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DDC Enterprise, a Chinese company headquartered in Hong Kong and listed on the New York Stock Exchange (NYSE), has become the latest corporation to add Bitcoin (BTC) to its balance sheet.Photo by Michael Förtsch on UnsplashInitial 21 BTC purchaseThe plant-based food products company which operates under the “DayDayCook” brand published a press release via Business Wire last Friday announcing its first Bitcoin purchase. It’s likely that there was a symbolic element to the firm’s first Bitcoin purchase, given that it bought 21 BTC while Bitcoin has a supply cap of 21 million BTC. The company completed the transaction via share exchange with an investor group, issuing 254,333 class A ordinary shares while acquiring the 21 BTC at a market price of $2,283,667. DDC outlined that it plans to make two further purchases over the coming days of 79 BTC, at which point the firm’s corporate treasury will hold 100 BTC. Targeting 5,000 BTCThe company has a much more ambitious Bitcoin accumulation plan, however. Over the course of the next three years, it is targeting the establishment of a Bitcoin treasury holding 5,000 BTC. At current market pricing, that would amount to a Bitcoin treasury of around half a billion dollars in value. In the near term, the firm is targeting the acquisition of 500 BTC by the end of this year. DDC Founder and CEO Norma Chu described the development as a “pivotal moment” in the company’s evolution. She said that this plan reflects DDC’s “confidence in Bitcoin as a store of value,” while demonstrating the firm’s interest in pursuing innovation. “We are fully committed to ensuring the success of this strategy, which aligns with our vision to drive long-term value for our shareholders,” she added. Web3 innovationAccording to a DDC website, the company has innovative plans that go beyond just a Bitcoin treasury. It plans to deepen community engagement through the use of NFT loyalty programs and immersive Web3 experiences. It also plans to leverage blockchain transparency in its efforts to build greater community engagement. The website sets out a vision whereby DDC can blend its culinary heritage with next-generation technologies.  The company suggests that real-world asset (RWA) tokenization has the potential to revolutionize consumer engagement, while offering the possibility of enabling fractional ownership of product lines. It has set out a roadmap where it outlines having established a digital platform in 2012, going on to engage in content creation and content commerce over the course of a decade.  The firm carried out an initial public offering (IPO) in 2023 and from 2025 onwards, aside from its Bitcoin treasury strategy, it plans to integrate RWA tokenization and Web3 technology into its business, while also adopting AI technologies to enhance supply chain efficiency. DDC is one of a growing list of corporations to adopt Bitcoin as a strategic asset over the course of the past 18 months. Earlier this month, another Chinese company, Nasdaq-listed Jiuzi Holdings, an electric vehicle (EV) retailer, announced that it had adopted a plan to acquire 1,000 BTC. Hong Kong-listed game developer Boyaa Interactive holds 3,350 BTC.

American publicly-listed crypto exchange platform Coinbase is understood to be in talks with Indian regulators with a view towards enabling the re-entry of the exchange into the Indian market. News of the development emerged via a TechCrunch report published on Feb. 13. The publication cited two anonymous sources familiar with the matter. According to those sources, the American crypto exchange platform is in talks with officials from India’s Financial Intelligence Unit (FIU), a government agency that collects financial data regarding offenses under India’s Prevention of Money Laundering Act. Photo by Naveed Ahmed on UnsplashRegulatory pushbackThe FIU has been a key player in pushing back against exchanges that it believed were non-compliant in participating within the Indian market over the course of the past two years. In December 2023, the government agency moved to block overseas exchange businesses that it deemed to be operating illegally within the Indian market from engaging with Indian investors. That action was taken following calls from native Indian exchanges for a level playing field. At the time, they made the case to the Indian authorities that offshore exchanges were not operating in compliance with local regulations. Show-cause notices were issued against nine platforms at that time, although Coinbase wasn’t one of them.  The company had taken the measure of disabling new user sign-ups in India in September 2023. Prior to that, Coinbase CEO Brian Armstrong had complained about “informal pressure” being exerted by the Royal Bank of India (RBI). He said that the central bank was exerting “soft pressure” behind the scenes. On this attempt to re-enter the market, a spokesman for the company made the following statement to Cointelegraph: “Coinbase is excited by the opportunities in the Indian market and intends to comply with applicable regulatory requirements, but we have nothing to announce regarding a FIU registration at this time.” Kyle Chasse, founder of Web3-focused venture capital firm MV Global, outlined on X that it was “massive news,” adding that if the company re-enters the market, “huge liquidity could flow in from this.” Local partnersA source familiar with the matter told Decrypt that Coinbase wants “to do the same thing this time, but with local partners on board and a more clear strategy, which they didn’t have last time.”  The publication suggested that Coinbase executives will visit India in March to attend meetings with FIU officials. The timing of any official service re-launch in India will depend upon the regulatory steps that need to be followed by the company and the time taken to accomplish these requirements. In a related development, last week, Coinbase’s Chief Legal Officer (CLO), Paul Grewal, joined the board of directors of the U.S.-India Business Council, part of the U.S. Chamber of Commerce. While commenting on the appointment, Grewal spoke about a number of positive developments in India that are likely factors in the company’s renewed efforts to re-enter the Indian market. He stated: “India has one of the largest and fastest-growing web3 ecosystems in the world, with a booming developer community, pioneering startups, and bold institutional adoption. Since 2018, its share of global web3 developers has quadrupled to 12%, the highest growth among emerging markets.”

LG Group Hosts Super Start Day to Promote Innovation and Collaboration in Blockchain and MoreSouth Korean conglomerate LG Group recently hosted its open innovation festival at LG Science Park in Seoul from Thursday to Friday. The festival, dubbed Super Start Day, is an annual event dedicated to discovering and supporting promising startups. Since its inception in 2018, it has welcomed more than 260 startups from 26 countries and over 20,000 participants.Photo by Johannes Plenio on UnsplashForging novel technologiesThis year, 40 startups from various fields, including artificial intelligence (AI), biotechnology, clean technology, and lifestyle, as well as small and medium-sized enterprises (SMEs), showcased their technologies and services while seeking out opportunities for collaboration. Among the participants were companies like Zkrypto, which developed a public blockchain voting system that prevents fraudulent voting; Basgen Bio, which created a drug development platform based on genomic data; and Netspa, which possesses the technology to extract recycled materials from fishing nets.Nine startups supported by LG Group also shared their joint achievements from over the past year. Some noteworthy examples include Ujura Company, which is developing technology to detect and predict the development of diseases in domestic pets based on behavioral data, and We Meet Mobility, which offers AI-based solutions for optimal logistics operations and transportation.Additionally, speakers like Ahn Ikkjin, CEO of Moloco, the first unicorn company in Silicon Valley founded by a Korean, and Kim Dong-Su, CEO of LG Technology Ventures, LG’s corporate venture capital arm in Silicon Valley, shared their insights on global expansion strategies and investment trends.Month-long celebration of innovationLG is set to host more events this month at LG Science Park, including the LG Software Developer Conference from September 14 to 15, aimed at sharing achievements in research and development, as well as Culture Week from September 20 to 22, where LG employees, families, local residents, and industrial experts can interact. These events, along with Super Start Day, are collectively referred to as LG SPARK, which is dedicated to promoting innovation and collaboration across diverse sectors.