Headlines
Pantera Capital Partner Releases 6 Major Predictions for the Cryptocurrency Field in 2024
Pantera Capital partner Paul Veradettakit has released 6 major predictions for the cryptocurrency field in 2024, including:
- The revival of Bitcoin and "DeFi Summer 2.0";
- More tokenized social experiences;
- Increased integration of stablecoins, mirrored assets, and other TradFi-DeFi "bridges";
- Modular narratives and the integration of ZK narratives;
- More computationally intensive applications on the blockchain, such as AI and DePIN;
- Integration of public chains and the "central radiation" model of application chains.
Industry News
MIIT: Will Formulate a Web3.0 Development Strategy Document that Fits China's National Conditions
The Ministry of Industry and Information Technology (MIIT) stated in response to Proposal No. 02969 of the First Session of the Fourteenth National Committee of the Chinese People's Political Consultative Conference that in the next step, MIIT will strengthen coordination and interaction with relevant departments to promote technological innovation and high-quality development of the Web3.0 industry. It will improve top-level design, strengthen investigation and research on Web3.0, formulate a Web3.0 development strategy document that fits China's national conditions, clarify the development path, technological focus, and application models of Web3.0, and handle the relationship between inheritance and innovation, development and security, government and market, supply and demand. It will focus on key areas such as government affairs and industry, encourage the development of new business models such as NFTs and distributed applications (DApps), and accelerate the innovative application and digital ecosystem construction of Web3.0.
Ripple's Irish Subsidiary Listed as Registered Virtual Asset Service Provider
Ripple announced that its Irish subsidiary, Ripple Markets Ireland Limited (Ripple Markets), has been added to the Central Bank of Ireland's (CBI) list of registered virtual asset service providers (VASPs), allowing Ripple to provide specific digital asset services in Ireland.
Data from Kaiko shows that the trading volume of Korean exchanges (including Bithumb, Coinone, Korbit, Upbit) hit a record high since early December, driven by the trading of shitcoins and zero-fee activities.
Investment and Financing Events
Web3 Tax Service Company Tres Finance Completes $11 Million Series A Financing
Web3 tax startup Tres Finance has completed an $11 million Series A financing, led by Lightspeed's new fund Faction, with participation from New Form, Boldstart Ventures, Cyber Fund, and Ambush Capital. This round of financing brings Tres's total financing amount to $18.6 million.
Tres provides accounting, auditing, reporting, and other financial services for Web3 companies. Tres raised $7.6 million in seed funding in September 2022, led by Boldstart Ventures and Alchemy Ventures.
Coded Fi Ltd Acquires Cross-Chain Liquidity Protocol Chainge Finance at a Valuation of $47 Million
According to official sources, Coded Fi Ltd has successfully acquired the cross-chain liquidity protocol Chainge Finance, with the transaction valuing Chainge at $47 million. Following the completion of this acquisition, Chainge Finance founder Dejun Qian will join the board of Coded Fi Ltd along with Najam Kidway and Mike Lempres.
Web3 Infrastructure Web3mine Completes $6 Million Seed Round Financing, Led by 1kx
Web3 staking protocol Web3mine, which supports open access storage and computing networks, has completed a $6 million seed round financing, led by 1kx, with participation from Protocol Labs, PL Ventures, and others. Web3mine aims to enable the world to collectively coordinate capital and hardware to build open, high-performance, and resilient computing infrastructure for everyone.
Project News
Ordinals Inscriptions' Cumulative Fee Income Exceeds 4,500 BTC, Worth Over $190 Million
Dune data shows that the cumulative fee income generated by the Bitcoin NFT protocol Ordinals Inscriptions has reached 4,514.8236 BTC, equivalent to approximately $192,694,883. The total number of inscriptions minted currently stands at 49,798,796.
Frame Token Airdrop Open for Claim, Mainnet to Launch in January Next Year
The official Ethereum L2 network Frame announced that users who have traded NFTs on the Ethereum network and paid royalties in the past two years are eligible to claim the initial airdrop of FRAME tokens, which is now open for claim.
The Frame mainnet and token will be launched simultaneously on January 31, 2024, and FRAME tokens will not be transferable until the next phase. In addition, Frame announced the completion of its initial financing, with lead investments from Electric Capital and community members, including dingaling, 9GAG CEO Ray Chan, and Zagabond, founder of the Azuki project.
Bitmap Land Value Exceeds the Sum of The Sandbox and Otherdeed Land Values
Leonidas, a developer at Ord.io, stated on the X platform that the NFT land value of the Bitcoin ecosystem metaverse project Bitmap has surpassed the combined value of LAND in The Sandbox and virtual land in Otherdeed.
The INJS project of the Inscriptions announced on the X platform that the first batch of refunds before block height 54,889,682 has been completed, and it will accept the second batch of refunds before the designated block height, ranging from block height 54,889,683 to block height 54,952,165. Refunds will cease to be accepted after the specified height is reached.
Ledger: Decides Not to Allow Users to Use Ledger Devices for Blind Signing Before June 2024
Ledger announced on the X platform that in the recent large-scale security incident, approximately $600,000 in assets were affected, which were stolen from users who blind signed on EVM DApps. Ledger will attempt to help affected individuals (including non-Ledger users) recover their funds by the end of February 2024 and has committed to collaborating with the DApp ecosystem to allow Clear Signing. Currently, it has decided not to allow the use of Ledger devices for blind signing until June 2024.
The Injective Inscriptions project INJS announced on social media that minting for the project will restart at 22:00 Beijing time tomorrow and valid block information will be announced 1 hour before the restart.
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