CyberConnect Integrates Bitget Wallet Browser Extension
Web3 social network CyberConnect has announced a partnership with Bitget Wallet (formerly known as BitKeep), and integrated the Bitget Wallet browser extension into its official website as well as its flagship DApp Link3. By connecting to the Bitget Wallet browser extension, CyberConnect users can seamlessly switch between Ethereum, BNB Chain and Polygon chains to participate in the CyberConnect ecosystem, mint Cyber Accounts, and manage their decentralized identities. Bitget Wallet’s mobile DApp browser also provides users with direct access to CyberConnect.
Beosin: The Losses Caused by Security Incidents in the Web3 Field in Q3 Were Approximately US$890 Million, Exceeding the Total Losses in the First Half of the Year
Beosin, a blockchain security company, has released the 2023 Q3 Global Web3 Security Report. The report states that the Web3 sector suffered a total loss of $889.26 million in Q3 due to hacker attacks, phishing scams, and Rug Pull incidents. This loss exceeds the total loss in the first half of 2023 (approximately $330 million and $333 million in Q1 and Q2 losses, respectively).
The Shanghai Municipal Science and Technology Commission Issued the “Shanghai Blockchain Key Technology Research Special Action Plan (2023–2025)”
The Shanghai Science and Technology Commission has issued a notice on the release of the "Shanghai Blockchain Key Technology Research and Development Special Action Plan (2023-2025)". The document states that by 2025, breakthroughs in the basic theories of blockchain system security, cryptographic algorithms, and other technical fields such as blockchain-specific processors, smart contracts, cross-chain, new storage, privacy computing, and regulation will be accelerated to form a new generation of open, licensed blockchain technology system and standard specifications that can support the development of innovative Web3.0 applications, are manageable and controllable, and open source. This will lay the foundation for building a trusted and secure technology base for the digital economy and cultivating a new generation of globally influential blockchain innovation ecology.
Acting Financial Secretary of Hong Kong: There are more than 800 financial technology companies in Hong Kong and they will promote projects such as central bank digital currency
Hong Kong's Acting Financial Secretary, Paul Chan Mo-po, said at the Hong Kong Bankers' Summit that there are now over 800 fintech companies in Hong Kong, up from about 180 five years ago. The Hong Kong government will continue to cultivate a large number of talents to support the development of fintech and green finance, and will also promote projects such as central bank digital currencies. <br>
Label Foundation partners with LG Electronics to launch Web3 music streaming platform Tracks
According to Bitcoinist, the Korean blockchain music organization Label Foundation has announced a partnership with global electronics giant LG Electronics to launch an innovative Web3 music streaming platform called "Tracks". The platform will soon be available on the latest version of LG smart TVs.
Binance Japan and Mitsubishi UFJ Trust and Banking Corporation collaborate on developing stablecoins for Web3 adoption in Japan
Binance's Japan unit is collaborating with Mitsubishi UFJ Trust and Banking Corporation (MUTB) to develop stablecoins that comply with local laws. The joint study aims to issue stablecoins pegged to sovereign currencies like the yen to drive Web3 adoption in Japan. The companies hope to start relevant operations by the end of next year, subject to regulatory approvals. MUTB's Progmat platform could help mitigate risks associated with stablecoins, and Binance Japan intends to use it to issue stablecoins on multiple blockchains.
Tencent Participates in the Multilateral Central Bank Digital Currency Bridge Project to Explore Cross-Border Pilot Applications
Tencent, as one of the first operating institutions for China's digital currency, is actively participating in the Project mBridge, a multi-central bank digital currency bridge project under the guidance of the People's Bank of China Digital Currency Research Institute. Tencent will explore pilot application projects in both outbound and inbound directions through the multi-central bank digital currency bridge to improve cross-border payment services.
MAP Protocol Core Developer: Web3 Startup Project Valuation Should Be Less Than $3 Million
According to a post by James XYC, the core developer of MAP Protocol, the valuation of Web3 seed round projects should not exceed $3 million. The lack of new funds in the industry has led to overvalued projects. Founders should not apply traditional VC valuation standards to Web3 projects, as Web3 valuations are still too high.
China Pacific Investment Management (Hong Kong) Co., Ltd. Was Approved to Upgrade Its Hong Kong Securities and Futures Commission License
China Pacific Insurance Group's China Taiping Investment Management (Hong Kong) Limited ("Taiping Asset Management Hong Kong") announced that its existing Type 1 (securities trading) and Type 4 (advising on securities) regulated activities have been approved for upgrade by the Hong Kong Securities and Futures Commission. From now on, Taiping Asset Management Hong Kong can provide distribution and investment advisory services to funds with virtual asset investment ratios exceeding 10%.
Pudgy Penguins Boost Engagements Across Malaysia and Beyond
Pudgy Penguins has established itself in Malaysia after a three-day event in Kuala Lumpur showcasing its transition from virtual to physical toys. The event highlighted how the brand's blockchain innovation can benefit Malaysian businesses in the retail sector, with support from the Malaysian government and the Malaysian Digital Economy Corporation.
