Mind The Block: Your Weekly Dose of Web3 News and Insights
Mind The Block Headlines This Week
Table of Contents
- Bitcoin Hits $71,000 on Ether ETF Optimism
- Bitget Names Gracy Chen New CEO
- Crypto Startup Funding Reached $2.4 Billion
- Brazil to Finalize Crypto Regulations by 2024
- Re.al Launches Blockchain for Real-World Assets
- Gamestarter Launch GameChain on Avalanche
- Chainlink Price Climbs 30% to $17
- How to Create a Memecoin on Solana?
News
- Bitcoin has surpassed $71,000 for the first time in 38 days, driven by Ethereum ETF optimism.
- BNB Chain has launched a Trading Volume Incentive Program for traders and projects building on opBNB and BNB Smart Chain (BSC).
- Phantom has acquired Web3 specialist Bitski to streamline the onboarding process for users and developers.
- Zealy has announced a partnership with AirDAO and Udao to boost Web3 community growth using the work-2-earn model.
- OP3N is launching the first-ever Web3 Content Creator House in Lisbon, powered by Avalanche.
- Bybit COO Helen Liu is working to unite the crypto industry through her new Blockchain for Good Alliance project.
- Band Protocol has integrated with Injective’s inEVM Testnet, enhancing the platform’s security and reliability.
- Sui has unveiled its Mysticeti protocol, which promises to redefine transaction speeds and consensus efficiency.
Extras By Mind The Block
- Obol Network aims to fund sustainable Ethereum development by enabling people without capital to participate in the network.
- COTI Foundation has launched a new grant program to encourage developers to contribute to the privacy-centric Ethereum-based layer-2 network COTI V2.
- Telegram’s massive user base is driving cryptocurrency adoption, with viral games like Notcoin attracting over 30 million users.
- ChainGPT has partnered with Skale Network to accelerate AI projects on blockchain.
- India’s cryptocurrency market is thriving due to a tech-savvy population and growing interest in alternative investment options.
- Astar zkEVM has launched a product in partnership with Sequence to boost its ecosystem growth.
- Sei Foundation is planning a version 2 network upgrade to improve its utilization.
- Outer Edge Riyadh, founded by the Edge of Company, held its first regional event in Saudi Arabia, attracting over 700 attendees.
- Nimble Network has announced a partnership with Anome, an on-chain game ecosystem focusing on enhancing GameFi, NFTFI, and DeFi.
- Alchemy Pay has launched its Web3 Digital Bank, an online payment and banking solution designed to facilitate seamless fiat-to-crypto transactions.
- Neobank EQIFi has partnered with Wyoming-based MatterFi to improve on-chain security.
- Fordefi has secured crime and cyber threat insurance from German insurance company Munich Re.
- DTCC successfully completed its Smart NAV pilot, utilizing Chainlink’s technology to enhance its Mutual Fund Profile Service I.
- Zero1 Labs has partnered with Oasis to enhance Web3 and AI privacy.
Major Companies Making Moves
- Binance Web3 Wallet has introduced Yield Plus and Simple Yield as new earning methods.
- Trezor has added secure Ethereum staking to its cryptocurrency management application, Trezor Suite.
- Bitget has appointed Gracy Chen as its new CEO, taking over from Sandra Lou.
- UniSat and Alchemy Pay have partnered to integrate Alchemy Pay’s On-Ramp solution into its “Buy Crypto” portal.
- Microsoft has unveiled its Copilot+ PC, designed for AI, which indexes all displayed on screen, including emails, websites, and applications.
- Mastercard has selected five promising blockchain startups to participate in its Start Path program.
- OKX has partnered with Hidden Road Partners to enhance its institutional trading offerings.
Government, SEC & Regulation
- The US House of Representatives is set to vote on the Financial Innovation and Technology for the 21st Century (FIT21) bill.
- Hong Kong spot ether ETFs recorded no net flows on Monday, with total net assets of $41.14 million.
- New York Attorney General Letitia James has announced a $2 billion settlement with crypto lender Genesis to repay defrauded investors.
- UK government has secured a winding-up order against cryptocurrency advisory firm Amey Finance Academy Ltd.
- Brazil’s Central Bank (BC) plans to finalize crypto regulations by 2024, aiming to enhance transparency and protect investors.
- Indian Finance Minister Nirmala Sitharaman has emphasized the need for global consensus on cryptocurrency regulation.
- Venezuela’s government has announced a ban on Bitcoin mining and seized 11,000 application-specific integrated circuits.
- Nigeria’s Securities and Exchange Commission introduced a robust regulatory framework for virtual asset service providers.
- The SEC is leaning towards approving spot Ether ETFs, causing a surge in Ether’s value.

- House Democratic leaders, including Maxine Waters and David Scott, are set to vote on the House Republican crypto bill.
- Ghana’s Vice President, Mahamudu Bawumia, has announced plans to become the first African country to run on blockchain.
- Paraguay is pushing a bill that could lead to up to a decade in prison for illegal Bitcoin miners due to electricity theft.
Raises & Major Investments rounds
- Crypto startup funding reached $2.4 billion in the first three months of 2024.
- Shogun raised $6.9M in seed funding, aiming to accelerate DeFi adoption by providing a user-friendly platform.
- 5th Scape, a new VR cryptocurrency, has raised $6 million, gaining investor confidence.
- 62 blockchain projects have raised $474 million, with Sophon leading the charge with a $60 million node sale.
- ELFi Protocol secured $5 million in strategic financing, launching on the Arbitrum testnet.
- Farcaster, a blockchain-based social media startup, has secured $150 million in a fundraising round led by Paradigm.

Trends& Narrative
- Bitcoin Inc. CEO David Bailey discussed his company’s transformational pivot to Bitcoin during the Bitcoin Asia Conference.
- Ethereum co-founder Vitalik Buterin has criticized the development of artificial general intelligence (AGI) as “risky” amid ongoing leadership changes at OpenAI.
- Re.al has launched a blockchain platform for real-world assets, including properties and commodities.
- Hong Kong-based crypto custodian Hex Trust Group has issued USDX.
- The crypto industry is refocusing on its tech stack, according to Stellar Development Foundation CEO Denelle Dixon.
- Polkadot creator Gavin Wood believes proof of personhood, a mechanism that digitally verifies a person’s humanity, could be the key to blockchain’s mass adoption.
NFTs, Gaming, Metaverse
- Ubisoft and other major game studios are investing in Web3 gaming, with 29 of the world’s 40 biggest studios developing their own games in-house.
- Animoca Brands Japan and Quidd are releasing digital collectibles from the popular fantasy adventure manga series “Fairy Tail.”
- Gamestarter has partnered with Ava Labs to launch GameChain, an exclusive game on the Avalanche network.

- BRC-420 is unlocking the potential of Bitcoin NFTs by extending the capabilities of BRC-20.
- FANTAGOAL, a Web3 soccer fantasy game, has completed a $3 million financing round and announced its airdrop activity.
- The Sandbox and Bitkub Blockchain Technology have announced a partnership to expand the Southeast Asia metaverse hub.
- Eldarune and Immutable are partnering to redefine the gaming experience with four games, interoperable NFTs, and the $ELDA Token.
- South Korea-based telecom provider LG Uplus has unveiled a metaverse platform for Yonsei University.
- Citizen Conflict Alpha 5.0 is now available for public play and earn. The game features three game modes and a new 1v1 game type.

Onchain Data
- Uniswap (UNI) is expected to see a 40% rally amid market recovery, breaking the $8.35 resistance.
- Avalanche has experienced a 12% surge in value in 24 hours, reaching new highs and boosting investor interest.
- Solana’s price is currently trading at $180, below $200, after a 30% rise in the past week.
- Injective (INJ) token has regained momentum, rising over 30% this week and crossing the 20,50 and 200 day EMA mark.
- Chainlink’s price has risen by almost 30% in five days, reaching $17.
Educational Guides and Tips from Mind the Block
- How to create a memecoin on Solana? What is a memecoin?
- What cryptocurrency is the best for businesses? Understanding FTM to WBTC Conversion.
- Why account abstraction wallets could soon compete with MetaMask?
- What is the Ethereum (ETH) burn address? How the Ethereum burn address works.
- What is eToro? How to purchase Bitcoin on eToro?
See you in the next edition of the Mind The Block.
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