Crypto Breaking News Digest | Major Funding Raises Reach $228.2 Million,MEXC Reached Cooperation With Coinbase

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*The dollar sign in this article refers to US dollars.

According to MEXC Research, from October 10 to October 16, 2022, 36 projects in the Web3 space raised a total of $228.2 million. Among them, Metaverse, NFT and GameFi projects have raised $49.96million; DeFi and Web 3 projects have raised $50.75million; The infrastructure projects raised $127.5 million financing.

Last week, there were several events worth noting:

  1. MEXC had reached cooperation with Coinbase to jointly fulfill the privacy and security obligations of cryptocurrency under the framework of Coinbase’s TRUST Network (TRUST).
  2. MEXC has enabled MX deduction function for tokens listed in Assessment Zone or moved from Assessment Zone to Innovation Zone.
  3. MEXC listed XEN Crypto(XEN/USDT), a joint virtual mining project based on Proof of Participation,with deposit ranking the Top 1 on the entire network.

Metaverse & NFT & GameFi

  1. Dragonfly and OpenSea back $10 million raise for NFT financing firm MetaStreet

The NFT debt provider MetaStreet has raised $10 million in fresh funding. Investors in the round include DragonFly Capital, Nascent and Ethereal Ventures, who funded MetaStreet before. New investors participated as well, such as Fintech Collective, DCG, TheLAO, Focus Labs, Mirana Ventures, Metaversal, OpenSea Ventures, Ledgerprime, Meta4 and Flying Falcon.

Combined with $14 million total in seed funding acquired in February, MetaStreet’s total financing is now $24 million,

  1. Didimo raises $7.15M in Series A ,led by Armilar Venture Partners

Didimo has announced the successful completion of a $7.15MSeries A funding round led by Armilar Venture Partners. The fundraising also attracted participation from Bright Pixel Capital, Portugal Ventures, and Techstars.

The company is raising funds to accelerate the development of its gaming ecosystem which will help gaming companies to bring real-life digital experiences to the metaverse.

  1. NFT startup Otterspace raises $3.7 million to ‘definancialize web3’, venture firms Cherry Crypto and Inflection led the round

NFT startup Otterspace has raised $3.7 million to build a protocol and application that it hopes can reduce financialization in web3.

The seed round was co-led by venture firms Cherry Crypto and Inflection, with Bessemer Venture Partners and Coinbase Ventures participating. Otterspace was valued at $20 million after the round closed in May.

  1. Homa raises another $100 million,led by Quadrille Capital and Headline

French startup Homa has raised a $100 million Series B funding round. Quadrille Capital and Headline are leading the round. Homa partners with indie mobile game studios so their games are perfectly optimized to become a hit game on the App Store and Google Play.

Other investors in the Series B include Northzone, Fabric Ventures, Bpifrance, Eurazeo and Singular. With Voodoo, Homa is one of the companies that have turned mobile gaming development into a methodical, data-driven process.

  1. Flowstate Games closes $2 million Pre-Seed round,led by Play Ventures Future Fund

Flowstate Games closes $2 million Pre-Seed round,led by Play Ventures Future Fund,with participation of Equilibrium, a Web3 infrastructure development company, Joakim Achrén, founder of Elite Game Developers and his angel investment team.

DeFi & Web 3

  1. Uniswap Labs announces the completion of a $165 million series B funding ,led by Polychain Capital

Uniswap Labs announces $165 million series B funding at $1.66 billion valuation,led by Polychain Capital, with participation of Andreessen Horowitz,Paradigm,SV Angel and Variant. The fund will provide at least $60 million in grants to community projects over the next several years.

  1. Sovryn raises $5.4 Million, led by General Catalyst

Sovryn announced that it has secured $5.4m in its latest funding round, led by General Catalyst, to expand its global financial operating system designed to provide individual self-sovereignty and financial autonomy to people around the world. The additional investors in the round were Collider Ventures, Bering Waters, Bollinger Investment Group, and Balaji Srinivasan.

Sovryn is a leading Bitcoin-native DeFi platform and is fully community-owned and governed. It’s built on Bitcoin, uses BTC as its primary trading currency, and delivers decentralized and autonomous finance at scale.

  1. A16z Crypto leads $14 Million bet on Rye, new Web3 E-Commerce startup

Rye, a shopping platform raised $14 million in venture capital funding led by a16z crypto, with participation of Goat Capital,Solana Ventures,Electric Ant,Electric Feel Ventures,L Catterton, and others.

Founded by Justin Kan ,Rye will look to use crypto tokens to try to build a cheaper ‘Spotify for ecommerce.’

  1. Web3 freight insurtech company Otonomi closes $3.4 million financing,led by ATX Ventures

Web3 freight insurtech company Otonomi announced new $3.4M funding round led by ATX Ventures,with participation of GSR Ventures,Greenlight Re Innovations,Punja.VC,Altari Ventures, Soundboard Venture Fund,Blackhorn VC,Bering Waters,REFASHIOND Ventures, and others.

  1. Cryptocurrency management platform Pillow raises $18 million in Series A , co-led by Accel and Quona Capital

The Singapore-based startup,Pillow, announced it has raised $18 million in Series A financing co-led by Accel and Quona Capital, with participation from Elevation Capital and Jump Capital.

The app currently has more than 75,000 users in over 60 countries. It supports seven digital assets — Bitcoin, Ethereum, Solana, Polygon, Axie Infinity and USD-backed stablecoins USDC and USDT — and plans to expand to over 20 assets in the coming months.

Infrastructure

  1. Blockchain development platform Tatum raises $41.5M from Octopus and Circle

Blockchain development platform Tatum has raised $41.5 million in funding from Octopus Ventures, Circle, Leadblock Fund and founders of crypto exchange Bitpanda, among others.

Tatum’s aim is to slash the time-to-market of blockchain application development. Its platform simplifies the creation of blockchain operations in single lines of code to streamline the development process, incorporating features such as smart contracts, fee and payment solutions, real-time alerts and crypto-exchange functions.

  1. Web3 multi-chain indexing platform nxyz completes $40 million in Series A financing,led by Paradigm

Multi-chain indexing platform nxyzannounced a $40M Series A led by Paradigm, with participation from Greylock Partners, Sequoia Capital, Coinbase Ventures, 20VC, and prominent web3 angels like Balaji Srinivasan, Jaynti (JD) Kanani, Jing Wang, Packy McCormick, Surojit Chatterjee, Ryan Selkis, and others.

Nxyz aims to provide best-in-class data infrastructure so that developers can spend more time on building user-facing applications, not bringing up infrastructure.

  1. Wintermute Ventures leads Zerion‘s $12 million raise to shake-up crypto wallets

Decentralized finance platform Zerion just raised $12.3 million in a Series B and aims to disrupt the crypto wallet landscape. The round is led by Wintermute Ventures and other backers — including Mosaic, Coinbase Ventures, Alchemy and Placeholder.

Founded in 2019, the Zerion platform enables users to access and manage assets across decentralized finance protocols.

  1. Gomu raises $5M to power NFT liquidity incentives,with participation of Coinbase

Gomu, an NFT infrastructure and liquidity enabler, has closed a $5 million seed round with participation from Coinbase Ventures, Defiance Capital, Saison Capital, and several angel investors including Carylyne Chan (former CEO at CoinMarketCap), Matthew Tan (Founder of Etherscan), Bobby Ong and TM Lee (Co-founders of CoinGecko), Mike Dudas (GP at 6MV), and Benedict Chan (VP Engineering at Chainlink).

To date, Gomu has launched two main products, NFT Hub and Collection.xyz, built on their robust NFT APIs, which are already widely available for developer adoption.

  1. Blockchain security company Hexens raises $4.2 Million in seed funding led by IOSG Ventures

Hexens, a cybersecurity boutique and blockchain startup, announced the closure of a $4.2 million seed round led by IOSG Ventures, the leading Web3 Venture Capital.

Other investors include Delta Blockchain Fund, ChapterOne VC, Hash Capital, ImToken Ventures, Tenzor Capital, and angels from Polygon and other blockchain projects.

  1. Valory closes a $4 million strategic seed fundraise, led by True Ventures

Infrastructure provider Valory has closed a $4 million strategic seed fundraise, led by True Ventures,with participation of Signature Ventures,Semantic Ventures,Prime Block Venturees,Proof Group and Atka.

Valory created an open-source software stack that developers can use to build their own autonomous services, and launched the Autonolas DAO.

  1. Crypto wallet startup Pine Street Labs closes $6 million seed round,led by Polychain Capital

Upstart crypto infrastructure company Pine Street Labs is trying to build a better business wallet with $6 million in funding from Polychain Capital and other top crypto venture capital firms,including Blockchain Capital,Coinbase Ventures,Genesis,CoinList,Figment and BECO Capital.

Hot News

  1. Polygon has released the Polygon zkEVM public testnet

Polygon has released the Polygon zkEVM public testnet . This is the first zkEVM to enter the public testnet reaching the open source ZK proving system.Some of the biggest EVM-based DeFi platforms — including Aave and Uniswap, as well as Web3 social platform Lens and gaming studio Midnight Society — will be amongst the first protocols to deploy on the zkEVM Testnet, with more joining soon.

  1. Debank plugin wallet Rabby was hacked,users assets were stolen

There is a suspected vulnerability in Rabby’s Swap Router, a plug-in wallet developed by DeBank, which can transfer user assets arbitrarily.

Attacker address is 0xb687550842a24d7fbc6aad238fd7e0687ed59d55. The address earned over $190,000, including $100,000 on Ethereum and $40,000 on BSC

  1. U.S. core CPI unseasonably adjusted 6.6% in September, the highest since August 1982

The annual rate of the U.S. unseasonably adjusted CPI in September fell slightly to 8.2%, the smallest increase since February 2022.The monthly rate of CPI in the United States after seasonal adjustment in September was 0.4%, expected to be 0.20%, and the previous value of 0.10%. The U.S. non-seasonally adjusted core CPI in September was 6.6% annualized, the highest since August 1982.

  1. StarkWare native token is expected to be released in October

StarkWare’s president Eli Ben-Sasson said StarkWare native token is expected to be released in October. But the project will not provide users with free tokens , because all tokens will be locked immediately after release, in preparation for the long-term development of the team.

  1. Google now showing Ethereum wallet balances

Google is now directly providing data about Ethereum addresses when they are searched for.

When an Ethereum address is pasted into the Google search bar, its ETH balance is displayed.

The data is being collected from Ethereum block explorer Etherscan.

About MEXC

MEXC is the world’s leading cryptocurrency trading platform, providing one-stop cryptocurrency trading services for spot, ETF, futures, Staking, NFT Index, etc.,and serving more than 10 million users worldwide. The core team has a solid background in traditional finance, and has professional financial product logic and technical security guarantees in terms of cryptocurrency products and services. In October 2021, MEXC Global won the title of “Best Cryptocurrency Exchange in Asia”. Currently, it supports the trading of more than 1,400 cryptocurrency, and is the trading platform with the fastest launch speed for new projects and the most tradable categories. Visit the website and blog for more information, and follow MEXC Global and M-Ventures & Labs.

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