CPLABS and Protocol Capital to collaborate on blockchain-enhanced autonomous driving in Qatar

SynFutures, the Singapore-headquartered decentralized derivatives exchange specializing in crypto perpetual futures trading, has taken its V3 from public testnet through to mainnet launch on the Blast layer two network. Bringing permissionless perps to BlastTaking to Medium on March 1, the company outlined that “we’ve officially brought permissionless perps to Blast.” With the launch, the project is demonstrating iterative progression. Back in October of last year, the company outlined that it had launched V3 on public testnet, while also announcing details of a $22 million Series B funding round at that time. SynFutures' decision to roll out V3 on the Blast mainnet aligns with the layer two network's rapid ascent in the crypto space. Blast itself launched on Feb. 29 and in the process the network unlocked around $2.3 billion in staked crypto which had remained locked up until that point. The optimistic rollup-based network allows transactions to be executed off-chain, all the while leveraging the security provided by the Ethereum blockchain network. Blast has managed to garner significant value on-chain due to the 5% annual yield it offers users on ether and stablecoins that network participants accrue from staked ETH.Photo by Alina Grubnyak on UnsplashPoints rewards programAlongside the V3 launch, SynFutures has introduced a points rewards program, christened Oyster Odyssey. This initiative aims to incentivize user engagement on the platform, with V3 users set to qualify for the upcoming Blast airdrop as well. "Interacting with SynFutures can qualify users for Oyster Odyssey points as well as Blast points," Rachel Lin, co-founder and CEO of SynFutures, disclosed to The Block. Lin added:"We're also committed to giving 100% of our Blast developer airdrop back to users, so they'll enjoy plenty of benefits." Gearing up for native token launchIt also appears that SynFutures is gearing up for the launch of its native token. In its blog post, the firm suggested that it was pleased to reveal that it is “exploring the path to a token.” The company promises that launch details and an associated timeline will be disclosed in the not-too-distant future. Following V3 public testnet launch last year, the project explored various blockchain options, including Polygon and zkSync Era, before ultimately settling on Blast. While the team remains committed to a multi-chain expansion for V3, with future deployments under consideration, Lin has suggested that the immediate focus lies in driving adoption and volume on Blast. While V2 of the platform still operates on the Polygon proof-of-stake chain, support for it is gradually phasing out as SynFutures prioritizes the V3 rollout. Meanwhile, V1 has already been phased out, with both iterations collectively processing over $23 billion in cumulative trading volume to date. SynFutures' journey thus far has been supported by substantial funding, with approximately $38 million raised to date. Notable backers include Pantera Capital, HashKey Capital and SIG DT Investments, a unit of the Susquehanna International Group, among others.  

Amberdata Expands into Asia-Pacific with New Hong Kong OfficeAmberdata, a provider of digital asset data and analytics for institutional customers, is making significant strides in expanding its presence with the announcement of a new office in Hong Kong, marking its entry into the Asia-Pacific (APAC) region.Photo by Pixabay on PexelsMarket data offeringThe company published a press release on Tuesday, providing details on the milestone. The strategically positioned Hong Kong office will provide local sales and support to APAC customers, granting them access to Amberdata’s suite of products. These offerings include extensive on-chain, DeFi, spot, and derivatives market data, along with valuable market intelligence.Tongtong Gong, the COO and Co-Founder of Amberdata of the US-based firm, will spearhead the company’s operations in the region. Gong, expressing her excitement about returning to her home country, shared her aspirations to contribute to the growth of Amberdata’s presence in Asia.She highlighted the burgeoning development of Web3 in Hong Kong, which benefits from a clear regulatory environment and strong government support, making it an exceptional location for the new office.Industry trends eastwardsThe expansion into APAC by Amberdata aligns with the global trend of accelerating institutional adoption of cryptocurrencies and digital assets. By addressing the increasing demand for institutional-grade data infrastructure and analytics, Amberdata is positioned to serve as a crucial partner to financial institutions.The company’s foray into APAC is yet another demonstration of a trend among US-based digital assets companies to establish themselves in the east, where the regulatory environment is developing in a much more progressive, forward thinking way by comparison with the United States.Shawn Douglass, the CEO of Amberdata, said that the move was with a view towards expanding its presence in Asia, “to deliver the highest quality digital asset data and analytics to institutional investors in the region.”Hong Kong’s crypto credentialsHe emphasized the growing prominence of Hong Kong as one of Asia’s leading crypto hubs and highlighted the city’s suitability as the location for their new office. The establishment of a local office enables the company to effect a more direct sales and support pipeline to both new and existing customers within APAC.Amberdata holds a paramount position as the leading provider of digital asset data. Their comprehensive insights into blockchain networks, crypto markets, and decentralized finance seek to empower financial institutions with invaluable data for research, trading, risk assessment, analytics, reporting, and compliance.Also on Tuesday, the company added new product features. Taking to Twitter, Amberdata outlined the addition of derivatives data relative to a well-known trading and futures options platform, the Chicago Mercantile Exchange (CME). Service users are also now being given complete visibility on externally owned accounts and wallets within lending and borrowing protocols.As financial institutions increasingly enter the digital asset class and participate in digital asset markets, Amberdata’s robust infrastructure is being positioned as a vital component, enabling them to make informed decisions and navigate the dynamic landscape effectively.

Bitget Report Finds Gen Z Dominates Crypto Copy TradingA recent report by Bitget, the Seychelles-headquartered crypto exchange, sheds light on the growing trend of copy trading among younger investors, particularly Gen Z.Photo by rc.xyz NFT gallery on Unsplash44% under 25The report, released on Thursday, reveals that an impressive 44% of all copy traders on the platform are under the age of 25, indicating a strong inclination among this generation towards this type of investment and trading strategy.Copy trading, or social trading, involves emulating the trading activities of established investors. Bitget’s findings indicate that the younger demographic is more receptive to this approach, with individuals aged 25 to 35 constituting just under one-third of all copy traders. Comparatively, individuals aged 35 to 55 represented 17% of copy traders, while those over 55 constituted a mere 7%.Reliance on influencersInterestingly, this trend aligns with Generation Z’s penchant for seeking advice from social media influencers. Bitget’s report highlights that Gen Z’s tendency to turn to these influencers for investment decisions could be a driving factor behind their affinity for copy trading.A survey by Forbes Advisor in January found that approximately 80% of both Gen Z and millennials rely on financial advice from social media platforms. Notably, platforms like YouTube, Reddit, and TikTok have gained their trust, with half of the respondents claiming to have profited from advice received.The report also reinforces crypto’s status as the preferred investment choice among Gen Z. A joint study by the CFA Institute and the Financial Industry Regulatory Authority (FINRA) Foundation in May revealed that crypto was the most popular investment option for Gen Z in the United States, a striking 44% of Gen Z investors initiated their investment journey with cryptocurrencies, surpassing the 35% of millennials who did the same.Geographical differencesThe trend extends beyond the US, with 43% of British and 35% of Canadian Gen Z investors indicating crypto as their inaugural investment.Geographically, Bitget’s report showcases intriguing patterns among its copy-trading user base. While nearly a third of users hail from Western Europe, almost half originate from East or Southeast Asia. This distribution highlights the global reach of the platform and the appeal of copy trading across diverse regions.Of note, despite constituting only 1% of Bitget’s global copy traders, a remarkable 62% of African users expressed interest in copy trading. This proportion stands as the highest among all regions surveyed, reflecting a growing appetite for innovative investment methods on the African continent.Bitget’s report underscores the evolving landscape of investment practices, with Generation Z at the forefront of embracing new approaches like copy trading. It also builds on prior initiatives and research undertaken by the firm. In May Bitget launched a corporate social responsibility (CSR) project titled “Blockchain4Youth.” That initiative revealed that Bitget understands that the younger generation is where the greatest opportunity for mass market adoption lies for crypto and Web3.As the influence of social media on financial decisions continues to rise, the crypto industry may see further shifts in investment patterns and strategies among different demographic groups.