Mind The Block | November Week 3

Ramjith S013 mins

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

Mind The Block Headlines This Week

  • Crypto.com acquires Fintek for equities trading
  • BlackRock gets Abu Dhabi commercial license
  • Russia proposes 15% crypto earnings tax
  • Noble raises $15 Million led by Paradigm
  • Real estate tokenization boosts liquidity, transparency
  • Immutable, YGG partner with $1M player rewards
  • Bittensor (TAO) nears support, eyes reversal
  • How does Revolut staking work?

News 

  • Crypto.com acquires Australian broker Fintek Securities to expand financial services, offering equities trading on Australian and global stock exchanges.
  • SBI Digital Markets, UBS Asset Management, and Chainlink have completed a pilot program for an automated tokenized fund solution.
  • Mercado Bitcoin (MB), Latin America’s largest digital asset platform, has launched MBRL stablecoin on the TRON blockchain.
  • Based on the Grail protocol, the Cardano-Bitcoin bridge may be the first step towards providing decentralized finance applications secured by Bitcoin.
  • Monad, an Ethereum-compatible Layer 1, has launched its testnet, boasting high performance and massive funding.
  • VeBetterDAO has introduced an endorsement mechanism to empower Economic and X node holders in platform decision-making.
  • Stabull Finance and Holochain have announced a partnership to decentralize a global Fx & Commodities Swap.
  • Morpheus, a decentralized AI project, is now live on Mainnet. It aims to mitigate the negative effects of AI, including centralization, censorship, and data monopolies.
  • Japan’s DMM Crypto is discontinuing its Seamoon Protocol, a Web3 gaming and content site powered by the SMP token.

Extras By Mind The Block

  • Monex Group has launched Monex Web3 ID, a blockchain-based digital identity designed to streamline interactions within the Web3 ecosystem.
  • Somnia has unveiled its public Devnet, a high-performance blockchain capable of processing over 400,000 transactions per second (TPS) with near-instant finality.
  • CoinEasy has launched the EASYWORLD Telegram dApp, a new era of blockchain rewards, in partnership with Footprint Analytics.
  • Base celebrates 1 billion transactions in record time, becoming the fastest-growing Ethereum Layer-2 network.
  • WeFi successfully conducted its Token Generation Event for its native $WFI token, launched on Bitmart on November 18th.
  • Metavisio and IO FinNet are partnering to launch the world’s first Web3 Ready computers.
  • IOTA Foundation announces an “IOTA Rebased” network upgrade to enhance scalability and decentralization.
  • ABGA has partnered with Animoca Brands to support the upcoming Kaia Demo Day, hosted by Kaia and DOSI_official.

Major Companies Making Moves 

  • BlackRock has received a commercial license to operate in Abu Dhabi following Saudi approval.
  • Coinbase has launched the Coinbase 50 Index, a benchmark for tracking the top fifty crypto assets.
  • Tether plans to invest in Dutch fintech Quantoz to launch two new stablecoins, EURQ and USDQ.
  • Uniswap Foundation is collaborating with various Web3 and DeFi organizations.
  • Bitunix has introduced Hedge Mode, a new feature that allows users to hold long and short positions simultaneously on the same asset.
  • Bybit, the second largest cryptocurrency exchange, offers Black Friday perks for its Card clients, including bonuses and cashback.

Government, SEC & Regulation

  • The European Banking Authority (EBA) has issued guidelines for payment service providers (PSPs) and crypto-asset service providers (CASPs).
  • Russia proposes a 15% tax on crypto earnings, reshaping regulations for miners and transactions.
  • Donald Trump and Elon Musk’s D.O.G.E are reportedly studying a federal voting system on Blockchain.
  • Swiss FINMA has identified digital assets as a high-risk area for money laundering, highlighting their vulnerabilities and the need for robust regulatory oversight to mitigate these risks.
  • Netherlands-based Quantoz Payments introduces Ethereum-based stablecoins EURQ and USDQ, aligning with European regulatory standards.
  • Former Polish Minister Sławomir Mentzen proposes a national crypto reserve and predictable cryptocurrency legislation for Poland.
  • South Korean city of Paju has warned 17 residents to pay their taxes or face forcible liquidation of their crypto holdings.
  • RBA Governor Michele Bullock criticized Bitcoin and other digital assets at the Australian Securities and Investments Commission (ASIC) forum.
  • BIT Mining will pay the US Department of Justice a $10 million penalty for bribery allegations made by the SEC.
  • Dagestan’s government chief, Sergey Melikov, has requested Moscow to allow the ban of crypto mining under newly introduced rules.
  • Nepal’s Financial Intelligence Unit (FIU) has raised concerns about the increasing misuse of cryptocurrencies for money laundering and cyber-related fraud.

Raises & Major Investments rounds

  • Wyden raised $16.90M in a Series B funding round led by Truffle Capital, with participation from PostFinance and Sygnum.
  • Noble raised $15M in a Series A funding round led by Paradigm, with participation from Polychain Capital and Foresight Ventures.
  • EVM-compatible Bitcoin Layer 2 network based on the Internet Computer protocol Bitfinity raised $12M in a funding round from Polychain Capital.

Trends & Narrative 

  • Real estate tokenization is a blockchain-based approach to enhancing liquidity and transparency in the global real estate market.
  • Blockchain technology is revolutionizing peer-to-peer lending by providing security, transparency, and a decentralized ledger for transactions.
  • UNISOT is introducing a product to help companies comply with the European Union’s new “Digital Product Passport” regulations.
  • Lyn Alden, a renowned finance and cryptocurrency expert, highlights Bitcoin’s potential as a hedge in uncertain economic times.
  • Mass crypto adoption, with over 560 million people participating this year, underscores the need for increased transparency and education in the sector.
  • Vitalik Buterin clarifies ‘based rollup’ concept, stating Layer 1 blockchain acts as a sequencer without interoperability standards or Ethereum VM compatibility.

NFTs, Gaming, Metaverse

  • Gameta and Robin Ecosystem have partnered to advance Web3 adoption by merging payment technologies with gaming advancements.
  • Immutable and Yield Guild Games (YGG) have announced a strategic partnership, committing $1 million to player rewards through questing incentives.
  • McDonald’s and Doodles have partnered to create a “GM Spread Joy” campaign for the holiday season, featuring custom cups featuring the Ethereum NFT collection.
  • Big Time Studios, creator of the Open Loot platform, has announced the launch of its first utility token, $OL.
  • Artnames is a generative art project transforming users’ names into personalized NFTs.
  • LAOS Network partners with web3 platform Sequence to integrate free-to-play game mechanics in blockchain games.
  • LaunchPunks introduces Ghosty Cash, a supernatural utility aiming to challenge traditional DeFi models and enhance user autonomy.

Onchain Data 

GOAT Price Analysis.

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