zkPass completes $12.5 million Series A funding round at $100 million token valuation.
Author: TechFlow
Yesterday's market dynamics
Pyth Network: 768,000 PYTH staking rewards have been distributed to stakers
According to official news, Pyth Network announced that it has distributed 768,000 PYTH staking rewards to stakers to support the protection of DeFi through Oracle Integrity Staking.
Animoca Brands will purchase more WATCoin from the open market
Animoca Brands disclosed that it intends to acquire more WATCoin from the open market. WATCoin is the utility token of WatBird, a Telegram Mini App developed by Animoca Brands subsidiary GAMEE. Animoca Brands said that by purchasing the tokens, Animoca Brands strengthens its commitment to WatBird's role in supporting the broader TON ecosystem.
ApeCoin DAO has passed the proposal to disband four working groups including Web3 development and Metaverse
The Snapshot page shows that ApeCoin DAO passed the proposal to "disband four non-essential working groups" with a high support rate of 98.02% on October 17, including governance, market and communication, metaverse, and Web3 development.
The proposal points out that the four working groups cost the DAO nearly $3 million per year, but their tasks are performed inefficiently. At the same time, the ApeCoin Foundation's funds are rapidly decreasing. In order to alleviate financial pressure, the proposal suggests outsourcing related functions to a third-party team.
Worldcoin rebrands to World Network and announces that World Chain has launched mainnet
Worldcoin, a digital identity project supported by OpenAI CEO Sam Altman, announced that it would be renamed World Network (World for short) and officially launched its Ethereum Layer 2 blockchain mainnet World Chain.
World Network said that as the project scales up and the World ID human proof protocol becomes more important, "Worldcoin" can no longer fully summarize the project's mission. The new brand World consists of three core pillars: World Chain, World ID and Worldcoin tokens, aiming to build a network of real, verified humans to promote the advancement of artificial intelligence.
zkPass Completes $12.5M Series A at $100M Token Valuation
According to TheBlock, zkPass completed a $12.5 million Series A financing with a token valuation of $100 million. Investors in this round of financing include dao5, Animoca Brands, Flow Traders, Amber Group, IOBC Capital, Signum Capital, MH Ventures and WAGMI Ventures. Co-founder and CTO Bing Jiang said that there was no lead investor in this round of financing because zkPass's goal is to allow all investors to participate. If only one lead investor holds a large share, then they may get more returns.
It is reported that zkPass is a data verification protocol based on zero-knowledge proof that allows users to prove information without sharing actual data (such as identity or financial records).
Coinbase International will launch Turbo perpetual futures contracts
Coinbase International Station announced on the X platform that Coinbase International Station and Coinbase Advanced will add support for Turbo perpetual futures contracts. The TURBO-PERP market is expected to open at or after 17:30 on October 24, 2024, Beijing time.
ZKsync’s new proposal proposes the Ignite plan to distribute 300 million ZK tokens to DeFi users within 9 months
ZKsync has released its first governance proposal, called ZKsync Ignite, which plans to transform ZKsync Era into the liquidity center of Elastic Chain through this project. To this end, 300 million ZK tokens will be distributed to DeFi users in the next 9 months. The proposal has been announced on the ZK Nation forum and aims to promote the further development and expansion of the ZKsync ecosystem.
Upbit will list Injective(INJ) in KRW and USDT markets
According to the official announcement, South Korean cryptocurrency exchange Upbit will launch Injective (INJ) in the KRW and USDT markets, and trading support will start at 18:15 local time on October 17.
Kraken Launches New Wrapped Bitcoin Product KBTC
Cryptocurrency exchange Kraken has officially launched a new wrapped Bitcoin product called KBTC. KBTC is an ERC20 token fully backed 1:1 by Bitcoin in Kraken custody, designed to expand Bitcoin’s adoption in the decentralized finance (DeFi) ecosystem.
KBTC allows Bitcoin to interact with decentralized applications (dApps) on Ethereum and OP mainnet. Users can independently verify KBTC's Bitcoin support through on-chain reserves to ensure transparency. Kraken said the launch of KBTC will enable Bitcoin to participate in the rapidly growing DeFi field, providing new opportunities for users to use Bitcoin in financial activities such as lending.
New filings show Trump family will receive 75% of WLFI's net income and bear no liability
According to CNBC, the Trump family's crypto project World Liberty Financial (WLF) released a 13-page "World Liberty Gold Paper" document, which details the project's mission and token distribution plan. The document shows that the Trump family will receive 75% of the project's net proceeds without any responsibility.
According to the filing, DT Marks DEFI LLC, a Delaware company associated with Trump, will receive 75% of the net agreement revenue. The Trump family will receive 22.5 billion $WLFI tokens, which are worth about $337.5 million based on the offering price of 1.5 cents this week.
Market dynamics
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