Rotonda and Bithumb META to Co-Host Next Block 2023 Conference for Web3 Collaborations

ZkLink Snags $10M Funding Ahead of Mainnet LaunchZkLink, a layer 2 multi-chain blockchain network project based out of Singapore, has secured $10 million in funding in advance of its mainnet launch which is scheduled for Q3, 2023.Photo by Markus Winkler on UnsplashStrategic funding roundThe Singaporean project offers a blockchain infrastructure layer that enables the ability to trade digital assets across various disparate blockchain networks. Coinbase Ventures, the investment arm of US cryptocurrency exchange Coinbase, focuses its attention on early-stage cryptocurrency and blockchain projects.That’s precisely why it has now participated in a $10 million investment in the Singaporean start-up, given that the ZkLink network doesn’t launch on mainnet for a number of months yet. Other participants in the funding round included Ascensive Assets, SIG DTI, BigBrain Holdings, Efficient Frontier, among others.In posting news of the funding to social media, ZkLink confirmed that the fresh strategic funding round has brought total funding to date to $18.5 million. “The funds raised take zkLink a step further to envision a multi-chain future with unified liquidity and seamless multi-chain user experience while remaining fully trustless and self-custodial,” the project stated.Its previous $8.5 million funding round was completed in October 2021. Among the early investors on that occasion were Arrington Capital, DeFi Alliance, Huobi Ventures, Ascensive Assets, Morningstar Ventures, GSR, Marshland Capital, Skynet Trading, ZBS Capital, and others. New York-based blockchain financing and investment platform, Republic Crypto, was the lead investor at that time.Bridging assets securely acrossZkLink uses zero knowledge technology in order to connect various layer one and layer two networks. A zero knowledge proof is the core innovation that the approach relies upon, with the proof presenting as a cryptographic technique that ensures that no data is revealed during a transaction, save for the exchange of some known value already evident to both prover and verifier.That approach makes for efficient cross-chain bridging, guaranteeing strong security without external trust assumptions. By connecting various layer one and layer two networks, zkLink claims that it empowers the next generation of decentralized trading products.Developers can access ZkLink application programming interfaces (APIs) in order to create order book decentralized exchanges (DEXs), NFT marketplaces, among other use cases. The project is harnessing zero knowledge technology to abstract away all the complexity of multi-chain trading while keeping it ultra secure and true to the ethos of crypto.A multi-chain futureWith blockchain networks being highly fragmented, the concept of a multi-chain future is one that is being increasingly embraced within the crypto space. Various projects have been launched in an effort to effect such a scenario. However, the first generation of bridging solutions have proven to be weak from a security perspective. Zero knowledge technology is seen as a potential solution to this issue.Effecting a seamless multi-chain will also bring about greater efficiencies. As a case in point, currently USDT-Ethereum and USDT-Solana exist as separate assets on distinct blockchains representing the very same USDT stablecoin. With seamless bridging, there would be no need for the duplication.In recent days, the ZkLink project team has been busy working on safety features related to securing decentralized finance protocols. In a press release associated with that work, ZkLink Co-Founder Vince Lang stated: “It is unacceptable that billions of dollars are lost each year due to custody fraud or cross-chain bridge exploits, so we encourage other DeFi protocols to conduct the same test to prove self-custody of user’s funds.”

BSN Foundation launches in Singapore with five global membersThe BSN Foundation, a Singapore-based organization dedicated to building global blockchain infrastructure, on Thursday officially announced its five founding members from different regions and sectors.Photo by Julien de Salaberry on UnsplashBroad representationThe founding members of the BSN Foundation include Blockdaemon, a leading institutional digital asset wallet provider; Zeeve, a Los Angeles-based blockchain infrastructure automation platform; TOKO, a Hong Kong-headquartered digital asset creation platform; GFT Technologies, a German tech firm specializing in financial services and Red Date Technology, a tech firm behind the BSN Spartan Network located in Hong Kong.Representatives from these entities gathered at the Pan Pacific Singapore on Thursday for a launch event. The BSN Foundation will act as the governing body of the BSN Spartan Network, a public infrastructure network based on open-source virtual data centers. The launch of the foundation marks a major milestone in the BSN’s global expansion and its vision to establish a decentralized public layer of the internet.In discussion with Cointelegraph, Tim Bailey, the Vice President of Global Business at Red Date Technology, stated:“The BSN Foundation launch is a vital step in our global expansion, demonstrating the international recognition and support for the BSN Spartan Network’s concept and goals.” He added:“These organizations bring expertise in areas like blockchain-as-a-service, asset tokenization, financial services, and consulting, highlighting the wide applicability and potential of the BSN Spartan Network.”Bailey emphasized that the BSN Spartan Network is designed to change the application and governance of public chain technology. “By focusing on non-cryptocurrency public chains and a decentralized governance model, we’re not just innovating in technology but also in how global collaborations can shape the future of IT infrastructure,” Bailey stated. BSN’s strategy is focused on creating a “more stable and accessible network” for businesses around the world, distancing itself from the volatility related to traditional cryptocurrencies like Bitcoin.Chinese originsThe BSN Spartan Network, launched in September 2022, features a non-tradable token (NTT) issued on its default chain. Each of the network’s data centers is equipped with a single registered NTT wallet for managing and holding these tokens. NTTs can be acquired using fiat currency, selected stablecoins or through various incentive programs.The BSN Spartan Network, which originated in China as the “Blockchain-based Service Network” in early 2020, was developed with the backing of the Chinese government.“BSN was indeed originally initiated in China. However, the BSN Spartan Network, governed by the Singapore-based BSN Foundation, is distinct from the BSN Networks in mainland China,” Bailey stated. He highlighted that the BSN Spartan Network is constructed following global standards, is entirely open source and maintains independent operations from the BSN Networks present in mainland China.UDPN proof of conceptBSN, driven by Red Date Technology as its lead developer, had outlined plans to develop a universal digital payments network (UDPN) as early as 2021. That project continues to progress. Last month, it emerged that SC Ventures, the Singapore-based fintech investment subsidiary of British banking conglomerate Standard Chartered, had partnered with Deutsche Bank in a first proof of concept (POC) of the UDPN. That POC resulted in real-time transfers and swaps of synthetic USDC and EURS stablecoins between the two banks.

Artificial intelligence-driven education technology firm, Genius Group, has announced a plan to buy Bitcoin from the proceeds of damages that the company is pursuing through the courts. In a press release published to the Singapore-headquartered company’s website on June 26, it outlined that the firm’s Board of Directors has approved a distribution plan that would see any potential damages received from litigation that Genius Group is currently embroiled in, divided equally for distribution to shareholders and for the purchase of Bitcoin for the company’s Bitcoin treasury.Photo by Kanchanara on UnsplashUp to $1 billion in potential damagesGenius Group CEO, Roger Hamilton, commented on the matter, stating:“We are seeking combined damages of over $1 billion. As both lawsuits are being pursued by the Company to recover damages caused by third parties directly to our shareholders, the Board believes that 100% of any proceeds from the successful outcome of these cases should be directly distributed or reinvested for the benefit of shareholders.” On X, Hamilton outlined that there’s no guarantee with regard to how much the company recovers through litigation. However, he added that if justice prevails and the company is awarded $1 billion in damages, that would equal a $7 dividend per share for shareholders and the addition of 5,000 BTC to the firm’s Bitcoin treasury. Last month, the company provided an update on a lawsuit it has taken under the Racketeer Influenced and Corrupt Organizations (RICO) Act. Initially, $450 million in damages had been pursued but Genius Group amended the lawsuit, raising its claim to $750 million.  The lawsuit is being taken against Peter Ritz and Michael Moe as the controlling officers and directors of LZGI International, and against Michael Carter and John Clayton, in the United States District Court, Southern District of Florida. The company alleges that the defendants attempted to defraud Genius Group.  ‘Bitcoin First’Genius Group announced its “Bitcoin First” approach, and the launch of a Bitcoin treasury in November 2024, getting started with an initial purchase of 110 BTC valued at $10 million at that time. In April 2025, a New York court prohibited the company from selling stocks in order to fund the purchase of Bitcoin. Those court-imposed funding restrictions led to the firm selling off a small proportion of the overall Bitcoin that it was holding.  Prior to that prohibition on the purchase of Bitcoin being imposed, Genius Group had expressed the aspiration to build up its Bitcoin reserve to a value equivalent to $100 million. Wading further into the Bitcoin space, the firm acquired blockchain learning platform, XD Academy, in December 2024. On May 22, Genius Group announced that the U.S. Court of Appeals had overturned the ban imposed on the company. With that, it increased its Bitcoin holdings by 40%. As of June 17, the company held 100 BTC, valued at around $10 million. The firm plans to bring forward another lawsuit “alleging naked short selling and evidence of spoofing against certain parties,” with damages being pursued in the region of $250 million. Commenting on the coming of age of Bitcoin and the pursuit of a Bitcoin treasury strategy back in November 2024, Hamilton stated that “we're living in a unique moment in history - one most public companies will miss.”