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Weekly Blockchain Industry Trends: 32 Funding Rounds, Regulatory Policy Updates, EIP-1559 Included in Ethereum Upgrade
This week, there were a total of 32 investment and financing projects announced in the blockchain sector, involving an amount of approximately $309 million, covering multiple fields such as digital asset management, trading platforms, mining, protocols, Decentralized Finance, and NFTs.
Regulatory trends:
Inner Mongolia plans to shut down all virtual currency mining projects by the end of April to ensure energy consumption targets are met. The IRS has updated documents confirming that purchasing cryptocurrency with fiat currency does not require reporting. The bank in Bogotá, Colombia has launched a cryptocurrency pilot program, allowing some customers to trade cryptocurrencies on its platform. The Vietnamese Ministry of Finance has warned about the risks of cryptocurrency trading, urging listed companies and others not to provide trading services for cryptocurrencies. The Nigerian SEC has committed to developing a regulatory framework for digital assets to promote financial inclusion.
In the cryptocurrency industry:
EIP-1559 has been officially incorporated into Ethereum's "London" hard fork upgrade, expected to launch in July. Huobi Asset Management has received approval from the Hong Kong Securities and Futures Commission to invest in a virtual asset portfolio. The Filecoin network has been upgraded to V10. The U.S. SEC has rejected XRP holders' petition to amend the Ripple lawsuit. Tether has encountered extortion but stated it will not pay the ransom. TON investment institutions are demanding Telegram compensate $100 million for the failure to launch TON. Cryptocurrency custody company BitGo has obtained a trust license from the New York State Department of Financial Services.
Mining aspects:
Argentinian startup accelerator Grupo Neutrón has invested millions of dollars to launch a cryptocurrency mining business. The listed mining company Bitfarms has ordered 48,000 new mining machines. Neptune Digital Assets has announced that it will start Bitcoin mining operations. American Bitcoin miner Blockcap has announced plans to purchase an additional 8,400 mining machines.
Investment and financing aspects:
Multiple projects such as ShadowsNetwork, Konomi, Kine, MatterLabs, Tidal Finance, BCB Group, and TaxBit have completed a new round of financing. The Fantom Foundation received a $20 million investment from BlockTower Capital. Xiaoying Technology will invest $10 million in a fund managed by Dragonfly Ventures. PayPal is acquiring cryptocurrency custody company Curv. FD7 Ventures is investing in the Bitcoin credit card Bitcoin Black.