Eastern Promise: DWF Labs’ $20M Cloudbreak Fund Set to Ignite Web3 Innovation in Chinese-Speaking Regions
In Brief
The cryptocurrency and blockchain industry is attracting significant investment and collaborations, with notable deals showcasing innovative projects such as Bitcoin yield solutions, AI data management, and modular blockchain oracles.
The cryptocurrency and blockchain industry continues to attract major investment and collaborations, with several notable deals making headlines this week. From Bitcoin yield solutions to AI data management and modular blockchain oracles, investors are showing keen interest in a diverse range of innovative projects.
In an Investment Round Headed by Polychain Capital, Lombard Raised $16 Million to Expand Bitcoin Yield Solutions
Through the use of its yield-bearing 1:1 LBTC product, which generates interest using Babylon’s staking system, the business hopes to increase DeFi’s access to Bitcoin. LBTC eliminates the dangers associated with centralized custodians or bridges and is intrinsically interoperable with several blockchains.
By the end of the month, Lombard hopes to have completed full functioning and is now running a private beta. Later, the business intends to extend to Ethereum Layer-2 solutions and other significant Layer-1 blockchains. It will also integrate LBTC with different DeFi protocols on the Ethereum mainnet. The fundraising round follows a $70 million investment in Babylon, a Bitcoin-staking technology sponsored by Binance.
In a Seed Fundraising Round, $8 Million Was Raised by OpenlLedger
The money will be utilized to expand the company’s workforce and operational capacities in addition to facilitating the testnet launch in Q4 2024.
OpenLedger offers AI systems data management architecture, guaranteeing complete verifiability and risk reduction. Data integrity and security are improved by the platform’s use of Ethereum security through EigenLayer’s Active Validated Service (AVS). Authenticity, inclusion, integrity, and safety for data are the company’s main concerns in the AI industry, which is expected to increase from $50 billion in 2023 to $184 billion in 2024.
Pi Squared Has Secured $12.5 Million in Seed Funding, With Polychain Capital Leading the Round
The company’s goal is to build a proof-of-proof universal ZK circuit that will allow AI, trustless remote computing, and compatible smart contracts for any kind of blockchain or distributed application. Pi Squared, an architecture for modular blockchains that provides universality, proven accuracy, trust-based simplicity, app compatibility, determinism, and repeatability, is powering the first product, the USL.
Redstone Oracles, Whose Modular Blockchain Oracle System Has Already Drawn 100 Clients, Has Secured $15 Million in a Series of Fundraising Round
The business, which bills itself as the “quickest-growing modular oracle,” plans to utilize the money to build its oracle solutions, which provide RaaS and EVM networks gas fee-optimized pricing feeds.
Arrington Capital spearheaded the fundraising round, including participation from angel investors and other financial firms. RedStone’s gas-optimized oracles can lower expenses associated with price feeds and eliminate superfluous data for DApps. In comparison to existing oracle systems, the chain-agnostic solution is intended to provide cheaper transaction costs and support more than 60 blockchains.
A $20 Million Cloudbreak Fund Has Been Established by DWF Labs to Assist Web3 Initiatives and Their Creators in Chinese-speaking Areas
The fund seeks to accelerate the development of Web3 projects by offering significant funding and strategic resources. Important industries include gaming finance, social finance, derivatives, meme coins, and layer-1/layer-2 initiatives, which will be supported by the fund. Chinese-speaking areas working in these fields are encouraged by DWF Labs to apply for the grant in order to get the funding they require to reach their full potential.
Deutsche Telekom Has Partnered With Decentralized Data Platform Subsquid
The collaboration aims to improve the speed and safety of ledger data retrieval and transfer. The worker nodes of the Subsquid network respond to queries and get the necessary data from the data lake for data consumers. Decentralized governance and the encouragement of the establishment of new businesses are consistent with Deutsche Telekom’s strategic goal.
The partnership comes after Deutsche Telekom decided to join Polygon as a validator. The platform relies heavily on data management, with each piece of data being cryptographically authenticated to guarantee validity. Since 2023, Deutsche Telekom has operated a Bitcoin node, and it soon intends to participate in digital currency photosynthesis.
The Philippines Now Offers a New Cryptocurrency Payment Option From Tether That Lets People Make Their SSS Payments in USDT
Employees in the formal, informal, and private sectors are covered by the SSS, a social insurance program administered by the state. Citizens may now pay their SSS payments using Tether on the Open Network blockchain thanks to a partnership between Tether and Web3 commerce and infrastructure company Uquid.
According to Tran Hung, CEO of Uquid, the collaboration is a major step forward in their goal of bridging the divide between everyday transactions and digital currencies, enabling the use of cryptocurrency micropayments. Since PayPal and Ripple introduced their native stablecoins and announced intentions to create their own in early 2025, stablecoins have been more widely accepted.
Chainlink Has Integrated Net Asset Value Data Onto the Blockchain Via Its Partnership With Sygnum and Fidelity International
This collaboration aims to enhance asset tokenization and improve accessibility to asset data. The centerpiece of the discussion is the launch of Fidelity International’s $6.9 billion Institutional Liquidity Fund, with Sygnum providing the on-chain representation for this substantial venture.
Sygnum also tokenized $50 million of Matter Labs’ corporate treasury reserves. These tokens were issued on the ZKsync blockchain and are held within Fidelity International’s money market fund. This partnership underscores a major step forward in integrating blockchain technology with traditional financial assets, creating new opportunities for liquidity and investment.
Chainlink enables safe propagation over any current off-chain systems or blockchain. As demonstrated by Sygnum’s recent collaboration with Float and Fasanara Capital to launch a new tokenized private loan product, the alliance enhances the trend toward the tokenization of assets.
Coinbase Prime and the U.S. Marshals Service, Which is in Charge of Asset Forfeiture, Have Collaborated
Under the terms of the agreement, Coinbase Prime will handle the management and disposal of huge quantities of well-known cryptocurrencies that the USMS owns for a fee of $32.5 million. Since its introduction over three years ago, Coinbase Prime has grown to be the platform of choice for institutions and major holders of digital assets.
The United States government has emerged as one of the biggest Bitcoin holders, having amassed over 200,000 coins from seizures associated with illicit activity, valued at nearly $5 billion. Since the SEC’s case against Coinbase was allowed to move forward, the exchange has encountered regulatory issues.
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About The Author
Victoria is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
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Victoria is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
