Get the top stories, funding deals, technical analysis, cryptocurrency jobs and much more delivered to your inbox, every Monday morning.


December 16,2024

Web3 Fundraising Deals - 10th To 16th December 2024

Juicyway raised $3M in Pre-Seed Funding with help by P1 Ventures. Juicyway is a financial technology platform that specializes in streamlining global payments and cross-border financial operations for businesses and individuals. 

 

DexCheck AI secured an undisclosed amount with support by ChainGPT Labs. DexCheck is revolutionizing crypto trading through its unique, AI-boosted analytics platform. It offers real-time insights into crypto and NFT markets, making blockchain analysis intuitive and accessible even for beginners.

 

Yei Finance obtained $2M in Seed Funding with assistance by Manifold. Yei Finance is a decentralized, non-custodial money market protocol built on the Sei network. It enables users to deposit assets for passive income or borrow through overcollateralized or flash loans, adhering to strict risk parameters. 

 

Moonray PBC raised $1.75M in Undisclosed Funding with help by Animoca Brands. Moonray provides a unique gaming experience that allows players to venture into an intergalactic world.

 

Spectral Labs secured an undisclosed amount with support by STIX. Spectral focuses on creating an Agent Economy for Web3 as well as a Machine Intelligence Network to generate autonomous onchain agents.

 

Inveniam raised an undisclosed amount with assistance by G42. Inveniam is designed to streamline data management for private market assets by leveraging blockchain technology to enhance trust, liquidity, and interoperability.

 

SolStone acquired $2M in Pre-Seed Funding. SolStone is a bot for trading on Solana that has MEV protection and various trading features.

 

Uranium Digital obtained $1.70M in Pre-Seed Funding with help by Portal Ventures. Uranium Digital is transforming uranium trading through the first digital platform for instant spot trading, derivatives, physical settlement, and issuance.

 

Privasea AB raised an undisclosed amount in Strategic Funding with support by Lunar Labs Capital. Privasea is a decentralized AI network that leverages Fully Homomorphic Encryption Machine Learning (FHEML) for secure data circulation.

 

Superform Labs secured $3m IN Strategic Funding with help by VanEck. Superform is a DeFi protocol comprising non-upgradeable, non-custodial smart contracts that serve as a central repository for yield and a user router. It facilitates efficient discovery, execution, and management of yield across multiple blockchains.

 

December 15,2024

Bitcoin Settles Above $100K As Jerome Powell Faces Pivotal Policy Decisions

Bitcoin (BTC) saw its price firmly stay above the significant $100,000 level, even surpassing $102,000 earlier this week. While most altcoins are showing slight declines, XRP and BNB have emerged as the top gainers. The market capitalization of BTC has also gone well past $2 trillion, with its dominance over altcoins slightly decreasing to 52.5%.

 

Seeking A New All-Time High
The beginning of the business week was challenging for Bitcoin, as its price dropped to around $94,400 on several occasions. However, it rebounded after reaching that support level the second time, climbing to $98,000 by Wednesday.

The upward momentum continued, with Bitcoin reclaiming the six-digit range by Thursday. Besides a few brief dips below that threshold, Bitcoin has largely remained above it. Moreover, the price surged to over $102,500 earlier today, marking a nine-day high. Though it has retraced slightly and is now just under $102,000, it remains up by 1.5% on the day.

 

XRP And BNB On The Rise
Most large-cap altcoins are experiencing modest gains today. Ethereum (ETH) has climbed back to $3,900 after a small 1% increase. Solana (SOL), Dogecoin (DOGE), Cardano (ADA), Avalanche (AVAX), and Shiba Inu (SHIB) have seen similar rises.

BNB has risen by 3% and is now trading above $725. XRP has notably outperformed the larger-cap coins, surging by 6%. It briefly reached $2.5 earlier today but has pulled back slightly. Other notable gainers include Chainlink, Stellar, and TRON. The total market capitalization of all cryptocurrencies remains above $3.8 trillion, following a 1% increase in the last 24 hours.

 

Other Markets

Federal Reserve Chairman Jerome Powell is facing pivotal policy decisions with all eyes on the upcoming Jackson Hole meeting, while global central banks wrap up a year of easing marked by significant rate cuts.

Meanwhile, in China, major cities like Shanghai are easing rules for homebuyers, with the housing regulator reporting signs of stabilization in the market. At the same time, U.S. heirs are set to inherit a staggering $105 trillion, with investors in Asia focusing on the strong dollar and political risks related to Donald Trump as they prepare for 2025.

In environmental news, the Enbridge pipeline continues its cleanup efforts after an oil spill in Wisconsin. Zambia, dealing with its financial challenges, paid $82 million to China as part of a debt restructuring deal. The 2019 St. Petersburg International Economic Forum saw the Russian billionaire forecast a reasonable exchange rate of 100-110 rubles to the dollar.

Lastly, as Trump returns to Washington, vital U.S. economic data faces threats, with federal agencies struggling under the pressure of shrinking budgets.

 

December 14,2024

JPMorgan Abandons Scam Victim As Crypto Becomes Increasingly Popular

A JPMorgan Chase customer says he has been fighting for over a year to get his money back after $7,000 vanished via his account. Grant Holihan told CBS New York he believes his debit card was skimmed at an ATM in Queens. Shortly after using the machine, he got an alert by JPMorgan about a suspicious purchase in Las Vegas.

 

A Sad State Of Affairs

Holihan immediately closed the account, but that was not the end of it. He says scammers managed to make additional charges at multiple Giant supermarkets in Pennsylvania, draining his entire life savings in under an hour. In less than 60 minutes, scammers spent more than $7,000 at four different stores, Holihan said, before adding that it has already been over a year, and he still has not received any kind of reimbursement as the bank keeps denying his claim.

Holihan says he has evidence proving he was in New York when the fraudulent transactions occurred, but JPMorgan Chase insists the charges were legitimate. The claim was denied because the transactions were completed using the PIN number of the customer and was verified by phone, the bank said in a statement. Holihan, who feels abandoned by the bank, is asking Chase to step up and do the right thing.

 

Growing Concerns

This is not the first time that banks have let their customers down, and it is very much a global issue. It is also one of the main reasons why so many across the globe are actively shifting toward alternate means of saving up their hard-earned money, such as crypto.

In fact, many experts believe that is the rapidly growing popularity of crypto that so many banks are afraid of, as it would essentially render them obsolete, much like how social media rendered the post office completely irrelevant. Cases like Holihan are only increasing and unless banks step up and help out their customers, it could very well only be a matter of time before they have little to no customers left at all.

 

December 13,2024

Google Finally Launches Highly Anticipated New AI Agent

Google has unveiled Mariner, a cutting-edge AI agent powered by the Gemini 2.0 framework, setting the stage for a major leap in how we interact with technology. This advanced AI system is designed to handle tasks on your behalf by leveraging reasoning, planning, and memory.

Currently, Mariner is in limited release, with a broader rollout expected in 2025. Many are actively working to keep up with what Google is doing, with Quant.Bond recently launching their Terminal Simulation.

 

Hefty Ambitions

Jaclyn Konzelmann, project manager for Mariner, told the New York Times that users can now input requests directly into their web browser, and Mariner will take action autonomously. This development comes hot on the heels of the Gemini 2.0 release, which supercharges the ability of the model to perform complex reasoning, solve multi-step problems, and execute tasks with minimal human intervention.

The significance of this launch extends beyond what Google has planned for its AI ambitions. By integrating Mariner into the Chrome browser, Google positions itself at the forefront of the push to seamlessly embed AI agents into everyday life and business workflows, much like how cryptocurrencies and blockchain are slowly transforming the financial landscape.

As cryptocurrencies continue to shape decentralized finance (DeFi), AI agents like Mariner could play a similar role in revolutionizing industries by automating complex processes, increasing efficiency, and offering tailored solutions across various sectors such as crypto trading strategies to business intelligence.

 

Key Advances In Gemini 2.0 AI Agents
Gemini 2.0 represents a monumental shift compared to its predecessor, with a clear focus on agentic AI, systems that not only process data but can also reason, plan, and take action. Google CEO Sundar Pichai described the upgrade as a significant step forward.

While its earlier version emphasized handling multimodal data like text and images, the new Gemini 2.0 enables AI agents such as Mariner to tackle much more intricate tasks independently. For example, its Deep Research feature can scour the web, analyze data, and compile detailed reports, mimicking the work of an expert assistant, a powerful tool for industries like crypto, where fast, accurate data analysis is crucial for making investment decisions and predicting market trends.

 

December 13,2024

El Salvador And Argentina Unveil Ambitious Expansion Strategy

El Salvador, the first country to adopt Bitcoin (BTC) as legal tender, is joining forces with Argentina to develop digital asset regulations. This partnership is part of a broader strategy by El Salvador to collaborate with over 25 nations, sharing its expertise to help shape effective cryptocurrency regulations in Latin America.

Argentina President Javier Milei has backed the use of cryptocurrencies to combat inflation, making Argentina an ideal partner. Reyes praised the local high crypto adoption rate and innovative blockchain ecosystem, which are key reasons for the partnership.

 

Plenty Of Potential

On December 11th, Juan Carlos Reyes, President of the El Salvador National Commission of Digital Assets (NCDA), and Roberto Silva, President of the Argentinian National Securities Commission (CNV), signed an agreement aimed at fostering regulation and innovation in the digital asset sector.

Reyes highlighted the potential of the collaboration, noting that the forward-thinking blockchain industry in Argentina combined with the technological know-how of El Salvador would create a highly productive partnership. In fact, Argentina already has businesses operating in El Salvador, underscoring the practical benefits of this collaboration.

 

Global Expansion

The efforts by El Salvador extend beyond Argentina, with talks underway with over 25 countries to forge similar partnerships. Reyes emphasized the importance of international collaboration to advance crypto adoption and global regulation.

To facilitate these partnerships, El Salvador has assembled a 20-member team of Bitcoin and cryptocurrency experts to assist other nations in developing clear and effective regulations that can prevent fraud and money laundering in the sector.

Despite facing criticism for its bold Bitcoin initiatives, such as making the cryptocurrency legal tender, El Salvador has gained valuable experience, which it is now using to help other countries create solid regulatory frameworks. El Salvador is also nearing final agreements with two other countries as part of its broader strategy. Reyes believes that cross-border knowledge-sharing is crucial for ensuring a secure and effective environment for digital assets.

 

December 12,2024

MEV Sandwich Attacks Lead To $60M Being Extracted Via Solana Validator

The Solana (SOL) ecosystem is facing controversy over Maximum Extractable Value (MEV) tactics, particularly Sandwich Attacks. A single Solana validator is reported to have extracted over $60 million through these attacks in one month, using the Solana blockchain to manipulate transactions and profit at the expense of users.

 

Substantial Losses

DeFi analyst 0xngmi noted that while the $60 million is the profit for the validator, user losses are even greater due to transaction priority fees, or validator bribes. The issue gained attention when Ben, a core developer of Temporal, revealed that the Arsc validator was using a sandwich attack bot to front-run transactions and increase MEV earnings.

This raised concerns about the centralization of MEV, threatening the decentralization aspect of Solana. Ben proposed solutions like whitelisting or blacklisting validators or using a public mempool, though these received criticism for potentially leading to censorship. Coinbase representative Viktor Bunin argued that improving DEX design and slippage parameters would be a better solution.

 

Transparency Issues

A sandwich attack works by malicious actors manipulating transaction orders, making users pay higher prices while attackers profit. The architecture of Solana, with its fast transaction processing and private mempools, makes it especially susceptible to such attacks. This has raised concerns over the transparency of REV (Real Economic Value) of Solana.

While some argue that sandwich attacks are a small portion of this REV, the majority comes via prioritizing transactions for faster processing. As the debate continues, users can protect themselves by using tools like Helius or choosing chains with built-in MEV protections like MultiversX (EGLD).

 

December 12,2024

Celebrities Are Still Endorsing Meme Coins Despite Scam Accusations

The 2024 Bitcoin bull market has spurred plenty of investor interest in meme coins, with traders seeking volatility and large profits. Celebrities have capitalized on this by launching their own tokens, but many face accusations of scams.

Despite poor track records, novice investors continue to fall for celebrity-endorsed tokens. Celebrities have previously promoted crypto projects for profit, and platforms like Pump.fun make it easy to launch meme coins with little utility. 

 

Celebrity Tokens That Failed

Andrew Tate is a controversial figure to say the least, and his $DADDY token is no different. It suffered the same pump-and-dump scheme that so many meme coins have experienced, with insiders profiting significantly. Investigations revealed significant early buys, raising concerns over fairness.

Jack Doherty is another celebrity with a failed meme coin project. He hyped his $MCLAREN token during a livestream, only to sell off his holdings and crash the price, leaving investors with heavy losses. No legal action has been taken yet. In the music industry, Sean Kingston launched his $KING token which crashed shortly afterward, and he was later arrested for fraud and theft.

Caitlyn Jenner and Jason Derulo both launched meme coins with Sahil Arora, leading to pump-and-dump accusations. Jenner is facing a lawsuit for allegedly soliciting unregistered securities.

 

The Dangers Of Trusting Celebrities

While celebrities may drive attention to crypto projects, their involvement does not guarantee legitimacy, with savvy investors often seeing celebrity endorsements as a red flag. Investing in a celebrity-endorsed meme coin is therefore risky because celebrities often lack expertise in crypto, with many not even knowing the ins and outs of what they are promoting in the first place.

The aforementioned celebrity-endorsed meme coins are not only highly speculative, prone to pump-and-dump schemes, but they are also just a drop in the vast ocean of such meme coins which many believe are just pump-and-dump schemes waiting to happen. Once the hype fades, many investors are left holding the proverbial bag.

 

December 11,2024

Quant.Bond Is The Future Of DeSci As Terminal Simulation Goes Live

The Terminal Simulation is finally live on Quant.Bond, which is paving the way for an era of quantum-powered decentralized science (DeSci). This is not just a tool, it is a glimpse into the power and resilience of the $KNOT quantum resistant algorithm. $KNOT is also not just a token, it is a declaration of war on stagnant science and quantum threats.

This is also extremely bullish because the Terminal Simulation computes the invariant of a mathematical knot, then forces attempts to guess the knot through its variant. Even when using simple knots, it is computationally intense, and scaling this difficulty leads to Knot-DH, a robust, quantum-resistant initiative.

Google Launches Willow

Knot-DH builds on the difficulty of decomposing knots into primes. Diffie-Hellman is the inspiration behind Knot-DH, and it replaces group actions with semigroup actions, thereby forming a breakthrough cryptographic key exchange. Now is also the best time to fund innovative ideas like Knot-DH, as giants like AWS are actively adopting post-quantum cryptography.

In fact, with Google recently launching Willow, their new Quantum AI chip, we are seeing a massive leap forward in quantum computing capabilities. This is not just a chip, it is a quantum leap toward hyper-intelligent systems and applications that will push the limits of what we know about artificial intelligence and security. It recently solved a problem in minutes that supercomputers would have taken longer than the lifespan of the universe to solve!

Moreover, with players like QuantWare scaling 64-qubit processors, the quantum future is not just a possibility, it is a reality that is being built right now. By creating an open, decentralized ecosystem for quantum research, Quant.Bond is ensuring that the next wave of innovation will be secure, scalable, and collaborative.

Looking Ahead

Quant.Bond aims to become the future of quantum innovation. This platform is built to accelerate the development of quantum-powered algorithms and bring them to life. Put simply, it is the next evolutionary stage of DeSci.

At the heart of Quant.Bond is the idea of radical democratization, where the power to push quantum computing forward is in the hands of the global community. This is not just innovation, it is revolutionizing how we look at quantum-powered data.

 

December 11,2024

Microsoft Shareholders Say No To Accepting Bitcoin

Microsoft shareholders voted against a proposal that urged the company to invest a portion of its assets in Bitcoin (BTC).

 

Potential Hedge Against Inflation

The proposal, presented by the National Center for Public Policy Research (NCPPR), suggested that Microsoft allocate 1% of its financial assets to Bitcoin, viewing the cryptocurrency as a potential hedge against inflation.

The proposal was put to a vote during the annual shareholder meeting of Microsoft, but it was rejected as the majority of shareholders aligned with the board of directors' recommendation to dismiss the idea.

 

Saylor Steps In

During the meeting, Michael Saylor took the opportunity to address the shareholders and advocate for Bitcoin. Saylor, whose company has made substantial investments in Bitcoin, emphasized its role as a store of value in times of economic uncertainty and inflation. He argued that Bitcoin could offer stability in an unpredictable economic landscape.

Despite his presentation, the proposal was ultimately turned down, with the board of directors expressing concerns about the high volatility of BTC, which they believed could pose a significant risk to Microsoft's financial stability. The decision highlights the ongoing debate among investors about the role of cryptocurrencies in traditional corporate portfolios.

 

December 10,2024

Russian Bitcoin Reserve Proposed To Counter Sanctions Risk

Anton Tkachev, a member of the Russian State Duma, has proposed the creation of a Russian Bitcoin (BTC) reserve to strengthen local financial stability amidst ongoing international sanctions.

 

Mitigating Risks

The proposal, addressed to Finance Minister Anton Siluanov, suggests that digital currencies could help mitigate risks associated with traditional reserve assets. In his letter, Tkachev highlighted that assets like the U.S. dollar, euro, and yuan are increasingly exposed to inflation, volatility, and sanctions. He pointed out that Bitcoin, being a decentralized digital currency, is not linked to any particular nation's financial system, allowing it to potentially withstand geopolitical pressures.

Tkachev called for an evaluation by the finance ministry to determine the feasibility of establishing a Russian Bitcoin reserve, with the results to be presented for government approval. Meanwhile, the Central Bank of Russia is continuing to explore the use of cryptocurrencies in cross-border transactions, especially as traditional financial systems become less accessible to sanctioned countries.

 

Global Traction

The proposal also referenced the recent strong performance of Bitcoin, including its $100,000 valuation in December 2024, presenting it not only as a means to safeguard financial stability but also as a potentially profitable investment. Tkachev emphasized the need for policy changes and coordination between agencies to make the plan successful, which could inspire other sanctioned nations to consider similar strategies.

The idea of using Bitcoin as a reserve asset is gaining traction globally. In the U.S., Senator Cynthia Lummis has introduced the Bitcoin Act of 2024, pushing for a national Bitcoin reserve, while former President Donald Trump has expressed support for holding Bitcoin to enhance overall economic resilience.

December 10,2024

Argentina Officially Approves Crypto ETFs For Stock Market Use

Argentina has approved crypto ETFs for its local stock market, marking a significant milestone for the local financial sector. The country has been adopting a more crypto-friendly policy over the last year in order to combat inflation.

 

Introducing CEDARS

The CNV (National Securities Commission) has introduced CEDEARs for Bitcoin (BTC), Ethereum (ETH), and other digital asset ETFs, aligning with the libertarian policies of President Javier Milei aimed at modernizing investment opportunities and integrating the local financial system with global standards.

In addition to crypto ETFs, Argentina has also approved CEDEARs for gold and stock index ETFs, including the inverse S&P 500 and the Chinese market FXI ETF. This move is designed to attract foreign investments, diversify the financial system, and offer local investors unique trading options, according to Livebitcoinnews.

 

Accessing Global Markets

The approval of crypto ETFs allows local investors to trade digital assets like Bitcoin and Ethereum through regulated intermediaries, broadening access to global markets and encouraging financial diversification.

The initiative goes beyond cryptocurrencies, incorporating gold and international stock ETFs, signaling an overall growing desire that Argentina has toward pushing for financial modernization, economic growth, and increased use of blockchain and crypto technologies for national economic benefit.

 

December 09,2024

Shareholders Demand That Amazon Add Bitcoin To Its Treasury

Amazon shareholders are urging the company to consider adding Bitcoin (BTC) to its balance sheet as a hedge against inflation, following the example of other major companies like Microsoft and Tesla. This request is part of a larger trend in which businesses are exploring Bitcoin as a potential asset to safeguard their finances and increase shareholder returns.

 

Protection Against Inflation

The rationale behind this decision is that, with rising inflation, traditional assets like cash and bonds are less effective at preserving value. In contrast, Bitcoin has seen significant growth, increasing by 131% in 2024 alone, and over 1,200% in the past five years, far surpassing the performance of various bonds.

With $585 billion in assets, including $88 billion in cash and bonds, Amazon shareholders believe the company should consider adding Bitcoin to its reserves. This move could help Amazon shield its profits when it comes to inflation and potentially yield higher returns in the future. Following the proposal, former Binance CEO Changpeng Zhao (CZ) suggested that Amazon could also accept Bitcoin as a payment method, further embracing cryptocurrency.

 

The Bitcoin Effect

Companies like MicroStrategy, which holds significant Bitcoin assets, have seen their stock prices rise, and Tesla and Block (formerly Square) have similarly added Bitcoin to their balance sheets. The proposal for Amazon to do the same is based on the belief that it would boost shareholder value.

Though Bitcoin is a volatile asset, shareholders propose Amazon start by allocating just 5% of its assets to Bitcoin. This idea reflects a broader shift where companies are viewing Bitcoin as a reliable long-term investment to combat inflation. Microsoft shareholders are also set to vote on adding Bitcoin to their balance sheet soon.

As Bitcoin gains wider acceptance among major companies, it may become a standard asset management tool. While Amazon has not yet made a decision, the increasing discussion around Bitcoin suggests more companies, including Amazon and Microsoft, may soon adopt similar strategies.