emerging tech strategy firm that specializes in integrating investment, strategy, marketing, and communications to power growth in tech projects. They offer customised solutions to maximise the potential of projects and teams, focusing on marketing strategy, digital asset creation, storytelling, community management, tech development, and event organization. BABS also hosts websh3 , a global event series for leaders in sustainability, social impact, and technology innovation.
Partnership:
We are thrilled to announce that Semoto is sponsoring and supporting one of the strongest community in the Blockchain Space Crypto Monday UK,? ?Blog: Explore Crypto Launchpads: The Investment Boom https://www.semoto.io/post/explore-crypto-launchpads-the-investment-boom
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Thanks for reading
The Semoto Team https://www.semoto.io/