Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
The Bitcoin (BTC) price has plunged below $98,000, retracing from $105,000 as low as $97,750 today, marking a sudden decline of as much as -6.8%. The rapid sell-off coincides with heightened volatility across both crypto and traditional markets, with multiple factors contributing to BTC’s downward spiral.
Why Is Bitcoin Down Today? #1 DeepSeek’s Surprise Impact On Tech Markets
The primary driver behind the broader risk-off sentiment appears to be the emergence of DeepSeek, a Chinese artificial intelligence (AI) platform whose swift rise and cost-effectiveness have rattled US tech giants. Renowned market commentary outlet The Kobeissi Letter posted via X:
“Nasdaq 100 futures are now down -330 POINTS since the market opened just hours ago as DeepSeek takes #1 on the App Store. This is how you know DeepSeek has become a major threat to US large cap tech. The stock market does not lie.”
DeepSeek reportedly competes with ChatGPT yet was developed at a fraction of the cost, using less advanced hardware. Benchmark tests indicate that DeepSeek is outperforming ChatGPT in categories such as AIME, MATH-500, and GPQA, igniting concerns that the dominance of US-based AI firms could be at risk.
The Kobeissi Letter added:“OpenAI … was valued at ~$157 BILLION in October 2024 … has ~22 TIMES more employees than DeepSeek. This is why markets have been blindsided.”
Traders fear that if investors pull capital out of overextended AI stocks, a broader tech sell-off could ensue. This has significant implications for the Bitcoin and crypto market as well because of its correlation. “Crypto is front running as markets are closed & it’s a higher risk-beta asset class,”crypto analyst Miles Deutscher noted via X.
However, he sees a silver lining for Bitcoin and crypto once the AI stock boom subsides: “If DeepSeek is the knife that could (momentarily) burst the AI stock bubble, then this could actually be bullish for crypto, as liquidity rotates back. AI stocks sucked up a lot of speculative capital that previously would’ve flowed into BTC/crypto.”
#2 Pre-FOMC De-Risking
Another contributor to the current downswing is the commonly observed pre-FOMC market de-risking. Historically, investors recalibrate their portfolios ahead of the Federal Open Market Committee meetings, scheduled for January 28–29, 2025. Although consensus indicates that interest rates may remain unchanged, riskier assets like Bitcoin and cryptocurrencies often face sell-pressure in the lead-up to such announcements.
Deutscher commented:“Pre-FOMC de-risking (this is very normal, especially in an environment where we’re extremely sensitive to rates/U.S. dollar/liquidity).”
Deutscher also speculated on whether Federal Reserve Chair Jerome Powell might adopt a softer stance, given the recent transition of the US presidency: “So… if stocks are already in panic mode, is Jerome Powell really going to come out super hawkish? Right as Trump has just entered office? Idk… My prediction is that the pre-FOMC sell-off marks the local bottom.”
#3 Lack Of New Price Catalyst After Trump’s Executive Order
Market participants also cite a perceived vacuum of fresh bullish news following last week’s first-ever crypto executive order by President Donald Trump. Although the order initially propelled crypto optimism, the absence of a new catalyst left traders wanting more. Deutscher referred to this as the “lack of short-term ‘north star’ after Trump’s inauguration.”
#4 Long Liquidations Exacerbating The Move
According to Coinglass data, a flurry of long liquidations has magnified the downward price action. 313,683 traders were liquidated in the past 24 hours. Total crypto liquidations hit $853.92 million, with $795.5 million in longs.
The largest single liquidation order occurred on HTX for BTC-USDT valued at $98.46 million. On the Bitcoin market alone, $250 million worth of long positions were liquidated. The surge in liquidations amplified BTC’s fall, triggering more traders to unwind positions. Analysts view these forced liquidations as both a cause and a symptom of heightened volatility.
At press time, BTC traded at $98,983.
Bitcoin plunges to $98,000, 4 hour chart | Source: BTCUSDT on Tradingview.com Featured image created with DALL.E, chart from TadingView.com
PANews reported on August 25th that Zeus Network has officially announced a strategic liquidity partnership with Metalpha (NASDAQ: MATH), enabling Bitcoin deposits through APOLLO, the first decentralized application (dApp) on Zeus Network. Metalpha, an institutional asset management firm focused on digital assets, has begun accepting Bitcoin deposits through the Zeus Network on Solana.
As part of this partnership, Metalpha will leverage Zeus Network's permissionless infrastructure as a liquidity provider, supporting network security through decentralized verification. The Metalpha team chose Solana to deploy Bitcoin liquidity because of its high-performance DeFi environment and highly active community. By providing Bitcoin to Zeus Network, Metalpha injects liquidity into Solana and strengthens the security of cross-chain Bitcoin transactions, seeking new avenues for sustainable on-chain yield generation. As Solana becomes a major hub for institutional-grade digital asset innovation, Zeus Network is expanding its ecosystem to ensure that Bitcoin liquidity remains fundamental to DeFi growth. Leveraging Metalpha's expertise in structured financial products and risk management, this partnership is expected to enhance the financial capabilities of the Solana network and Bitcoin as an asset, adding fuel to the already booming DeFi market.
Justin Wang, co-founder and CEO of Zeus Network, said: “With Metalpha joining Zeus Network as a liquidity provider, we can leverage their experience in digital asset management to continue developing more accessible and scalable Bitcoin liquidity solutions for institutional Bitcoin holders.”
TLDR:Crypto Equity Fund Expands Regulated Access in Hong KongInstitutional Demand Drives New Market StrategyGet 3 Free Stock Ebooks Metalpha partnered with AMINA Bank to launch Principal Fund I, expanding regulated crypto equity access in Hong Kong. The fund invests in listed crypto firms like Coinbase, Circle, and MicroStrategy alongside Hong Kong-based companies. LSQ Capital, Metalpha’s licensed Hong Kong subsidiary, manages the product under SFC rules for professional investors. Principal Fund I has delivered over 20% outperformance against its benchmark since August 2024 inception. Crypto investment in Hong Kong just gained a new entry point. Two financial firms are teaming up to roll out a regulated equity product tied to the digital asset industry. The deal comes at a time when professional investors are demanding structured access.
Institutional appetite for crypto-related products keeps rising across Asia. This latest move brings a mix of traditional finance and blockchain exposure under one roof.
Crypto Equity Fund Expands Regulated Access in Hong Kong On August 28, Metalpha Technology Holding Ltd. announced a partnership with Swiss-based AMINA Bank AG, according to a company release. The bank, licensed by Switzerland’s financial regulator, will extend its services into Hong Kong through its local unit.
The first product is Principal Fund I, designed to give professional investors equity exposure to leading crypto-related companies. The portfolio includes shares of Coinbase, Circle, and MicroStrategy from the US, alongside blockchain-linked firms listed in Hong Kong.
LSQ Capital, Metalpha’s licensed Hong Kong subsidiary, manages the fund under the oversight of the city’s Securities and Futures Commission.
The minimum entry for investors is set at one million US dollars. The strategy goes beyond simple exposure, using derivatives to adjust for volatility while targeting stronger returns than Bitcoin itself. Data from the company shows the fund has already outpaced its benchmark by more than 20 percent since August 2024.
Executives from both sides said the collaboration builds on Hong Kong’s focus on regulated financial infrastructure. The market is opening wider to family offices, institutions, and ultra-high-net-worth investors seeking structured products in the digital asset space.
Institutional Demand Drives New Market Strategy The backdrop for this launch is a global surge in demand for regulated crypto exposure. According to Metalpha, US Bitcoin ETFs reached record inflows, with more than 150 billion dollars under management since early 2024.
Michael Benz, AMINA’s Head of Asia-Pacific, described the city as moving from infrastructure building to broader adoption among professional investors. The new fund, he said, aims to deliver the kind of structured solutions that this audience requires.
Industry observers note that the fund gives investors a way to access crypto price exposure without directly holding volatile assets. By anchoring returns to listed companies tied to blockchain growth, the approach lowers operational risks while opening regulated pathways.
Both firms confirmed that Principal Fund I is the first in a planned series of wealth products. Future launches are expected to expand beyond equities as the partnership develops new strategies to match market demand.
TLDR The SEC granted Fuse Crypto a no-action letter, confirming its FUSE token is not a security. Fuse Crypto uses blockchain to reward customers for participating in green energy initiatives like rooftop solar installation. The SEC’s decision highlights a shift toward clearer regulations for crypto tokens under the current administration. Fuse’s argument that its token is not an investment contract aligned with the SEC’s stance, avoiding security classification. The SEC has issued two no-action letters for tokens in recent months, signaling evolving regulatory clarity for the crypto sector. The SEC has granted Fuse Crypto a no-action letter, confirming that its FUSE token is not a security. This marks a key moment in the regulatory landscape for cryptocurrency in the United States. The approval allows Fuse to offer and sell its token without facing enforcement action from the SEC.
SEC’s Position on FUSE Token The SEC’s Division of Corporation Finance issued the no-action letter in response to Fuse Crypto’s request. The company had asked the SEC to confirm that the FUSE token, used for rewarding customers in energy programs, is not a security. The SEC stated that it would not recommend enforcement action based on the representations made in Fuse’s letter.
The SEC clarified that any change in facts or conditions could lead to a different conclusion. This conditional relief underscores the importance of accurate representations when seeking such clarity. Fuse’s token operates within a blockchain framework designed to incentivize sustainable energy practices.
Fuse Crypto operates in the electricity sector, offering products like electric vehicle chargers and solar setups. Through its green energy initiatives, customers earn FUSE tokens for participating in energy-efficient programs. The SEC’s decision highlights the potential for blockchain to intersect with sustainability efforts in the energy sector.
The SEC’s Evolving Stance on Crypto Tokens This decision marks the second no-action letter issued by the SEC in recent months. The first letter was granted to DoubleZero, a DePIN project, for its 2Z token in September. Both rulings are seen as part of a shift toward clearer regulatory guidance on token offerings.
The SEC has been evolving its approach to digital assets under the current administration. The agency has hosted crypto roundtables and launched “Project Crypto” to review rules for the industry. This move signals a more open stance toward crypto businesses seeking regulatory clarity.
As reported by Blockonomi earlier, the SEC’s chair, Paul Atkins, also introduced plans for a “token taxonomy.” This effort aims to better define which cryptocurrencies are considered securities. The Fuse crypto no-action letter may contribute to these discussions by offering further clarification on what constitutes a non-security token.
Fuse Crypto’s Commitment to Green Energy Fuse Crypto focuses on green technology, such as solar panels and smart grid systems, to optimize energy use. The company believes that blockchain can drive innovation in energy systems by providing scalable rewards for sustainable consumption. The FUSE token serves as an incentive for customers to install eco-friendly devices like rooftop solar panels.
The firm explained in its letter that the token is earned based on individual consumption, not investment. Fuse argued that customers do not expect profits from the efforts of Fuse or others, which is key to avoiding classification as a security. This reasoning aligns with the SEC’s stance, which uses the Howey Test to determine securities. Fuse’s blockchain approach aims to solve challenges in modernizing the energy grid.
By rewarding customers for their sustainable actions, Fuse plans to incentivize smarter energy consumption. The FUSE token is part of a larger effort to integrate decentralized energy generation and technology into the grid. This decision from the SEC provides regulatory certainty for Fuse crypto, allowing it to continue expanding its green energy initiatives. It marks a shift toward clearer and more predictable guidance for blockchain-based tokens in the energy sector.
The US Securities and Exchange Commission (SEC), which has taken more moderate steps for the cryptocurrency sector after Gary Gensler left and was replaced by crypto-friendly Paul Atkins, has made a more positive decision for an altcoin.
Accordingly, the SEC ruled that the Solana (SOL)-based Fuse Energy token is not a security.
The SEC issued its second no-action letter to cryptocurrency projects in recent months, DePIN, after sending a similar no-action letter to DoubleZero a few months earlier, providing regulatory protection for the altcoin from sanctions.
The SEC sent a similar no-action letter to Solana-based DePIN project FUSE as it did to DoubleZero.
Accordingly, the SEC sent a no-action letter to Fuse Energy stating that its native token, FUSE, does not constitute an investment contract under securities law.
The SEC's decision to close the case without taking any action or imposing any penalties indicates that the FUSE token is not considered under federal securities laws.
“Incredible news: The SEC today issued a Letter of No Action for Fuse Energy's token. It is the native utility token for The Energy Network, built on Solana. Full details can be found in the project whitepaper published today. This milestone is the culmination of months of productive work with the SEC, and Fuse is proud to play a role in ensuring regulatory clarity for cryptocurrencies in the US. Momentum is building,” Fuse Energy said in a statement.
At this point, the decision also stands out as a step that reduces uncertainty for cryptocurrency projects and investors.
Cryptocurrency journalist Eleanor Terrett commented that this decision was based on the finding that the token's value is tied to its actual utility within the network rather than investors' expectation of profit.
*This is not investment advice.
Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!
SEC okays Fuse’s ENERGY token; no registration needed. Token rewards users for energy-saving, not investment profits. Signals SEC easing on real-world utility tokens. The SEC just handed Fuse Crypto a no action letter on November 24, saying they won’t chase charges. That is over the company’s energy rewards token as long as it sticks to the plan laid out. That means Fuse can sell the token without registering it as a security under the 1933 Act or listing it as equity under the 1934 Act.
Jonathan Ingram from the SEC made it clear the okay is based strictly on Fuse’s facts—if things change, so could the relief. The letter doesn’t say if the token is or isn’t a security, just that enforcement won’t kick in right now.
Fuse’s Token and Why It’s Not a Security Fuse works in clean energy across the U.S., putting in EV chargers, rooftop solar, and grid support gear. Their token, called FUSE or ENERGY, rewards people who join programs easing grid strain, like smart energy use.
Fuse argued it doesn’t fit the Howey Test no money invested for profits from others’ work. Users earn it for their own actions, like consuming energy smarter, not betting on Fuse’s success. The company sees it as a flexible rewards setup for a growing need in decentralized energy.
This is the second such letter lately the SEC gave one to DoubleZero in September for its DePIN token. Under Trump, the agency has shifted: hosting crypto talks, dropping old probes, starting “Project Crypto” to update rules, and working on a token taxonomy to sort securities from non-securities. Chair Paul Atkins pushed for clearer lines on digital assets.
For Fuse, it’s a green light to roll out without heavy registration, focusing on utility over speculation. For the crypto world, it’s a sign the SEC might ease up on tokens tied to real world use, cutting uncertainty after years of gray areas. Still, any slip from the described setup could flip the script fast.
Fuse Energy is preparing to launch the ENERGY token to meet the rising demand for energy driven by artificial intelligence.
Summary
The SEC issued a no-action letter for Fuse’s Energy token launch AI is creating a rising demand for energy-intensive data centers Data centers could account for 20% of global energy needs by 2030 AI is driving rising energy demand, and crypto firms are taking note. On Tuesday, November 25, UK-based energy company Fuse Energy announced that it received a green light from the U.S. Securities and Exchange Commission for the launch of its Energy Dollars token, according to a press release shared with crypto.news.
“Our goal at Fuse Energy is to build an innovative and credible network, coordinating onchain incentives to build resiliency into our grid systems” said Alan Chang, CEO and Co-Founder of Fuse Energy.
The firm, co-founded by former Revolut executives, revealed that the SEC issued a no-action letter about the token launch. According to Fuse, the token will help scale the energy grid, which is needed due to rising demand for AI data centers and other uses.
“Receipt of this no-action letter underlines the SEC’s continued commitment to engage with crypto projects and provide clarity in the space. We hope that this paves a path forward for more teams to build truly useful blockchain products, tackling problems as significant as ours,” Alan Chang, Fuse Energy.
AI is creating a rising demand for energy AI is contributing to a significant rise in energy demand. The demand for advanced AI models is rising, and with it, energy demand is increasing as well. Notably, newer large language models require exponentially more energy for both training and regular operations.
For this reason, AI is expected to consume more energy in the near future. So much so that, according to a report by the Penn State Institute for Energy and the Environment, data centers could account for 20% of global energy use by 2030–2035.
The U.S. Securities and Exchange Commission has granted Fuse Crypto Limited a no-action letter that effectively allows the firm to launch and distribute its FUSE token without being treated as a security under federal law. The decision, issued by the SEC’s Division of Corporation Finance, represents one of the most significant regulatory developments for utility tokens in recent years and provides Fuse with a clear compliance lane for its decentralized-infrastructure network.
According to the SEC’s letter, enforcement staff will not recommend action against Fuse as long as the token is distributed and used according to the parameters the company outlined in its submission. These parameters include limiting the token’s role to network participation, energy-related functions and infrastructure coordination, with no promise of profits based on Fuse Crypto’s managerial or entrepreneurial efforts. The agency specifically emphasized that its conclusion was based entirely on Fuse’s factual representations and that any deviation from these facts may void the relief.
Fuse Crypto’s project centers on a decentralized physical infrastructure network designed to reward users for participating in energy-efficiency programs, grid support, renewable-power integration and similar functions. Because the FUSE token is structured as a unit of utility within this ecosystem rather than as an investment product, the SEC determined that it does not meet the threshold of the Howey test, which governs what constitutes an investment contract under U.S. securities law.
Regulatory implications and impact on the DePIN sector The SEC’s decision is widely viewed as a milestone for the DePIN category, a sector that has grown rapidly but has faced persistent regulatory ambiguity. Many infrastructure-focused tokens operate at the intersection of real-world activity and blockchain incentives, making it challenging for projects to determine whether their tokens fall within securities-law jurisdiction. Fuse’s no-action letter may now serve as a model for other projects seeking similar treatment, particularly those that can demonstrate measurable utility and avoid speculation-driven token models.
Analysts note that the decision signals an increased willingness by regulators to engage with non-speculative token designs. While this does not constitute broad regulatory reform, it does show that the SEC is open to case-specific clarity where a project can demonstrate that a token’s primary function is consumptive rather than financial. For startups building decentralized infrastructure systems related to energy, mobility, data networks or telecommunications, the Fuse case may offer a blueprint for navigating U.S. compliance.
Potential market consequences and considerations for token issuers Market observers believe the relief could accelerate Fuse Crypto’s rollout, attract institutional partners and give confidence to enterprises evaluating energy-efficiency programs tied to blockchain incentives. A clear regulatory perimeter also helps reduce legal risk for participating households, enterprises and grid-service providers that earn or redeem FUSE tokens as part of their operational activity.
However, legal experts caution that the no-action letter is not blanket approval and applies only to the exact facts Fuse presented. Any changes to token economics, distribution, secondary-market behavior or promotional claims could trigger renewed scrutiny. The SEC has historically emphasized that no-action letters are not general precedents and should not be interpreted as broad exemptions for the wider industry.
Even so, the decision marks a rare moment of legal clarity for a sector accustomed to navigating uncertain regulatory terrain. As the DePIN category continues to grow, more projects may be encouraged to approach the SEC proactively, demonstrating verifiable utility and compliance-ready design.
In summary, the SEC’s relief for Fuse Crypto stands as a notable advancement for real-world-use tokens. By distinguishing utility from speculation, regulators have opened the door to more structured engagement with decentralized infrastructure networks and signaled a potential shift toward a more nuanced regulatory environment for crypto innovation.
Tanzeel Akhtar has been reporting on cryptocurrency and blockchain technology since 2015. Her work has appeared in leading publications including The Wall Street Journal, Bloomberg, CoinDesk, Bitcoin...
Has Also Written
Last updated:
November 28, 2025
It’s been another consequential week in Washington and beyond, with U.S. regulators sending mixed but meaningful signs across crypto, AI, and financial policy. From the SEC greenlighting a Solana-based token to the prospect of a crypto-friendly Federal Reserve chair, the regulatory climate is shifting fast—particularly as policymakers grapple with emerging technologies that are outpacing existing frameworks.
SEC Grants Fuse a Rare No-Action LetterThe big headline came from the U.S. Securities and Exchange Commission, which issued a no-action letter to Solana-based DePIN project Fuse—an unusual step for a blockchain project looking for clarity around token sales.
Fuse asked the SEC’s Division of Corporation Finance on Nov. 19 to confirm it would not recommend enforcement action over the offer and sale of its FUSE token. The project emphasized that FUSE isn’t pitched as a speculative asset: it’s strictly a network participation token, distributed as a reward to users who maintain the protocol’s decentralized infrastructure. The SEC agreed.
In a letter signed by deputy chief counsel Jonathan Ingram, the regulator stated it would not pursue enforcement “based on the facts presented” if Fuse adheres to the guardrails it outlined.
Additionally, the token can only be redeemed through third-party venues at market rates, showing the SEC’s focus on removing any investment-like characteristics.
This marks the second DePIN-related no-action letter in recent months. While not precedent-setting, the decision is a useful datapoint: when tokens are tightly scoped to utility and distribution is controlled, the SEC appears more open to relief. For projects building real-world infrastructure on-chain, it’s one of the clearest regulatory signs we’ve seen in months.
Trump’s Top Fed Pick Has Deep Crypto TiesCrypto markets may soon have a sympathetic voice at the very top of U.S. monetary policy. Kevin Hassett—director of the White House National Economic Council and longtime Trump ally—has emerged as the leading candidate to replace Jerome Powell as Federal Reserve chair.
What’s striking is Hassett’s history with digital assets. He has publicly engaged with the crypto sector, consulted with policy groups connected to the space, and indicated openness to digital-asset innovation.
Trump’s advisers describe him as someone whom the president trusts deeply on interest-rate policy—particularly on the question of cutting more aggressively than Powell. Hassett has also reportedly indicated he would accept the role if selected.
If appointed, this would be the most crypto-friendly Fed chair in U.S. history. While the Fed is not a crypto regulator, its stance on dollar liquidity, stablecoins, and payment systems has enormous downstream effects. A pro-innovation chair could spur greater openness across other agencies—or at the very least, reduce friction.
Bipartisan Bill Targets Rising AI-Powered FraudAI-generated scams are surging, and Congress is taking notice. This week, lawmakers introduced the AI Fraud Deterrence Act, a bipartisan proposal from Rep. Ted Lieu (D-CA) and Rep. Neal Dunn (R-FL). The bill seeks to impose tougher penalties on crimes committed using artificial intelligence—particularly impersonation schemes, deepfakes, automated theft, and coordinated fraud rings.
The legislation is also explicitly tied to financial markets and crypto, where AI-powered fraud is growing at an alarming rate. High-profile cases involving deepfake video scams, impersonation bots, and automated phishing rings have intensified pressure on lawmakers to intervene.
The bill’s broader message is clear: manipulation, impersonation, and automated fraud using AI tools will face harsher federal consequences. Expect this framework to evolve quickly, given the sharp rise in AI-driven schemes across exchanges and Web3 platforms.
CFTC Pushes for New Prediction Markets FrameworkFinally, at the CFTC, Commissioner Caroline Pham is making moves to bring prediction markets into sharper regulatory focus.
Pham announced that the agency is seeking nominations for its new CEO Innovation Council, a body designed to advise on emerging markets and frontier financial technologies. One of the council’s early priorities will be the rapidly evolving prediction markets sector—a space that has grown too large and too influential for federal regulators to ignore.
Through a Nov. 25 press release, Pham invited public nominations and encouraged industry stakeholders to propose topics the council should prioritize. With prediction markets increasingly touching politics, finance, sports, and crypto, the CFTC is clearly preparing a more structured approach.
This comes as platforms like Polymarket continue to expand and attract mainstream attention, forcing regulators to reconsider how forecasting markets fit within existing derivatives law.
The Big PictureFrom the SEC’s cautious openness to utility-focused tokens, to Congress tightening the screws on AI-based crime, to the CFTC’s attempt to modernize its oversight, the regulatory ecosystem is shifting in real time.
But the most consequential development may be Trump’s apparent interest in appointing a Fed chair aligned with crypto innovation. That appointment would reverberate through every corner of financial policy—from stablecoins to global dollar rails to payments innovation.
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
6 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
6 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
6 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
6 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
6 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
The week of December 14-20, 2025, recorded $335.1 million in crypto VC funding across 18 projects.
As per the data, RedotPay’s $107 million Series B round led a year-end funding period. Here’s a comprehensive breakdown of this week’s crypto funding activity as per Cryptofundraising data:
RedotPay Raised $107 million in a Series B round RedotPay is a Hong Kong-based stablecoin payment fintech firm Investment was backed by Goodwater Capital, Pantera, and Blockchain Capital The project has raised $194 million so far https://twitter.com/RedotPay/status/2000928974357024904
Fuse (Project Zero) Fuse secured $70 million in a Series B round Fully diluted valuation of $5 billion Investors include Lower Carbon and Balderton Capital The project has raised $160 million so far METYA Raised $50 million in a Strategic round Metya is an AI-driven Web3 dating platform Investment was Backed by Century United Holdings Group, Castrum Capital, and Zibra Capital Olea Olea gathered $30 million in a Series A round Olea is a fully digital trade finance platform Investors include BBVA, XDC, and The Dock Projects under $15 million funding DAWN (Andrena), $13 million in a Series B round ETHGAS, $12 million in a seed round YO Protocol (YO Labs), $10 million in a Series A round Speed, $8 million in an unknown round SocialGood, $5.6 million in a Series B round HolmesAI, $5 million in a strategic round worm wtf, $4.5 million in an unknown round Harbor DEX, $4.2 million in a seed round Football Fun, $3 million in a public sale Space, $3 million in a seed round Strata, $3 million in a seed round Rainbow, $3 million in a public sale with a $100 million fully diluted valuation DeepBook AI, $2 million in an unknown round Moto, $1.8 million in a pre-seed round Read last week’s VC funding coverage here.
Today, market analyst CryptoDep highlighted the performance of the crypto fundraising sector last week. According to the data, several crypto startups engaged in multiple funding rounds and raised a total of $310.6 million during the week. In the week of December 14 to December 20, 2025, 10 prominent crypto projects attracted funds through strategic fundraising events, with the funds raised showing resilience in investor confidence despite current heightened market conditions.
Crypto markets have remained in the extreme fear phase despite the US Federal Reserve’s interest rate cut less than two weeks ago. Typically, interest rate cuts often favor risky assets like cryptocurrencies. However, this time the rate reduction came with a cautionary stance that confused investors’ sentiment. For now, digital tokens including Bitcoin, Ethereum, XRP, and several others are trading down due to fear-driven trading and profit-taking as investors anticipate fresh optimism next year.
Despite the drastic declines in crypto prices, the week’s fundraising performance suggested resilient investor appetite for digital assets and blockchain ventures.
Top Crypto Fundraising Events Last Week RedotPay RedotPay, a Hong Kong-based stablecoin-focused payment fintech, is at the top of the list because it raised the largest amount of money from crypto investors last week. On Tuesday, December 16, 2025, RedotPay raised $107 million in a series B funding round led by Goodwater Capital, with various crypto investors, including Pantera Capital, Blockchain Capital, Circle Ventures, and others, participating in the investment drive event. RedotPay, which was established to simplify the use of stablecoins in day-to-day financial activity, disclosed that it plans to utilize the new funding to support strategic acquisitions focused on broadening its product lines and infrastructure capabilities.
Fuse Second on the list is Fuse, a London-based decentralized renewable energy company that aims to redefine the global energy grid by operating a DePIN energy network that enables people to produce, trade, and consume energy through a peer-to-peer approach. It is building a decentralized P2P energy marketplace that allows direct energy exchanges among community members, thus eliminating the need for traditional energy providers. As per the data, Fuse raised $70 million in a series B funding round, organized by major venture companies, including LowerCarbon Capital and Balderton Capital. Fuse said it will use the new funding to advance the effectiveness of its DePIN energy project built on Solana.
METYA METYA, an AI-powered Web3 dating platform, followed the list. On Wednesday, December 17, METYA secured $50 million in a strategic funding round led by Century United Holdings Group and participated in by other investors, including Castrum Istanbul, Alpha Capital, M2M Capital, and Vertex Capital. METYA disclosed that it intends to use the new funding to expedite its global advancement plans in MePay (payment services), AI-powered social networking, and international liquidity interconnectivity.
DAWN DAWN, a DePIN network built on Solana that enables users to access the web from user-owned broadband nodes, also conducted a significant funding event last week. On Thursday, December 18, DAWN raised $13 million in a series B funding round organized by Polychain Capital. As per the announcement, DAWN will utilize the funds to broaden the coverage of its DePIN network across the US and launch global deployments.
ETHGAS Fifth on the list is ETHGAS, a market trading platform and an infrastructure Layer for the Ethereum economy. On Wednesday, December 17, ETHGAS secured $12 million in a seed funding round led by Polychain Capital and participation from Amber Group, SIG DT, Lafayette Macro Advisors, BlueYard Capital, and Stake Capital. As per the data, ETHGas plans to utilize the newly raised capital to develop an Ethereum blockspace futures market.
Other Projects with Top Crypto Funding Activity Last Week Other crypto startups that raised outstanding fundraise last week include digital trade finance platform Olea, crypto yield optimization protocol YO Labs, Bitcoin and stablecoin payments infrastructure company Speed, AI-driven blockchain security company TestMachine, crypto fintech firm SocialGood, and AI agent platform HolmesAI, as further illustrated in the analyst’s data.
AUTHOR
Nicholas Otieno is a fintech writer specializing in cryptocurrency markets. Since 2019, he has written articles to educate readers about cryptocurrency and its substantial positive impact on global prosperity. Nicholas is a Bitcoin holder, believing firmly in its fundamentals. His work has been featured in publications such as Finance Magnates, Blockchain.News, Bitcoin Magazine, Coincub, and among others. When he's not writing, Nicholas enjoys performing domestic tasks, spending time with friends, listening to music, and watching football.
Fuse Energy is a London-based energy company building a vertically integrated power business and a blockchain-based incentive system to manage electricity demand, distributed energy resources, and grid stress. It combines renewable generation, retail supply, hardware installation, and a tokenized coordination layer called The Energy Network, powered by the Energy Dollar ($ENERGY).
What Problem is Fuse Energy Trying to Solve?Electricity demand is rising fast. AI data centres, electric vehicles, and home electrification are pushing grids harder each year. At the same time, many energy suppliers rely on outsourced generation, third-party trading desks, and fragmented installers. This setup adds cost, slows innovation, and exposes consumers to volatile prices.
Fuse Energy argues the system itself is the problem.
The company points to several structural issues:
Power grids were designed for large, centralised fossil fuel plants, not local solar or batteriesRenewable projects face long grid connection delays, sometimes over 10 years in the UKConsumers struggle with high upfront costs and complex installation processes for solar and batteriesEnergy suppliers often lack direct control over generation and demand responseAccording to Ofgem, the energy regulator for Great Britain, UK electricity demand could rise 64% by 2035. At the same time, global AI workloads could consume up to 3–4% of global electricity by 2030, up from about 1% today. Fuse Energy’s view is that cheaper renewables alone are not enough if the grid and incentives remain misaligned.
Who Founded Fuse Energy?Fuse Energy was founded in 2022 by Alan Chang and Charles Orr, both former executives at Revolut.
Chang previously served as Revolut’s chief revenue officer, while Orr held senior operational roles. Their background is not in utilities but in scaling fintech products with tight cost control and full-stack ownership.
They applied the same thinking to energy. Instead of outsourcing generation, trading, and installations, Fuse chose to own the entire chain. The goal was to remove middlemen and move faster than traditional suppliers.
How Does Fuse Energy Work?Fuse Energy operates as a licensed electricity retailer, generator, trader, and distributed energy resource installer. This means it controls power from production to delivery.
The company’s model includes:
Building and owning renewable assets such as solar farmsSupplying electricity directly to householdsTrading power internally rather than via third partiesInstalling solar panels, batteries, and EV chargers in homesDeveloping consumer hardware, including micro solar-battery kitsFuse says this vertical integration cuts costs by about 10% compared to incumbents. UK households on Fuse tariffs have reportedly saved up to £200 per year compared to the price cap.
In 2024, Fuse built its first solar farm in Hampshire. By late 2025, the company reported serving more than 200,000 households and generating between $300 million and $400 million in annual recurring revenue, with roughly 8x year-on-year growth.
Why is Fuse Energy Compared to Octopus Energy?Octopus Energy is the UK’s largest challenger supplier, with around 10 million customers globally. It relies heavily on third-party generation and focuses on software licensing.
Fuse Energy takes a different approach.
Instead of focusing on energy software alone, Fuse builds and owns assets across the stack. It also installs distributed energy resources directly, rather than relying on partner networks.
Worth noting, the UK energy crisis of 2021–2022 showed how fragile supplier models can be. Around 30 suppliers collapsed due to exposure to gas prices and weak balance sheets. Regulators later introduced capital adequacy rules to prevent repeats.
Fuse claims its model allows tighter risk control and faster product launches. Investors appear to agree.
How much funding has Fuse Energy raised?Fuse Energy has raised significant capital in a short time.
Key funding milestones include:
Early backing from Accel, Lakestar, Creandum, Ribbit, and othersA previous round of about $100 millionA recent round of roughly $70 million led by Balderton Capital and Lowercarbon CapitalThe latest round values Fuse at about $5 billion, compared to Octopus Energy’s $9 billion valuation despite Octopus being much larger.
Lowercarbon Capital, led by Chris Sacca, focuses on climate-related infrastructure. Balderton was an early investor in Revolut and backed Fuse early as well.
What is The Energy Network?The Energy Network is Fuse Energy’s blockchain-based coordination layer for managing distributed energy resources and flexible demand.
It is designed to connect millions of small energy assets, such as:
Home solar panelsBatteriesSmart EV chargersFlexible household demandThese assets are often called distributed energy resources, or DERs. When coordinated, they can reduce grid stress, lower peak prices, and improve reliability. Large coordinated groups of DERs are sometimes referred to as virtual power plants.
The Energy Network aims to automate incentives for this coordination using a native token.
What is the Energy Dollar ($ENERGY)?The Energy Dollar is the native token of The Energy Network. It is a utility token, not a memecoin, and is used to reward actions that help balance the grid.
The token rewards users for:
Connecting DERs to the networkShifting electricity usage away from peak price periodsProviding flexibility during periods of grid stressRewards are earned based on real-world value. For example, shifting demand in a high-price region during peak hours earns more than shifting demand in a low-price region during off-peak hours.
Users can burn Energy Dollars to receive discounts on Fuse products and services, such as:
EV chargersBattery installationsSolar installationsLater, possibly energy bills and public EV chargingBurning permanently removes tokens from circulation, creating a deflationary effect over time.
How Does Energy Dollar Tokenomics Work?The Energy Dollar tokenomics are designed around long-term grid participation rather than short-term trading. Of the 10 billion tokens, 60.8% is allocated to network operations, 13.8% to the team, and 25.4% to investors.
Key points include:
Maximum supply capped at 10 billion tokensTokens minted gradually from 2025 to 2050Up to 5 billion tokens can be burnedRewards distributed over a 25-year scheduleNo team or investor unlocks in the first yearAfter the first year, team and investor tokens unlock in stages:
20% unlock at 12 months20% at 15 months20% at 18 months20% at 21 months20% at 24 monthsRewards are calculated using a pro-rata formula based on the value contributed during a given period. Higher-value actions earn higher rewards.
Energy Dollars will be listed on third-party exchanges to allow price discovery. This enables large DER owners to sell tokens to users who want discounts on energy hardware or services.
Why is the Energy Network Built on Solana?The Energy Dollar is deployed on the Solana blockchain using the SPL token standard.
According to the Fuse Energy team, Solana was chosen for several reasons:
Low transaction feesHigh throughput suitable for millions of usersStrong security modelNative token controlsSolana’s consensus design allows scaling with limited increases in energy consumption, which aligns with the project’s goals. All smart programs will be audited before deployment.
Users interact with Energy Dollars through a self-custodial wallet embedded in Fuse’s web and mobile apps. Tokens can also be transferred to external wallets for use across the Solana ecosystem.
How does Fuse Energy plan to scale?Fuse plans to expand beyond the UK into Europe, the United States, and other markets where regulation allows.
Its advantages include:
Existing licences as a retailer, generator, and installerExperience building utility-scale renewablesIn-house installation teamsA ready-made incentive layer through the Energy NetworkThe company also plans to launch consumer hardware, including low-cost solar and battery kits designed for faster deployment and simpler installation.
The Energy Network is scheduled to begin rolling out features such as off-peak rewards under a program called The Energy Network in early 2026.
What does this mean for consumers?For households, Fuse Energy’s model combines lower electricity prices with optional participation in demand flexibility.
Consumers can:
Pay less for electricity through vertically integrated supplyEarn rewards for shifting usage, even without owning solar or batteriesUse rewards to reduce the cost of future energy hardwareFor the grid, coordinated DERs reduce peak demand, which lowers system costs for everyone.
ConclusionFuse Energy combines traditional energy operations with a blockchain-based coordination system. By owning generation, supply, installations, and incentives, it reduces reliance on third parties and aligns costs with grid needs.
The Energy Network and Energy Dollar provide a structured way to reward demand flexibility and DER participation at scale. Together, they form a vertically integrated energy model designed for modern electricity demand, without relying on speculative narratives or promotional claims.
ResourcesFuse energy on X: Posts (November 2025 - December 2025)
Fuse Energy Website: General info
Ofgem report: Preparing for a faster, more efficient electricity connections process
Fuse Energy whitepaper: About Fuse Energy
Report by Financial Times: UK start-up Fuse Energy nears new funding at $5bn valuation
PANews reported on April 2 that, according to SolanaFloor, the Drift protocol vulnerability has affected multiple DeFi protocols, including Reflect Money, Ranger Finance, Neutral Trade, Elemental DeFi, Project 0, Lulo Finance, Asgard Finance, DeFi Carrot, Pyra, xPlace, and Fuse Wallete. Some protocols have suspended minting, redemption, or deposit/withdrawal functions.
Ranger Finance confirmed approximately $900,000 in risk exposure, representing about 6% of its total locked value of $14.6 million. Pyra stated that user funds were affected due to earning yield through Drift and has suspended the Pyra Card function. Asgard Finance stated that the risk exposure related to Drift is not significant, has disabled this credit source, and has contacted affected users. Fuse Wallet suspended deposits from its Earn product to Drift, but the wallet itself was not affected. DeFi Carrot suspended minting and redemption functions; Boost and Turbo products were unaffected. xPlace's Savings product suspended deposits and withdrawals, and its credit mode and lending functions were temporarily disabled. Protocols such as Elemental DeFi and Project 0 stated that related fund allocations have been suspended, pending the resumption of Drift operations. Lulo Finance warned that Classic deposit users may be affected, but Protected and Boosted products have no risk exposure.
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
6 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
6 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
6 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
6 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
6 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
Seven-year-old L1 chain unveils infrastructure roadmap positioning the chain as the settlement layer for AI-native commerce and last-mile payments.
Fuse Network just published its roadmap, built around a single conviction: the missing piece in last-mile payments isn’t regulation, isn’t adoption. It’s the right infrastructure. And AI agents are what finally makes that infrastructure viable at scale.
The end game of blockchain payments was never cheaper rails for Visa. It was giving every business and every person a private key, and letting them interact directly with financial infrastructure without paying a cut to anyone in the middle. The long tail of the global economy, the street vendor, the freelancer, the local delivery network, has always been the real market. They just never had access to the technology, and integrating it required developers, budgets, and technical expertise that most of them will never have.
AI changes that last part. The development bottleneck that kept blockchain infrastructure out of reach for smaller players is gone. For the first time, the average business can plug into programmable payments, loyalty tools, and on-chain settlement without a technical team. That is what last-mile payments on blockchain actually means, and that is what Fuse is building for.
That alignment is not incidental. The same rails that serve a local business serve an AI agent settling a microtransaction in under 200ms for fractions of a cent.
Fuse is integrating native support for the emerging agentic payment standards, including x402, MPP, UCP, ACP, and ERC-8183, and is developing a dedicated Fuse MCP server to expose this infrastructure to any AI tool or agent built on the network.
“What we want to enable on Fuse is a business that gets a point of sale for free, an e-commerce storefront for free, the ability to sell online with zero friction, and no dependency on centralized platforms taking large percentages,” said Mark Smargon, CEO and Co-Founder of Fuse Network. “The end game isn’t onboarding institutions. It’s giving every business and every user a private key. That changes everything.”
Powering the consumer demand layer is Solid, Fuse’s non-custodial neobanking application combining stablecoin and Ethereum yield with a Visa debit card accepted in 49 countries. Every Solid user generating yield, spending with their card, or accessing any financial product on the platform produces sustained on-chain activity on Fuse. The roadmap extends Solid into lending, insurance, index funds, and equities, all on the same non-custodial stack.
Doubling down on the L1
Fuse Chain has run without a single hour of downtime since 2019. Seven years, through every market cycle. The validator network is currently doing a major upgrade, and transaction fees remain consistently cheap.
The infrastructure cycle of the past two years produced more chains than users and pushed major networks toward L2 architectures. Fuse explored that path and made a deliberate choice: L2 technology remains insufficiently decentralized and operationally unstable for the use case Fuse is building toward. The L1/L2 distinction is collapsing anyway as sovereign chains converge on execution, ownership, and economics. The market is returning to where Fuse has been.
Fuse is doubling down on its L1 because the infrastructure for programmable, agent-native, last-mile commerce requires exactly what Fuse Chain already is: fast, cheap, seven years live, and built for real payments.
More information at: https://news.fuse.io/fuse-network-roadmap-update/
About Fuse Network
Fuse Network is the first EVM-compatible blockchain built for real-world payments, launched in 2019 with a vision to make stablecoins practical for everyday businesses and their customers. Fuse built a vertically integrated stack designed for the last mile of payments, enabling SMBs, everyday users, and AI agents to transact seamlessly on the same rails.
Xai, the layer-3 gaming network built on Ethereum scaler Arbitrum, kicked off 2024 with a bang, launching its XAI token to early supporters and then announcing that noted NFT game studio Laguna Games will bring Crypto Unicorns and related titles to the network.
So what’s next? More games, of course.
Ex Populus, which co-founder and CEO Tobias Batton described to Decrypt’s GG as the “labs company that serves the Xai Foundation,” is a game studio—and its games are set to be the first out the gate in the coming months as the Xai ecosystem takes shape.
The first, called Final Form, is a card-battler game with NFTs. According to its official website, the game will support NFT cards previously released on Solana via a bridge to Arbitrum. Batton said that the game is “penciled in for April,” but that the ETA could change. He said the game is playable and “moving into a polish phase,” so it can’t be far off.
LAMOverse is the other game from Ex Populus, and it’s a long-in-development online action game with colorful, cartoonish environments. Tied into physical LAMO toys based on gaming influencers like Ninja and Dr. Disrespect, LAMOverse is set to debut sometime after Final Form, and the game studio says it’s likewise playable and nearing a proper launch on Xai.
Batton recounted that Ex Populus spent substantial time seeking an ideal gaming chain for its projects and said that it explored building on other Ethereum scaling networks like Polygon or Immutable X. But, he said, each chain the studio tried had trade-offs that made the team “not enthusiastic” about committing to those ecosystems.
Ultimately, Arbitrum creator Offchain Labs proposed building a custom gaming chain that would suit the needs of Ex Populus while also providing a home for other studios in the future. Thus Xai was born.
In this team-up, Batton said, Ex Populus built the software that powers the Sentry Nodes that early users have purchased to support the Xai network. It also makes games and works in a publisher-like role to help other studios onboard to Xai and get their games in front of players.
That’s the kind of role that Ex Populus will serve for Laguna Games as it migrates its Crypto Unicorns games and associated NFTs from Polygon to Xai this year. And Batton said that he’s seen a “massive influx” of other studios reaching out since the airdrop to get involved with Xai, whether they’re building new games or migrating from existing chains.
In this dual role of game developer and distribution partner, Batton said that Ex Populus is attempting to be the Web3 version of Valve. That gaming powerhouse is known not only for operating the popular Steam PC gaming store, but also developing iconic games like Half-Life, Portal, and Counter-Strike. Fortnite maker Epic Games has charted a similar path.
Ex Populus doesn’t yet have the storied gaming legacy of those long-running giants, of course, but it also faces the immense challenge of trying to convince traditional gamers that user-owned NFT assets and crypto-driven economies are beneficial. And gamers have broadly not been too receptive to such overtures in the past.
What could make that easier is the way that the Xai network abstracts away the complexities of wallet use and asset handling for users who don’t want to get deep into the “crypto” of it all. Your average player doesn’t have to worry about self-custody of NFTs or tokens, plus Xai provides a gas-free experience for players.
“We had this crazy idea that if you remove wallets and remove gas from everything, that you can experience large growth,” Batton explained. “Really, the benefits of blockchain are the ability to trade items and own items—all the stuff we always hear about—but there's a tremendous amount of friction that stands in the way of that.”
There still are wallets, but for traditional gamers, they’re managed in the back end by the Xai team. And if you’d rather bring in your own wallet and self-custody your assets, that option is certainly available for veteran crypto users.
“As a traditional gamer who maybe isn't familiar with crypto or is a little averse to it, these games just seem like a normal game,” said Batton, who added that there would be wallet management features in the settings. “And then you're like, ‘Oh, I have a wallet. I didn't even know it.’ So it sort of breadcrumbs people into this experience in a way that doesn't seem so obtuse.”
our competitors aren't treasure, imx, ronin, or beam.
our competition is nintendo and valve.
decentralized gaming is inevitable.
— XAI (@XAI_GAMES) January 29, 2024
It’s been a busy couple of months for Xai. The Sentry Node sale, which let users invest in supporting the network and receive an allocation of XAI tokens, was a sizable success with about $30 million in sales. And the XAI airdrop that followed certainly made waves, putting over $150 million worth of tokens (at peak value) into users’ wallets.
But as Batton described, the journey dates back to 2022. It’s been a steady rise in prominence and buzz, in his view—and the biggest moves are still yet to come as games start going live on the network.
“It’s a grassroots approach—it didn't happen overnight,” he affirmed. “It took months and months and months of building this hype and this community and excitement.”
“Having Laguna agree to deploy their games is a big deal, because before this news, it was just hype. It's just an empty chain,” Batton added. “But now it's not an empty chain. It's got real games coming.”
Edited by Ryan Ozawa.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...
Has Also Written
Last updated:
November 27, 2024
Andreas Brekken, the founder of SideShift.ai, a platform offering direct-to-wallet trading, sat down (in his hammock) for an exclusive interview with the Cryptonews Podcast.
Talking with host Matt Zahab, Brekken recalled how difficult it was for people to buy BTC in 2011, noting that the ease of purchase today contributes to its adoption.
He remarked that meme coins are actually great for the crypto space because they are fun, cheap to get, and generally harmless. Importantly, they are stress-testing the biggest chains in the sector.
The crypto veteran talked about multiple markets happening simultaneously and the potential significance of the Ethereum Dencun upgrade.
Brekken also touched upon the necessity to re-examine our interaction with centralized exchanges and the need for services like SideShift.
In this interview, Brekken discussed:
Buying BTC in 2011 vs. today; Multiple markets currently happening at the same time; Rethinking how we interact with crypto exchanges — particularly as the bull run ushers in a new wave of mainstream adoption; How products like SideShift encourage mass adoption; The Ethereum Dencun upgrade; If meme coins are generally good or bad for the crypto space; How increased meme coin trading will show us the limits of current protocols, forcing chains to compete with each other to show who can handle the most traffic.
Brekken gave a wide-ranging exclusive interview, which you can see above or read below.
How the Bitcoin Times Have Changed!
Brekken discovered Bitcoin in 2011.
At that time, he said, there were very few routes for people to get BTC. One option was dark web markets, including the infamous Silk Road.
“But in my case, I’m just too much of a nerd,” Brekken remarked. He didn’t know about this avenue at the time.
But he had an advantage over an average Joe: he was a programmer.
Therefore, Brekken discovered information on BTC online and started learning about the novel technology.
Notably, at the time, anyone interested in BTC needed to install a program on their PC to get it. This program would create addresses and allow users to find a place to buy the coin, receive it, and send it.
This was obviously a much more difficult system than what we have today.
But Brekken said another advantage a programmer or engineer would have at the time is the way they view and think of technology.
They seek to understand how it’s made and how they can build upon it. They’ll to to find a way to improve it, create something similar, find another use case, etc.
Not every shiny coin on social media will lead to generational wealth.
AI recommends DYOR and safe trading.
Good job! 🎈 pic.twitter.com/q4O0SXuMFO
— SideShift.ai – Direct to Wallet Trading (@sideshiftai) March 24, 2024
Direct-to-Wallet Trading: Recipe for Mass Adoption
And this is how SideShift.ai was created. There was a way to make a piece of tech that would help fulfill a demand, and Brekken went for it.
The team developed an efficient, easy-to-use, newcomer-friendly platform that offers direct-to-wallet trading.
When one uses a centralized crypto exchange, there are many steps to complete before finally getting the coins.
This includes all the necessary log-ins, 2FA, KYC, choosing the deposit, finding the network, waiting for confirmations, and so on, says Brekken.
However, it can get more complicated in certain cases, such as buying a specific meme coin. For example, the user needs to trade BTC for UDTS first before getting WIF.
SideShift.ai performs the trade immediately and delivers the coins to the wallet, the founder said.
// USD WEEKLY SHIFT VOLUME – APR 9 TO 15 //
SideShift recorded a gross weekly volume of $22.9m alongside a SHIFT count of 11,669 shifts. These figures combined to produce healthy daily averages of $3.3m on 1,667 shifts. pic.twitter.com/8urons5elK
— SideShift Research (@XAIResearch) April 19, 2024
“That’s why we call it direct-to-wallet trading because it’s the only way I know to explain that you don’t have to click 700 buttons in order to do something as simple as just going from what you have to what you want.”
There was lots of demand for this service, he added.
But speaking of exchanges, Brekken gave a warning: take your funds out.
The more long-term view for this industry is that people need to stop leaving their money on exchanges. It’s a huge problem, he said.
Simply said, the incentives are not aligned between the user and the exchange.
The exchanges have full control over users’ funds and make money off of it.
Also, they may use the funds without telling users, be attacked, do a rug pull, etc. There are too many red flags.
Oui oui! SideShift about to be available directly in the Ledger wallet https://t.co/ytGDcUxwHN
— Andreas (@abrkn) April 16, 2024
AI In Name Only
Brekken briefly touched on the ‘AI’ part in ‘SideShift.ai.’
“I’m going to be completely honest with you,” he said, “I just thought it sounded really awesome.”
The closest the company will get to an actual AI is the amount of automation they’ve done.
The company has a small team of people who deal with “quite a lot of volume.”
Yet, they keep everything smooth and stable thanks to “excessive automation internally,” Brekken said.
There’s very little human intervention, he added. “It’s like a giant machine” running nearly everything.
AI advises HUMANS to do their own research to be confident in their financial journey.
ATTACHING: Meme for motivation
Good job! 🎈 pic.twitter.com/eRli2v5Iw1
— SideShift.ai – Direct to Wallet Trading (@sideshiftai) April 13, 2024
However, when talking to customer support, the team “makes it a bit confusing” for people to know if they’re talking to a human, a machine, or a machine pretending to be human.
“More likely, you might be talking to a human pretending to be a machine,” Brekken said.
And speaking of the team, the founder noted that SideShift.ai is currently hiring for a number of roles, especially engineers.
Meme Coins Are Stress-Testing Major Chains
Commenting on the ongoing meme coin craze, Brekken said that he himself was “really into” Dogecoin when it launched in 2013.
Looking at the craze now, “It was the exact same thing back when there was only Dogecoin, but obviously, this is on steroids.”
There are many more of these coins now, many more communities, and more people involved – even those outside the crypto space. It’s difficult to visit a café without overhearing a conversation about WIF or BONK, Brekken remarked.
But, generally speaking, meme coins are beneficial for the space, Brekken remarked. “I think it’s good in many ways that people are trading meme coins,” he said.
He argued that these coins create fun for friends and communities, that they are harmless, and also an excellent way for people to enter crypto.
Bitcoin’s $60,000-$70,000 price tag can be intimidating for newcomers. Once bought, there’s also a lot to lose.
But with meme coins, it’s a lot easier to afford and trade them.
Degens need something to gamble on, and the shiny new things are memecoins. 🤡
Catch all of the PvP action, hot takes and more in this week's spicy newsletter!
Read it now: https://t.co/dmEDPBMuyr pic.twitter.com/289DdZ9819
— Shitcoin.com (@ShitcoinDotCom) March 23, 2024
And this space is growing as well. Now, users have more advanced tools at their disposal trading BONK than they do trading Apple shares, Brekken argued.
Additionally, trading meme coins is potentially becoming a competitor to another giant: sports betting.
“It’s quality fun with your friends,” Brekken said.
Lastly, but importantly, all this activity is stress-testing the technology, specifically the chains these tokens reside and move on.
Solana and Ethereum, in particular, are being stress-tested. Different chains are competing. They must work hard not to fall behind and lose users.
“I will bet you, [the developers] are all working day and night on all these platforms and chains […] to just keep this running and to try to find ways to deal with this record-level high demand for throughput and capacity,” Brekken said.
Multiple Parallel Markets At Work
Another exciting point Brekken made is that we currently seem to be witnessing multiple markets happening simultaneously.
Previously, we’d see one sector at a time significantly rising above others, each with its own cycle.
For example, in the last cycle, there was a decentralized finance (DeFi) summer that turned into a Solana summer. This gradually shifted into a “mania” centered around FTX, and so on.
Today, however, we’re seeing the spot Bitcoin exchange-traded funds (ETFs) taking off, the meme coin market continuation, and a new DeFi wave.
It also seems like these three have separate risks and somewhat separate users, Brekken opined.
Don't be a piggy in the fight between bulls and the bears.
Plan your trades wisely. Good job! 🎈 pic.twitter.com/WSm848Yp9V
— SideShift.ai – Direct to Wallet Trading (@sideshiftai) April 13, 2024
That said, he hopes that the meme coin cycle will continue to attract more newcomers to the space and encourage users within other cycles to explore other crypto-related markets.
The bull market has been “creeping up on us since the desperation we all felt” when Bitcoin was $20,000-$25,000.
Therefore, Brekken hopes the three different cycles will affect each other positively and prolong this bull run.
“If you’re still alive with a good-looking meme coin portfolio [by the end of summer], I think you are a genius,” he added.
Ethereum Dencun Upgrade and Path to Sharding
Lastly, Brekken briefly discussed certain developments in the space, including the Ethereum Dencun upgrade, which went live in March.
The upgrade aimed to significantly boost the Ethereum ecosystem, reduce Ethereum layer-2 blockchain transaction fees, and pave the way for sharding in the future, which will finally lower Ethereum’s high layer-1 fees.
What surprised Brekken about these Ethereum upgrades is that everybody connected to the Ethereum ecosystem, including other chains, was fully ready at the moment the update went live.
This is a positive development.
There is no longer a need to develop separate software for several years to support an upgrade. These are instantaneous now.
Another notable thing is the ongoing talk about sharding.
Deep dive on Ethereum's sharding roadmap from @Delphi_Digital. It's very good! https://t.co/oiTEqLFXGx
— vitalik.eth (@VitalikButerin) May 27, 2022
Sharding is a solution that optimizes the process of verifying transactions and smart contracts by splitting the blockchain network into partitions called shards.
This way, every node does not need to review the entire transaction history on the network.
Instead, specific nodes are assigned to specific shards, optimizing the process of nodes verifying transactions.
This, said Brekken, has the potential to send ETH to $5,000.
Therefore, the upgrades we’re seeing now are the developers gradually building a path towards sharding. Brekken said it’s a large project that will likely take a few years to complete.
__________
About Andreas BrekkenAndreas Brekken is the founder of SideShift.ai, a platform offering direct-to-wallet trading. To date, the exchange has processed over $1.25 billion in volume.
Brekken first discovered Bitcoin in 2011 and has a deep technical understanding of the cryptocurrency space.
In addition to being a long-term crypto supporter, he has substantial hands-on industry experience.
In 2013, he founded Justcoin.com, a Norway-based cryptocurrency exchange (later acquired by ANX INTL), and then worked as a software engineer at Kraken in 2015 and 2016.
Brekken is also the founder of Shitcoin.com, a wide-reaching crypto content platform.
Andreas Brekken, founder of SideShift.ai, recently shared his insights on the emerging Runes Protocol and its implications for the Bitcoin ecosystem.
Crypto.news received exclusive comments via email on Brekken’s views about the Runes Protocol, which gained hype and popularity during the recent Bitcoin Halving.
The Runes Protocol, which utilizes the Bitcoin UTXO model without adding a secondary fee token, offers a streamlined approach to token standards that could improve transaction efficiency and lower costs.
“The Runes standard improves on previous models by sticking to Bitcoin’s UTXO model and not adding a secondary fee token,” said Brekken. This approach allows for the low-cost transfer and minting of tokens, fostering greater adoption within the Bitcoin community.
Brekken attributed the initial surge in Runes’ activity to investors’ shifting interests from NFTs to meme coins, particularly on platforms like Solana (SOL).
According to data from Dune Analytics, Runes still make up the majority or a little less than half of the daily Bitcoin transactions, showcasing their popularity on the network post-Halving.
Dune Analytics: Runes transactions vs Other transactions on the Bitcoin network The introduction of Runes allowed these investors to continue participating in the meme coin trend under the Bitcoin (BTC) umbrella. “Investors bought Runes hoping to continue riding the memecoin wave on Bitcoin,” Brekken explained.
Despite its initial success, Runes has seen a decline in activity, with a significant drop in new token creation and wallet interactions. Brekken believes this is part of the cyclical nature of meme coin trading, which tends to fluctuate between blockchains.
“The Runes community needs to fight for attention. Meme coin traders should be ready to flock to Runes when the next rotation happens. When that rotation comes, they should be pushing for the first ‘billion-dollar meme’ on Runes similar to successful meme coins like PEPE, WIF, or BONK,” he stated, suggesting that an aggressive approach could reignite attraction in Runes during the next market rotation.
The blockchain for data announced a key partnership with leading launchpad TrustSwap and management platform Team Finance.
Flare, the popular blockchain aimed at improving data efficiency, is announcing an integration with TrustSwap – a leading launchpad, as well as Team Finance, which is a token management platform.
Big Names In The Industry Join Forces According to a press release shared with CryptoPotato, the partnership will bootstrap a new chapter for developers on Flare. They will be able to raise capital, manage token logistics, and even reach new communities through the fundrasing tools provided by TrustSwap.
The first project to launch from the alliance will be the native decentralized exchange (DEX) and DeFi platform on Flare – SparkDEX. This will happen through its anticipated SPRK token IDO (Initial DEX Offering).
SPRK will serve as both the governance and utility token for SparkDEX. The decentralized exchange has seen steady growth this year, climbing from a Total Value Locked (TVL) of $25 million at the beginning of May to over $100M in TVL at the time of writing, as per data from DefiLlama.
Max Luck, the Head of Ecosystem at Flare, had the following to say about the merger:
“We’re thrilled to bring TrustSwap and Team Finance into the Flare ecosystem. By partnering with a trusted platform that has successfully supported over 100 public launches and raised more than $100 million, we’re giving builders and users on Flare access to one of the most reputable token launch infrastructures in Web3.”
The Flare blockchain is a full-stack Layer-1 (L1) solution designed for data-intensive use cases. It is currently the only EVM-compatible chain optimized for creating intelligent decentralized applications (DApps) that integrate DeFi, AI, and traditional finance (TradFi).
The network is supported by two protocols: the State Connector, which enables the use of external blockchain data, and the Flare Time Series Oracle (FTSO), which serves as a source of reliable off-chain data for use on the network.
You may also like: Important Ripple (XRP) Deadline Concerning Many Users Sahara AI Denies Security Issues as Token Price Drops Over 60% DeFi Users Warned to Revoke Approvals Before Anthropic’s Mythos AI Launches TrustSwap is a launchpad that provides DeFi tools for token holders and businesses to buy, trade, create, and secure crypto assets with confidence, boasting the aforementioned track record. At the time of printing, over 30,000 projects are currently utilizing the protocol, and it is now live on the Flare blockchain.
Team Finance is the launch platform’s token management suite, already embedded into SparkDEX, providing a stable backend for tokens on Flare. They also offer self-service minting of tokens, liquidity/token locks, vesting schedules, and multisending for token distribution.
The three-company conglomerate will also receive support from The Crypto App, a known portfolio tracker and news hub for Web3.
Alongside it, liquidity will be provided by the Amplifi Fund, with automated management to support DEX trading volume for future token launches.
Flare’s been cooking up something big for projects looking to launch tokens—and today it finally goes live. The Flare team has teamed up with TrustSwap’s launchpad and Team Finance’s token-management toolkit, meaning anyone building on Flare can now raise funds, lock up liquidity, schedule vesting—and even tap into fresh audiences—without breaking a sweat.
“We’re thrilled to bring TrustSwap and Team Finance into the Flare ecosystem,” said Max Luck, Head of Ecosystem at Flare. “By partnering with a trusted platform that has successfully supported over 100 public launches and raised more than $100 million, we’re giving builders and users on Flare access to one of the most reputable token launch infrastructures in Web3.”
Why TrustSwap Matters TrustSwap isn’t some flash-in-the-pan startup. They’ve shepherded 100+ token launches and helped projects raise north of $100 million. Today, Flare-native teams can set up a public sale in a handful of clicks, all on a platform that’s compliant, transparent, and battle-tested.
If TrustSwap’s the front end, Team Finance is the engine. Trusted by over 35,000 projects and managing more than $2 billion in tokens, it offers:
Instant token minting—get your token live in minutes, not days.
Liquidity locks—lock up funds so early investors know their money is safe.
Vesting schedules—make sure founders, teams, and investors unlock tokens on your timeline.
Bulk token distribution—drop tokens to thousands of wallets without the headache. For teams, that means less fiddly paperwork and more time building. For token buyers, it’s peace of mind: every launch on Flare will be backed by enterprise-grade safeguards.
Plugging into The Crypto App Want eyeballs? Flare now connects directly with The Crypto App, home to over 5 million downloads and 200,000 daily users. Think in‑app portfolio tracking (similar to Blockfolio or CoinGecko) plus ad slots that drop your project in front of a global crypto crowd.
Even the best token sales stumble without liquidity. That’s why Flare has teamed up with Amplifi to seed a smart FLR launch fund alongside IDOs. Amplifi’s algorithms keep order books healthy and trading volume humming from day one.
SparkDEX’s $SPRK Token All these tools will shine in SparkDEX’s upcoming $SPRK IDO, going live later this month. SparkDEX stormed onto Flare in 2025, blasting TVL up by 650 percent and handling over $4 billion in volume—thanks in part to its USDT0 cross‑chain feature. Soon, with native XRP (via FXRP) arriving on Flare, SparkDEX looks set to dominate what its team calls “XRPFi.”
Here’s what $SPRK holders get:
Governance – Vote on fees, upgrades, and the roadmap.
Revenue share – SparkDEX has already racked up half a million in fees; those dollars get funneled back through staking rewards, buybacks, and token burns.
Staking perks – Put up $SPRK for liquidity, earn more $SPRK—it’s in everyone’s interest to keep the pools deep.
Future features – From AI-driven trading hooks in a V4 DEX to insurance vaults, $SPRK is the key that unlocks SparkDEX’s next set of toys. Keep an eye on SparkDEX and Team Finance’s channels for exact timing and details. Flare’s mission has always been to fuse blockchains with real‑world data, opening doors for DeFi, AI, identity, and more—all in one EVM‑compatible Layer 1.
Today’s TrustSwap and Team Finance launch is a big leap toward that future: builders get a polished launchpad, investors get peace of mind, and the whole Flare network gains fresh momentum. If you’ve got a killer idea, now’s the time to plug in.
AUTHOR
Mushumir Butt is a seasoned crypto journalist with over three years of experience reporting on the world of blockchain and cryptocurrency. At Blockchain Reporter, he delivers insightful news, in‐depth project reviews, and precise price analysis and predictions. With a strong background in SEO and digital marketing, Mushumir excels at breaking down complex trends into clear, accessible content, ensuring readers stay ahead in the fast‐paced crypto space.
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Per recent announcements on the project’s official social channels, SparkDEX is capitalizing on a recent influx of capital and massive momentum by moving forward with its own token launch. $SPRK, the native token of the SparkDEX DeFi suite, will debut in late July on Flarepad, TrustSwap’s brand-new launchpad dedicated to Flare-native projects.
With its $SPRK token launch slated for late July, SparkDEX made May 2025 a month to remember. The Flare-native DeFi suite achieved unprecedented growth in Total Value Locked (TVL), trading volume, and usership following its strategic integration of USDT0.
Since implementing Tether’s innovative multichain liquidity standard, SparkDEX has recorded a staggering 650% increase in TVL, which has since stabilized at more than $90 million. With such a recent surge, many around the space are expecting SparkDEX’s $SPRK token launch to be no different.
The project’s recent trajectory appears to merely be part of the greater ascent of Flare DeFi. Flare, which currently sits at a market cap of more than $1 billion, is a Layer 1 EVM chain focused on enhancing interoperability between different blockchains and decentralized finance. As the home of Flare’s leading DEX and Perpetual Exchange, SparkDEX Eternal, SparkDEX and Flare are charting a course for a new paradigm of high- performance DeFi.
USDTO—Quite a Catalyst SparkDEX’s integration of USDT0 has proven to be a masterful move that has resulted in an extraordinary surge in prime metrics. Since implementing Tether’s innovative multi-chain liquidity standard, SparkDEX has recorded a rapid and staggering 650% increase in TVL that has since stabilized at more than $90 million.
The expansion has extended beyond mere capital accumulation as well, with SparkDEX processing an impressive $3 billion in total trading volume, tripling its original $1 billion milestone achieved over the course of its initial eight months of operation. Likewise, user onboarding has flourished, with over 2,500 unique users. The frenzy like-growth is apparent and many expect the momentum will continue with the $SPRK token launch in late July.
Flare’s highly anticipated XRPFi Revolution SparkDEX’s success is not solely a result of its own operations; it has a lot to do with its positioning in the Flare ecosystem as well. Already in the Web3 spotlight for its highly scalable Layer 1 EVM chain, Flare is in the process of activating its coveted FAsset program, which allows major digital assets that live on chains without smart contract support to integrate directly into DeFi. Thanks to Flare, FAsset holders will be able to provide liquidity, generate yield, and participate in decentralized lending and borrowing via the FAsset program.
FXRP is leading the charge and has already been successfully deployed on Songbird, Flare’s canary network. With FXRP now poised for imminent launch on the Flare mainnet, many in the DeFi space are preparing for a likely influx of more than $100 billion in fresh liquidity into Flare’s potent DeFi ecosystem. The arrival of FXRP will position SparkDEX to become the cardinal hub for XRPFi, offering XRP holders unprecedented opportunities to participate in decentralized trading, liquidity provision, and yield generation.
About the team SparkDEX is the leading DeFi suite on Flare, offering swaps, liquidity provision, farms, and decentralised perpetuals trading. The project’s core team is composed of successful individuals with deep backgrounds and proven track records within the Web3 space.
The SparkDEX Core Team — Co-founder: Alexi Atlas
— Instrumental in much of QuickSwap’s success. QuickSwap currently has a market cap of nearly $15 million, a TVL (Total Value Locked) of almost $330 million, and is renowned for its exceptionally fun and friendly community approach.
— Co-founder: Steve
— Instrumental in the success of MetaVault and GrizzlyFi. MetaVault currently boasts a
robust 8.647 Billion in trading volume and is trusted by almost 232,000 users worldwide. Grizzly has raised a total of $26 million in only 4 short years.
— Business Development Lead: Asya Suveren
— Has primarily focused on the communications to support many early-stage Web3 projects.
SparkDEX’s marketing, incubation, and public relations efforts are also backed and supported by the highly respected incubation studio, marketing agency, and public relations firm, Lunar Digital Assets.
The SPRK Token With Bitcoin acting as Web3’s lone high-performer in 2025, one DeFi platform has finally broken out of the pack to make positive waves across the dark, dreary, and stormy altcoin sector. Even amidst challenging conditions in the current altcoin market, SparkDEX and Flare have successfully injected vitality into the DeFi sector while demonstrating that substantial growth remains feasible for projects that prioritize innovation and market demand with tested, tried, and proven results.
Conclusion The $SPRK token is designed to contribute to the platform’s decentralization by conferring governance powers to token holders, setting the stage for the Flare DeFi community to participate in key decisions regarding protocol development and parameter adjustments. This strategy stays true to DeFi’s founding principles. Beyond governance, $SPRK will also play a key role in SparkDEX’s incentive structure, adding yet another avenue to reward liquidity providers, traders, and other ecosystem participants.
Most importantly, in an altcoin market that has been characterized by speculation, fleeting enthusiasm, and the fog of loss and sorrow, SparkDEX is rising to the occasion to stir the headwinds and allow for hope and light. SparkDEX and Flare have managed to very recently generate substantial momentum and influx.
The team has once again proven that projects focused on genuine utility and user value, and which are established by trusted and previously accomplished teams, can thrive regardless of broader market sentiment – especially those in DeFi. As these initiatives continue to unfold, SparkDEX is positioning itself not just as a leading DEX on Flare or a dominant force in the XRP ecosystem, but as a powerful player in the broader DeFi landscape.
The $SPRK Token: Uplifting DeFi in the Face of Challenging Market Sentiments
With Bitcoin acting as Web3’s lone high-performer in 2025, one DeFi platform has finally broken out of the pack to make positive waves across the dark, dreary, and stormy altcoin sector. Even amidst challenging conditions in the current altcoin market, SparkDEX and Flare have successfully injected vitality into the DeFi sector while demonstrating that
substantial growth remains feasible for projects that prioritize innovation and market demand with tested, tried, and proven results.
The $SPRK token is designed to contribute to the platform’s decentralization by conferring governance powers to token holders, setting the stage for the Flare DeFi community to participate in key decisions regarding protocol development and parameter adjustments. This strategy stays true to DeFi’s founding principles. Beyond governance, $SPRK will also play a key role in SparkDEX’s incentive structure, adding yet another avenue to reward liquidity providers, traders, and other ecosystem participants.
Most importantly, in an altcoin market that has been characterized by speculation, fleeting enthusiasm, and the fog of loss and sorrow, SparkDEX is rising to the occasion to stir the
headwinds and allow for hope and light. SparkDEX and Flare have managed to very recently generate substantial momentum and influx. The team has once again proven that projects focused on genuine utility and user value, and which are established by trusted and
previously accomplished teams can thrive regardless of broader market sentiment – especially those in DeFi. As these initiatives continue to unfold, SparkDEX is positioning
itself not just as a leading DEX on Flare or a dominant force in the XRP ecosystem, but as a powerful player in the broader DeFi landscape.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.
BurgerCities aims to create a unified and standardized metaverse world in Web3 by integrating DeFi and NFT into the broader Metaverse. In this world, users can perform daily activities such as social sharing and gaming. They can also experience DeFi and NFT functions like trading, staking, NFT exhibitions, or Gamefi with their avatars.
BurgerCities is a cryptocurrency created within the BNB Chain ecosystem. It is a platform that combines both the metaverse and decentralized finance (DeFi), where people compete for rewards. It defines itself as MetaFi.
Within the BurgerCities ecosystem, people can participate in daily activities like playing games and socializing to earn rewards. As a metaverse project, it also integrates NFTs. Therefore, it is possible to earn significant returns by participating in games, similar to Axie Infinity.
Some of the key components of BurgerCities include the Black Market, which integrates a cross-chain aggregator for major DEX and CEX protocols. Additionally, there is a power plant where users can become liquidity providers and a central bank that serves as the network’s single-token dual mining revenue aggregator. It is also possible to purchase virtual properties within the ecosystem.
In addition, BurgerCities was developed from another project by the same team called BurgerSwap. BurgerSwap was a DeFi platform built on BNB. It emerged as a decentralized exchange service that uses an automated market maker to allow users to swap cryptocurrencies.
At one point, DeFi projects saw a decline, and people began to lose interest in them as well as in NFTs. This was when the idea of Web3 started to attract attention. It was described as a push that led the team to create a metaverse and provide a broader online living experience.
Although BurgerCities is a relatively new project, it is said to have the following advantages:
Combines different aspects of the crypto world such as DeFi, NFTs, and gaming.Integrates the gaming experience with play-to-earn and rewards.Includes a cross-chain aggregator for DEX and CEX protocols.BURGER can be exchanged with other cryptocurrencies on the platform.How to Buy BURGER Coin?BURGER Coin can be quickly and securely purchased through Binance, the world’s largest cryptocurrency trading platform by trading volume.
To buy BURGER Coin, you first need to become a member of Binance and then transfer fiat currency. After transferring fiat currency such as Turkish Lira or dollars, you can perform the purchase transaction in the BURGER trading pair of Ethereum (ETH), Binance Coin (BNB), BUSD, and Tether (USDT) where BURGER is traded.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
BurgerCities merges the metaverse with Decentralized Finance (DeFi) to create a distinctive MetaFi offering on the BNB Chain.
What is BurgerCities (BURGER)?The MetaFi game is an ecosystem that combines the Metaverse experience with financial markets. Users can interact with the social aspects of the metaverse while simultaneously engaging in NFT and token transactions. BurgerCities originated from an existing DeFi product on Binance called Burgerswap. Developers describe BurgerCities as “the first standardized blockchain-enabled metaverse scenario game on BSC.”
In statements from the team, it was mentioned, “People can participate in daily activities like socializing and gaming in this realm. At the same time, they can experience DeFi and NFT functions such as viewing Swap, Staking, and NFT exhibits through visual metaverse images.”
Within the metaverse, there are three main buildings set in a city environment. The three buildings are the Black Market, Energy Plant, and Central Bank. The Black Market serves as a cross-chain marketplace supporting major centralized and decentralized exchanges, allowing users to trade various digital assets. The Energy Plant is a liquidity provider that enables users to easily liquidate their assets. Finally, the Central Bank is the metaverse’s mining-income collector, accumulating mining revenues in USDT and offering them as rewards to users. Additionally, users can own a plot of land and create homes, similar to the game “The Sims.”
Where to Buy BURGER Coin?BURGER Coin can be securely bought and sold on Binance, the world’s largest cryptocurrency exchange by trading volume. On Binance, BURGER Coin is available for trading in pairs such as BURGER/ETH, BURGER/USDT, BURGER/BNB, and BURGER/BUSD.
To buy BURGER, you must first register with the Binance exchange. Once registration is complete, you need to transfer either cryptocurrency or fiat currency to your Binance wallet. After completing the transfer, you can purchase BURGER using any of the three pairs mentioned above. To buy through the BURGER/USDT trading pair, first navigate to this pair’s interface. Enter the desired purchase amount in the limit section, and then proceed with the order to buy BURGER.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Binance, one of the world’s largest crypto exchanges, has shortlisted 10 altcoins for close monitoring, with potential for delisting.
This review, set to take around 30 days, reflects Binance’s attempts to enhance market quality.
Binance Shortlists 10 Altcoins For Potential DelistingFollowing its announcement to list GoPlus Security (GPS), Binance shared another update detailing extending its monitoring tags to 10 altcoins.
Specifically, Aergo (AERGO), Alpaca Finance (ALPACA), AirSwap (AST), Badger DAO (BADGER), BurgerCities (BURGER), COMBO (COMBO), NULS (NULS), STP (STPT), UniLend (UFT), and VIDT DAO (VIDT) are now on the list, effectively placing them on high risk of delisting.
“Tokens with the Monitoring Tag exhibit notably higher volatility and risks compared to other listed tokens. These tokens are closely monitored, with regular reviews conducted. Keep in mind that tokens with the Monitoring Tag are at risk of no longer meeting our listing criteria and being delisted from the platform,” Binance explained in a blog.
Accordingly, Binance has implemented a new requirement for users looking to trade any tokens marked on its Spot trading and Margin platforms. To gain access, traders must pass a risk-awareness quiz every 90 days. This measure ensures that users understand the risks associated with these tokens before engaging in trades.
The exchange emphasized that this shortlisting does not guarantee delisting. Binance will conduct periodic project reviews and decide whether to add or remove the Monitoring Tag. Notably, this decision will hinge on current findings after the review process.
Nevertheless, this assurance did not assuage token holders. In the immediate aftermath of this potential delisting announcement, the values of the 10 cited tokens dipped, posting double-digit losses as investors traded the news.
AERGO, ALPACA, AST, BADGER, BURGER, COMBO, NULS, STPT Price Performance. Source: TradingViewNotably, tokens with the Monitoring Tag present high risk due to concerns spanning regulatory uncertainty, low liquidity, or extreme volatility. Binance displays this tag on the corresponding Spot and Margin trading pages and the Markets Overview section. Additionally, the exchange shows a risk-warning banner whenever users interact with these tokens.
Citing community feedback, the leading exchange by trading volume said its monitoring tag would now be updated monthly. Nevertheless, it will continue to review the removal of Monitoring and Seed Tags quarterly.
“New projects will be added in the first week of every month,” the exchange added.
By enforcing this requirement, Binance aims to educate and protect its users, ensuring they make informed decisions. The move reflects the exchange’s increasing focus on risk management and compliance in a growing regulatory environment.
Meanwhile, the drop seen across the affected tokens is unsurprising, presenting as a typical reaction to such announcements. For instance, in December, Binance’s decision to delist three altcoins sent affected tokens down a cliff to record double-digit losses.
Conversely, listing announcements have the opposite effect. BeInCrypto reported earlier how Binance exchange’s move to list GPS sent the token soaring by over 10%.
Binance has sparked market discussions with its latest move to delist five tokens from its platform. This has raised market concerns over a potential crash of the tokens in the coming days. According to the announcement, the crypto on the list are AERGO, AirSwap (AST), BurgerCities (BURGER), Combo (COMBO), and Linear Finance (LINA).
Binance To Remove These Cryptocurrencies; Here’s Why Binance recently announced to delist AERGO, AirSwap (AST), BurgerCities (BURGER), Combo (COMBO), and Linear Finance (LINA) from its platform, sparking market concerns. Notably, the leading exchanges often have great influence in the market and any major announcement from them could impact the asset’s prices.
For context, the exchange has recently extended its support for Broccoli and other cryptocurrencies. Following its announcement, all the crypto prices have skyrocketed, reflecting the heavy influence of the exchange. Considering that, the latest delisting announcement could trigger a widespread selloff of the mentioned tokens.
Meanwhile, the crypto exchange said that it often conducts periodic evaluations to ensure compliance with industry standards. Failing to meet the criteria results in the delisting of the tokens. The exchange mentioned several aspects behind its delisting decision like project commitment, trading liquidity, regulatory concerns, and security risks.
A Closer Look Into The Binance Announcement The exchange will halt trading for AERGO, AST, BURGER, COMBO, and LINA starting March 28 at 03:00 UTC. Several key services, including futures contracts, margin trading, and staking options, will be stopped before the official removal date. Notably:
Binance Futures will close all positions and conduct an automatic settlement for AERGOUSDT, COMBOUSDT, and LINAUSDT perpetual contracts on March 27 at 09:00 UTC. Margin Trading for the affected tokens will be disabled from March 26 at 06:00 UTC, with users advised to close positions before liquidation. Deposits of these tokens will not be credited after March 29, and withdrawals will be unsupported after May 27. In addition, the exchange said that it will introduce a Vote to Delist feature, allowing the community to have a say in future delisting decisions. However, the current batch of delisted tokens will not be part of this initiative.
How These Five Tokens Are Performing? AERGO price was down more than 6% to $0.06845 following the Binance announcement, with its trading volume soaring 43% to $30.46 million. On the other hand, AST price plunged about 28% to $0.03375 with its one-day volume rocketing 88% to $5.25 million.
Simultaneously, BURGER price retreated 48% to $0.1127 while COMBO price declined 20%. Linear Finance price also recorded a slump of over 32%, indicating the waning market interest in the tokens.
As the winter season warms up, so does the price fluctuation and enthusiasm within the crypto markets, especially in the meme space. CULT has caught the attention of enthusiasts and investors alike. The crypto’s rapid ascent and the dramatic plunge made significant waves in the crypto space.
According to Spot on Chain, despite CULT’s controversial launch and current extreme volatility, many savvy traders are still rushing to accumulate the tokens.
In the last two days, the on-chain analytics platform spotted two whales who recently bought Cult DAO to rebalance their portfolios and capitalize on the meme coin’s potential.
Whales increase cult accumulation CULT has huge backing from big investors. This is interesting despite Cult DAO being a new token, launched five days ago. Spot on Chain recently identified two whales buying CULT using ETH worth $754k and EIGEN worth $360k respectively.
Today December 11, the blockchain analytics platform identified a trader who spent 207 ETH (worth $754,000) to buy 127.89 million Cult tokens six hours ago. The investor currently holds $1.76 million in unrealized profits from MOG (+244%) and PEPE (+187%).
Two days ago, the on-chain metrics tracker also spotted another trader who exchanged 80,000 EIGEN tokens (worth $360,000) for 58.28 million CULT tokens. According to Spot on Chain, this investor is well-known for wash-trading his #9998 punk for 124,000 ETH coins in 2021. He is also recognized for earning 215 ETH tokens (valued at $255,000) during the stETH depeg in 2022 and investing in RFD coins in 2023.
These purchases indicate a surged interest in Cult DAO, suggesting it is a potential coin that could give traders and investors an opportunity for growth.
CULT feels market pressure Cult DAO is the latest addition to the digital asset market, already creating a buzz in the crypto community. Last Thursday, December 5, Cult meme coin officially launched its mainnet on the Ethereum protocol. The development led to a massive rise in its fully diluted value, reaching over $600 million within hours after its debut.
The token’s market cap climbed to a height of $845 million but retracted back to $630 million. However, its market value currently stands at $78.03 million, indicating a huge decline in its market activity.
Cult, a newly launched meme coin created by the creators of Redacted Remilio Babies and Milady NTF projects, has captured the crypto community’s attention with its recent airdrop event. The campaign dropped a total value of $207 million worth of CULT tokens to holders of Redacted Remilio Babies and Milady NFTs.
Some of the recipients of the Cult airdrop include Aave founder Stani and Dragonfly investor Tom Schmidt who received airdrops worth $100,000 and $150,000 respectively.
What’s next for CULT? The Cult DAO project started its journey in June when it raised over $20.5 million during its pre-sale, establishing enthusiasm among investors. The fund is meant to support both long-term and short-term community growth to help maintain the ecosystem’s stability.
Cult’s launch came with an interesting twist – a huge airdrop focusing on holders of Remilia NFTs like Redacted Remilio Babies and Milady Maker. The airdrop brought excitement within the NFT community, further creating enthusiasm following its launch.
CULT ignited users’ attention because of its unique proposition. Charlotte Fang, the CEO of Remilia Corporation, stated on social media that Cult DAO is more than just a meme coin. She said the token is a memeplexcoin (metamemecoin) designed to unlock unique values by bringing participants together in innovative ways.
Cult DAO is part of an emerging trend of NFT projects moving into the crypto market. Pudgy Penguins, another popular NFT collection, recently rolled out its own meme coin, Pengu, and intends to release a massive airdrop to reward holders and the community.
AUTHOR
Nicholas Otieno is a fintech writer specializing in cryptocurrency markets. Since 2019, he has written articles to educate readers about cryptocurrency and its substantial positive impact on global prosperity. Nicholas is a Bitcoin holder, believing firmly in its fundamentals. His work has been featured in publications such as Finance Magnates, Blockchain.News, Bitcoin Magazine, Coincub, and among others. When he's not writing, Nicholas enjoys performing domestic tasks, spending time with friends, listening to music, and watching football.
The EEA Mainnet Working Group, an initiative backed by both the Enterprise Ethereum Alliance and the Ethereum Foundation to bring enterprises to the Ethereum mainnet, has formed a new task force that includes decentralized oracle project Chainlink as a key member.
That task force, dubbed EMINENT for “Ethereum Mainnet Integration for Enterprises,” will work to create reliable standards for businesses that want to use “corporate systems of record” like the Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP) systems in conjunction with Ethereum.
We're excited to work w/ @UnibrightIO, @AnyblockTools, & other EEA members on EMINENT (Ethereum Mainnet Integration for Enterprises). Its focus is on the standards & specs for integrating Ethereum Mainnet with ERP, CRM, & other corporate systems of record. https://t.co/BO802xNWGE
— Chainlink (@chainlink) January 27, 2020
Chainlink has been welcomed to the EMINENT initiative as its resident oracle authority.
Chainlink will also be joined on the task force by analytics firm Anyblock Analytics and Unibright, a company that helps enterprises integrate with blockchain technology.
What Comes Next? The task force will spend up to two years on their work, first in researching the recording dynamics at hand and thereafter in establishing guidelines and creating open-source reference implementations that businesses can follow.
As the EEA Mainnet Working Group explained further in its announcement of the task force this week:
“Initially, the task schedule will focus on defining work packages, then expand into building best practice solutions within proof-of-concept implementations, and finally provide open-source available documentation and specification basis (like ERC standards) for further development by the public Ethereum community and EEA members.”
Chainlink a Natural Fit to Help John Wolpert, the vice-chair of the EEA Mainnet Working Group, noted on the news that Chainlink was uniquely suited to productively contribute to the new task force:
“To make this work, we need experts laying down the standards for common-sense integration with enterprise systems of record. Unibright has the experience connecting blockchain to ERP. Chainlink has the experience keeping different databases, run by different companies, in a state of consistency. That’s a promising combination.”
Sergey Nazarov, the co-founder and de facto face of Chainlink, commented that he and his team are looking forward to helping the EMINENT initiative tackle the challenges in front of it head on, saying:
“We’re excited to work closely with the EMINENT Task Force to continually push the boundaries of what’s possible in public blockchain environments. Developing mainnet integration standards that take into account the specific challenges of enterprises is key to the EMINENT Task Force being able to leverage the unique advantages of public blockchains, while seamlessly and securely incorporating their current systems of record and key data sources.”
Chainlink Presses Ahead on Integrations No stranger to locking down integrations with other projects, Chainlink’s backers have secured another three melds with their decentralized oracle middleware in just the last week alone.
The first of those newly announced integrations was with BetProtocol, a decentralized gaming platform. Among other things, the protocol will look to leverage Chainlink so users can settle bets with off-chain data.
The second fresh link up comes courtesy of ICON, the South Korean blockchain project associated with the ICX cryptocurrency. “The initial application is securing the ICX/USD price feed so ICON Dapps can build financial products based on the USD equivalent of ICX,” the Chainlink team explained.
Thirdly, Chainlink also just revealed that its tech would be used by the Alkemi open finance prime brokerage platform to “to enforce price thresholds (for unlocking assets pre-expiry date) set by on-chain liquidity providers.”
In other words, it’s been a typical week for the Chainlink community, which is now used to quickly racking up such integrations after locking down dozens last year.
If the project can keep up a similarly rapid and productive pace in 2020, then it’s likely to remain the most interesting oracle effort to watch in the months ahead.
William M. Peaster
William M. Peaster is a professional writer and editor who specializes in the Ethereum, Dai, and Bitcoin beats in the cryptoeconomy. He's appeared in Blockonomi, Binance Academy, Bitsonline, and more. He enjoys tracking smart contracts, DAOs, dApps, and the Lightning Network. He's learning Solidity, too! Contact him on Telegram at @wmpeaster
Unibright is a project that has been generating quite a bit of interest recently. So much so that the UBT token has been rallying in price as traders have been snapping it up.
However, behind the impressive performance is a really interesting project that is looking to take enterprise blockchain adoption to the next level. Unibright is also looking to be the connecting fiber between the open source Ethereum network and companies.
So, is it really worth considering?
In this Unibright review, I will attempt to answer that. I will also take a look at the long term use cases and adoption potential of the UBT Token.
What is Unibright?Unibright is a fairly new blockchain project that's self-described as the “unified framework for blockchain based business integration.” Whew! That's quite a mouthful, but what exactly does it mean, and how can we use Unibright?
In essence Unibright is being created to give companies and other organizations the ability to utilize blockchain technology without the extensive costs, huge hassle, and the need for a large corps of developers.
Unibright Abstract. Image via Whitepaper
Instead businesses are able to use the visual workflow created by Unibright to create and launch smart contracts on an appropriate blockchain. And it can all be done without any coding skills whatsoever. There's no blockchain skills required, no smart contract development knowledge, not even traditional software development knowledge is needed.
Unibright has even gone to the trouble of including a number of business use cases right within the system. These include cases such as invoicing, shipping process monitoring, asset life cycles, multi-party approvals, and many others.
Users can easily select their use case and then create a custom workflow. This can then be deployed in a way to bridge the information between the new blockchain and existing systems, such as ERP.
Unibright ObjectivesOne of the key roadblocks to the adoption of blockchain technology by enterprises has been the concerns around the usability of existing solutions, and the huge knowledge gap that exists in regards to deploying, developing, and designing blockchain solutions.
Add to this the scarcity of talented blockchain developers and the cost of hiring such talented developers. It's understandable that businesses have been slow to adopt blockchain solutions, even though many business leaders are able to see the potential for blockchain to dramatically improve their operations.
The blockchain solutions being created often have clear advantages for businesses, but traditional businesses have been slow to adopt these new and novel solutions. The uncertainties regarding costs, development, and effectiveness in blockchain integration has kept many on the sidelines.
Unibright Overview. Image via Unibright
And that's why Unibright was developed and where it comes into play.
The Unibright project is attempting to position itself as a unified framework that simplifies all the aspects of blochcain integration for enterprises through its algorithmic design.
Through this framework businesses can take advantage of interoperability, not only between blockchains, but also with legacy systems. Unibright provides a full stack of tools that function to connect information between all systems, increasing the productivity and efficiency of an organization.
One of the beauties of the Unibright platform is it's blockchain agnostic. It tries to use visual cues and more abstract designs to describe integration scenarios for businesses and to make them as cost-efficient and easy to implement as possible. The platform has also attempted to remain flexible in regard to technological advancements in blockchain.
Unibright TechnologyIn the simplest terms the Unibright platform was created as a simple framework that individual businesses can mold to their own specific needs.
It will allow managers to use blockchain solutions in their everyday operations with little risk, while saving costs and increasing productivity and efficiency. Unibright is designed to finally close the gap between blockchain technology and traditional business applications.
The Unibright framework currently contains four distinct tools:
The UB Workflow DesignerThis tool allows anyone, even those with no blockchain experience or knowledge, to define workflows visually, and without any reference to a specific blockchain protocol. The UB Workflow Designer allows its users to choose an existing template and them customize it to their workflow needs.
The Unibright Visual Workflow Designer
This visual designer can even define integrations with other blockchains and IT systems, as well as setting system boundaries. Once the workflow has been created the system automatically generates the needed smart contracts with the necessary business logic.
The UB Contract InterfaceThis is the central part of Unibright's ecosystem. With the UB Contract Interface users are able to make changes to previously designed workflows, transforming them into smart contracts specific to a blockchain. They can then publish the smart contracts, maintain them, or automatically generate templated connection adapters for existing systems.
The Unibright Contract Interface
The templates that are made available to users of the Unibright ecosystem have been designed around predefined business workflows, and are presented at a high level of abstraction. The development team plans on maintaining the templates, enhancing them as needed, and creating new templates to serve new use cases and industries.
The UB ExplorerThe UB Explorer provides a simple interface where users can monitor all ongoing processes. Data is collected from the smart contracts, as well as from any systems that have been connected to the chosen template.
The Unibright Explorer
The Explorer provides Smart Queries that present useful information and are automatically generated based on the specific workflows. This way both on-chain and off-chain data can all be presented together in an easy to read and extremely useful dashboard.
The UB ConnectorThis is how Unibright allows off-chain systems to access and use Unibright smart contracts. It also enables the creation of cross-chain workflows, and cross-system workflows.
The Unibright Connector
It does this through the Smart Adapter, which takes all the technical details needed to connect a blockchain or ERP system and transforms them to allow the connection to happen. Smart Adapters make the Unibright Connector dynamic, and enable a massive variety of integration possibilities.
Unibright TeamUnibright and its team are based in Germany and led by founder and CEO Marten Jung. Marten has also been the CEO of the parent company SPO Consulting for the past two years. SPO Consulting has been in business for over 20 years, with a focus on business integration.
The co-founder and CTO of Unibright is Stefan Schmidt. He also serves as the Head of Software Architecture. The Lead Frontend Engineer for the project is Ingo Sterzinger, who brings over a decade of software development experience to Unibright.
Some Unibright Team Members: Marten Jung, Stefan Schmidt, & Ingo Sterzinger
In addition to these three there are an additional four core positions, with the following titles mentioned: Chief Communications Officer, CMO and Head of Marketing, Lead Engineer Testing, and Lead Engineer Data Modeling.
These positions are all filled with members who have many years of experience in database management, engineering, and computer science. The only potential downside is that none of the team members have any prior blockchain experience. However they all seem accomplished enough to acquire the skills they need to succeed rapidly.
Advisors & PartnersBesides having a very skilled set of team members, Unibright also has a very skilled and knowledgable team of advisors.
This group brings a wealth of blockchain experience and knowledge to the project and includes Youtuber and founder of DataDash Nicolas Merten. In addition there are a number of former PwC auditors, blockchain developers from Ambisafe and Iconiqlab, PhDs, and venture capitalists.
Unibright has also been aggressive in developing partnerships, including SAP, Microsoft, Iconiqlab, and Ambisafe among others. This puts the project in a good position to strengthen their market exposure and positioning.
Some of the Partners Unibright is working with
They’ve also gotten together with Deutsche Bahn to create a tokenized ecosystem for public transportation. And most recently they’ve entered into a strategic partnership with NEM. In addition, the parent company SPO Consulting has business relationships with companies such as Lufthansa, Unilever, and Samsung that can be leveraged in the coming years.
UBT TokenAccessing the Unibright framework requires UBT tokens. Users deposit whatever number of tokens required for their usage. To acquire tokens users must buy them on the open market. Unibright even offers to help if the users need assistance in purchasing through an exchange.
There were some concerns expressed by the Unibright community at this setup, as some felt that large enterprises couldn't be expected to go to an exchange to purchase tokens, but this hasn't been a problem to date and all users have been able to acquire whatever tokens they need from IDEX.
This 30 days of usage is a crucial part of the UBT token model. It was setup so that a users initial deposit must be large enough to cover a minimum of 30 days usage. This allows them to later make use of a “Rebuy contract.”
This is key because it allows customers to repurchase the tokens they used over the 30 day period from Unibright to continue using their blockchain integration. The Rebuy contract determines the rebuy price, with the standard set at $0.14 per UBT.
Features of the Unibright token
This price may seem low to some, but in truth this is how enterprise solutions are often costed. In practice the initial purchase and deposit is likely to be the most expensive part of the process. This makes complete sense since the initial deposit is like the setup cost for the process. Currently the price of one UBT is above the $0.14 level, making the Rebuy contracts very useful from a business standpoint.
Once tokens are deposited to the platform, and this includes rebought tokens, they cannot be withdrawn again. When tokens are deposited and the Rebuy Contract is signed the tokens are locked in a smart contract which lasts for the duration of the contract.
The good news for investors is that every additional Unibright user removes more UBT tokens from the open market. This should help support UBT prices in the future as increased demand will lead to declining supply.
What happens when the contract ends?Once the contract ends the user needs to deposit more tokens which they've purchased on the open market. They sign a new contract and these tokens are then locked into the platform. This means new tokens must be purchased each time a Rebuy Contract expires.
What about the tokens from the expired contracts?These tokens go back to Unibright. Initially the plan was to sell these tokens on the open market to create additional revenue for the project. That plan has been set aside thankfully, and the team has decided not to sell the tokens they receive, ever.
Instead the plan is to use these tokens to onboard non-profit organizations to the platform. These tokens are not being gifted, but will be deposited into the framework to help the charities to benefit from the blockchain integrations that have been made available.
In essence this means that any token deposited into the framework will be forever removed from the open market, and thus the circulating supply of UBT tokens will be forever declining.
UBT Trading & StorageAfter the project held their ICO in May 2018, raising $13.54 million by selling roughly two-thirds of the UBT supply for $0.14 each investors were rewarded with an immediate pump to almost $0.19 each. That didn’t last long though, and by the end of May the price of UBT was slightly below the ICO price. The token continued to decline, nearly reaching $0.01 by October 2018.
Price bounced around slightly after that, rarely topping $0.02 and also not going below $0.01. By the end of 2019 the price of UBT was still stuck stubbornly below $0.02.
As the entire universe of altcoins began climbing in 2020, so too did UBT begin to rally. From just below $0.02 at the start of the year the token price has soared to an all-time high of $0.28922 as of February 18, 2020.
UBT Token Price Performance. Image via CMC
When it comes to exchange coverage, UBT does not appear to have that much support. Hotbit has over 60% of the trading volume which means that it is quite centralised. The liquidity also appears to be quite limited which means that you will experience slippage when trading large block orders.
Because UBT is an ERC-20 token you can use any wallet that’s suitable for storing ERC-20 tokens. Some suggestions would be the Ledger and Trezor hardware wallets, MyEtherWallet, MetaMask, Atomic, and many others.
Development Progress & Roadmap2019 was quite a busy year for the Unibright team. There were a number of technical advancements that they brought to the fore as well as some partnerships. These include the following:
Q1: They brought the UniBright framework to product readiness (earlier than initially). They also joined the European Blockchain FoundationQ2: There was further collaberation with Universities and other academic institutions. On the product front, they released the C02 compensation project for "Carbonara".Q3: They integrated Facebook's Libra technology into the Unibright framework. There was also some work on the tokenization of securities.Q4: Perhaps the most meaningful announcement here was their official partnership with Digital and Anyblock Analytics.While Unibright does not have an updated roadmap on their website, they do have this blog post that was published in April of last year. As you can see, there are a number of goals they would like to achieve by the end of this year and by the end of 2024.
By the end of 2020, they would like to achieve the following:
On-boarding More clients: They also would like to lock 15-25% of UBT inside the platform.Development on Automatic Setup: This would allow clients to set up a Unibright Framework SaaS environment, for locking in tokens and enabling token renewal by smart contractThen, the singular goal that they would like to acheive by 2024 is enable mass adoption as they target to lock up 80% of the UBT inside the platform.
Final ThoughtsBy looking for ways to offer blockchain technology in a simple manner to businesses and enterprises Unibright is taking on one of the most critical areas to the adoption of blockchain technology.
Businesses need this new technology for its productivity enhancements, efficiency, and cost-savings potential, but are hesitant to adopt technology with a steep learning curve. With the Unibright solution there’s no need for a business to have any knowledge or expertise in blockchain, but they can still benefit from the technology.
While the team behind Unibright did not come from a blockchain background themselves, they still seem extremely capable, and that could actually give them an advantage in creating solutions that work for non-blockchain companies. Plus having a parent company with several decades of experience in a similar business must work in Unibright’s favor.
They stand out in their avoidance of hype, which is refreshing in the blockchain ecosystem. In place of the hype they have a clear approach to B2B marketing, which makes them more trustworthy. Their website does an excellent job outlining the business use cases for Unibright, and offers several scenarios where the platform would be used to increase the efficiency of a business.
Unibright To the Sky? Image via UniBright Blog
There are some downsides and risks to the project. Most notable of them is the certainty that competition in this space will grow in the coming years as the need for adding blockchain solutions to more businesses increases. Unibright combats this through the extensive experience of the parent company, and through the growing network of partnerships.
There is also the possibility that businesses will never come around to see the need to add blockchain technology. This possibility is truly beyond the control of Unibright, and they need to continue pushing forward under the assumption that businesses will eventually want to move to blockchain technology.
There has also been some criticism over the addition of a token to this platform, and questions over whether tokenization is needed. The plans for scaling the platform make it clear that a token is a necessary component of the platform.
Overall the team is already well positioned and doing well in growing their partnerships and usage of the platform. Once acceptance and use of blockchain technology increases at the business level Unibright will be in a great position to take advantage of that.
In Brief Three blockchain heavyweights unveiled “Baseline Protocol,” an enterprise solution for companies to communicate and transact privately on the Ethereum public blockchain. The protocol relies on Zero knowledge proofs, or ZKP, to keep information private. Ernst and Young, Microsoft and Ethereum venture studio ConsenSys—big guns in the blockchain consulting business— have joined together to create “Baseline Protocol,” a middleware solution for large companies to communicate and transact privately on the Ethereum public blockchain.
The project was unveiled in a press release earlier today. The protocol is “an open source initiative that combines advances in cryptography, messaging, and blockchain to deliver secure and private business processes at low cost via the public Ethereum Mainnet,” per the statement. “The protocol will enable confidential and complex collaboration between enterprises without leaving any sensitive data on-chain.
The enterprise problem with public blockchainsBlockchain has been tossed around in the past as a way to wrangle enterprise data. But one of the big problems with a public blockchain is that any data stored on the network is public. That’s a thorny issue for large corporations, who don’t want to put their private dealings on widely shared blockchain.
The open-source initiative aims to synchronize “internal systems of record,” including ERP data, CRM and other private business processes via the public Ethereum blockchain.
In essence, Baseline offers a set of tools — including zero-knowledge proofs — that allow business transactions, smart contracts and communications to remain private, so that business users can decide what they want to share and with whom.
Zero knowledge proofs, or ZKP, is a complicated form of cryptography that allows two parties to verify things without sharing or revealing underlying data. And it is really the secret sauce for how all of this works. Baseline uses Ernst & Young’s Nightfall ZKP for Ethereum. It also leverages Whisper for secure p2p messaging between partners.
The Github for the protocol says that it’s meant to enable standard ERC-20 and ERC-721 tokens to be transacted on the Ethereum blockchain with complete privacy. It also states the protocol is “experimental solution and still being actively developed,” which would seem to indicate all this isn’t quite ready for primetime yet.
Paul Brody, principal and global blockchain leader at Ernst & Young, told Decrypt that he would not call the technology experimental. Though it’s new, it’s actively being developed and is actually “quite mature.”
“We expect to unveil products for enterprise usage based on this technology shortly,” he said, adding that he expected to see new Baseline-related products unveiled as soon as next month.
How Baseline Protocol works“Companies use all kinds of sophisticated internal systems to transact internally, but when they communicate with each other, they mostly use email and spreadsheets and EDI [electronic data interchange], which is basically text messaging,” Brody said.
In the case of the Baseline Protocol, Brody said there are two things that go on the blockchain. One is a “notarization”—basically a hash of the document and a timestamp, used to authenticate the document. (Note that you don’t put the actual document on the blockchain.)
The second thing is tokens, which can be created, traded and managed on the blockchain.
The tokens are the key inputs and outputs of business processes. This is one of the main things that that Nightfall ZKP keeps private—the transfer of the actual tokens (assets) between the parties. As Brody explained, Baseline also keeps private via smart contracts, business logic, such as the number and price of items negotiated in a contract or purchase order..
“For complex stuff, we notarize and for stuff that we want to market for decentralized services, we are going to do our best to create a digital token instead,” he said. “Blockchains are much more comfortable and much better designed to support digital tokens.”
Enabling these communications, and the use of tokens on the blockchain, will allow parties to access other tools on the blockchain as well, such as loans via decentralized finance, he said. (MakerDao, incidentally one of the founding members of the project.)
Solving the enterprise problemAs an example, say a large company wants to buy something from a supplier. They send a purchase order for 1,000 widgets worth $1 million via the Ethereum mainnet. The supplier may need working capital. “I can use middleware to send the P.O., but on the blockchain, there are a whole set of decentralized financial services as well. In theory, the digital token that represents my purchase order is something my supplier could as security use to obtain working capital,” Brody said.
He pictures Baseline as a way to enable these complex transactions but under privacy, so other companies can’t see how much you’ve borrowed. He believes it will allow companies to use the blockchain for business transactions much the same way people use the internet.
In a bigger sense, the Ethereum blockchain is no longer used as a settlement layer for recording transactions, but a middle or integration layer that is always available, without downtimes, stays the same, and is accessible for all the partners on your network.
Consensys envisions the technology mitigating all of the “heavy lifting” traditionally involved with connecting different ERP and CRM systems with their internal databases while at the same time, maintaining the integrity of the data.
How Baseline Protocol beganIn mid 2019, Ernst & Young, ConsenSys and Microsoft started a supply-chain project codenamed “Radish34,” that uses public Ethereum to enable real-time volume discount calculation across a series of purchase orders. These efforts led to the creation of the Baseline Protocol.
A company called Unibright, which recently joined the effort, will play a “major role” in developing the protocol.
“Every time a business process changes or state of a business process changes in a private network, the public available Ethereum mainnet is used as middleware to synchronize the states and to build a common frame of reference,” Stefan Schmidt, Unibright’s founder and CTO, explained in a video.
The development for Baseline Protocol is funded by ConsenSys and Ernst & Young. (ConsenSys also funds Decrypt.) Other companies in the Protocol steering committee include AMD, ChainLink, Core Convergence, Duke University, Envision Blockchain, MakerDAO, Neocova, Splunk, Provide, and W3BCLOUD.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
