Web3 Funding Weekly Report (6/24-6/30): 29 Public Fundraising Events, Islamic Coin Raises $200M, DWF Labs Invests Another $18M in Conflux
There were 29 investment and financing events in the global blockchain space during the week of June 24-30.
Over $204 million lost in Q2 DeFi hacks and scams: Report
June 30 (Cointime) - In Q2 of 2023, DeFi protocols were exploited and hacked, resulting in over $208 million in losses, with only $4.5 million recovered. Despite the billions of dollars in daily trading volume, the DeFi ecosystem remains niche and out of reach for some. Maple Finance has launched a direct lending program to fill the void left by bankrupt major lending protocols like BlockFi. Additionally, Optimism network transactions surged 67% following the Bedrock upgrade, and many leading wallet service providers have added support for Bitcoin's BRC-20 token standard.
Soul Rebirth: Will it be a unique GameFi experience?
Soul Reborn is a new type of P2E (Play to Earn) MMORPG (Massively Multiplayer Online Role-Playing Game) that combines the concepts of DeFi (Decentralized Finance) and NFT (Non-Fungible Token), originating from the renowned online game Soul Worker.
Maverick Protocol: Working with The Graph to address the issue of inaccessible positions when deploying part of LP liquidity
June 29 (Cointime) -DeFi infrastructure Maverick Protocol announced that "due to the surge in trading over the past two days, The Graph's subgraph service has experienced significant delays, causing some LPs to be unable to access their liquidity positions in the user interface (UI) after deploying liquidity to the chain. We are currently working with The Graph team to resolve the issue. Once the problem is resolved, we will notify users as soon as possible."
Bank of Italy: Cryptocurrencies and DeFi Have Not Lived Up to Their Promise
June 28 (Cointime) - A new report from the Bank of Italy has found that cryptocurrencies, DeFi, and stablecoins have not fulfilled their promise of shaking up the global financial system for the better. The report highlights the regulatory challenges facing the crypto asset market and warns of the risk to financial stability posed by the blurring between traditional finance and crypto.
Cardano Founder Charles Hoskinson Counters FUD with Facts, Highlights Real Adoption and Decentralization
June 28 (Cointime) - Cardano founder Charles Hoskinson is pushing back against critics spreading fear, uncertainty and doubt (FUD) about the blockchain. Responding to claims that Cardano DeFi has no total value locked (TVL) and institutions are not interested in the protocol, Hoskinson urged the community to look for positive signals and emphasized that Cardano is gaining real adoption and growing in a completely decentralized way.
DeFi Hacks and Scams Result in Over $204 Million in Losses in Q2 2023
June 27 (Cointime) - According to a report from De.Fi, over $204 million was lost in DeFi hacks and scams in Q2 of 2023, with 117 incidents reported during the period.
Digital Asset Networks Need To Be ‘Interoperable,’ Singaporean Regulator Says
June 27 (Cointime) -The Monetary Authority of Singapore released a digital asset framework, focusing on the interoperability of digital asset networks.The project aims to test digital assets and DeFi applications and infrastructure, and has four focuses: interoperable networks, asset tokenization, institutional-grade DeFi protocols, and trust anchors.While digital asset networks are likely to play a fundamental role in the future financial landscape, the MAS said, there is a need to ensure that any proposed network or interoperability features “satisfy the needs of market participants and ensurefinancial integrity and maintain financial stability”.
