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Crypto Evening Briefing: Mastercard and Visa Set Crypto Plans on Hold Amid Market Decline

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Mastercard and Visa Set Crypto Plans on Hold Amid Market Decline: Reuters

Mastercard and Visa are holding off on their crypto integration plans in the wake of several turbulent events that have rocked the cryptocurrency space in the last year, according to Reuters.

Huobi To Join BitTorrent Chain’s L2 Ecosystem

Huobi, a virtual asset trading platform, announced to join the BTTC (BitTorrent Chain) ecosystem and to support the development of a layer 2 network based on BTTC. The goal is to promote an on-chain open financial system.

Huawei Forms Web3 Alliance With Polygon, Morpheus Labs, Others

Huawei Cloud, the cloud computing arm of Chinese smartphone maker Huawei Technologies Co., Ltd., announced a partnership with Polygon and other blockchain firms last Thursday to form a Web3 and metaverse alliance.

UAE Emirate To Launch Free Zone for Digital and Virtual Asset Firms

Ras Al Khaimah, one of the seven emirates that make up the UAE, is set to launch a free zone for digital and virtual asset companies as the country’s approach to the industry continues to attract global crypto players.

Binance Denies Improper Use of $1.8B of Users’ Funds

Binance, the world’s largest cryptocurrency exchange, denied a report published by Forbes titled “Binance’s Asset Shuffling Eerily Similar To Maneuvers By FTX,” which argues that the crypto giant transferred $1.8 billion associated with its users’ funds.

Market Watch

As of press time, according to Cointime data:

BTC 's live price is $23,409.35 USD, dropped by 1.25% in the last 24 hours;

ETH’s live price is $1,632.99 USD, dropped by 1.58% in the last 24 hours;

BNB’s live price is $303.20 USD, dropped by 1.18% in the last 24 hours;

XRP's live price is $0.3777 USD, jumped by 0.01% in the last 24 hours.

Fundraising News

Term Labs Raises $2.5M to Build Out Fixed-Rate Product for DeFi

Term Labs has turned heads with its fixed-rate offering, landing $2.5 million to bring the product to market. Led by Electric Capital, the latest round was also joined by Circle Ventures, MEXC Ventures, Coinbase Ventures, and angel investment from a host of DeFi founders. The fresh funds will be used to build out the team’s Term Finance protocol.

OWND Raises US $ 7,50,000 To Launch Its Fashion Platform

Copenhagen start-up OWND has secured US $ 7,50,000 in pre-seed funding to launch its fashion NFT platform, which aims to offer customers exclusive benefits such as physical items, in-person meet-ups and more.

Non-Custodial Liquid Staking Platform Ether.Fi Closes $5.3M Fundraise

Ether.Fi, a decentralized and non-custodial liquid staking platform, said it closed a $5.3 million fundraising round. The round was co-led by North Island Ventures, Chapter One and Node Capital and included participation from BitMex founder Arthur Hayes.

Mangrove Raises $7.4 Million Series A To Enable Market Makers To Operate Without Locked Capital

Mangrove raised a $7.4 million Series A round to build out its order book-based decentralized exchange with its "offer-is-code” approach to liquidity provisioning.

Get the latest news here: Cointime channel — https://t.me/cointime_en

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