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Crypto Evening Briefing: Blockchain Funding in Africa Jumped 5x in 2022

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UAE’s Federal Financial Regulator Opens Licensing Applications for VASPs

The UAE's financial regulatory agency, the Securities and Commodities Authority (SCA), has announced that it will start receiving licensing applications from virtual asset service providers (VASPs) that want to operate within the country. 

Terra’s Do Kwon Fights SEC Access to Singaporean Records

A US judge has denied a request by Terra co-founder Do Kwon to block the SEC's access to certain documents from the Monetary Authority of Singapore, in relation to the regulator's lawsuit against Kwon and Terraform Labs over an alleged unregistered securities offering.

Coinbase Could Move Away From U.S. if No Regulatory Clarity: CEO Brian Armstrong

Coinbase CEO Brian Armstrong has indicated that the crypto exchange would consider relocating away from the US if regulatory clarity for the industry does not emerge.

UK Could Use Brexit to Make New Crypto Law in Next 12 Months

The UK government plans to create a new regulatory program for crypto that could become law within the next 12 months, according to Andrew Griffith, economic secretary to the Treasury.

Crypto Lender Babel Gets Extended Creditor Protection in Singapore

A court in Singapore has extended creditor protection for Babel Finance, a troubled cryptocurrency lending firm, by another three months until July 21, giving the firm more time to repay debts to creditors. 

Market Watch 

As of press time, according to Cointime data:

BTC 's live price is $30,305.49 USD, jumped by 3.02% in the last 24 hours;

ETH’s live price is $2,108.79 USD, jumped by 1.91% in the last 24 hours;

BNB’s live price is $344.55 USD, jumped by 0.92% in the last 24 hours;

XRP's live price is $0.5207 USD, jumped by 1.94% in the last 24 hours.

Fundraising News

Unchained Raises $60M to Offer Collaborative Custody Bitcoin Services

Unchained Capital, a financial services provider for Bitcoin (BTC) holders, has raised $60 million in a Series B funding round led by Valor Equity Partners, with participation from NYDIG, Trammell Venture Partners, Ecliptic Capital, and Highland Capital Partners.

KRAFTON and NAVER Z Expand Metaverse Strategy with $36M Joint Venture

KRAFTON and NAVER Z are forming a joint venture for a new metaverse platform called "Migaloo," with an initial investment of 48 billion Korean won (~$36.4 million). KRAFTON will own 85% of the entity, while NAVER Z will own the remaining 15%. 

Aleph Zero Launches $50M Ecosystem Funding Program

Aleph Zero, a layer-1 privacy-enhancing blockchain, has announced the launch of a $50 million Aleph Zero Ecosystem Funding Program to support developer teams building on its platform and advance blockchain adoption globally.

Blockchain Funding in Africa Jumped 5x in 2022

Despite the challenges of 2022, the African continent's blockchain community has continued to attract significant investments, with blockchain venture funding increasing five-fold on a yearly level. In 2022, Africa raised $474 million, a 429% YoY increase from $90 million in 2021, with Seychelles and South Africa accounting for 81% of the funding.

Core DAO Partners With Bitget and MEXC to Launch $200M Ecosystem Fund

Core DAO has established a $200 million Ecosystem Fund in collaboration with Bitget and MEXC to finance early-stage decentralized applications and protocols on the Core layer-1 blockchain. The Ecosystem Fund will provide financial support for various growth initiatives such as research and development, recruitment, marketing, and community-building programs.

Bitcoin Bitcoin $63,510.34
-0.67%
Metaverse Layer 1 Africa Bitget UAE Do Kwon SEC Singapore Coinbase Brian Armstrong UK
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