Nonprofit funding platform Heroe5™ announced the creation of The Good Society™ to address the growing need for sustainable funding platforms for charitable organizations. The Good Society by Heroe5™ becomes the first project focused on Web3 solutions to raise awareness and support global causes working to positively impact our communities.
Telstra Ventures, a data-focused venture capital firm, has released a new research report showing that Web3-developer interest has remained strong despite the crypto bear market driven by the implosion of the terraUSD (UST) stablecoin, the bankruptcy filing of crypto-lender Celsius and the liquidation of hedge fund Three Arrows Capital.
The crypto market has seen some serious swings over the past year. Bitcoin, arguably the flagship of the market, began to lose its value late last year after reaching historic highs, a trend that eased at the beginning of 2022. Until, that is, the meltdown of TerraUSD in May. TerraUSD (UST), a stablecoin that was pegged to the US dollar, crashed in a spectacular fashion earlier this year, reinforcing a sell-off mentality that was already in full swing among crypto investors and sending Bitcoin and other cryptocurrencies into a bit of a tailspin.
Everdome, the most hyper-realistic metaverse, announced that GEM Digital Limited (GEM), a Bahamas-based digital asset investment firm that sources, structures and invests in utility tokens listed on over 30 CEXs and DEXs, has agreed to an investment commitment of $10m into the UAE-based metaverse company through a structured token subscription agreement.
Hyosung America announced recently that DigitalMint, the premier cash-to-cryptocurrency provider, has signed a partnership agreement with Hyosung America to add DigitalMint services to its soon-to-be-launched API-based app store
Binance, the blockchain ecosystem behind the largest crypto exchange, named its Co-Founder Yi He as the new head of its venture capital (VC) arm and incubator, Binance Labs. Binance Labs is the largest crypto VC in the industry by assets under management (AUM) with a multiple on invested capital (MOIC) of 21.0x, a performance metric that is unmatched in the industry. It manages total assets of $7.5bn, comprised of over 200 portfolio projects.
Ripple, the enterprise blockchain and crypto solutions firm, announced a partnership with Singapore-based major payments institution FOMO Pay, which will utilize Ripple’s crypto-enabled enterprise tech to improve its cross-border treasury flows. On-Demand Liquidity (ODL) leverages XRP, the digital asset built for payments to bridge two fiat currencies, low cost settlement without the need to hold pre-funded capital in a destination market.
Lately, NFTs have become an unavoidable topic. And it's quite understandable since they are making people rich much faster than you can blink. With artists such as Pak selling a single NFT for a whopping US$91.8 million and Beeple fetching US$69.3 million from just one piece, such eye-watering sums are bound to capture the attention of the global masses.
With the collapse of stablecoin TerraUSD and concernes about the fragility of the crypto market, Sensor Tower, the market intelligence firm, has lifted the lid on how crypto apps are performing in Australia. It appears the FOMO around crypto investing may be wearing thin with the data revealing a drop in crypto app downloads. Downloads for the top ranked app in 2021 vs 2022 are down 82% with overall downloads down 72% in the same time period.
TOKEN2049, Asia’s premier crypto conference, announced a new batch of title sponsors and speakers for its upcoming Singapore edition which will run from 28-29 September. This year marks the conference’s Singapore debut, making for a thrilling week of activities as some of the most pioneering projects gather at what’s set to be the crypto industry’s first major in-person event in Asia ahead of the Formula 1 Singapore Grand Prix 2022 race weekend.