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Crypto Evening Briefing: Crypto Protocol Fetch.ai Offering AI Trading Tools for Decentralized Exchanges

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Hong Kong Court Recognizes Crypto as Property

Hong Kong's High Court has ruled that cryptocurrency is property, marking the first such decision regarding digital assets in the city-state. The ruling was made in a legal matter involving defunct crypto exchange Gatecoin, with the court determining that crypto has all the qualities of property and can be held on trust. 

Crypto Protocol Fetch.ai Offering AI Trading Tools for Decentralized Exchanges

Fetch.ai, a UK-based firm that develops artificial intelligence tools for crypto, is launching a set of enhanced trading products for decentralized exchanges (DEX). The platform will use AI-powered "agents" to execute trades based on user-defined parameters and facilitate peer-to-peer transactions between decentralized finance (DeFi) users.

Russian Central Bank Allows Experimental Use of Cryptocurrency in Foreign Settlements

The head of the Russian Central Bank, Elvira Nabiullina, has announced that the bank is considering the experimental use of cryptocurrency for foreign settlements. She also stated that special organizations will be created for this purpose, and a draft law is currently being prepared.

Bitcoin Mining Stocks Are Crushing Tech Stock Prices in 2023

Bitcoin mining stocks have outperformed tech stocks and indexes in 2023, with 20 leading mining firms seeing their stocks double or more this year, according to BTC mining expert Jaran Mellerud.

EU’s Crypto Licensing Regime Set for Approval as Lawmakers Signal Support

European Union lawmakers have shown continued support for the Markets in Crypto Assets regulation (MiCA) in a Wednesday debate, signaling that the licensing law will easily pass a vote due Thursday. 

Market Watch 

As of press time, according to Cointime data:

BTC 's live price is $29,216.64 USD, dropped by 3.59% in the last 24 hours;

ETH’s live price is $1,978.09 USD, dropped by 6.28% in the last 24 hours;

BNB’s live price is $325.98 USD, dropped by 5.39% in the last 24 hours;

XRP's live price is $0.4965 USD, dropped by 4.84% in the last 24 hours.

Fundraising News

Universal Ledger Raises $10M for Wallet-as-a-Service

Universal Ledger, a blockchain-based company that enables customers to build their own crypto wallets, has raised $10m through SAFE notes led by Hard Yaka. The company, which has not yet secured any customers, is targeting large financial institutions and governments and plans to tap into growing interest in crypto's use in remittances and central bank digital currencies.

Rally Raises $12M in Series A Round to Fuel the Future of Ecommerce with its Next Generation Checkout Platform

Rally, a composable checkout platform for ecommerce merchants, has raised $12m in a Series A funding round led by March Capital. The platform currently supports multiple back-end and front-end platforms, payment processors, and payment methods, and plans to build out Web3 features, starting with allowing merchants to accept cryptocurrencies in their checkout. 

Chekkit Raises Undisclosed 7-Figure Investment, Aims to Become Africa’s Foremost Traceability Platform

Chekkit has secured an undisclosed round from Adaverse, a Cardano ecosystem accelerator, with participation from existing investors like RTA, HoaQ, Launch Africa, and Blockchain Founders Fund.

The Odyssey Acceleration Program for Web3 Startups Initiates, Launched by Gotbit Hedge Fund

Gotbit Hedge Fund announced the launch of a new accelerator program called Odyssey. The two-month initiative, which is designed to boost any project looking to build solutions for DeFi and Web3 infrastructure, will focus on delivering comprehensive business education individually for each participating startup.

Swaap Closes $4.5M Seed Round, Led by Signature Ventures

Swaap Labs, the company building Swaap, has successfully secured over $4.5 million in seed funding. The seed funding round was led by Signature Ventures with participation from high-profile investors including New Form Capital, C² Ventures, Kima Ventures, Pareto Ventures, Entrepreneur First (where Swaap's co-founders met), and renowned business angels like Julien Bouteloup (Stake Capital), Pascal Gauthier (Ledger CEO), Richard Ma (Quantstamp CEO), Tegan Kline (The Graph), Meltem Demirors (Coinshares CSO), Frederic Montagnon (Arianee Co-Founder), and Thibaud Elzière (eFounders CEO).

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