Mind The Block | February Week 3

Ramjith S014 mins

Mind The Block: Your Weekly Dose of Web3 News and Insights

Mind The Block Headlines This Week

  • Bitcoin ETF Inflows Soar to $2.3B
  • Filecoin Partners with Solana
  • UK to Regulate Stablecoins and Staking
  • Lava Network Secures $15M Seed Funding
  • Egotism: Personalize Your Digital Identity
  • Forbes Enters The Sandbox Metaverse
  • Worldcoin’s WLD Token has Surged 140%
  • What is a Blockchain Validator?

News

  • Bitcoin ETF inflows doubled to $2.3 billion last week, fueled by growing demand for BTC ETFs.
  • ETH gas fees hit an eight-month high amid the ERC-404 token craze, while Starknet faced an ongoing airdrop frenzy.
  • Uniswap has announced its v4 release timeline, set for Q3 2024.
  • Coinbase has experienced a significant withdrawal event, removing nearly $1 billion worth of Bitcoin.
  • Canada’s EQ Bank has partnered with identity platform Trulioo for biometric identity verification.
  • Chromia and RSTLSS have partnered to bring digital asset design to Web3 users.
  • Airdrop farmers are spamming GitHub comments for projects launching token airdrops, causing frustration for developers.
  • ArthSwap plans to expand into the Astar Network zkEVM, aiming to become a DeFi Hub connecting Polkadot and Ethereum.
  • Kadena SpireKey is a secure, human-friendly solution for seamless Web 3.0 interactions, integrating with WebAuthn technology.
  • Binance has announced the listing of the ORDI perpetual contract on its Futures platform, offering traders up to 75x leverage.

Extras By Mind The Block

  • BitSmiley and Merlin Chain have partnered to expand Bitcoin DeFi options.
  • Ripple (XRP) is a popular choice among banks worldwide due to its fast transaction speeds, low gas fees, and energy-efficient consensus.
  • Monad, a non-EVM network, has the potential to challenge Ethereum as the dominant smart contract platform.
  • FixedFloat, a non-KYC crypto exchange, was hacked, resulting in the loss of over 400 Bitcoin and 1,700 Ethereum, worth $26 million.
  • Cointelegraph Accelerator has chosen Dojima Omnichain Network as its latest platform for interoperability across blockchain networks.
  • AllianceBlock, a decentralized tokenized finance infrastructure platform, has rebranded as Nexera Foundation.
  • Ethiopia has signed a deal with Hong Kong’s Data Centre Service to build a $250 million data mining infrastructure project in the country.
  • Trust Wallet denied reports of an investigation by the US government regarding a potential vulnerability in the iOS version of the app.
  • A fake $10 million Uniswap airdrop scam has deceived several crypto media houses into running stories on the platform’s launch.
  • The Satsurday Weekly reports on Bitcoin market developments, including mining difficulties and the rise of Spot ETFs.
  • Slash Fintech Limited is expanding the Slash Deposit feature to all Bybit users worldwide.
  • Fake Rabby Wallet app has been approved on the App Store before the real one, causing scams and draining crypto stashes.

Major Companies Making Moves

  • Coinbase Commerce is reportedly planning to merge Solana with the Lightning Network.
  • Backpack Exchange, a global crypto on-ramp provider, has partnered with Banxa to enhance its user experience.
  • Chiliz has announced a strategic partnership with the K League to enhance fan engagement in Korean football.
  • Filecoin and Solana have announced a collaboration to enhance their blockchain capabilities.
  • Mondelēz International has partnered with Hedera, a fintech company, to develop distributed ledger technology solutions for internal use.
  • RHUNA is set to revolutionize the events and entertainment industry by integrating Web 3.0 and blockchain technologies.

Government, SEC & Regulation

  • VanEck has been fined $1.75 million by the SEC for failing to disclose a social media influencer’s role in the launch of an ETF.
  • UK government is pushing to legislate new regulations on stablecoins and crypto asset staking services within six months.
  • Virginia is integrating cryptocurrency into its $23.6 million development initiative, showcasing governmental innovation.
  • South Korea’s ruling People Power Party is proposing to delay the implementation of crypto tax laws for two years.
  • RBI may integrate CBDCs with digital payment infrastructure, including UPI, to boost adoption and drive the fintech wave.
  • FCA issued 450 warnings to companies promoting cryptocurrency assets from October 8, 2023, to December 31, 2023.
  • US prosecutors are seeking approval for a $4.3 billion plea deal for Binance.
  • Japan has passed a bill allowing investment funds and venture capital firms to purchase cryptocurrency assets.
  • US Attorney’s Office for the Southern District of Florida has charged Digitex Futures Exchange CEO Adam Todd with violating the Bank Secrecy Act.
  • Australian Federal Police Officer William Wheatley has been accused of stealing 81.616 Bitcoin during a steroid trafficking investigation.
  • Honduras has banned cryptocurrency transactions in its banks.
  • German MP Jana Cotar is advocating for Bitcoin to become legal tender in Europe.

Raises & Major Investments rounds

  • Lava Network raised $15 million in a seed round sponsored by HashKey Capital, backed by Jump Capital, Tribe Capital, and Roche.
  • AltLayer raised $14.4 million in a strategic round co-led by Polychain Capital and Hack VC.
  • Beoble secured $7 million in seed funding from various investors, including Hashkey and Samsung.
  • MercureDAO, a leading Web3 incubator, has raised $1.5 million to guide crypto projects toward success in the decentralized ecosystem.
  • In Q4 2023, venture capital (VC) investments in crypto-related companies reached $1.9 billion, a 2.5% increase from Q3 2022.
  • Vitalik Buterin is excited about the integration of Verkle trees into the blockchain and the role of AI in Web3.
  • Bernstein predicts a 50% chance of spot Ether ETF approval by May and a near-certain probability within the next 12 months.
  • CEO Jon Trask discusses the role of blockchain and Web3 technologies in agriculture.
  • Egotism is a decentralized delivery system that allows users to personalize their digital identity.
  • Miles Deutscher has released 16 essential trading tips for the volatile.
  • cryptocurrency market, emphasizing simplicity and conviction.

NFTs, Gaming, Metaverse

  • Forbes has acquired virtual land in The Sandbox metaverse, marking a significant move into Web3 and digital real estate.
  • Boomland, creators of Hunters On-chain, plans to migrate to Immutable zkEVM, a rapidly growing Ethereum-compatible chain.
  • 9dc is launching its first full NFT fashion collection, featuring over 60 items from Italy, Japan, and the US.
  • Euroleague Basketball and Sportpass have partnered to create web3 games featuring basketball-themed content.
  • Yuga Labs has acquired PROOF, a leading Web3 media and lifestyle company, which includes the Moonbirds NFT brand.
  • Wild Forest, a PVP card-collecting RTS from Zillion Whales, will launch its first NFTs on the Mavis Store on February 22nd.
  • Pixels is set to release a 20 million PIXEL token airdrop for Ronin network users who have staked RON tokens.
  • World of Women (WoW) is set to host its second annual Paris Gala event.
  • Arcade will launch an airdrop of 3 million ARCD tokens on February 21 to 4,000 lucky holders of select NFT and Bitcoin Ordinals collections.
  • Andre Cronje has praised the blockchain web browser game EstforKingdom, which operates entirely on-chain.

Onchain Data

  • PIXEL, the Ethereum token of Pixels, has surpassed major coins with over $1.2 billion in trading volume since its launch.
  • Worldcoin’s WLD token has surged 140% in a week as its wallet app, World App, reached 1 million daily users.
  • Arweave’s AR token has hit an 18-month high, reaching $14.68.
  • Cardano (ADA) and Avalanche (AVAX) have seen significant price increases, with ADA experiencing a 19% increase.
  • Polygon MATIC has reclaimed the $1 price point for the first time since January 24, following a surge in network activity.

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