Mind The Block | September Week 3

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

Mind The Block Headlines This Week

• BIS and financial giants launch Project Agora for blockchain payments
• Telegram boosts Web3 with BNB mini apps for dApp interaction
• Kamala Harris endorses crypto growth in campaign
• Celestia raises $100M led by Bain Capital Crypto
• Chain abstraction unifies fragmented blockchain ecosystem
• Puma partners with UNKJD Soccer for Web3 content
• Sui (SUI) ends the week as top gainer, surging 49% to $1.62
• What is burning crypto? How does burning tokens work?

News

• BIS and financial giants collaborate on Project Agora to modernize cross-border payments using blockchain and tokenized assets.
• The Hemi Network team, led by Jeff Garzik, is developing a blockchain protocol called “tunneling” to “unite” Bitcoin and Ethereum.
• BNY Mellon and Ripple have partnered to revolutionize asset tokenization in finance.
• Bitget Wallet has partnered with Catizen, a top gaming project within the TON ecosystem, to support its token generation event and airdrop.
• BONK and Borussia Dortmund have partnered to enhance fan experiences through web3 technology, combining cryptocurrency with football.
• Tether (USDT) is nearing a $120 billion market cap, solidifying its dominance in the crypto space.
• Fuse Wallet introduces Fuse Pay, a virtual Visa card for stablecoins on Solana, enabling real-world spending without a bank account.
• The India Blockchain Summit 2024 is a significant event in India’s journey towards becoming a global hub for blockchain technology.
• Germany’s DZ Bank is partnering with Boerse Stuttgart Digital to provide its 700 cooperative bank customers with cryptocurrency trading services.
• Pyth Network has launched Oracle Integrity Staking to incentivize high-quality price feeds and enhance DeFi’s security.

Extras By Mind The Block

• HashPack Wallet has introduced v10.5.0, enhancing token management efficiency with unlimited auto-associate slots.
• CUDIS Wellness has partnered with Jupiter Exchange, a decentralized liquidity aggregator on Solana, to expand its wellness services.
• LO:TECH has launched a new Market Making Service (MMaaS) platform for token liquidity, offering transparency, control, and flexibility.
• ATLETA Network, with a growing user base of over 500,000, is launching a Grant Program to revolutionize DeFi, e-sports, and Web3 dApps.
• Franklin Templeton is building a money fund for regulated securities on Solana’s smart contract platform.
• Hamster Kombat faces a boycott threat due to an unfair airdrop allocation plan, with real users enraged.
• Former Monero developer Ricardo Spagni has launched Tari Universe, a cryptocurrency mining app that aims to make mining accessible to everyone.
• XRPKuwait has launched two new public hubs to enhance node synchronization and peering of the XRP Ledger.
• Lumia has launched a testnet and user quest program for its RWA Layer 2 technology.
• Qubetics is a Layer-1 blockchain platform that simplifies blockchain development, making it accessible to a wider audience.
• Blockchain Council announces media partnership with Blockchain Life 2024.
• Birb Nest and dYdX have partnered to empower crypto traders by combining their market analysis capabilities and educational resources.

Major Companies Making Moves

• Telegram has boosted Web3 adoption by introducing mini apps that allow users to manage BNB and interact with decentralized applications.
• Solana Mobile’s Seeker Web3 Phone, set for 2025, has secured over 140,000 pre-orders from 57 countries.
• BitGo launches USDS stablecoin, offering unique liquidity incentives backed by Treasury bills, overnight repos, and cash.
• 1inch has introduced Fusion+, an upgrade to its intent-based swap product, enabling secure, decentralized cross-chain swaps for Web3 users.
• DBS Bank plans to launch OTC crypto options trading and structured notes for institutional clients in Q4 2024.
• Bybit Web3, the Web3 arm of Bybit, participates in the World Series of Trading (WSOT) 2024, the world’s longest-running crypto trading competition.

Government, SEC & Regulation

• German authorities have shut down 47 cryptocurrency exchanges for allegedly facilitating money laundering operations for cybercriminals.
• Canada’s central bank has announced that it will shift its focus from a retail CBDC to broader payments system research and policy development.
• The UAE is leading the global CBDC revolution with its Digital Dirham and cross-border transactions.
• Kamala Harris broke her silence on crypto during her US presidential campaign, promoting the growth of the cryptocurrency industry.
• China is considering a revised anti-money laundering (AML) law to monitor better and analyze fintech money laundering risks.
• The International Monetary Fund (IMF) has identified a “chicken-and-egg” problem in adopting Central Bank Digital Currencies.

• Nigeria’s Lagos State government is partnering with tech firms to deploy a blockchain-powered land registry system over 18 months.
• South Korean lawmakers claim their crypto wallets are “crypto dust,” claiming they distance themselves from token ownership due to ongoing crypto-related scandals.
• Australia mandates financial services licenses for cryptocurrency firms under new ASIC regulations.
• SiBAN and the SEC are collaborating to combat corruption in Nigeria’s blockchain industry.
• The Federal Reserve has ordered United Texas Bank to cease all crypto services due to concerns about its risk management and compliance issues.
• Swiss digital asset bank Sygnum has secured a crypto license in Liechtenstein.

Raises & Major Investments rounds

• Borderless Capital has launched its third DePIN-focused fund, a $100 million investment backed by Peaq, Solana Foundation, and Jump Crypto.
• PayPal has invested in Chaos Labs, a blockchain risk management startup, using its stablecoin.
• The Open Network raised $30M, and Drift Protocol brought in $25M in crypto VC funding.
• Helius raised $21.75M in a Series B funding round led by HAUN Ventures and Founders Fund.
• Celestia raised $100M in a funding round led by Bain Capital Crypto, with participation from 1kx, Robot Ventures, and Placeholder.

Trends & Narrative

• Chain abstraction is revolutionizing blockchain innovation by simplifying and unifying the fragmented ecosystem of various blockchains
• nChain has successfully implemented verifiable AI on Bitcoin, verifying the model’s output using a blockchain.
• Ariel Shapira’s opinion on blockchain harmony encourages TradFi participation despite traditional finance’s initial dismissive reactions to Bitcoin.
• Crypto custody solutions, despite significant investment and technical advancements, remain anchored in the past.
• Joe Lubin discusses the evolution of blockchain technology, the expansion of the Ethereum ecosystem, Consensys’ foundational infrastructure, Layer 2 scaling, and regulatory challenges.

• Blockchain recovery solutions are revolutionizing digital asset recovery, offering a glimmer of hope for investors.

NFTs, Gaming, Metaverse

• Puma has partnered with UNKJD Soccer, a Web3 mobile game, to leverage Puma-licensed content.
• STEPN GO and Adidas have partnered to launch the STEPN GO x Adidas Genesis Sneaker, an exclusive NFT collection.
• Flappy Bird, a popular mobile game, has returned to being a Telegram crypto game.
• Animoca Brands, The Sandbox, and Smobler have launched a virtual Universal Peace Sanctuary in the Metaverse.
• Joyride Games has launched the Super Champs L3 Chain on Base, a cutting-edge gaming-optimized L3 that rolls up to the Base blockchain from Coinbase.
• Yeeha! Games have partnered with SOMSOC GALLERY to create a co-branded “HOUSEBOY” designer toy collection.
• UOMI Network introduces AI economic agents on blockchain with NFTs.
• Line Next has launched a web3 mini-game platform for its 2 billion chat users, accessible through Line’s chat platform.

Onchain Data

• MKR price is nearing a four-month lower trajectory, indicating a bearish trend.
• Major Solana (SOL) price target has been revealed, with analysts predicting a bullish move if short-term requirements are met.
• The Bittensor price is booming, increasing by 20% in the last 24 hours and 85% over the week after Kamala Harris’s speech.
• Dogecoin (DOGE) struggles to break the $0.11 resistance despite market recovery and fewer sell-offs.
• SUI surged 49% in the top 25 tokens, securing the weekly top gainer spot.

Educational Guides and Tips from Mind the Block

• What is burning crypto? How does burning tokens work?
• BitHide is a secure, non-custodial crypto wallet designed for businesses to manage their crypto assets safely.
• Understanding layer 2 blockchains: Enhancing WEB3 scalability and efficiency.
• What is Dogwifhat (WIF)? How does Dogwifhat (WIF) work?
• What are crypto ATMs, and how do they work? How to use a crypto ATM?

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