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Crypto Morning Briefing: Huobi To Expand in Hong Kong As It Bets on China, Secret Network Votes Unanimously to Turn Foundation Into Non-Profit

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Huobi To Expand in Hong Kong As It Bets on China

Huobi Global, one of the world’s largest cryptocurrency exchanges, plans to expand its operations in Hong Kong, anticipating that Mainland China will soon follow the city’s recent pro-crypto shift, Huobi chief and digital asset tycoon Justin Sun told Bloomberg TV on Friday.

Secret Network Votes Unanimously to Turn Foundation Into Non-Profit

The Secret Network is a layer-1 blockchain focused on privacy-preserving technology. After a tumultuous few months, the Secret Network’s community today passed a proposal to restructure the Secret Foundation, with Secret Foundation’s founder and CEO, Tor Bair, committing his support.

Bit2Me and Mastercard Launch Debit Card With Crypto Cashback

In an announcement on Feb. 10, Bit2Me, the largest Spanish cryptocurrency exchange, revealed its new cashback debit card in partnership with Mastercard.

Stablecoin Issuer Tether's Reserves Partly Managed by Cantor Fitzgerald

Tether has been using Cantor Fitzgerald to manage more than half of the $67 billion in bonds, cash, and loans backing its stablecoin (USDT)

Binance Upgrades Proof of Reserves Verification To Include Zk-SNARKs

On Feb 10, Cryptocurrency exchange Binance announced a major upgrade to its Proof of Reserves Verification system to include zk-SNARKs — a cutting-edge technology that Binance says will allow it to verify its reserves in a more secure and transparent manner.

Coinbase’s Staking Service Faces Questions After Kraken’s SEC Settlement

Though Coinbase’s (COIN) current revenue from staking is relatively small, there is potential for speedy growth if the U.S. Securities and Exchange Commission (SEC) doesn’t crack down on the service altogether.

Crypto Price Action

As of press time, according to Cointime data:

BTC 's live price is $21,699.18 USD, dropped by 1.21% in the last 24 hours;

ETH’s live price is $1,526.18 USD, dropped by 2.89% in the last 24 hours;

BNB’s live price is $307.55 USD, dropped by 0.083% in the last 24 hours;

SOL's live price is $20.72 USD, dropped by 3.57% in the last 24 hours.

Fundraising News

Crypto Exchange C3 Raises $6M to Offer FTX Alternative

Decentralized cryptocurrency exchange C3 raised $6 million in a seed funding round led by Two Sigma ventures, the investment arm of traditional finance quantitative trading firm Two Sigma, according to a press release.

Web3 Tower Defense Game Developer Omega Royale Raises $2.1 Million

The gaming studio behind web3 tower defense game Omega Royale raised $2.1 million in funds for its play-to-mint project.

Web3 Gaming Platform Ajuna Raises $5M in New Private Financing

Decentralized gaming platform Ajuna Network has raised $5 million in a new private funding round led by blockchain-focused venture capital firm CMCC Global. The announcement coincided with the Friday launch of the startup’s "Awesome Ajuna Avatars" non-fungible token (NFT) game collection, which is inspired by the company's flagship game, BattleMogs.

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