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World Liberty Finance (WLFI), a DeFi project backed by Donald Trump, has made significant cryptocurrency purchases, including $10 million in Ethereum, which spurred a 6.86% price increase. WLFI also bought $1 million in Chainlink, leading to a 20.56% surge, and $1 million in AAVE. With Justin Sun investing $30 million and joining as an advisor, WLFI's influence in the DeFi space continues to grow, holding $74.36 million in crypto assets.
TX Group's investment in the now-insolvent Lykke crypto exchange has turned into a complete loss, with the publishing house's 2 million franc stake in Lykke Coins written off entirely. Despite still holding the worthless tokens, TX Ventures no longer lists Lykke as a portfolio company, as it only holds tokens and not shares. The situation worsened for Lykke after a significant cyber attack in 2022, leading to a loss of 22 million francs in cryptocurrency assets.
Binance Labs has invested in Perena, a stablecoin infrastructure protocol on Solana, to enhance stablecoin adoption within the ecosystem. This funding will support Perena's mission to provide traditional banking efficiency on the blockchain, allowing users to mint stablecoins and earn yield on tokenized real-world assets. Additionally, Travala has launched a Treasury Reserve Plan to hold reserves in Bitcoin and its native AVA token, aiming to strengthen its financial foundation and expand its blockchain-powered travel solutions.
Aptos Foundation is set to open a new office in Abu Dhabi's ADGM, marking a significant step in its mission to enhance the global blockchain ecosystem. This strategic move aims to foster partnerships and support innovative projects in a region recognized for its leadership in Web3 adoption. The foundation's presence in the UAE will facilitate collaboration with local developers, institutions, and investors, further accelerating blockchain adoption.
Venture capital firm DNA Holdings has launched a deal desk for tokenized investments in blockchain projects, targeting high-net-worth investors and other venture firms. The platform, operating on the Chintai network, features seven startups seeking funding between $325,000 and $2 million, with checks starting at $2,500. Investors benefit from an active secondary market, enhancing liquidity options post-purchase, while the firm aims to host over 50 special purpose vehicles raising up to $10 million.
On December 9, 2024, the inaugural Bitcoin MENA Conference commenced in Abu Dhabi, featuring an exclusive networking event hosted by Malak Albaw and Reni Achkar, co-hosted by n8 Capital. This gathering attracted hedge funds, institutional investors, and blockchain innovators, highlighting Abu Dhabi's rise as a global blockchain hub amid a significant milestone of Bitcoin reaching $100,000. The conference showcased prominent speakers, including Eric Trump and Binance's Changpeng Zhao, emphasizing the UAE's growing role in the cryptocurrency landscape with $34 billion in transactions over the past year.
General Atlantic is expanding its presence in the Gulf region with a new office in Abu Dhabi, reflecting a trend among Western firms in the Middle East. CEO Bill Ford indicated the possibility of a Gulf-focused fund, highlighting the region as the next major entrepreneurial hotspot.
Investor Dan Tapiero predicts significant growth for US-based decentralized finance (DeFi) over the next two years, following its previous exodus due to regulatory challenges. He highlights that institutions are beginning to recognize the potential of DeFi, which currently holds only 2% of the total $4 trillion in the broader financial market. With platforms like Coinbase and Kraken facilitating access, Tapiero believes the total value locked in DeFi, currently at $136.232 billion, is poised for substantial expansion.
NebulaStride (NST) has launched its presale, offering tokens at $0.02 as part of its initiative to enhance the decentralized finance (DeFi) ecosystem through advanced smart contracts and financial tools. With a total supply of 2 billion NST, the project aims to address inefficiencies in traditional finance and promote accessibility and security. The token distribution model supports long-term growth, with a focus on strategic partnerships and community development.
A new Ethereum-based layer-2 project, Movement (MOVE), has launched with a fully diluted valuation exceeding $7.7 billion, supported by major exchanges Binance and Upbit. Trading pairs include MOVE/BTC and MOVE/USDT, with the token currently priced at $0.77, marking a 13.8% increase since its debut. Venture capitalist Chris Burniske highlights the potential of the Move ecosystem, which also includes projects like Aptos and Sui, suggesting it could be a significant area to watch.
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