Lotte Data Communication launches NFT donation campaign for children’s rehab center

UAE’s Royal Office Visits Korea to Further Security Token Collaboration with AIITONEAIITONE, a Korea-based augmented reality firm specializing in security tokens, invited journalists to showcase its strategy to foster business collaborations between South Korea and the United Arab Emirates (UAE) on the occasion of the Korean visit of the Private Office of His Highness Sheikh Ahmed Bin Faisal Al Qassimi.Photo by Ethan Brooke on UnsplashPrivate Office’s return visitThe Private Office is a Dubai-based corporate conglomerate that operates businesses in various areas including real estate, energy, and finance. This visit by the Private Office marks a return visit following AIITONE’s visit to the UAE in July.The conference took place at a hotel in Gangnam, Seoul, and was attended by Lee Jin-yeop, CEO of AIITONE; Bruce Jeong, Chairman of Middle East Investment; and H.H. Sheikh Ahmed Bin Faisal Al Qassimi.Security tokens, CBDCs, smart defenseChairman Jeong, leading AIITONE’s global initiatives, said that their primary endeavor is to set up a Korean branch of the Royal Office. This branch will function as an international business hub, facilitating collaborations across three key sectors: security tokens, central bank digital currencies (CBDCs), and smart defense ventures.The event also featured presentations by AIITONE officials who introduced the company’s focus areas.Kang Man-soo, who leads AIITONE’s defense unit, highlighted the company’s technical expertise in maintenance training equipment, interactive electronic technical manuals, and integrated system support. He pointed out that AIITONE has been actively involved in the development of technical manuals and training simulators for various defense assets, including warships, guided weapons, and fighter aircraft. Kang emphasized that AIITONE’s strategic partnerships with Korean defense firms have propelled their engagement in initiatives aimed at exporting these products to countries such as Indonesia, Malaysia, and Poland.Lee Joo-hyung, the head of AIITONE’s extended reality (XR) content division, revealed the company’s plan to create portable products that can replicate the physical sensations of the real world, including sensations like physical contact and heat. Additionally, Lee introduced MOUM, a metaverse platform that features blockchain-powered security functions and generative artificial intelligence (AI) capabilities.Park Sang-il, who is at the helm of the firm’s security token project, showcased AIITONE’s comprehensive security token platform, which enables users to both issue and distribute security tokens. Notably, the platform is compatible with hyperledgers Besu and Fabric.Since arriving in Korea last Wednesday, the Royal Office has met with representatives from Standard Chartered Bank Korea and lawyers from law firm Kim and Chang, as well as lawmaker Yang Hyang-ja. Additionally, the Royal Office made a visit to smart farms located in South Jeolla Province.H.H. Sheikh Al Qassimi expressed a high regard for South Korea, acknowledging its beautiful natural landscapes and significant economic development. He underlined that this visit serves as an opportunity for the Royal Office to strengthen cooperation between UAE companies and their Korean counterparts, further fostering economic exchanges between the two countries.

A Beijing-headquartered venture capital firm has invested $30 million in Hong Kong’s HashKey Exchange. That’s according to a report published by Bloomberg on Feb. 14, citing unnamed sources understood to be familiar with the matter. HashKey’s capital injection has come from Gaorong Ventures.  The Chinese VC firm was founded in 2014, initially known as Banyan Capital before rebranding as Gaorong Ventures in 2018. The VC firm focuses on early and growth-stage investments, with a specific interest in new technology.  Gaorong has 23 IPO portfolios on its books, together with 30 projects valued at in excess of $1 billion. It has been an early-stage investor in Chinese tech firms such as Chinese shopping platform Meituan and online retailer PDD Holdings.  Last year, the company participated in a funding round for Dongchedi, the car information and trading platform belonging to ByteDance, the parent company of TikTok.Photo by Towfiqu barbhuiya on UnsplashBeyond unicorn statusIn this instance, the funds were invested with HashKey Group weighing in with a post-money valuation in the region of $1.5 billion. That puts the company well beyond unicorn status, which it achieved in a previous $100 million funding round over a year ago. At that time, HashKey didn’t disclose the names of investors other than to state that they were “prominent institutional investors” and “leading Web3 institutions.” It’s understood that the round included both existing and new investors. Surging VC investment in crypto startups This latest investment comes amid a backdrop of a surge in venture capital investment into the crypto sector. Well-known American venture investors Sequoia Capital and Andreessen Horowitz (a16z) invested almost $1.2 billion in crypto projects last month.  In 2024, $13.7 billion was invested in crypto and blockchain startups by venture capital firms, marking a 28% increase on the previous year. In Q4 2024, the United States took first place, accounting for 46% of investment into startups across the market in general. Hong Kong weighed in with 17% in second place.HashKey is also playing its own role in crypto and blockchain startup investment. HashKey Exchange’s sister company, HashKey Capital, is an institutional asset manager that also invests in crypto startups. In recent weeks, the company has invested in SignalPlus, a crypto trading software firm focused on the Asian market, and Kelpr, a Cosmos (ATOM) ecosystem wallet project. More crypto VC investment in 2025In January, HashKey Capital CEO Deng Chao told Cointelegraph that he expected more VC capital investment in crypto startups in 2025. He stated: “As we enter into a supportive macro environment driven by stimulative US policies and the formalization of crypto regulatory frameworks, these macro tailwinds are set to drive more VC investments heading into 2025.” Meanwhile, the overarching HashKey Group is positive in its outlook with regard to the crypto and blockchain sector in 2025. Last month, it outlined that it expects Bitcoin and Ethereum to surge in price, the share of the market held by decentralized exchanges (DEXs) to increase, capital inflows into the sector from institutions to grow, the approval of more crypto ETFs and further development of layer-2 networks over the course of the year.

Gate.io Shrugs Off Withdrawal Concerns Amid Multichain CrisisGate.io, a prominent cryptocurrency exchange, has refuted rumors circulating within the crypto community about withdrawal issues on its platform. On Wednesday, the exchange reassured users that its operations remain unaffected by recent events.Photo by Keller Chewning on UnsplashGate.io confirms smooth operationsGate.io is one of the oldest Chinese Bitcoin exchanges. It moved its corporate headquarters to the Cayman Islands once the Chinese authorities took a hardline stance on cryptocurrencies a few years ago. It also maintains offices in Seoul, South Korea, and is currently preparing to launch a bespoke Hong Kong-based platform.According to the exchange, withdrawals are functioning properly, and the overall operations of the exchange are healthy. It explicitly stated, “There are no issues with our operations or withdrawals as rumored.”Multichain concernsSpeculation emerged on social media on May 24 when Arkham Intelligence reported that members of the separate blockchain project Multichain had transferred $3 million worth of the $MULTI token to Gate.io. Arkham also mentioned other transactions involving Multichain-related tokens, some of which were subsequently suspended for deposit on the leading exchange, Binance.While Arkham did not directly suggest any risks to Gate.io itself, the combination of market activity and other events led to rumors. ‘Coinsumption,’ a Twitter account with nearly 31,000 followers, suggested on May 31 that Gate.io might be facing insolvency problems and advised users to withdraw their funds from the exchange.The ongoing issues with Multichain may well be unrelated to Gate.io. Multichain’s team members recently stated that they are unable to contact their CEO or access project servers. The project has experienced transaction delays over the past few days.Native token price impactGate.io’s native token ($GT) has reportedly been affected by these rumors, as its value has declined by 6.59% over the past 24 hours. In contrast, Bitcoin has only experienced a 1.4% decrease.The $GT token losses can be attributed, in part, to a period of several hours during which the token’s price dropped from $4.92 to $4.49. In isolation, this change represents an 8.7% loss, although there have been partial recoveries and other fluctuations to offset the decline. At the time of publication, the $GT token unit price stood at $4.36.Despite the recent challenges, Gate.io continues to demonstrate significant trading volume. On the most recent day, the exchange recorded approximately $525 million in trading volume, solidifying its position as one of the largest centralized exchanges with sub-billion daily trading volumes.The almost ten-year-old exchange is among several cryptocurrency exchanges preparing to comply with upcoming regulations in Hong Kong. It aims to operate alongside other platforms, such as CoinEx, OKX, Huobi, and BitMEX, as they adapt to the regulatory framework being implemented in the region.Gate.io has dispelled rumors of withdrawal issues, assuring users that its operations are functioning normally. Notwithstanding that, as with everything in the crypto space, the facts and circumstances can change in an instant. Therefore, it’s a topic that is worthwhile watching as further news emerges relative to ongoing issues on the Multichain project.