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Crypto Evening Briefing: Japan Approves Web3 White Paper to Promote Industry Growth in the Country

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Chinese State Insurance Firm Launches Two Crypto Funds in Hong Kong

CPIC Investment Management, a subsidiary of China Pacific Insurance Company (CPIC), is reportedly launching two cryptocurrency funds in partnership with investment firm Waterdrip Capital. 

FTX Philanthropic Donations Have Created a Complex Dilemma for Recipients

The collapse of the FTX exchange and its subsidiaries in November 2022 led to the shutdown of its philanthropic arm, FTX Future Fund, causing researchers and scholars who were early recipients of the grant to be stuck in limbo over payment of further grants for their programs. 

Japan Approves Web3 White Paper to Promote Industry Growth in the Country

Japan's ruling Liberal Democratic Party's Web3 project team has approved a white paper laying out recommendations for growing the country’s crypto industry. The white paper proposes changes to tax regulation, including tax exclusions for companies holding tokens issued by other companies that are not going to be traded short-term, and allowing self-assessments so that investors can carry over losses for three years. 

Germany to Approve ‘Crypto Shares’ Issuance Regulations

Germany has approved the issuance of "crypto shares" under its new Future Financing Act. Public corporations can now choose to issue their stocks as conventional or electronic shares, which can be registered on a blockchain to create crypto shares. 

OKX Liquid Marketplace Records Over USD1 Billion in Institutional Trading Volume in 2023

OKX, the second-largest crypto exchange by trading volume, has announced that its on-demand liquidity network, the OKX Liquid Marketplace, exceeded $1 billion in trading volume in 2023.

Market Watch 

As of press time, according to Cointime data:

BTC 's live price is $27,979.06 USD, dropped by 1.90% in the last 24 hours;

ETH’s live price is $1,869.30 USD, dropped by 2.64% in the last 24 hours;

BNB’s live price is $312.47 USD, dropped by 1.04% in the last 24 hours;

XRP's live price is $0.4998 USD, dropped by 2.32% in the last 24 hours.

Fundraising News

BitValue Capital Invests $10 Million in IOST to Advance Web3 and AI Integration

Canadian Web3 investment firm BitValue Capital announces a strategic partnership with IOST through a $10 million USD long-term investment aimed at enhancing IOST’s mainnet capabilities and supporting the continuous development of its ecosystem.

Yuliverse Closes Seed Round Led by LIF

Yuliverse, the mobile metaverse app that combines gaming and social networking, has announced the completion of its seed round, led by LIF, with participation from Archerman Capital, Animoca Ventures, TKX, Hummingbird Capital, and Lionrock. 

Opside Secures $4M Seed Round to Expand Its ZK-Rollup-as-a-Service Platform

Opside, a three-layer infrastructure platform providing ZK-rollup-as-a-service (ZK-RaaS), has raised $4 million in a seed round led by Web3.com Ventures, with participation from other notable investors in the crypto industry. 

Bitcoin Bitcoin $63,001.54
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