Script Network, Astaria, and Increment Seed Rounds, UK Not Monitoring Unhosted Wallets
Earlier today, the Script network announced that Gate.io Labs joined their seed round through their medium page.
Gate.io Joins Script Network Seed Round
The Script network tweet reads,
“We’re pleased to announce @gate_io has joined our seed round. @gate_io are one of the most significant companies in the crypto / blockchain space and we are delighted to work with them over the coming months and years.”
Script.tv is a watch-to-earn network broadcasting tv and films while rewarding its users. It has over 30 available television channels.
On the other end, Gate.io is one of the largest crypto exchange networks in the world, with massive followership. News today indicated that Gate.io would be joining Script. tv’s funding round.
The release by Script.tv mentioned that Gate.io’s support will help “add a significant experience, scale, and resource to Script Network.”
According to the press release,
“The funds raised during our seed round will help solidify our existing product development, ensuring we can do more strenuous testing on the ecosystem models, alongside the required marketing efforts bolstered upon build-up and after, our tokens being launched.”
The investment collected by Script.tv would help the network expand its features and offer more decentralized solutions and top user experience. Script.tv also mentioned that they would roll out plans of AMAs, promotions, and giveaways on their token, which should be launching sometime this year.
Astaria $8 Million Seed Round
Earlier today, Astaria announced the successful completion of their funding round, raising about $ million in the process. A tweet reads,
“We’re pleased to announce that we’ve raised an $8M seed round to build out Astaria… Astaria’s mission is to build a highly functional on-chain lending protocol, with instant highly liquid NFT lending.”
According to reports, many platforms, including Arrington Capital, True Ventures, Ethereal Ventures, Genesis Trading, Wintermute, Hypersphere Ventures, LedgerPrime, The LAO, and many others, participated in this seed round. Joseph Delong, popularly known for his role in Sushiswap creation, is the platform CTO and co-founder.
According to reports, this new platform aids users in collateralizing their NFT and earning instant liquidity. The network’s co-founder and CEO, Justin Bram, noted that the Astaria network is very bullish on NFTs. They hope to expand beyond art-based and profile picture NFTs in the next five years.
Increment Announces $1.56 Million Funding Round
Increment Finance, a decentralized exchange rate perpetual, announced earlier today a successful funding round that raised $1.56 million. This funding round was “led by @paraficapital and with significant contributions from @Delphi_Digital, @Dialectic_CH, @AngelDAOorg, @ledger_prime, @SkyVisionCap to bring multi-currency perpetual swaps to @zksync 2.0.”
According to their Twitter thread, other angel investors in this funding round included @n2ckchong, @FrancescoRenziA, @cole0x, @Mariandipietra, @josephyoung, @nad8802, @fomosaurus.
UK Will Not Monitor Unhosted Digital Wallets
The UK regulators recently announced that they wouldn’t be monitoring unhosted digital wallets as earlier suggested. This dismissal of this policy comes just a few months after the European Union approved the proposal to collect information about crypto recipients who use unhosted wallet addresses.
A document published by the UK treasury noted that “Instead of requiring the collection of beneficiary and originator information for all unhosted wallet transfers, crypto asset businesses will only be expected to collect this information for transactions identified as posing an elevated risk of illicit finance.”
The policy would have dire implications for the privacy of the crypto space. The Binance CEO at the time mentioned that the policy is “anti-innovation, anti-privacy, and anti-law enforcement.” The decision to scrap the policy in the UK will be suitable for UK crypto investors.
Crypto Market Bears Hit Hard Last Weekend
The crypto market was hit hard by bears over the weekend, losing billions. During the weekend, the crypto market cap dropped to less than $792 billion, the lowest since January 2021.
Over the weekend, most of the crypto assets were in a bearish trend, with the likes of BTC and ETH breaking down below their long-term support levels. For instance, BTC dropped its value to $17.7k, while ETH dropped to just about $896.
However, today, the crypto market appears to have taken a positive turn, with most assets trading slightly higher than their weekend prices.
