News from the blockchain world #67 | Web3 opportunities & more ??
Hey, crypto explorers! ?? Another exciting week in the world of Web3 and blockchain! Get comfy and dive into the latest news, trends, and developments we’ve curated just for you. Ready to stay ahead? Let’s go! ????
From this edition, you'll learn, a.o:
? Which major crypto exchange got licensed in Asia?
? How is blockchain transforming retail promotions?
? Which city is creating a blockchain-based digital ID?
? What countries are teaming up to fight crypto crime?
? How are USD and crypto merging on a new debit card?
For the freshest crypto opportunities, visit our page and explore curated airdrops, testnets, and NFTs.
Happy reading, and see you next week!
?? Gemini receives preliminary approval for MPI license in Singapore amid Asia expansion
Gemini, the crypto exchange founded by Tyler and Cameron Winklevoss, has received in-principle approval for a Major Payment Institution (MPI) license from Singapore's Monetary Authority, marking a key step in its Asia expansion. The MPI license will enable Gemini to offer cross-border money transfer and crypto payment services, underscoring its commitment to Singapore as the central hub of its APAC operations.
?? Bhutan Transfers $65 Million in Bitcoin to Binance, Prepares for Sale
The Kingdom of Bhutan has transferred $65.66 million in Bitcoin to Binance in a potential asset sale, as revealed by blockchain analytics firm Arkham Intelligence. Bhutan continues its state-run mining operations, generating around 780 BTC per month. While other governments have sold off Bitcoin holdings this year, Bhutan is the first to choose Binance for transactions. Despite this selloff, Bhutan still holds over $900 million in Bitcoin and has not shown any intention of divesting itself of its crypto programs entirely.
?? OKX Partners with Standard Chartered to Offer Custody for Institutions
Crypto exchange OKX has recently partnered with Standard Chartered bank to offer third-party crypto custody solutions for institutional investors. The partnership aims to set a new standard for security practices in the growing crypto market, combining the talents of both companies to cater to the needs of institutional clients. Additionally, OKX has expanded its global presence by launching operations in the UAE, further solidifying the strategic fit of their partnership with Standard Chartered.
?? Florida CFO wants state pension fund to invest in Bitcoin
Florida's Chief Financial Officer, Jimmy Patronis, has urged the State Board of Administration to consider adding Bitcoin to Florida's state pension funds. In an Oct. 29 letter to the board’s executive director, Patronis advocated for Bitcoin, highlighting its role as “digital gold” and a potential hedge against traditional market volatility. He pointed to other states, such as Wisconsin and Michigan, which have included crypto in their pension portfolios, and emphasized prioritizing strong returns for Floridian retirees. Patronis also noted this proposal aligns with Governor Ron DeSantis' stance against central bank digital currencies, underscoring crypto’s decentralized nature.
?? Venus Partners with Solv Protocol to Enhance BTCFi Ecosystem
Venus Protocol, a leading DeFi lending platform, has integrated SolvBTC into its core pools, allowing users to access enhanced liquidity and yield opportunities in the Bitcoin-powered finance (BTCFi) ecosystem. With over 18,000 BTC in reserves and impressive minting volume, SolvBTC has become a key player in the BNB Chain ecosystem. Backed by industry leaders and extensive security audits, this integration marks a significant milestone in the BTCFi space, providing users with new strategies to maximize returns on their Bitcoin holdings.
?? Propy Launches Crypto Escrow Service with Coinbase Prime to Facilitate Secure Real Estate Transactions
Propy, in collaboration with Coinbase Prime, has launched a new crypto escrow service aimed at simplifying high-value transactions like real estate closings and M&A deals. This service allows buyers to securely hold cryptocurrencies in escrow, catering to the growing number of US crypto holders looking to utilize digital assets in real-world purchases. By partnering with Coinbase, Propy ensures unprecedented security for both buyers and sellers, offering a regulated pathway for crypto transactions in the real estate market.
?? DeFi project 1inch partners with the Bruce Lee Family Company - FinSMEs
1inch announces a partnership with the Bruce Lee Family Company to promote the adoption of DeFi and Web3 with the slogan "Take crypto seriousLee." The campaign seeks to shift the perception of crypto as speculative and showcase it as the financial system of the future, drawing inspiration from Bruce Lee's values of integrity and resilience. The partnership will feature various activities in the coming months, starting with the release of a video promoting the campaign and sharing the benefits of Web3.
?? HKMA Project Ensemble partners with Brazil, Thailand for tokenization
The Hong Kong Monetary Authority (HKMA) is expanding its tokenization-focused Project Ensemble through collaborations with the Central Bank of Brazil and the Bank of Thailand. These partnerships aim to test cross-border payment and trade finance use cases, as well as advance tokenization efforts globally. With over 70 participants in the Drex project and plans for PvP and DvP settlements with the BOT, HKMA is paving the way for the future of tokenization.
?? Golden State Warriors Name Coinbase as Crypto Sponsor, Replacing FTX - Decrypt
Coinbase has entered into a partnership with the Golden State Warriors NBA team, expanding its existing collaboration with the league. The deal will see Coinbase's branding featured prominently at the Warriors’ Chase Center and on limited-edition merchandise. This agreement reflects a broader resurgence in crypto companies' partnerships with American sports franchises, following the fallout of FTX's collapse. The terms of the deal, including its cost and duration, were not disclosed by Coinbase or the Warriors. This new partnership comes as crypto companies have forged three times as many sports-related deals in 2023 compared to the previous year.
?? Slovenian Regulator Grants Bitstamp License for Crypto Derivatives
The Slovenian securities regulator has granted Bitstamp a MiFID Multilateral Trading Facility (MTF) license, allowing the exchange to offer advanced products, including crypto derivatives like perpetual swaps. This approval enables investors to gain exposure to cryptocurrencies without directly owning them, while utilizing Bitstamp’s efficient spot exchange for trading.
?? Tether Reports Record Reserve Holdings Amid WSJ Report
Tether Chief Executive Paolo Ardoino disclosed the company's impressive reserve holdings, including $100 billion in U.S. Treasury securities, 82,000 Bitcoins worth $5.5 billion, and 48 tons of gold. Despite being under scrutiny by U.S. authorities for potential violations, Ardoino vehemently denied any ongoing probe, highlighting Tether's efforts to prevent misuse of USDT. With a market capitalization of $120 billion in October 2024, Tether's growth and strong market confidence are evident, despite the regulatory challenges.
?? Bolivia continues crypto momentum as bank launches USDT custody
Cryptocurrency adoption in Bolivia is growing as Banco Bisa launches a custody service for Tether's USDt stablecoin, enabling clients to buy, sell, and transfer crypto. Supported by the financial regulator ASFI, the service allows safe transactions within the regulatory framework, minimizing risks. Customers will undergo verification for secure transactions. Notably, Bolivia banned cryptocurrencies in 2014.
?? Binance Partners with Paymonade to Offer Fiat Off-Ramp.
Binance has partnered with Paymonade to enable users to sell crypto directly to credit or debit cards, enhancing ease of fiat conversions. This fiat off-ramp feature allows Binance users in select regions to convert digital assets to local currency instantly, avoiding intermediary steps. Users need to complete Binance and Paymonade’s verification processes for added security, with higher withdrawal limits for verified users. This initiative reflects Binance’s ongoing product expansion, including recent additions like pre-market trading and leveraged futures contracts, as the exchange strengthens its global reach in digital asset management.
?? Western Union to buy Singapore mobile wallet Dash.
Western Union has acquired the mobile wallet Dash from Singtel, a Singaporean telco. The Dash wallet, launched in 2014, allows users in Singapore to pay, remit, save, invest, and insure all in one app, with over 1.4 million users. Western Union and Singtel are working together to ensure a seamless transition, with all Dash employees to be retained across both companies. The sale is pending regulatory approval, and financial terms have not been disclosed.
?? M^0 Integrates with Wormhole to Boost $M Stablecoin's Cross-Chain Capabilities.
M^0, a decentralized platform for issuing the $M stablecoin, has partnered with Wormhole to expand its stablecoin ecosystem across multiple blockchain networks using Wormhole’s cross-chain messaging and native token transfer capabilities. This collaboration aims to enhance access for developers, institutional participants, and retail users while prioritizing $M as a core stablecoin within Wormhole’s treasury operations.
?? Ripple and IBM provide crypto custody service for Garanti BBVA.
Garanti BBVA, a leading Turkish bank, has partnered with Ripple and IBM to offer a crypto custody service for its customers. This solution integrates Ripple Custody with IBM’s key management infrastructure, ensuring institutional-grade security for private keys and digital assets. The bank, which supports cryptocurrencies like BTC, ETH, USDC, and XRP, has already signed up 14,000 users for its digital asset service. The collaboration enhances Garanti BBVA’s ability to securely manage and expand its crypto offerings, leveraging advanced encryption, secure governance, and embedded Hardware Security Modules.
?? Chainlink Co-Founder Unveils TradFi Integration with Swift Messaging.
Chainlink has partnered with Swift to integrate blockchain technology into traditional finance (TradFi), enabling institutions to use Swift messaging for seamless digital asset settlements. Announced at the Sibos conference in Beijing, the collaboration bridges decentralized finance (DeFi) and TradFi with minimal infrastructure changes. Chainlink also introduced its Blockchain Privacy Manager (BPM), ensuring secure, private transactions while maintaining regulatory compliance.
?? Japanese Entertainment Giant's Crypto Arm in Partnerships to Support Web3 Economy.
DMM Crypto, the cryptocurrency arm of Japan's entertainment giant DMM.com, has partnered with Neoclassic Capital and Presto to develop its Seamoon Protocol, aimed at creating a Web3 economic hub for businesses and creators. Neoclassic Capital, a Florida-based investment firm, will provide funding and strategic support, leveraging DMM’s extensive user base of 45 million. The initiative aims to bridge DMM’s intellectual property in games and entertainment with Web3, supported by plans to launch its own blockchain, DM2 Verse, and the Seamoon Protocol (SMP) token.
?? Buenos Aires Partners With ZKSync for Blockchain-Based Digital Identity.
The City of Buenos Aires has partnered with ZKSync to launch QuarkID, a blockchain-based digital identity program allowing 3.6 million citizens access to over 60 government documents securely. This initiative, built on zero-knowledge cryptography, prioritizes individual privacy and marks a milestone in global innovation. With Argentina showing increased adoption of crypto and blockchain technologies, Buenos Aires is at the forefront of digital solutions.
?? Ubisoft Quietly Releases Its First NFT Game, Champions Tactics
Ubisoft's new NFT game, Champions Tactics, was released in a notably low-key manner, raising speculation about the studio's future and response to community feedback. With recent setbacks such as disbanded teams and delayed game releases, Ubisoft's future appears uncertain, especially as Tencent considers purchasing the studio. The quiet launch of Champions Tactics may indicate a shift in response to player desires, but only time will tell how Ubisoft navigates these challenging times.
?? Visa Collaborates with Coinbase to Integrate New Funding Features
Visa has partnered with Coinbase to integrate Visa Direct, allowing customers to deposit funds into their Coinbase account in real-time using eligible Visa debit cards. This collaboration adds convenience and new services for Coinbase customers in the US and EU, offering real-time, reliable, and secure money movement. The integration aims to increase economic freedom for customers, allowing them to quickly access funds for trading and take advantage of trading opportunities in the dynamic crypto environment.
?? Cut the Coupons: Mondelēz and SKUx See Blockchain Transforming Retail Promotions
Mondelēz, traditionally using slow, paper-based coupons, partnered with SKUx to digitize promotions via blockchain, reducing redemption time to seconds with 90% conversion. This new system provides real-time tracking, aligning with mobile-focused consumer behavior.
?? B2C2 and OpenPayd Partner for Fiat Transactions in Crypto Trade Settlements
The copy trading market is projected to double in size, reaching $4 billion by the end of the decade. To capitalize on this growth, brokers and financial institutions are leveraging PAMM, MAM, and Copy Trading solutions to enhance performance and attract new clients. In a recent webinar, Sergey Ryzhavin from B2COPY highlighted advanced features of their platform and shared strategies for using these tools to drive profitability, customer engagement, and revenue streams. Stay informed with Finance Magnates for the latest updates in finance and trading across social media platforms.
?? Nuffle Labs and OpenGradient team up for secure AI on blockchains
Nuffle Labs and OpenGradient have joined forces to offer secure, decentralized AI processing on blockchain networks. This partnership seeks to help blockchain developers integrate AI without relying on centralized, off-chain solutions that could compromise security and trust. The collaboration addresses the challenge of merging blockchain’s focus on security and data immutability with the computing flexibility that AI applications demand, bridging a technical gap that has traditionally hindered their combination.
?? Robinhood Joins Polymarket in Prediction Betting Game a Week to US Elections
Robinhood has expanded its services by offering political prediction markets for the 2024 US presidential election. Users can now trade on the outcomes of key candidates, such as Kamala Harris and Donald Trump, through the Robinhood Derivatives unit. This move aims to engage users with real-time financial and political events, potentially creating a new revenue stream for the company. Despite facing regulatory risks and concerns about market manipulation, Robinhood's foray into prediction markets reflects a growing trend of event-based trading in the US market. Ultimately, the impact of this venture on Robinhood's finances and legal standing remains uncertain.
?? FV Bank and Visa launch new cards to merge crypto and USD
FV Bank and Visa have launched new debit and corporate expense cards, announced at the Money 20/20 event in Las Vegas. These Visa cards enable FV Bank customers to spend both fiat currency and digital assets worldwide, providing an integrated solution for banking and crypto transactions. Available for both U.S. and international clients, the cards allow users to access and spend funds from their USD and digital asset balances, making global payments possible at millions of locations. This partnership marks a significant step in merging traditional banking with crypto capabilities for individuals and businesses alike.
?? Coinbase Unveils Fast AI Agent Creator To Bridge Crypto and AI
Coinbase has launched a new tool called "Based Agent," allowing developers to create AI-powered crypto agents in minutes. This tool, built on Coinbase’s Base network, supports significant blockchains like Ethereum, Polygon, and Arbitrum. The launch aligns with Coinbase's vision of an "Agentic Web," where AI-driven autonomous agents powered by blockchain drive economic activity in the digital realm.
?? Binance Connect Relaunches, Powering Fiat Currencies and 300 Crypto Options
Binance has announced the relaunch of Binance Connect, which serves as a fiat-to-crypto gateway aimed at boosting Web3 adoption. This service, previously known as Bifinity, has been rebranded and enhanced to allow users to execute fiat-to-crypto transactions directly through their Binance accounts and decentralized wallets like Trust Wallet. Originally launched in 2022 as a separate platform, Bifinity is now fully integrated into the Binance ecosystem.
?? Bitcoin ETFs Break Records With $63 Billion in Holdings, Surpassing Gold ETF's Historic Launch
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The first year of trading for Spot Bitcoin ETFs has been impressive, with 938,000 Bitcoin worth $63.3 billion accumulated, representing 4.5% of Bitcoin's total circulating supply. Market leadership is consolidated among BlackRock's IBIT, Grayscale's GBTC, and Fidelity's FBTC, who hold 84% of the ETF market, with BlackRock attracting the majority of new investments. Retail investors currently dominate the market, accounting for 80% of the investments, although institutional participation is growing steadily. However, Ethereum spot ETFs have struggled to gain traction, facing more than $103 million in outflows since their launch.
?? Trollbox: Turning Social Posts into Collectible Tokens on the Cosmos Hub.
Trollbox is a unique Web3 chat platform where users can turn posts into collectibles, which others can buy and trade for minimal fees. Instead of likes, posts collected by users become part of their collections, with 90% of sales going to sellers and 8% as royalties to creators. Each post has a minting cap of 100, and once fully minted, it can only be traded on the secondary market at Asteroid Protocol. To use Trollbox, connect a web3 wallet with ATOM, and you can post and collect on the Cosmos Hub blockchain. Trollbox promotes user value over ad-driven social media, aiming to reward quality content rather than advertisers.
?? Kraken to launch Ink blockchain for DeFi in early 2025.
Kraken exchange is set to debut its own blockchain, "Ink," in early 2025, focused on DeFi applications. Ink will enable users to trade, borrow, and lend tokens without intermediaries, diverging from Kraken’s centralized services. Unlike similar projects, Ink will not feature a native token, but DeFi tools like decentralized exchanges and yield platforms will be accessible via Kraken’s wallet app. A developer testnet will roll out in late 2024, allowing developers to trial DeFi applications. Kraken anticipates Ink’s role in meeting the growing demand for DeFi services, alongside recent expansions into derivatives trading.
?? Tomarket Reaches 40 Million Users Ahead of $TOMA Token Launch.
Tomarket, a mini-app in the TON ecosystem, has rapidly grown to over 40 million users within just four months of its launch, driven by gamified engagement and community involvement. The platform is now preparing for its Token Generation Event on Oct. 31, which will introduce the $TOMA token. To participate, users need to reach a bronze level and add a tomato emoji to their profile. With backing from Foresight X and Bitget Wallet, Tomarket’s TGE aims to establish a cohesive ecosystem focused on user engagement and feature exploration within the TON network.
?? MANTRA Launches Mainnet, Aims to Pioneer Tokenization of Real-World Assets.
MANTRA has officially launched its institutional-grade Layer 1 blockchain to bring tokenized real-world assets on-chain, transitioning its OM token from ERC-20 to the MANTRA Chain Mainnet. Despite the stable performance of the OM token, the RWA tokenization industry has expanded significantly this year, with MANTRA leading the sector with a market cap of $1.2 billion. Additionally, there is a growing interest in tokenizing real-world assets from institutional players, such as Legal & General and State Street, demonstrating the increasing adoption of blockchain technology in institutional finance.
?? Peanut releases instant offramp.
Peanut has launched the beta version of a self-custodial offramp, allowing users to cash out any token on over 20 EVM-compatible blockchains directly to their bank accounts in the US and EU. This service bypasses the need for centralized exchanges (CEXs), enabling users to convert crypto into fiat currencies like US Dollars or Euros. Peanut’s feature also supports transferring funds via messengers like WhatsApp and Telegram. With a fee of $1 + 0.25% for the beta launch, this solution aims to simplify crypto-to-fiat transactions, enhancing accessibility and usability across platforms.
?? Uniswap launches permissionless bridging across nine networks.
Uniswap has introduced in-app, permissionless cross-chain bridging for its users, enabling transactions across nine blockchain networks, including Ethereum, Arbitrum, Polygon, and ZKSync. Powered by Across Protocol, this new feature supports native assets like ETH and ARB, as well as stablecoins. Users can perform cross-chain transactions directly through the Uniswap interface and wallet. This move aligns with Uniswap’s broader strategy to enhance decentralized finance (DeFi) by promoting cross-chain liquidity and improving multi-chain swaps, following the recent announcement of its UniChain layer-2 platform.
?? Tokenized mineral rights investment platform Elmnts launches on Solana.
Elmnts, a platform for tokenized investments in mineral rights, has launched its public beta on the Solana blockchain. Accredited investors can now access blockchain-based funds backed by royalties from natural resource extraction, such as oil and gas. The platform aims to provide passive income tied to tangible assets and plans to expand beyond accredited investors in the future. Elmnts joins Solana’s growing ecosystem of real-world asset platforms, which includes projects like Credix and Ondo Finance, as Solana continues to show rapid growth in blockchain activity.
?? US Court Orders Forfeiture of Crypto Assets Linked to Mandala Acquisition LLC
On October 15, 2024, the US District Court in North Carolina granted the U.S. government’s request to seize cryptocurrency tied to Mandala Acquisition LLC. The court found all legal notifications were properly issued. Although Benjamin Malonzo filed a claim, he missed the deadline to respond, leaving the government’s forfeiture claim uncontested.
?? US and Nigeria form alliance to fight crypto crime
The United States and Nigeria have launched the Bilateral Liaison Group on Illicit Finance and Cryptocurrencies to tackle cybercrime and illegal digital finance activities. Led by U.S. and Nigerian authorities, this initiative aims to strengthen cross-border investigations as digital finance grows. It follows the release of Binance’s financial crime compliance head, Tigran Gambaryan, detained in Nigeria on money laundering charges.
?? Hong Kong considers tax break on crypto investments and using AI for finance
Hong Kong regulators are considering extending tax breaks to include digital assets like cryptocurrencies and artificial intelligence in finance. According to a Bloomberg report on October 28, Secretary for Financial Services Christopher Hui announced plans to propose this legislation by the end of the year, which could provide tax reductions for residents holding crypto investments. This initiative aims to strengthen Hong Kong's position in asset allocation.
?? UK crypto rules unclear for firms avoiding Europe’s MiCA regulation.
As Europe’s Markets in Crypto-Assets Regulation (MiCA) approaches implementation, some industry insiders believe it could prompt crypto companies to shift from the EU to the UK. However, UK-based experts caution that the UK’s regulatory landscape is too unclear and unpredictable to serve as a viable alternative. Natalia Latka of Merkle Science and Su Carpenter of CryptoUK highlight issues like the UK's lengthy registration process and uncertainty from the new government, which may deter companies from relocating. While MiCA presents an opportunity for the UK, its regulatory approach needs more clarity to attract firms.
?? Nigeria Drops All Charges Against Binance Executive Tigran Gambaryan in Surprise Court Hearing.
Nigeria has dropped all charges against Binance Executive Tigran Gambaryan in a surprising court hearing, marking a significant turn of events in the legal case. The decision comes after Gambaryan's arrest on charges of money laundering, fraud and illegal financial activities by the Nigerian authorities. The unexpected announcement has brought relief to Gambaryan and raised questions about the motives behind the initial charges.
?? Thai Immigration authorities crack down on $620K cross-border crypto scam
Thai immigration officials have dismantled a cross-border cryptocurrency scam that defrauded a local woman, Ms. Mallika, out of around $620,000. Authorities arrested five individuals, including Cambodian, Myanmar, and Thai nationals, who created a fake investment group to target victims. The scam began in late 2023, with perpetrators using a public Facebook group called “Investor Chat Room” to lure Ms. Mallika with promises of high returns. After moving the conversation to the LINE app, they convinced her to invest in supposed cryptocurrency and stock portfolios. To gain her trust, they sent small returns initially, leading her to transfer a total of 21 million baht ($621,000) across several accounts linked to the scammers.
?? Man Vanishes With Woman's Crypto, Prompting Police Investigation in Hong Kong
Hong Kong authorities are investigating a scam involving a woman who lost around HK$93,000 ($12,000) in tether (USDT). The 26-year-old was contacted online by a man offering to help her exchange cash for her digital assets. After transferring 12,000 USDT at a shop in Mong Kok, she waited over two hours for his associate to deliver cash but eventually contacted the police. The case is being treated as “obtaining property by deception,” and investigators are looking for a man described as about 30 years old and heavyset.
?? Monero Decrypted? Japanese Police Report Breakthrough in Flow Analysis Development.
Japanese authorities have arrested Yuta Kobayashi, the leader of a money laundering and computer fraud ring, reportedly using Monero transaction analysis to identify him. Kobayashi's group is accused of stealing credit card information through phishing and laundering money by making fraudulent purchases on Mercari, involving over 900 transactions and nearly $660,000 in damages. This marks a surprising claim, as Monero is known for its strong privacy features, and authorities have provided limited details on how they traced the transactions. However, skepticism remains until more concrete evidence on the Monero tracing method is released.
?? Russian Crypto Queen Jailed for Alleged ￡17M Scam to Fund Ukraine’s Army.
Valeria Fedyakina, a pregnant Russian crypto figure known as the "Queen of Crypto," has been imprisoned in a Russian gulag after being accused of running a ￡17 million scam to fund Ukraine’s military. Fedyakina allegedly operated a cryptocurrency pyramid scheme targeting four victims, promising crypto investment returns. Authorities claim she funneled the money to Ukraine’s armed forces, though her lawyers deny the charges, asserting she has always supported Russia's invasion of Ukraine. Fedyakina was arrested while trying to flee and could face up to 10 years in prison if convicted.
?? Bluesky raises $15M to expand decentralized social network and developer ecosystem.
Bluesky, a decentralized social network founded by ex-Twitter CEO Jack Dorsey, has raised $15 million to grow its user base, strengthen its developer ecosystem, and enhance user-centered features. Built on the AT Protocol, Bluesky’s platform allows users to control their algorithms and moderation tools, promoting decentralized, user-owned experiences without blockchain. The Series A round, led by Blockchain Capital, will also support a subscription model offering premium features like higher-quality video and profile customizations. Bluesky’s user base has grown from 1 million to over 13 million since mid-2023.
?? Hack VC leads $3.4M seed round for web3 health accountability app Moonwalk Fitness.
Moonwalk Fitness, a web3 health accountability app, has secured $3.4 million in seed funding led by Hack VC, with backing from Reciprocal Ventures, Binance Labs, CMS, and Flowdesk. Moonwalk uses a “move-to-earn” model where users stake cryptocurrency, joining groups with daily fitness goals. If users meet the goals, they retrieve their deposits and may earn bonus tokens; if not, part of their deposit is distributed to successful participants. This innovative approach aims to merge fitness and financial rewards, showcasing blockchain’s practical applications for healthier lifestyles.
?? STOKR Secures $7.98M To Launch Corporate Bitcoin Treasury in Europe.
European digital asset marketplace STOKR has secured $7.98 million, aiming to create one of the EU's first corporate Bitcoin treasuries, similar to MicroStrategy’s model. The funding includes 100 BTC (about $6.78 million) and €1.2 million cash. STOKR plans to use these funds to build out Bitcoin-based tokenized assets and develop layer-2 technology infrastructure like the Liquid Network. As part of its expansion, STOKR will transition from a Virtual Asset Service Provider (VASP) to a regulated Crypto Asset Service Provider (CASP) under the EU’s new MiCA framework, signaling a move toward stronger regulatory compliance.
?? Bitkraft Ventures leads $9M seed round in crypto mobile gaming platform Party Icons.
Bitkraft Ventures has led a $9 million seed round for Party Icons, a web3 mobile gaming platform focused on combining party games with intense shooter experiences. Other participants in the round include IDG Capital and The Sandbox co-founder Sebastien Borget. The funds will support the development of Party Icons' gaming and social features, as well as enhance its web3 infrastructure. Despite challenges in mainstream adoption, Party Icons is targeting quick, engaging game sessions designed for modern gaming habits, with rounds lasting under 12 minutes.
?? Arbitrum-based crypto derivatives trading protocol Variational raises $10.3 million in seed funding.
Variational, a decentralized finance protocol built on Ethereum's Arbitrum layer-2 network, has secured $10.3 million in seed funding co-led by Bain Capital Crypto and Peak XV Partners. Other participants include Coinbase Ventures and Dragonfly Capital. Initially launched as a market maker in 2022, Variational has pivoted to developing a peer-to-peer crypto derivatives trading platform. Currently in testnet, the platform offers two products: Omni for retail traders and Pro for institutional traders. The mainnet launch is planned soon, with future expansions including yield-generation and lending features.
?? Karpatkey Secures $7M to Boost DAO Treasury Services.
Karpatkey, a treasury management service for DAOs, has raised $7 million to extend its offerings to more DAOs and traditional financial institutions. The company, which manages over $1.8 billion in assets and has executed over 10,000 risk-free on-chain transactions, counts major clients like Aave, ENS, MakerDAO, and Uniswap. Originally spun off from GnosisDAO, Karpatkey plans to use the funding to grow its presence in the DAO space and expand into traditional finance, further solidifying its position in treasury management.
?? Mobileye Founder’s Digital Bank One Zero Seeks $100M in New Funding Round.
One Zero, the digital bank founded by Mobileye's Amnon Shashua, is set to raise $100 million in a new funding round, potentially valuing the company between $400 and $450 million. This follows its previous 2022 funding, which valued the bank at $320 million. The increased valuation is linked to the bank nearing profitability, expected by 2025. While expansion plans, particularly in Italy, were recently paused, the bank remains focused on offering AI-driven private banking services.
?? Winklevoss-Backed DeFi Platform Azura Launches After $6.9M Investment Round.
Azura, a DeFi platform supported by the Winklevoss twins, Volt Capital, and Alliance DAO, has launched following a $6.9 million investment round. Aiming to simplify the fragmented DeFi ecosystem, Azura acts as an all-in-one onchain interface, allowing users to trade assets across multiple blockchains and protocols from a single application. By bundling decentralized finance tools into an intuitive platform, Azura seeks to lower the entry barriers for new users and enhance DeFi accessibility without compromising on decentralization and self-custody.
?? Microsoft Puts Bitcoin Investment Proposal to Shareholder Vote, Board Advises Against.
Microsoft has placed a proposal to "assess investing in Bitcoin" on the ballot for its annual shareholder meeting on Dec. 10, as filed with the SEC. Proposed by The National Center for Public Policy Research, the vote seeks shareholder input on Bitcoin investment, despite Microsoft's board recommending against it, citing existing evaluation processes. Microsoft noted that its investment team regularly assesses diverse assets, including cryptocurrencies, while factoring in the high volatility of Bitcoin. If approved, Microsoft would become the largest public crypto investor, surpassing MicroStrategy and Tesla.
?? Too early to say Ethereum L2s are ‘cannibalistic’ to revenue: Sygnum Bank.
Industry analyst believes it is too early to determine whether Ethereum's layer-2 scaling solutions are cannibalistic or will lead to net growth. While there are concerns about the mainnet losing revenue to layer 2s, optimizing scalability could actually bring in revenue in new ways. Despite fears impacting Ether's price appreciation, the long-term view suggests that the growth of layer 2s could ultimately benefit Ethereum. As competition from other blockchains intensifies, Ethereum's scaling strategy may help it remain the leading layer-1 blockchain and even push for a new all-time high in the future.
?? As stablecoins gain greater traction, what's next for crypto's 'killer use case?'
Stablecoins, now a $177 billion market, have become a dominant use case in crypto, with major companies like PayPal and Ripple launching their own. Analysts highlight stablecoins' utility in cross-border payments, crypto trading, and even as significant holders of U.S. Treasuries. With Stripe’s $1.1 billion acquisition of stablecoin API firm Bridge, stablecoins are gaining legitimacy in traditional finance. Future opportunities include potential regulatory frameworks, interest-bearing stablecoins, and investment in public companies leveraging stablecoin growth. Their rise could also bolster Ethereum’s network, driving demand for ether.
?? Vitalik Buterin Slams Michael Saylor's Pro-Bank Bitcoin Custody Plan.
Ethereum co-founder Vitalik Buterin criticized MicroStrategy chairman Michael Saylor's proposal for institutional custody of Bitcoin, arguing that it goes against the decentralized nature of cryptocurrencies. Buterin highlighted the risk of regulatory capture and the importance of self-custody for maintaining decentralization. Critics like Jameson Lopp and others joined in to emphasize the dangers of centralizing Bitcoin custody in large financial institutions, expressing concern over the potential risks and loss of decentralization. Despite the backlash, Saylor remains optimistic, with MicroStrategy holding 252,000 BTC and predicting a $13 million valuation per coin by 2045.
?? Notcoin Founder Highlights Low-Cost User Acquisition Driving Success of Telegram Games.
Sasha Plotvinov, founder of Notcoin, notes that both large companies like Binance and smaller developers are building games on Telegram due to the low cost of acquiring users—often less than $1 per user, compared to $10–$15 in traditional crypto sectors. Telegram mini-games, powered by The Open Network (TON), have attracted millions of users, offering a fast-growing market for blockchain gaming. Plotvinov points out that while tap-to-earn games may not be sustainable long-term, Notcoin is diversifying with new game formats, such as "Lost Dogs" and "Not Pixel," to continue its growth.
?? Uniswap governance spat sparks worries that protocol isn’t decentralised.
Uniswap Labs' recent announcement of Unichain, its new Ethereum Layer 2 solution, has raised concerns about the decentralization of the Uniswap protocol. DAO delegates, who are meant to govern the protocol, claim they were not consulted on key decisions regarding Unichain, leading to worries that Uniswap Labs holds more control than token holders. Critics argue this undermines the decentralized nature of the DAO, while some defend Uniswap Labs' right to act without consulting delegates. The debate has reignited questions about how decentralized Uniswap’s governance truly is.