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China's Move Towards Web3 Clarity
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/44347b1d-4171-4aac-8796-6d40968cad37/chinabitcoin2.jpg?t=1703092496)
🌐 China's Web3 Strategy Development
China's Web3 Strategy: China's Ministry of Science and Technology plans a strategy document for Web3, addressing innovation, security, and government roles.
Focus Despite Crypto Ban: Despite banning cryptocurrencies, China recognizes the significance of the Web3 industry, with prior initiatives and policies in place.
Future Web3 Developments: The strategy will promote new business models in Web3, focusing on applications in government and industry to enhance the digital ecosystem. Read More.
️ On today's Top Picks:
- ⚖️ Do Kwon successfully appeals extradition.
- 📉 Celsius sells $243M worth of Ethereum.
- 🪂 Frame launches airdrop.
- 🔓 CertiK reveals OKX iOS app vulnerability.
Read time: ⏰ 7 minutes
Crypto News
• ⭐️ Do Kwon successfully appeals extradition from Montenegro.
• Tether onboards US Secret Service and in the process of adding the FBI.
• ⭐️ Celsius sells $243M worth of Ethereum with over $3.94B in assets remaining.
• Marathon Digital $MARA acquires two Bitcoin mining farms for $178.6M.
• Zcash founder, Zooko Wilcox; steps down from CEO position.
• EthereumPoW $ETHW disbands core development organization to achieve complete autonomy.
• Starknet Argent X users need to update their wallets before tomorrow as feeder gateway deprecates.
Alpha
• Pontem unveils Lumio, the first Move L2 on Ethereum.
• Friend tech releases V2 trailer dated for Spring 2024.
• Taiko launches A Holiday Quest for Knowlege campaign on Galxe.
• RedStone launches Holiday Special campaign on Galxe.
• Braavos launches OG role giveaway on Zealy.
Airdrops
• Cosmos staking tutorial by Earndrop.
• ⭐️ Frame launches airdrop for NFT traders and testnet users.
• Aki Network launches airdrop for Aki Network users.
• Access Protocol airdrops 100K $ACS to Solana Saga owners.
• Dymension tweet stating, "📸" hints at airdrop snapshot.
• Rainbow Wallet airdrops points for Week 1.
• Starkpunks unveils $PUNK token and announces airdrop for NFT holders.
Finance News
• Ark Invest sells another ~$5.5M worth of Coinbase $COIN shares in addition to ~$1.6M worth of Robinhood $HOOD shares.
• Ark Invest sells ~$27M in Grayscale Bitcoin Trust $GBTC and buys ~$26M in Block $SQ.
• Only 60% of student loan borrowers made payments after being unpaused.
• Google $GOOG agrees to pay $700M fine and allow for better competition within the Google Play Store.
• AON $AON to buy NFP, an insurance broker for $13.4B.
• Bird $BRDS files for bankruptcy despite raising $500M.
Security and Exploits
• ⭐️ CertiK reveals OKX iOS app vulnerability and urges users to update to the latest version immediately.
• Ledger to compensate affected victims and no longer allow Blind Signing by June 2024 following recent hack.
• BloXroute to start rejecting transactions from OFAC blacklisted addresses.
• Binance passes SOC 2 Type II compliance audit.
• Xfinity discloses data breach affecting 35M people.
Token Unlocks
• Euler / 123.34K $EUL / ~$392K / DEC 20
• Space ID / 18.49M $ID / ~$5.86M / DEC 21
• Acala / 4.66M $ACA / ~$361K / DEC 24
Funding
• Tres FInance, a Web3 tax services firm; raises $11M in Series A funding.
• Fiat Republic, a Banking-as-a-Service (BaaS) platform; raises $7M in Seed extension funding.
• Grass, an incentivized web scraping protocol; raises $3.5M in Seed funding led by Polychain Capital & Tribe Capital.
• Fyde Treasury Protocol, liquid vaults for treasuries; raises $3.2M in Seed funding.
• Formless, a decentralized network for creators; raises $2.2M in Pre-Seed funding.
• Voi Network, an Algorand fork; raises an undisclosed amount in Seed funding.
• Moove Protocol raises an undisclosed amount led by Morningstar Ventures.
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PROTOCOL | ASSETS | APY |
---|---|---|
![]() | IDAIIUSDCIUSDT | 127.94% |
![]() | USDT | 84.95% |
![]() | USDTBUSD | 60.52% |
![]() | USDT | 42.61% |
![]() | MIMARBUSDCEUSDT | 39.95% |
MIMUSDCUSDT | 38.18% | |
![]() | DOLAUSDC | 32.96% |
![]() | USDT | 25.29% |
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That’s it for today’s edition! See you soon.
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