Web3🌕Monday Roundup: Thailand's Crypto Regulations, Layer 2 Coin Surges, Shiba Inu Funding, and Man City's NFT Partnership
1. Thailand Plans to Block Unauthorized Crypto Platforms
2. Layer 2 Coins like STX, ELA, SAVM Outshine BTC Post-Halving
3. Shiba Inu Raises $12M for New Blockchain
4. Man City and OKX Launch Exclusive NFT-Linked Jerseys
Keep reading for further insights!✨
Welcome to the dawn of another week in the dynamic world of Web3! As Monday unfolds, we're greeted with a flurry of exciting developments shaping the cryptocurrency and blockchain landscape. From regulatory maneuvers in Thailand to the soaring success of Layer 2 coins, the day promises to be brimming with noteworthy stories. Let's embark on a journey through today's Web3 headlines, where innovation meets opportunity and where digital assets pave the way for a decentralized future. Join us as we delve into the latest updates that are reshaping the way we interact with technology and finance in this ever-evolving ecosystem.
1. Thailand Plans to Block Unauthorized Crypto Platforms
Thailand is taking proactive steps in crypto regulation, planning to block unauthorized platforms as directed by the SEC. Users will have a transitional period to manage accounts and withdraw assets before the blockade. This measure reflects the government's commitment to combat online criminal activities and uphold regulatory standards. The announcement urges users to promptly withdraw assets from affected platforms, minimizing disruptions while enforcing regulatory objectives. Thailand follows the lead of countries like India and the Philippines, fortifying regulatory frameworks to create a secure digital asset environment. Despite fostering crypto innovation, the nation emphasizes stringent custodian requirements to ensure investor protection and financial stability. Binance's potential entry into the Thai market underscores the significance of complying with Thailand's regulatory directives, reflecting a broader trend of global regulatory alignment in the crypto space.
Sahana Kiran
2. Layer 2 Coins like STX, ELA, SAVM Outshine BTC Post-Halving
Bitcoin Layer 2 tokens, addressing scalability on the Bitcoin blockchain, have surged 5% to 20% post-halving, surpassing BTC's performance. STX, the native token of Stacks, gained nearly 20% to $2.87 after the halving reduced coin emissions. In contrast, Bitcoin saw a modest 4.7% increase to $66,300. Other Layer 2 tokens like Elastos’ ELA and SatoshiVM’s SAVM rose 11% and 5% respectively since the halving. These Layer 2 solutions aim to enhance scalability and transaction speed on the Bitcoin network by processing transactions off the main chain.
Omkar Godbole
3. Shiba Inu Raises $12M for New Blockchain
Shiba Inu raised $12 million by selling its upcoming token, TREAT, to global venture capital investors. The sale, including pre-seed and seed rounds, valued the project at $75 million to $200 million. TREAT will serve as the utility and governance token for Shiba Inu's new Layer 3 blockchain on Shibarium. Leveraging Zama's fully homomorphic encryption, the blockchain aims to enhance privacy and trust while complying with regulatory standards. It plans to release a testnet in Q3 followed by a mainnet launch. The ecosystem, comprising SHIB, BONE, and LEASH tokens, focuses on providing benefits and perks to its extensive community while ensuring data security.
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4. Man City and OKX Launch Exclusive NFT-Linked Jerseys
Manchester City collaborates with OKX to launch an NFT collection, "Unseen City Shirts," offering unique jerseys and matchday experiences. Fans can mint digital collectibles on the OKX app, with varying rarity levels determining access to redesigned football shirts. Artist Christian Jeffery hand-paints the limited edition jerseys, featuring Lancashire rose and Manchester worker bee designs. Algorithmically determined rarity grants winners exclusive experiences, from play-on-pitch opportunities to stadium tours and hospitality tickets. OKX users can mint NFTs at no cost on the marketplace, fostering engagement with Web3 technology. Nuria Tarré, Chief Marketing Officer of Manchester City, emphasizes the club's commitment to exploring digital ownership and Web3 innovations, aiming to attract tech-savvy audiences. OKX's CMO Haider Rafique highlights the strategic partnership, laying the groundwork for utility-based ecosystems and advancing sports engagement in the evolving Web3 landscape.
Gareth Jenkinson
As we bid farewell to Monday's whirlwind of news, let's carry forward the insights gained and stay tuned for the next chapter in this fascinating journey. Remember to stay informed, stay engaged, and stay curious as we continue to navigate the ever-changing landscape of Web3. Until next time, may your ventures be fruitful, your investments wise, and your enthusiasm for the future of finance remain undimmed. Thank you for joining us on this enlightening exploration, and we look forward to embarking on the next adventure together.
