Mind The Block | April Week 2

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

Mind The Block Headlines This Week

• Arbitrum’s Major ARB Token Release
• Oasys Forms Tech Alliance with LayerZero
• Hong Kong Approves Bitcoin, Ether ETFs
• Berachain Secures $100M in Series B
• Composable Links Solana with IBC Protocol
• Zypher Games, B2 Network Explore Bitcoin Gaming
• SOL Price: Doubts Over $260 High
• Crypto Airdrops: Mechanics and Discovery

News

• Arbitrum has released 92.65 million ARB tokens in a “Cliff Unlock” on April 16, 2024.
• BIT Exchange has launched the EigenLayer Points Program to enhance user interactions within the EigenLayer ecosystem.
• EOS has introduced Wrapped RAM (WRAM), a significant step in tokenizing real-world assets (RWAs) within its ecosystem.
• BlackRock’s Bitcoin ETF (IBIT) has seen two-day inflows reach $184.5 million, making it the only U.S.
• CrossSpace, a SocialFi platform, has announced its integration with BNB Chain, enhancing on-chain influencer networks.
• RNDR token investors are anticipating the unlocking of nearly $7.14 million worth of tokens in the next seven days.
• Ethereum has been the leading victim of blockchain hacks in 2024, with 33 reported incidents.
• Cosmos Hub has approved signaling proposal 897, introducing ICS 2.0: Partial Set Security (PSS) to the Cosmos ecosystem.
• WOO has established an innovation hub to strengthen its presence in the Bitcoin ecosystem and expand into high-growth sectors.

Extras By Mind The Block

• GMX introduces Single-Token Pools on its V2 platform, leveraging the opBNB chain on Arbitrum.
• Collector Crypt has partnered with SNS Bonfida to offer a whitelist giveaway for Pokemon SNS domains.
• Manta Network has been included in Cyberport, Hong Kong’s leading digital technology incubator.
• Injective has unveiled INJ 3.0, a radical tokenomics overhaul aiming to make INJ the most deflationary asset in the crypto space.
• Ankr and Brevis coChain have partnered to revolutionize Web3 networks with zero-knowledge technology.
• The Bank for International Settlements (BIS) has proposed a global ‘Finternet‘ using unified ledger technology.
• Hashkey Global has launched 21 new tokens on its spot market, including popular cryptocurrencies like BTC, ETH, and USDC.

Major Companies Making Moves

• Polygon Labs has received ISO 27001 certification, confirming its ISMS complies with global standards.
• Oasys has entered into a long-term tech partnership with LayerZero Labs.
• Tether has signed a Memorandum of Understanding (MoU) with Fuze to enhance crypto education in Turkey and the Middle East.
• HTX Ventures has invested in COREx, a decentralized exchange (DEX) that uses CoreDAO, a blockchain built on the Geth codebase.
• Cardano has released Hydra v.0.16.0, which supports cardano-node v.8.9.0 and the Conway block format.
• Alchemy Pay has introduced Radix on its fiat On-Ramp platform.

Government, SEC & Regulation

• The UK is set to issue new legislation for stablecoins, crypto staking, exchange, and custody by June or July this year.
• Filecoin Foundation has launched a legal inquiry into the reported detention of STFIL team members in China.
• The French Financial Market Authority (AMF) proposes a digital sandbox to regulate the growing security token industry.
• South Korea’s crypto tax crackdown moves to Yeongcheon, focusing on unpaid tax bills.
• Hong Kong regulators approved the launch of spot bitcoin and ether exchange-traded funds (ETFs).
• UAE recorded $25b in crypto transactions in 2022 and is now adopting accommodative regulatory policies to encourage further investment.
• Stablecoin regulation is more likely this year following key discussions among lawmakers.
• Worldcoin is facing legal action in Buenos Aires for violating National Consumer Defense Law and violating rights guaranteed by the law.
• Coinbase’s Chief Legal Officer, Paul Grewal, has defended Tornado Cash against the US Treasury’s proposed sanctions on open-source software.

• Stablecoin issuers Tether and Circle grapple with the global patchwork of stablecoin rules.
• VALR, a South African crypto exchange, has obtained regulatory approval from the Financial Sector Conduct Authority (FSCA).

Raises & Major Investments rounds

• Berachain has raised $100 million in Series B funding, co-led by Framework Ventures and Brevan Howard Digital.
• Auradine, a provider of Bitcoin mining and AI hardware, raised $80 million in its Series B funding round ahead of Bitcoin halving.
• Puffer, a liquid restaking protocol, has raised $18 million in a Series A funding round led by Brevan Howard Digital and Electric Capital.
• Kiki World has raised $7M from a16z, allowing customers to co-create products and own the company using web3 technology.
• Uplink, a Decentralized Physical Infrastructure Network (DePIN) platform, has raised $10 million, led by Framework Ventures.

Trends& Narrative

• Dinari Global has successfully integrated Chainlink CCIP across the Arbitrum One and Ethereum mainnets.
• Composable Foundation has launched the first IBC connection between Solana and the Inter-Blockchain Communication Protocol.
• AI tokens are the currency for transactions within AI-powered platforms, enabling users to pay for services, access data, and engage in platform activities.
• Bitcoin mining CEOs remain optimistic about the upcoming halving event.

NFTs, Gaming, Metaverse

• PayPal is removing protections for NFTs with a transaction amount of $10,000 or above from its Seller Protection Program starting May 20.
• Mysten Labs is refocusing on gaming with a strategic partnership with US-based Gamma Interactive to bring a VR-based firstperson shooter called Macht to Sui.
• Zypher Games and B2 Network are partnering to explore on-chain games within the Bitcoin ecosystem.
• Yuga Labs has been directing ‘royalties’ to a deposit address associated with FTX US.
• Sky Mavis is set to launch Ragnarok: Monster World on its Ronin blockchain in Q3 2024.

• Decentraland has released its Q1 update, focusing on the desktop client.
• Inspect has partnered with MultiversX to enhance NFT exploration and insights.
• Taiwanese iCan Entertainment has entered the Web3 space, combining art, culture, and technology.
• Eternal Dragons, a web3 gaming platform, has announced its closure after nearly a year and a half since its first alpha.

Onchain Data

• SOL price forecast suggests Solana may not reach a $260 record high again, as it failed to recover above $150.
• Crypto prices are declining, with the Bitcoin Trend Indicator dropping into neutral.
• Avalanche (AVAX) price is experiencing a Death Cross, signaling a potential downward trend.
• Chainlink (LINK) price has validated a bearish pattern towards mid-March, but is now seeking to reclaim losses.

Educational Guides and Tips from Mind the Block

• What are crypto airdrops: how they work and where to find them.
• Bitcoin’s next halving event is set for five days, with more people discussing it than previous ones.
• Buying the dip in cryptocurrency trading involves buying digital assets at lower lows to cash out when prices return.
• A guide to DePIN Tokens and their potential growth.

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