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Hey, crypto enthusiasts! 🌟
Welcome to Crypto Weekly Digest, where we break down the biggest news shaking up blockchain and tech. From bold moves in tokenized finance to lightning-fast growth stories, it’s all here. Let’s dive in! 💡
UBS just took a bold step by launching a tokenized fund on Ethereum, blending traditional finance (TradFi) with the power of blockchain! 🚀 Known as "uMINT," this fund aims to attract investors looking to dip their toes into the world of tokenized assets.
UBS promises a secure, risk-managed experience with all the perks of the blockchain. Crypto fans are cheering, saying it’s only a matter of time before tokenized assets go mainstream. 💼 Is this the dawn of a new financial era?
Robinhood, Kraken, and Paxos are teaming up to launch the Global Dollar Network, designed to supercharge the use of USD-backed stablecoins worldwide! This new network, led by Paxos, introduces the USDG stablecoin, which is fully backed by US dollars and safely managed through Singapore’s DBS Bank.
The goal? To make stablecoins more accessible across platforms and reduce reliance on big players like Tether and Circle. 🌐 It’s a big step toward a more competitive and regulated stablecoin market!
In just three days, Bitget Wallet Lite, a self-custodial crypto wallet on Telegram, hit a massive milestone—6 million users! 🎉 Integrated right into Telegram, this wallet lets users buy, store, and send crypto with a tap.
Strategic campaigns like early rewards and referrals fueled the growth, helping Bitget Wallet reach half of its total user base almost instantly. Amid the excitement, Bitget also reminds users to look for Telegram’s blue verification tag to steer clear of scams! 🔒
Visa and Coinbase just made crypto buying faster than ever for eligible Visa debit card users! Now, customers in the U.S. and EU can instantly deposit, withdraw, and buy crypto on Coinbase in real time, day or night. 🌙💸
This move gives crypto fans more freedom to act on trading opportunities right when they want. And with regulatory frameworks like the EU’s MiCA paving the way, Visa and Coinbase seem ready to bring crypto closer to everyday transactions.
Franklin Templeton Ventures into Tokenized Territory on Base 🏦
Franklin Templeton is spicing up the investment world by launching its tokenized money fund, the Franklin OnChain US Government Money Fund (FOBXX), on Base, Coinbase’s layer-2 network. 🌐 This move marks the first time a money fund has stepped onto Base, adding to its blockchain repertoire that already includes Stellar, Polygon, and Arbitrum.
The fund, which boasts about $435 million in assets and an annualized return of 4.7%, offers investors low-risk yields through liquid assets like Treasury bills. With Base proving itself as a legitimate tool for financial records, Franklin Templeton is solidifying its lead in the tokenized real-world asset (RWA) game. 🏅✨
Glow, an Ethereum-based project, just secured $30 million in funding to supercharge its decentralized solar farms in India, aiming to offset the energy use of 34,000 households! ⚡🏠
Backed by major players like Framework Ventures and Union Square Ventures, Glow’s solar network rewards participants with tokens for their energy contributions. This green initiative not only cuts down on CO2 emissions but also provides a sustainable income stream for contributors. 🌍 With DePIN (Decentralized Physical Infrastructure Networks) on the rise, Glow is leading the way in profitable, community-powered clean energy!
In a move to make 2025 the year of DeFi on The Open Network (TON), TON has partnered with Curve Finance to find DeFi trailblazers ready to lead. 🏆 Through a high-stakes competition, DeFi teams developed stable asset swaps using Curve’s advanced tech, with winners Torch Finance and Crouton Finance bagging $150,000 each, plus liquidity and incentives to supercharge their pools. 🌊 With cross-chain bridges and $500,000 in incentives on the horizon, TON and Curve are setting up a robust, connected DeFi ecosystem—primed for big things!
Since we’re already talking about DeFi, let’s dive into the latest from Internet Computer (ICP)! 🚀 Its Chain Fusion protocol usage has skyrocketed by an incredible 1,230% this year! 🌊 With Chain Fusion, Bitcoin-native apps like Rainbow Protocol and Bitfinity can now deploy smart contracts directly on the Bitcoin network—no bridges needed.
This surge underscores ICP’s unique take on decentralization, positioning it as an appealing alternative to traditional cloud providers. 📈 And with upcoming plans to integrate with Solana, ICP is gearing up to be a major force in the booming DeFi world! 🌐💥
Deutsche Telekom is diving into Bitcoin mining using renewable energy that would otherwise go to waste! 💡 Their pilot project, aptly named “Digital Monetary Photosynthesis,” will convert surplus wind and solar power into Bitcoin, while helping stabilize Germany’s energy grid.
This unique approach, set up in Backnang, Germany, leverages Bitcoin mining’s potential to regulate energy fluctuations, turning extra energy into digital value. 🌍⚡ With financial giant Bankhaus Metzler also on board, this project showcases how Bitcoin mining can blend tech and sustainability for the future.
Singapore’s financial regulator, the Monetary Authority of Singapore (MAS), is ramping up its asset tokenization efforts with new frameworks to push the technology towards commercial use. 🏦✨ After conducting over 15 successful trials with 40+ financial giants across seven jurisdictions, MAS realized scaling was the next big challenge. To solve this, they’re building supporting infrastructure and creating standardized guidelines, like the Guardian Fixed Income Framework, to make tokenization mainstream. 🚀💰
The MAS’s Global Layer One, launched in 2023 and developed with industry heavyweights like BNY Mellon, Citi, JPMorgan, MUFG, and Societe Generale-FORGE, is set to expand in the coming year. Euroclear and HSBC will also join this initiative as it refines its principles and ecosystem. With initiatives like Project Guardian and Project Orchid in full swing, Singapore is positioning itself as a leader in the tokenized financial world! 🌐✨
Michigan’s state pension fund is going all in on crypto, now adding Ether ETFs to its portfolio alongside its Bitcoin ETF holdings. 📈💥 A recent SEC filing revealed the fund holds 460,000 shares of both the Grayscale Ethereum Trust and its Mini Trust, boosting its total crypto investment value to around $18 million.
This move follows a year where government-backed pension funds worldwide, including in South Korea and Florida, are dipping their toes—or jumping right in—into digital assets. 💸 Looks like retirement planning just got a whole lot more futuristic!
Web3 startups are on fire this year, pulling in a whopping $5.4 billion in venture capital through the first three quarters of 2024, according to Crunchbase’s Web3 tracker. 🔥 The third quarter alone brought in $1.4 billion, showcasing a major surge in funding, especially for projects at the intersection of blockchain and AI. October's standout funding rounds featured Glow, which secured $30 million to boost its decentralized solar grid, and Nillion Network with $25 million aimed at enhancing its decentralized privacy platform.
Investors are positioning themselves for an even stronger 2025. Gate Ventures and Boon Ventures collaborated with Movement Labs to launch a $20-million fund dedicated to nurturing Web3 startups. Meanwhile, Dragonfly Capital is preparing a significant $500-million raise for its fourth crypto fund. Other major moves include Binance Labs investing in Moonwalk Fitness, a gamified app that motivates users with crypto rewards for daily step goals. Craftt gained $2 million in seed funding led by Superscrypt and DCG to provide decentralized workforce benefits for freelancers and creators.
Borderless.xyz secured $3 million in pre-seed funding from Amity Ventures to develop a stablecoin payment network connecting over 50 countries. Vixichain drew in $7 million to bridge traditional finance with blockchain, focusing on compliance. AppWorks Ventures and Wintermute Ventures, alongside Consensys’ Joe Lubin, supported Karpatkey with $7 million to enhance its onchain treasury management services for DAOs and financial institutions. Additionally, CMT Digital led a $2.5-million pre-seed for Axal, a Web3 automation startup creating tools akin to a “ChatGPT for tasks.” Variational, aiming to simplify crypto derivatives trading, raised $10.3 million from Bain Capital Crypto, Sequoia Capital, Coinbase Ventures, and Dragonfly Capital.
With the Web3 investment landscape heating up, 2024 is proving to be a banner year, and the momentum looks set to continue into 2025. 🌐💡
Solana-based DApps are enjoying a resurgence, with institutional investments skyrocketing by 54% to $173 million in Q3 2024, as per Messari. 🏦 This marks the highest level of investment since mid-2022, with standout funding like Drift's $25 million Series B and Multicoin's $12 million backing for Fuse, spotlighting the appeal of Energy DePIN projects. As Solana’s daily fee payers hit 1.9 million (up 109%), major players like Franklin Templeton and Societe Generale are eyeing the network for future projects, signaling Solana's bright horizon. 🌞
Meanwhile, VanEck is doubling down on Web3 gaming with its investment in Gunzilla, the studio behind the blockchain game Off The Grid. 💻 Following their earlier stake in Parallel, VanEck's latest move reinforces its commitment to Web3 gaming. Off The Grid, hosted on Avalanche’s GUNZ subnet, offers a unique marketplace for trading GUN tokens, drawing inspiration from Steam’s model. With sci-fi author Richard Morgan and director Neill Blomkamp leading creative efforts, Gunzilla is set to blend cutting-edge storytelling with blockchain innovation. 🌐🕹️ The fusion of high-profile investments in both blockchain infrastructure and gaming suggests a promising future for the digital asset space.
Standard Chartered’s crypto custody venture, Zodia, is looking to raise $50 million to expand globally and launch new products. 🚀 Backed by heavyweight financial firms, Zodia is tapping into a broader pool of investors, including those with a focus on payments and tokenization.
Already present in major financial hubs like London, Singapore, and Tokyo, Zodia is riding the wave of rising institutional interest in crypto custody services. ✨ With past backing from SBI Holdings, National Australia Bank, and Northern Trust, this funding push is set to strengthen Zodia’s market position and fuel its next phase of growth.
Biconomy is making waves by acquiring Klaster to create a Modular Execution Environment (MEE), simplifying life for blockchain developers and users alike. 🤖 This new MEE will streamline complex operations into single, efficient actions without needing to write intricate smart contracts.
With Klaster’s chain abstraction expertise paired with Biconomy’s account abstraction tech, developers can tackle cross-chain challenges with ease, enhancing security and scalability. 💡🔗 Co-founder Ahmed Al-Balaghi summed it up perfectly: this is a tech marriage where the whole is greater than the sum of its parts. 🌐💪 Say goodbye to blockchain headaches!
Big news from Down Under! Kraken, the well-known crypto exchange, has splashed into Australia's financial waters by launching a licensed brokerage service aimed at wholesale investors. 🏦💥 This move means that institutional traders can now access crypto-based derivatives—financial products tied to cryptocurrency prices without having to actually own the assets.
The service, packed with multi-collateral support and risk management tools, is available through Kraken Pro for those who meet the eligibility. Just a friendly reminder, Kraken also pointed out that some derivatives could be riskier than riding a kangaroo 🦘—losses might go beyond what you first put in! Stay savvy, mates!
Music powerhouses like Imogen Heap, Deadmau5, and Disclosure are diving into the Web3 world with KOR Protocol, aiming to shake up the music industry and put more dollars in artists’ pockets. 💰✨
With blockchain as their new best friend, they’re challenging streaming giants by creating a decentralized platform where artists can earn fairly, engage directly with fans, and manage their music rights transparently. Say goodbye to unfair payouts and hello to a world where musicians hold the baton—and the profits! 🚀
Hold onto your digital wallets! November is set to unleash $2.68 billion worth of crypto tokens as major blockchain projects wrap up their vesting periods. 🗓️
Notable players like Memecoin, Aptos, Arbitrum, Avalanche, and Optimism are in the spotlight, preparing for their big releases. This means more than $900 million will be unlocked cliff-style, with another $1.7 billion trickling out gradually. While these unlocks can boost market activity, they also come with a twist: more tokens could mean price pressure and potential roller-coaster market moves. 🎢🔍
Got some BTC or ETH burning a hole in your digital wallet? Sheetz, the beloved convenience store chain, has expanded its partnership with Flexa, now accepting crypto payments at over 750 locations across the U.S. 🛒
This means you can grab snacks or fill up your tank using Bitcoin, Ether, stablecoins, and more. With customers craving more digital payment options, Sheetz is stepping up to fuel the trend, making it even easier to pay with crypto and stay on the cutting edge of convenience. 🌟
SafePal is turning up the heat in the Telegram crypto scene with its new Mini Wallet App, giving 950 million Telegram users access to crypto-friendly “Swiss bank accounts.” 🇨🇭 This wallet isn’t just about storing coins; it’s equipped with a digital Visa card for seamless transactions and emphasizes a mix of centralized and decentralized finance (CeDeFi).
Users will need to pass KYC checks to unlock this Swiss-style experience, managed by fintech partner Fiat24. With support for multiple blockchains and plans for a digital Mastercard, SafePal is aiming to redefine convenient, compliant crypto banking. ✨
Forget the costly, bureaucratic ID systems of the past! Zero-knowledge (ZK) proofs are stepping in as a more affordable and privacy-friendly solution. 🚀 Leo Fan, co-founder of Cysic, explains that while ZK-proofs were once pricey, recent advancements have slashed costs and cut processing time down to just 10 seconds. 🕒
By maximizing privacy and reducing expenses, ZK-proofs are gaining traction worldwide—from Argentina to Malaysia—as governments explore this tech to give people control over their personal data without breaking the bank. 🔐
No more app-hunting to pay with digital cash! Huawei has integrated China’s digital yuan right into its latest operating system, HarmonyOS NEXT, making life easier for up to 1 billion smartphone users. 🤖 This seamless setup means users can pay directly with the CBDC without needing a separate app, while Huawei strengthens its position as a global tech powerhouse.
The People’s Bank of China is getting a tech upgrade too, with boosted security and monitoring capabilities thanks to this integration. Looks like digital yuan is spreading faster than Beijing’s latest food trend! 🥟
Get ready for smoother trades! XYO, known for its decentralized physical infrastructure network (DePIN), has made the leap from Ethereum to Solana, lured by Solana’s lightning-fast speeds, low costs, and solid scalability. 📈
Now, XYO tokens are tradable on Solana-native DEXs like Jupiter and Raydium, making it easy for SOL and USDC holders to swap into XYO and dive into its data ecosystem. With this move, XYO aims to make its token even more accessible and cross-chain friendly. 💱🌐
TON is making big waves in the crypto sea! First up, Tether is jazzing up the stablecoin scene by launching a dirham-pegged coin on TON, announced at Dubai's TON Gateway event. 💸 Partnering with UAE’s Phoenix Group and Green Acorn Investments, this move ensures each token is backed by solid UAE-based reserves, boosting trust and seamless use for TON’s 7.6 million USDT wallets. Talk about putting the "dirham" in digital! 🏃♂️✨
Meanwhile, TON Foundation is going full throttle on decentralization with its new Society DAO, a governance model aimed at fair capital access and reducing centralization risks. 🌐🤝
Four founding members, including Wallet in Telegram, are leading the charge to give the community a say in decision-making and resource allocation. With the added perk of self-custody options via TON Space, Telegram users can enjoy the “be your own bank” experience, balancing flexibility with security. 🔒 Looks like TON is setting the stage for a decentralized, user-friendly future!
Why stop at Earth when you can launch your blockchain into space? Spacecoin XYZ has ambitious plans to create a "Celestial Chain," a blockchain network operating in orbit, supporting data centers and a space economy that could even survive an apocalypse. 🌌💡
The project, using nanosatellites, aims to provide unmatched security for transactions—where tampering is as impossible as finding your car keys in zero gravity. With Earth’s orbit busier than rush hour traffic (thanks, StarLink!), this interstellar move promises a marketplace for everything from payments to contracts, minus the need for ground control. 💥
Binance is taking the pain out of KYC with some help from Amazon Web Services (AWS) and its generative AI tech. 🚀 This partnership promises a smoother user experience by auto-filling forms, running address checks, and speeding up compliance screenings—all while cutting costs and boosting efficiency.
Binance’s CTO, Rohit Wad, hints at even bigger plans for AWS tech in customer service and risk management. 🌐 Meanwhile, founder Changpeng Zhao sees the crypto regulation skies clearing up, with positive vibes coming from US lawmakers and even a nod from Donald Trump. 🌤️
AI SPOTLIGHT 🧠
It’s not all glitz and VR glam for Alibaba’s metaverse team. The Chinese e-commerce giant has reportedly cut dozens of jobs in its Yuanjing metaverse unit as the hype for virtual worlds gives way to the AI craze. 🌀💻 Despite having poured “billions of yuan” into the venture since 2021, Alibaba is now reshuffling resources to stay sharp in the tech race. They’re not alone—big names like Meta, Microsoft, and Disney have all taken similar U-turns, signaling that AI is the new belle of the tech ball. 🎉👋
Meta’s Llama AI model has marched its way into the US military’s toolkit, ready to help with everything from sorting out logistics and tracking terror financing to boosting cybersecurity.
Meta is teaming up with big names like Microsoft, Amazon, and Lockheed Martin to provide these high-tech services, emphasizing that open-source AI will help keep the US ahead of global rivals like China. 🏆 This move follows reports that China has already been tinkering with an early Llama model, sparking Meta to double down on protecting its AI assets. Mark Zuckerberg’s digital llamas have gone military—talk about AI-ll-in! 🦙🔒
OpenAI, the brains behind ChatGPT, is making waves as it considers transforming into a for-profit company while still holding onto its nonprofit roots. 🧠 The $157 billion AI powerhouse is chatting with California and Delaware regulators to hash out the details, aiming to attract more investment while juggling its public mission of safe AI development.
But it's not without drama—Elon Musk has already thrown shade, calling out OpenAI for shifting gears from its original nonprofit, open-source vision to a more profit-driven approach linked with Microsoft. 🍿🤔 If this transformation goes through, the AI giant could be setting a bold precedent in tech governance!
Samsung is leveling up its smart home game with Knox Matrix, a blockchain-based security system designed to protect your connected gadgets—from fridges to TVs—with military-grade efficiency. 🤖🛡️
Unlike typical single-device security, Knox Matrix allows your appliances to play neighborhood watch, monitoring each other for threats and isolating any rogue device faster than you can say “cyberattack.”
Thanks to features like biometric access and encrypted credential sharing, Samsung users get a smart home that’s both secure and easy to manage. 🛋️🔒 Because nothing says “futuristic living” like having your washing machine guard your Wi-Fi! 🌐✨
OpenAI’s ChatGPT just got a brain boost with its new "ChatGPT Search" feature, letting users ask questions and get web-powered, context-rich answers—basically saying, "move over, search engines!" 🌐✨ This update comes as OpenAI hints that autonomy is set to be the big thing in 2025, teasing a future where ChatGPT might handle tasks all on its own. 💬
And while CEO Sam Altman kept things cryptic, the excitement around agentic AI (hello, robo-assistants) is already sparking anticipation. Looks like 2025 will be the year your chatbot goes from chatterbox to capable doer! 🤖💥
Apple’s AI-powered iPhones helped the tech giant beat Wall Street’s expectations for Q4 2024, raking in a cool $94.9 billion in revenue. 💵📱 This marked a 6.1% boost from last year, thanks to AI features that (for now) mostly summarize notifications.
But the celebration was short-lived: Apple’s outlook for next quarter wasn’t as rosy, causing its stock to take a post-earnings dip. 📉 And with China’s sales underperforming, Tim Cook and team are keeping their poker faces on about future iPhone success in their crucial market.🚦
That’s it for this week’s Crypto Weekly Digest! 🔔 Big leaps, bold moves, and more on the horizon. Stay sharp, stay connected, and keep your crypto game strong. Until next time! 🌐
