Mind The Block: Your Weekly Dose of Web3 News and Insights
Mind The Block Headlines This Week
Table of Contents
- DWF Labs, DMCC, Bybit partner for $100K Web3 Hackathon
- A16z Crypto announces Fall 2024 cohort with 21 startups
- SEC collects $4.68B in crypto fines, up 3,018%
- Balance (E-PAL) raises $30M led by a16z, Galaxy Interactive
- Web3 empowers users, solving Web2 issues
- Oasys partners with SK Planet to expand gaming in South Korea
- Aptos prepares for 11M token unlock, potential price drop
- How Does the Staking Process Work?
News
- DWF Labs has partnered with DMCC and Bybit for a $100K Web3 Hackathon.
- Polygon Labs CEO Marc Boiron reveals plans to unite all blockchains, including Ethereum and Solana, with infinite scalability.
- Sonic SVM plans a $12.8M node sale on the Solana blockchain, using HyperGrid framework to create new networks.
- Aave has launched its second v3 deployment, focusing on stablecoin borrowing against EtherFi’s Wrapped eETH.
- Woo X has introduced an enhanced and fairer version of copy trading, aiming to reduce the pressure on lead traders to always outperform the market.
- Ether.fi is launching a “crypto-native” credit card on ZK-rollup Scroll, allowing users to pay with cryptocurrency anywhere Visa is accepted.
- Lambda256 has launched a free blockchain analysis dashboard called “Datasquare”.
- BIGG Digital Assets and Web3 Enabler have partnered to integrate cryptocurrency compliance into Salesforce, a CRM platform.
- South Korean Android users are targeted by a new malware campaign called SpyAgent, which uses OCR to steal crypto wallet recovery keys.
- AlpacaMoney and NULS have partnered to enhance multi-chain asset interoperability.
- Paybis, a leading crypto exchange platform, has integrated Revolut Pay and SWIFT as new payment methods.
Extras By Mind The Block
- TRON, Tether, and TRM Labs have formed the T3 Financial Crime Unit to combat illicit activity related to USDT on the TRON blockchain.
- Bitcoin Layer 2 Protocol Stacks has seen a 30% increase in smart contract deployments.
- DeBox has announced $BOX tokenomics and airdrop plans, with 20% allocated for foundation and 35% for ecosystem incentives.
- Orochi Network has partnered with Backpack Wallet to launch the “CONTRIBUTE TO EARN” platform.
- Kujira and three ecosystem partners have formed the “Rujira Alliance” to build a new application layer for THORChain’s cross-chain liquidity protocol.
- ZKCandy has launched the ZKcandy Voyage public testnet, aiming to create a fast, low gas fee, and vibrant gaming ecosystem.
- The dWallet Network has rebranded as Pera, a move that aims to improve developer access to Zero Trust Protocols (ZTPs).
- Snapshot Labs has introduced Snapshot X, an onchain voting protocol integrated into its v2 interface.
- RWA app has integrated with Near Protocol, a layer-1 blockchain, to monitor over $630 million in tokenized Treasuries and stablecoins.
Major Companies Making Moves
- A16z Crypto has announced its Fall 2024 cohort in New York, with 21 startups joining.
- Forbes Web3 and the Qiibee Foundation have partnered to launch a blockchain-based loyalty program.
- Sony’s Ethereum L2 Soneium has gained popularity after its testnet launched, with transactions exceeding 3 million.
- BBVA has integrated stablecoin USDC into its Switzerland-based crypto asset services.
- Tether has invested $100 million in Adecoagro, a South American agricultural firm, marking its first venture into the agriculture and food industry.
- AlchemyPay and TON Blockchain have partnered to enhance cryptocurrency payment on Telegram.
Government, SEC & Regulation
- The US Securities and Exchange Commission (SEC) collected $4.68 billion in crypto fines in 2024, a 3,018% increase from 2023.
- Putin announced Russia’s status as a global leader in bitcoin mining, mining 54,000 BTC in 2023.
- Kamala Harris, the Democratic Party’s VP, proposed policy positions for her future administration but skipped crypto.
- North Carolina passed a bill prohibiting state participation in Federal Reserve branch testing of a central bank digital currency.
- Russian businesses are urging Moscow to permit the unchecked use of crypto and stablecoins in foreign trade.
- Swiss crypto bank Amina is applying for an Austrian Virtual Asset Services Provider (VASP) license.
- South Korean Customs has linked rising drug smuggling to the use of cryptocurrency and Telegram.
- Indonesia’s crypto ecosystem faces monopolistic market concerns due to its lengthy and complex licensing regime.
- Kazakhstan’s AFSA regulator has granted full DATF licensing to crypto exchanges Binance and Bybit.
- The Nigerian SEC has announced plans to crack down on unlicensed cryptocurrency businesses targeting Nigerian residents.
- The Central Bank of Latvia has initiated pre-licensing consultations for local crypto asset service providers (CASPs).
- Kraken has limited fiat margin trading to wholesale clients following an Australian Federal Court ruling under the Corporations Act.
- Venezuela’s army has seized 35 Bitcoin mining rigs in a raid on a farm in Guárico.
Raises & Major Investments rounds
- Balance (E-PAL) raised $30M in a funding round led by Andreessen Horowitz (a16z crypto), Galaxy Interactive.
- PIN AI, an AI infrastructure company, has secured $10M in pre-seed funding from a16z CSX, Hack VC, and All-Star angels.
- Solana-based NFT drop platform DRiP raised $8M in a Seed funding round led by NFX, Progression Fund, Coinbase Ventures.
- Blocksense Network raised $4M in a Seed funding round led by Permutation.
Trends & Narrative
- JPMorgan analysts have emphasized the crypto market’s lack of major catalysts and its sensitivity to macroeconomic factors.
- Web3 is the future of the internet, addressing issues of Web2 and allowing users greater control over the internet.
- Bitwise CIO Matt Hougan has reported that investment advisors are adopting spot Bitcoin ETFs faster than any other ETF launched in recent history.
- Tony Green co-founded IO.Net, a decentralized GPU network designed to provide unlimited computing power to ML applications.
- Friendster and Nostr are gaining momentum as they demonstrate how decentralization can transform social media.
NFTs, Gaming, Metaverse
- Japanese blockchain Oasys is partnering with South Korean affiliate SK Planet to expand its gaming presence in the country.
- GAMEE is set to launch its WATCoin token in September, bringing its 90 million player base to the blockchain and Web3 ecosystem.
- StarkGuardians, the first-ever NFT collection on StarkNet, has launched the testnet for a new NFT lending and borrowing protocol.
- Telegram’s DuckCoop game is teaming up with Bitget for a major TON giveaway, offering players the chance to earn cryptocurrency rewards.
- Phoenix, a crypto analytics site, has released a list of top-performing NFT projects based on social media engagement.
- Moxy, an eSports and gaming platform, has partnered with SKALE Network to revolutionize Web3 gaming.
- Kraken is offering NFT holders the chance to showcase their PFPs on Williams Racing’s United States Grand Prix livery in the second Rear Wing Takeover contest.
Onchain Data
- Aptos is bracing for an 11M token unlock on September 11th, potentially lowering its price due to increased supply.
- Shiba Inu (SHIB)’s recent price increase to $0.000013 is likely to trigger more sell-offs.
- SushiSwap’s launch of Dojo, a new meme coin launch pad, could break the $1 barrier and potentially increase its price by 39%.
- $MOG gains momentum as Smart Dex Traders and Smart Money increase their buying activity.
- Cardano is set for a breakout, with key support levels holding strong.
Educational Guides and Tips from Mind the Block
- How to privately manage your crypto using Fluidkey stealth addresses.
- What is Crypto Earn Withdrawal? How Does the Staking Process Work?
- ‘Hamster Kombat’ Playground Guide: How to Earn Keys to Boost Your HMSTR Airdrop.
- Exploring the Rise and Impact of Restaking. Challenges to Overcome in Restaking.
- What is a MetaMask Secret Recovery Phrase & How to Secure It?
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