Mind The Block | June Week 1

Ramjith S013 mins

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

Mind The Block Headlines This Week

  • Circle Joins BIS Project Agora
  • Binance Debuts ‘Learn & Earn’ Program
  • Thailand SEC Approves Bitcoin ETF
  • Avail Secures $43 Million Funding
  • AI Integrates Tech and Bitcoin Centers
  • Google, Magic Leap Target Metaverse
  • Polkadot Holds $7 After Bearish Week
  • How to add Arbitrum to MetaMask?

News

  • Circle has applied to join BIS’s Project Agorá, aiming to enhance global financial systems.
  • Base Ecosystem’s total value locked (TVL) hit an all-time high, outpacing competitors like Arbitrum and Optimism.
  • Trust Wallet and Mercuryo have partnered to power crypto off-ramps for over 30 digital assets.
  • Deutsche Bank will work with Austrian crypto broker Bitpanda to process customer deposits and withdrawals.
  • VibrantX Finance has partnered with the decentralized finance application Avex Defy to promote mutual growth.
  • Binance will restrict access to “unauthorized” stablecoins in the European Union starting June 30.
  • Wirex Pay, a modular Zero Knowledge (ZK) payment chain, has partnered with Gateway.fm to power its upcoming node sale.
  • Haven1 and Stader Labs have partnered to introduce hsETH to enhance rewards and participation in the Ethereum ecosystem.
  • Japanese exchange DMM has lost over $305 million in Bitcoin due to a private key hack on May 30.
  • Kinetix has introduced AI tools to enhance DeFi usability, reducing complexity and improving usability.

Extras By Mind The Block

  • Creata Chain and Corum8 have signed a Memorandum of Understanding (MOU) to enhance and expand Creata Chain’s Web3 ecosystem.
  • NTU Singapore and HackQuest have launched a free Web3 Massive Open Online Course called “Ideating and Building in Web3”.
  • Chakra has partnered with the Starknet Foundation to improve parallelization and decentralized sequencing for the Madara Starknet Substrate stack.
  • Maple Finance has launched Syrup, a protocol offering institutional yield to the DeFi ecosystem, targeting 15% yields in USDC.
  • Ronin and Coinbase have launched a Learn & Earn campaign for RON rewards.
  • Oasis Network, a scalable blockchain network, will present at the ETHBelgrade conference on June 3rd.
  • RISC Zero has announced an exclusive partnership with Worldcoin, an open-source and decentralized protocol.
  • Linea, an Ethereum Layer 2 network, halted block production after a security breach at Velocore.
  • Orbs’ Liquidity Hub has been integrated with Fantom’s leading automated market maker (AMM), SpookySwap.
  • Chainsense is transforming the Web3 landscape with the launch of LycanChain.
  • Fold has introduced its Direct to Bitcoin feature, allowing users to auto-convert 1% to 100% of their fiat deposits to Bitcoin.

Major Companies Making Moves

  • Tesla and VeChain may collaborate on VeBetterDAO, with Elon Musk expressing optimism about sustainable blockchains.
  • Binance has launched its ‘Learn & Earn’ program, offering DODO rewards for course completion.
  • Animoca Brands and Everest Ventures Group have formed a strategic partnership involving cross-investments in each other’s projects.
  • OKX has launched its local trading platform and Web3 wallet in the Netherlands.
  • Kooc Media has launched Blockfresh.com, a news platform focusing on the blockchain and crypto ecosystem.
  • The Ethereum Foundation, Alchemy, Circle, and Quantstamp have launched an official resource for ERC-6900.
  • Alchemy Pay has expanded support for Tether’s USDT and Circle’s USDC stablecoins on Celo.

Government, SEC & Regulation

  • Helene Bussieres has called for a harmonized approach to cryptocurrency rules across Europe.
  • Dubai Financial Services Authority (DFSA) has updated its crypto token regime.
  • Binance has stopped allowing cash payments for peer-to-peer (P2P) cryptocurrency trades in India.
  • Australian regulator ASIC has been ordered to pay the costs of a legal dispute with crypto-based startup Block Earner.
  • President Joe Biden’s re-election campaign has shifted focus to digital currencies, particularly Bitcoin.
  • Coinbase CEO Brian Armstrong has outlined a strategy to achieve regulatory clarity for the US crypto sector.
  • Thailand’s Securities and Exchange Commission (SEC) has approved the first spot Bitcoin ETF for ultra high net-worth individuals.
  • Hong Kong is set to shut down all unlicensed crypto exchanges.
  • Russian companies use crypto for cross-border settlements to avoid potential sanctions from Western countries, including the G7 and EU.
  • FIT21, the first digital asset legislation in US history, passed in either chamber of Congress with strong bipartisan support.
  • Qatar’s Central Bank Digital Currency is launching its pilot phase, focusing on large bank settlements using AI and distributed ledger tech.
  • Australian investment management firm Monochrome Asset Management will launch Australia’s first spot Bitcoin ETF on May 4, 2024.
  • Mexico’s governing Morena Party’s Claudia Sheinbaum, who was elected president, is unlikely to change Mexico’s crypto stance.
  • Brazil’s central bank has delayed the launch of its DREX CBDC initiative due to privacy concerns.

Raises & Major Investments rounds

  • Ethereum data network Avail raised $43M in a Series A funding round led by Founders Fund and Dragonfly Capital.
  • Confidential blockchain powered by Fully Homomorphic Encryption Fhenix raised $15M in a Series A funding round led by Hack VC.
  • CARV has secured a strategic investment from Intella X, the Web3 gaming platform backed by Korean gaming giant NEOWIZ.
  • GameFi platform on zkSync TRALA raised $5M in a funding round from Matter Labs, Animoca Brands, andGate Labs.
  • Milady Meme Coin has secured a $5 million investment from DWF Labs.
  • Web3-powered travel enables transparent, secure hotel reservations, genuine activity reviews, and better flight scheduling.
  • Dan Kaizer discusses his journey from coding Solidity and developing dApps to leading innovative efforts in transforming prediction markets.
  • AI is bringing big tech and Bitcoin data centers closer together.
  • Experts suggest blockchain could solve issues like NYSE trading glitches, highlighting vulnerabilities in centralized trading systems.
  • UK experts at the University of Birmingham have developed a transport ticketing solution using blockchain and ontology.

NFTs, Gaming, Metaverse

  • Google has partnered with Magic Leap to offer immersive experiences in the metaverse, promoting the AR/XR ecosystem.
  • Bitcoin NFTs have reached an all-time sales volume of over $4 billion, surpassing Ethereum, Solana, and Ronin.
  • MonkeyBit.io offers a fair, transparent gaming environment with diverse game types and a play-to-earn model.
  • EvoSim Universe has launched an innovative platform integrating electronic SIM cards with NFT functionality.
  • TrendX and KOI have partnered strategically to revolutionize the crypto gaming experience.
  • OneTo11 plans to expand its offerings to LATAM and MENA markets by adding three new games within the next 12 months.
  • Sidus Heroes has partnered with DWF Labs to revolutionize Web3 gaming.
  • Immutable X is a layer-two scaling solution for NFTs on Ethereum, offering zero gas fees for minting and trading NFTs without compromising security.

Onchain Data

  • XRP is displaying bearish signals despite a price increase amidst market growth.
  • Dogecoin’s price is expected to decline as the meme coin fails the bullish triangle pattern.
  • Notcoin, a viral Telegram game, has seen significant growth, becoming the 45th largest cryptocurrency.
  • Polkadot (DOT) has managed to stay above $7 after a bearish week, with a marginal recovery over the weekend.
  • Solana’s price has been declining since failing to close above the $190 mark in mid-May.

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