Terraform Labs Co-Founder Indicted in South Korea

Animoca Brands, a Hong Kong-based Web3 company focused on blockchain gaming and NFTs, has signed a memorandum of understanding (MOU) with DayDayCook (DDC) Enterprise Limited in a deal that will see Animoca allocate up to $100 million in Bitcoin with that capital to be exposed to yield enhancement strategies operated by DDC.Photo by Erika Fletcher on UnsplashBitcoin treasury strategyIn a press release published to its website, Animoca Brands claimed that the deal accelerates the Bitcoin accumulation strategy pursued by DDC. Back in May, DDC Enterprise, a Chinese company listed on the Nasdaq in the U.S. while headquartered in Hong Kong, became one of many Nasdaq-listed companies recently to add Bitcoin to its balance sheet.  At that time, it made a symbolic initial 21 BTC purchase, bearing in mind the leading digital asset has a supply cap of 21 million BTC. The company has set out an ambitious plan to build up a Bitcoin treasury of 5,000 BTC over the course of three years. DDC Founder Norma Chu described the development as a “pivotal moment.” ‘Pristine monetary asset’On this occasion, Chu described the partnership with Animoca as a “transformative step,” reflecting the companies’ “shared vision to accelerate Bitcoin’s role as a pristine monetary asset.” As part of the partnership, Animoca Brands Co-Founder and Executive Chairman, Yat Siu, will join DDC’s Bitcoin Visionary Council (BVC). The company established the BVC recently in order to put strategic leadership and guidance in place so that DDC’s Bitcoin-related treasury operations are conducted in accordance with industry standards so as to maximize value creation in the long term. Siu said that the arrangement enables Animoca Brands “to enhance the value of [its] blockchain technologies and maximize the value of [its] Bitcoin holdings.” Commenting further on the partnership, he added: “We will focus on developing strategies to enhance Bitcoin’s value proposition, leveraging DDC’s commitment to advancing corporate Bitcoin treasury solutions." Siu told Cointelegraph that Animoca Brands' belief in the abilities of the DDC founder played a large part in the company establishing the partnership. He said that her background and experience enable her to “bridge the East and West to successfully navigate markets on both sides of the planet,” adding that “she has good appeal and connections to the Chinese market, one of the largest for crypto adoption, while also running a NASDAQ-listed company.” On BitcoinTreasuries.net, a Bitcoin treasury data hub, DDC is listed as 47th in terms of corporations globally that have adopted a Bitcoin treasury strategy, ranked by the amount of Bitcoin that they have accumulated. The website suggests that DDC currently holds 368 BTC, valued at approximately $43.2 million. Following its initial purchase of 21 BTC in May, the company followed up with the acquisition of 38 BTC in June. On July 1, it announced that it had raised $528 million to expand its Bitcoin holdings, with confirmation of a further purchase of 230 BTC by July 7.

Binance co-founder and former CEO, Changpeng Zhao (CZ), has partnered with the authorities in the Central Asian republic of Kyrgyzstan to provide advice on crypto regulation and the development and adoption of blockchain technology. It’s understood that CZ has signed a memorandum of understanding (MOU) to this effect with the National Investments Authority (NIA), a state authority that falls under the direction of the President of the Kyrgyz Republic. The NIA promotes foreign direct investment, assisting foreign companies in developing business opportunities within Kyrgyzstan. Photo by Abai K on UnsplashCrypto & blockchain ecosystem developmentIn a statement published on X on April 3 by the President of the Kyrgyz Republic, Sadyr Zhaparov, the president outlined that in accordance with the MOU, the parties will cooperate on the development of the crypto and blockchain ecosystem. Breaking that down further, the president said that this cooperation will involve the provision of technical, infrastructural and technological support and expertise. Additionally, it will involve collaboration towards the implementation of related educational initiatives. Zhaparov added: “This cooperation marks an important step towards strengthening technological infrastructure, implementing innovative solutions, and preparing highly qualified specialists in blockchain technologies, virtual asset management, and cybersecurity. In light of the rapid global evolution of digital technologies, such initiatives are crucial for the sustainable growth of the economy and the security of virtual assets, ultimately generating new opportunities for businesses and society as a whole.” ‘Crypto adoption one country at a time’CZ reacted to this X post by the President of the Kyrgyz Republic, stating: “Kyrgyzstan. Crypto adoption, one country at a time.” He also remarked that this event had brought Zhaparov to X, given that this was his first post on the platform, with an account registered last month. Steve Milton, co-founder and CEO of Web3 wallet project Fintopio and a former Binance marketing executive, commented on the development. Milton stated that Kyrgyzstan is a forward-thinking country, while interpreting CZ's involvement as a step that will help move adoption forward. Additional advisory activityIn another X post, CZ provided details on his advisory activity. He stated: “I officially and unofficially advise a few governments on their crypto regulatory frameworks and blockchain solutions for gov efficiency, expanding blockchain to more than trading. I find this work extremely meaningful.” Reports emerged in January that Malaysian Prime Minister Datuk Seri Anwar Ibrahim had discussed digital finance policy matters with CZ. The Binance co-founder said that those discussions revolved around digital asset regulation and risks related to such assets. Furthermore, cross-border collaborations and collaborations between industries were discussed. In December CZ met with the King of Bhutan. Prior to that visit, he posted a link to an article on X that outlined that the Kingdom of Bhutan has accumulated in excess of $1 billion in Bitcoin. At that time, the Binance co-founder said that many nation states will use Bitcoin and other cryptocurrencies as reserve assets. In the past, commentators have identified Kyrgyzstan as having considerable potential for crypto mining, given ample hydroelectric generation within the mountainous country. However, crypto mining tax receipts as of the end of last year suggest that crypto mining still remains a niche activity in the Kyrgyz Republic.

Treehouse expands NFT data offering through Origins acquisitionTreehouse, a Singapore-based Web3 data firm, has bolstered its presence in the NFT analytics market with the recent acquisition of Origins Analytics, an NFT analytics platform. This strategic move is aimed at enhancing Treehouse’s NFT product offerings and expanding its capabilities in the flourishing NFT ecosystem.Photo by Andrey Metelev on UnsplashAcquisition synergyTreehouse announced the acquisition on Thursday, via a press release published by PR Newswire. Origins Analytics has distinguished itself as a leader in NFT data analysis. The enterprise had raised $4 million in funding in 2022, going on to grow a community of over 10,000 users. The enterprise-grade platform offers valuable insights and services to NFT enthusiasts and investors.Origins Analytics proficiency in both on-chain and off-chain data analysis had made it a highly sought-after name in the NFT space. With this acquisition, Treehouse is doubling down on its intention to deliver comprehensive NFT analytics services to its clientele.In reorganizing the businesses following acquisition, the founding team of Origins Analytics will be joining forces with Treehouse. Treehouse’s management believes that this synergy of expertise from both companies will ensure a seamless transition and integration of Origins’ capabilities into Treehouse’s existing suite of offerings.Broadening service offeringThe integration of Origins Analytics opens up new avenues for Treehouse’s service portfolio. As a consequence, Treehouse will now be able to offer an algorithmically tagged NFT wallet notification system. This will allow its clients to anticipate and better leverage algorithms to deliver real-time updates on NFT transactions and wallet activity.Treehouse is set to introduce NFT analytics bots designed to provide comprehensive data insights and market trends, empowering users to make informed decisions in the dynamic NFT sector. Additionally, the company will go forward to offer an NFT wallet profiling API, granting users deeper insights into NFT wallet activity and aiding in trend identification and opportunity spotting.CEO of Treehouse, Brandon Goh, conveyed his enthusiasm for the acquisition and the broader NFT analytics market, stating:“Treehouse is excited to make this move into NFT analytics. This strategic acquisition underscores our commitment to our clients, many of whom have NFT exposures. Our team is gearing up to integrate Origins’ system into our flagship product, Hyperion, confident that its technology aligns with our users’ needs and paves the way for us to serve the wider NFT community. Despite the bear market, Treehouse is expanding and is actively looking to acquire synergetic businesses.’’Expansion ambitionsTreehouse’s decision to acquire Origins Analytics comes hot on the heels of its successful seed round in 2021, which saw it raise $18 million from prominent investors, including Lightspeed, MassMutual, Binance, Mirana, LeadBlock, Jump, GSR and Wintermute. This recent acquisition stands as a testament to Treehouse’s ambition to broaden its Web3 portfolio and provide cutting-edge services to its valued clients.While the exact financial terms of the acquisition remain undisclosed, Treehouse clearly views this move as a strategic investment in the rapidly expanding NFT market. The company demonstrates confidence in its ability to harness the potential of the NFT sector, even in the face of challenging market conditions.