Merrill Lynch Bans Clients From Bitcoin Investment Trust 151

One of the Bank of America’s wealth management divisions, Merrill Lynch, has forbidden clients to invest in Barry Silbert’s Bitcoin Investment Trust. The news comes via a memo from the financial advisory firm last December which was seen by Reuters.

The note was sent to around 17,000 brokers at both Merrill Lynch and their subdivision of independent trade managers, Merrill Edge. According to the memo dated December 8, 2017, the wealth management firm will no longer approve new orders for Silbert’s trust. This was due to uncertainty over the “suitability and eligibility standards” of the Bitcoin fund.

The Bitcoin Investment Trust was founded in 2013 by the serial-digital currency entrepreneur Barry Silbert. It’s managed by Grayscale, a subsidiary of the Digital Currency Group, who also own CoinDesk. Silbert himself has also been heavily involved with the financing of several other digital currency ventures in recent years. These include Ripple and Coinbase, and BitPay.

In response to the memo reported by Reuters, Silbert said via email:

 “We look forward to speaking with Merrill Lynch and addressing any questions or concerns they have about the Bitcoin Investment Trust… We are unaware of any similar policies at other brokerage firms.”

Prior to the December ban, those trading through Merrill Lynch and Merrill Edge could buy stakes in the Bitcoin Investment Trust. However, such privileges have been revoked for all but their clients with historic positions with the trust. Those who have fee-based advisory accounts have been forced to sell their holdings.

The attitude of Merrill Lynch towards Bitcoin financial products should hardly come as a surprise. The Bank of America also refuse to offer their clients exposure to either the CBOE or CME Group futures markets that were launched late last year. Such policies represent a growing division within traditional financial institutions over how to treat Bitcoin. These differing stances between large banking and brokerage firms are likely to continue as further trading options become available in the future.

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Open Campus ushers in new era of learning by empowering lifelong learners with control over their educational identity and data 4987

Open Campus, the pioneering community-led Web3 education protocol dedicated to transforming the education sector, announced today a significant milestone: more than 100,000 learners worldwide have now claimed their Open Campus ID. Launched on 23 January 2024, Open Campus ID is a decentralized identifier that empowers learners by providing full control over their educational identities, reputations, and data. The Open Campus ID system facilitates the creation of unique online profiles, along with the issuance of on-chain educational badges and credentials, setting a new standard for digital learning and identity management.

Yat Siu, the co-founder of Animoca Brands and a member of the EDU Foundation Council, said: “The core mission of Open Campus is to empower the next generation of lifelong learners. With Open Campus ID, educational credentials will be verifiable and immutable on blockchain, affirming individual skills and experiences to employers and institutions. Learners will have full control over their academic achievements, driving forward a new era for decentralized education.”

Open Campus ID is secured by Terminal 3’s trusted data platform and cryptographic applications. During user onboarding, personally identifiable information is encrypted and decentrally stored across a network of independent nodes. Institutions then gain use-access to data with a learner’s permission, but only in a privacy-preserving environment where data is never exposed, copied, or transferred. This high level of security is achieved through structured encryption and zero-knowledge cryptography, allowing enterprises to verify personal information without ever seeing the underlying data.

“Personal user data, including one’s learning history, achievements, and credentials, should be self-sovereign,” said Gary Liu, Co-founder and CEO of Terminal 3. “Open Campus ID will allow educational credentials to be freely composable while remaining fully private, creating more trust and security in the talent market.”

Holding an Open Campus ID will grant learners with a unique .edu identifier, allowing individuals to store their user profile and educational data in a self-sovereign and decentralized vault. Users can control and manage their academic certifications, skills, and achievements, prove their identity in a privacy-preserving manner with verifiable credentials, and unlock access to all Open Campus educational content.

Learners can claim an Open Campus ID now and access their Student Dashboard here: https://id.opencampus.xyz/.

About Open Campus

Open Campus is a community-led protocol for educators, content creators, parents, and students. It puts decisions about learning back into the hands of educators and their students by fostering a collaborative environment, enabling teachers to create materials that appeal to the exact needs of students. Additionally, Open Campus recognizes the achievements of teachers and content creators who help students seek new knowledge, opening new revenue streams for effective educators around the world.

About Terminal 3

Terminal 3 is a Hong Kong-based Web3 startup building user data infrastructure for a decentralized future. The company’s solutions are an alternative to centralized data storage that deprives users of privacy and saddles enterprises with compliance and security concerns. Terminal 3 leverages decentralized storage and zero-knowledge proofs to empower an equitable Web3 where user data is freely composable while remaining fully private and secure. The company’s founders are successful corporate executives and entrepreneurs, who have built, scaled, and transformed some of the world’s most important companies. Terminal 3 is also backed by world-class investors including 500 Global, CMCC Global, Consensys Mesh, Bixin Ventures, BlackPine, DWeb3, Hard Yaka, and Bored Room Ventures.

Banking Consortium R3 Leads $9M Round in Encrypted Layer 2 on Ethereum 5815

TEN, an encrypted Ethereum Layer 2 network, announces a funding round of $9 million USD, led by digital powerhouse R3. Obscuro Labs’ TEN is an Ethereum Layer 2 roll-up platform addressing critical encryption and scaling issues in blockchain applications. R3, a consortium of 42 of the world’s largest banks exploring blockchain-based RWA tokenization and CBDC, has been a major supporter of TEN from its inception.

Over half of TEN’s senior team hails from R3, which developed the leading tokenization platform Corda, bringing significant experience to the table. In addition to R3, the funding round includes support from notable investors such as Republic Crypto, KuCoin Labs, Big Brain Capital, DWF Labs, and Magnus Capital.

TEN strikes a balance between Optimistic-based L2s and ZK-Rollups, offering speed, security, versatility and privacy not currently available in existing Layer 2 solutions. The platform, currently in testnet, is set to release on the mainnet in October, boasting features like programmable encryption, immediate bridges, and secure random number generation.

TEN distinguishes itself as a general-purpose L2 on Ethereum, aiming to provide efficiency akin to Optimistic-based L2s while maintaining full encryption. The platform addresses encryption, MEV prevention, scalability, and gas efficiency, positioning itself as a unique addition to the Web3 landscape.

In order to maximize safety for its users, the platform takes advantage of the proven security that Ethereum offers, while focusing on adding value with a number of key features like encryption. TEN allows developers to choose which parts of the smart contract they want private and which parts public. This massively opens up the design space, allowing a whole new generation of on-chain games, DeFi, RWA, and institutional use cases to be developed. All this is done while vastly improving scalability.

As an L2, the speed and cost are both very efficient, providing near-immediate finality and making TEN the fastest encrypted network in Web3. The responsiveness is so fast that it behaves like a Web2 application. The platform was designed such that development teams can build their dApps using just Solidity and Ethereum-based tools. Building on TEN is identical to building on Ethereum. For users, adding TEN’s secure functionality takes just three clicks, and users don’t even know they’re using an encrypted dApp. The experience is entirely seamless.

Gavin Thomas, Co-Founder and CEO of Obscuro Labs, Comments: “Layer 2s were always not just about scaling, but enhancing Ethereum with new features in ways that cannot be done on Mainnet. With TEN, we deliver on that promise by bringing everything we learnt from building encryption on Corda to Ethereum.”

TEN, with over 120 partners, leverages the team’s expertise to address key issues in the Ethereum ecosystem. The platform’s name, “TEN,” symbolizes its role as “The Encrypted Network” and its position as a Layer 2 network.

With ongoing testing on Coinlist’s testnet and plans for a mainnet launch in October, TEN is poised to establish itself as a leading Layer 2 in Web3. The platform’s focus on encryption, privacy, and efficiency sets the stage for its role in shaping the future of decentralized technologies.

About TEN

TEN is a pure EVM encrypted L2 solution for Ethereum, positioned between Optimistic and ZK rollups. With a strong team and backing from R3, TEN aims to offer secure, efficient, and decentralized solutions for Web3 applications.

Ankr Bolsters Web3 with Expansion of DePIN Network and Introduction of New Partners 6077

In a landmark move for the blockchain industry, Ankr, a pioneer in the development of Decentralized Physical Infrastructure Networks (DePIN), is thrilled to announce an ambitious expansion of its network through strategic partnerships with leading Ultra Sound Infrastructure providers. This expansion is set to redefine the standards of a decentralized Web3, reinforcing Ankr’s position at the forefront of leveraging idle cloud computing resources to support blockchain ecosystems.

Since its inception in 2017, Ankr has distinguished itself as the first DePIN in the blockchain space, utilizing its innovative approach to democratize the internet and pave the way for a more resilient and efficient Web3 infrastructure. Today, Ankr’s commitment to enhancing performance and decentralization through its network brings forth a suite of benefits, including increased node availability, access to high-performance archive nodes, and extended geographic coverage to address gaps in node resources.

“As pioneers in the DePIN landscape, we’re excited to expand the availability of high-performance decentralized nodes through our Ultra Sound Infrastructure network. Looking ahead, we will continue to develop a cohesive DePIN experience for all network participants,” said Stanley Wu, Co-founder and CTO of Ankr.

The addition of seven new providers, including IoTex, Gateway, Storj, Clover, Tencent Cloud, Mind Heart Soul, and Ankr Labs, marks a significant leap forward in the decentralization of Ankr’s network. This expansion not only strengthens the infrastructure but also broadens support for on-chain AI and a variety of other innovative use cases, demonstrating Ankr’s dedication to meeting the evolving needs of the blockchain community.

“At IoTeX, our mission is to build a modular ecosystem where projects can easily develop DePIN initiatives. This partnership with ANKR will open up a new set of tools for DePIN builders. By enabling both IoTeX and ANKR’s infrastructure to be readily available for any project, we are positive that many new DePIN projects will come to the surface given the easiness and efficiency that these partnership tools bring to the table.” said Qevan Quo, CTO of IoTex.

Ankr’s DePIN is instrumental in serving the vast and growing needs of the Web3 ecosystem, facilitating seamless interactions between decentralized applications (dApps), developers, and enterprises across various blockchains. Through its robust network of nodes, Ankr ensures reliable performance for transactions, wallet balance queries, and smart contract executions via RPC (Remote Procedure Call) requests, with enhanced core RPC services thanks to partnerships with major cloud providers like Tencent Cloud.

This expansion guarantees amplified performance for Ankr’s RPC service customers, offering:

  • Increased accessibility of nodes to serve RPC traffic
  • Utilization of high-performance archive nodes
  • Filling geographic gaps in node resources for broader coverage
  • Unmatched speed, reliability, and efficiency across the network

Moreover, Ankr’s infrastructure plays a pivotal role in supporting on-chain AI by providing high-performance computing, data availability and integrity, and ensuring decentralization and privacy. This facilitates AI applications in predictive analytics, automated decision-making, and natural language processing directly on the blockchain. Beyond AI, Ankr’s global node infrastructure supports a wide range of use cases, from Decentralized Finance (DeFi) and Non-Fungible Tokens (NFTs) to gaming, metaverse experiences, and Decentralized Autonomous Organizations (DAOs).

The ANKR token, integral to the Ultra Sound Infrastructure program, sees expanded utility as the exclusive payment method for accessing the highest tier of infrastructure, including archive nodes. This enhancement solidifies the ANKR token’s critical role in Web3 operations, acting as a “gas” payment for multi-chain infrastructure and providing a gateway to the highest-quality Web3 infrastructure.

With these strategic partnerships, Ankr embarks on the next phase of its global infrastructure expansion, aiming to further decentralize the web and make high-quality, distributed network resources universally accessible. This initiative not only extends Ankr’s reach but also calls upon stakeholders across the web3 space to contribute to building a decentralized, secure, and efficient digital future.

Ankr is committed to continuous growth and laying the groundwork for the sustainable development of a decentralized internet. With the introduction of new DePIN partners, Ankr looks forward to expanding its high-quality distributed network and invites those interested in joining this revolutionary journey.

About Ankr

Ankr is an all-in-one Web3 developer hub that provides a full suite of tools to build Web3 apps and power them with high-performance connections to 46+ blockchains, leveraging idle cloud computing resources globally. As the approved infrastructure partner for building dedicated L2 rollups and sidechains on ecosystems like Optimism, zkSync, BNB Smart Chain, Polygon, and Avalanche, Ankr simplifies blockchain development for all use cases. Ankr creates new blockchains for projects while satisfying every requirement for infrastructure and engineering, such as validators, RPC nodes, block explorers, testnets, staking platforms, and more, for completely custom blockchain solutions.

B² Network Buzz deposit ends with $663M, initiating a new era in Bitcoin DeFi 6342

The BTC ecosystem is the catalyst for this bull market. Within this ecosystem, a rising star, B² Network, has captured the attention of the entire crypto world with the TVL of B² Buzz exceeding $663 million.

B² Network, as a leading Bitcoin Layer 2 and invested by prominent investors including HashKey Capital, OKX Ventures, IDG, KuCoin Ventures, ABCDE, Waterdrip Capital, Satoshi Lab, OGs Fund, Antalpha, and Leland Ventures, has proposed a revolutionary method to verify ZK Rollup commitments on Bitcoin when building a Bitcoin Rollup, making sure B² Rollup keeps the same security level as Bitcoin. It is also positioned as a Bitcoin Layer2 service provider by working with Polygon and Altlayer to expand this validation method to all Bitcoin Layer 2s.

I. B² Network technical architecture

Two essential parts make up the technological architecture of the B² Network: the Rollup layer and the Data Availability layer. Collaborating to ensure network stability, these structures form the backbone of the B² Network.

The Rollup layer, powered by ZK-Rollup technology, acts as the execution hub. Components such as the account abstraction module, RPC services, memory pool, sequencer, zkEVM, aggregator, synchronizer, and prover create a central processing hub for user transactions.

The Data Availability layer, which includes B² Hub, the Bitcoin network, and decentralized storage, acts as the primary hub for verification and storage. It ensures great security and dependability by storing, confirming, and validating the availability, integrity, and validity of Rollup data.

II. How does the B² Network verify rollup commitment on Bitcoin

The aforementioned is a general explanation of B² Network’s basic architecture, while the most innovative part is how B² Network verifies its Rollup Commitment on Bitcoin.

B² Network guarantees high-level security for Layer2 in four steps below, with Bitcoin as the settlement layer.

  • Conversion from zero-knowledge proof verification procedures to Bitcoin scripts;
  • Utilization of Circuit Taproot as the B² Rollup commitment;
  • Verify and respond to protocols, using UTXO transactions that issue lock rewards as unlocking scripts, and leveraging Taproot scripts for unlocking;
  • Introducing a challenge mechanism.

By adhering to these guidelines, B² Network submits Rollup Commitments on Bitcoin, ensuring data security and availability, thus maximizing security inheritance from Bitcoin amidst Bitcoin Layer 2 solutions.

III. Polygon CDK + B² Hub, B² Network accelerates the development of BTC ecosystem through modularization

B² Network addresses the security issues that other Bitcoin Rollups have encountered. Therefore, B² Network partnered with Polygon and AltLayer to convert this validation technique into B² Hub, a general solution for all Bitcoin Rollups.

This solution leverages the strengths of Bitcoin and Ethereum Layer2s, facilitating the streamlined creation of a Bitcoin Layer2 with equivalent security. This approach enables a concentrated focus on developing the application layer and ecosystem, reducing redundancy in security verification.

By compiling batches and proof data into script, submitting zk proof verification commitments in Taproot form, B² Hub enables any Bitcoin Layer 2 to use verification services from B² Network collaboratively, saving time and reducing costs.

All BTC Layer2 solutions based on “Polygon CDK + B² Hub” will be bridged seamlessly. B² Hub is the central hub in the diverse BTC Layer2 market, accelerating the development of the whole Bitcoin ecosystem.

As of March 12th, the B² Network Buzz event has accumulated a Total Value Deposited of $663 million. The B² Network Alpha testnet has seen 109,000 transactions, while the Beta testnet transactions have reached 7.731 million. There are 1.63 million active addresses, and over 1000 contracts have been deployed. This data robustly validates that B² Network is the most practical Bitcoin Layer 2 solution.

B² Network plans to launch its mainnet this month. In February, B² Network released its ecosystem map, comprising over 50 projects spanning nearly 20 verticals. Their partners include well-known projects, such as Polygon, Babylon, Altlayer, Particle Network, Stakestone, and many others, many of which have emerged as prominent newcomers in the current bullish market.

With the rapid growth of the BTC ecosystem, B² Network will provide a more practical technical architecture design, empowering the thriving development of assets, DeFi, NFTs, SocialFi, and other DApps within the BTC ecosystem.

UniDex successfully migrates to its new protocol token Molten 6456

UniDex has migrated to its new protocol token, Molten, as proposed in its recent governance vote. Molten now serves as the primary governance token for the product ecosystem and the native gas token on the Molten network.

UniDex recently introduced its Omnichain OFT Molten token as the first stage of its governance proposal. The new Molten token is designed to gradually replace the existing UniDex token. It offers a 1:1 migration with no set time limit to migrate the older UNIDX token.

The new token symbolizes the initial step towards the novel ecosystem to be developed around the Molten token for its forthcoming L2, known as the Molten Network. This token will function as the native gas token on the network, ensuring that all transaction fees are paid in Molten.

Molten aims to address the scalability issues previously encountered by UniDex, in addition to its native use for gas. The new Molten token enables bi-monthly epochs, during which Molten holders determine the quantity of new Molten entering circulation.

This inflation could incentivize usage across the Molten ecosystem, offering rewards for trading, liquidity incentives, grants, and more. Transaction fees collected from protocol usage will burn the Molten, offsetting inflation in a manner similar to Ethereum following its EIP-1559 upgrade.

Molten is much more than just a token; it powers the ecosystem behind the Molten network. The Molten L2 aims to build an ecosystem of interconnected Perp DEXs. Molten has eliminated all forms of oracle MEV, allowing builders to safely deploy leverage protocols without needing to run centralized backends. This means faster trades, more decentralized protocols, and better UX for traders.

MetaCene Announces $10 Million Private A Round Funding, Securing Its Place as a Web3 Gaming Pioneer 6516

MetaCene, the leading meta-MMO platform for all gamers, is redefining the boundaries of digital ownership and creativity. Today, it proudly announces the closure of its $10 million Private A round funding. The successful round brings together a star-studded lineup of investors, fueling MetaCene’s mission to create a borderless on-chain homeland, which unites MMORPG players, content creators, and Web3 enthusiasts through “co-entertainment, co-creation, and co-governance”.

The round was led by renowned blockchain investment firms Folius Ventures and SevenX Ventures, with participation from other industry heavyweights including The Spartan Group, Mantle Network, Animoca Ventures, Longling Capital, Comma3 Ventures, IGG and more. This diverse group of investors exemplifies the immense potential of MetaCene’s vision and their confidence in the team’s ability to execute.

“Investing in MetaCene isn’t just about backing a great project; it’s about investing in the future of blockchain gaming. We believe their approach to empowering players to own digital identities and assets, claim their part of the gaming world, and infinitely create and extend this open world has great potential to create a truly revolutionary and timeproof gaming experience. This investment reflects our commitment to supporting projects that are shaping the future of the industry,” said [Jason, Founder of Folius Ventures].

We are very optimistic that the Metacene team, under Alan’s leadership, will bring a new level of innovation to Web3 games that not only elevates the level of Web3 game production to new standard but also deeply integrates a mature economic system, a native asset model and creative distribution mechanisms into an RPG genre that has great commercialization potential. We look forward to seeing Metacene bring the best experience to gamers around the world in the coming Web3 gaming boom. [Jon, Partner of SevenX Ventures]

Founded by industry veterans with over 20 years of experience from behemoths like Shanda Games, Blizzard, Perfect World, and others, MetaCene is developed on Unreal Engine 5 with wide accessibility across PC, iOS, Android, and cloud platforms, ensuring seamless million-player online experiences.

Through two rounds of rigorous Alpha Test in 2023, MetaCene has not only demonstrated the game’s AAA-aspiring quality but also highlighted its rapidly growing community base. From Alpha Test V.1 to V.2, the number of participating players had grown from 2,961 to 5,000+; daily average gaming time had increased from 2.5 hours per player to 4 hours. Notably, during Alpha Test V.2, over 20% of players made on-chain purchases, averaging $143 per paid-player.

MetaCene has launched two major NFT collections along its rapid game development. The MetaCene Apostle NFT (MAN) collection, limited to 500 pieces for the most honorable contributors to the ecosystem, achieved an impressive 400% value growth during Alpha Test V.2. The Cece Cube NFT collection, consisting of 2,997 pieces, has established itself as a driving force of MetaCene’s NFTFi system. MAN and Cece collections have accumulated a total volume of 1,314 ETH, reflecting the strong valuation and community confidence in MetaCene assets.

“This funding empowers us to accelerate our ambitious vision. We’ll invest in expanding our development team and attracting top talent across tech, design, and community management. The funds will fuel user acquisition initiatives and deepen our engagement with the passionate MetaCene community. Ultimately, we’re committed to delivering the most immersive and player-driven blockchain MMORPG experience possible, and this investment serves as a springboard for achieving that goal,” said Alan Tan, the founder and CEO of MetaCene.

Collaborated with powerhouses like Mocaverse, YGG and Ancient8 and galvanized by committed investors, MetaCene looks forward to Alpha Test V.3 in March 2024, which will include both PC and mobile platforms. Through the upcoming Content Creator Incubation Program, MetaCene is preparing to launch the Realms NFT collection, an innovative server-centered asset that will allow holders to build their own MetaCene world.

As the release of Commercial Version 1.0 inches closer in 2024, MetaCene aims to bring its co-creation and co-governance vision into life through AI integration and blockchain assets. By actively incorporating community feedback and ideas into the game design, MetaCene aspires to drive the maturation of a meta-MMO platform and continues to offer an unparalleled experience for all players.

About MetaCene

MetaCene is building a next-gen blockchain MMORPG homeland for mass players. It presents a surreal post-apocalyptic society where survivors interact with diverse NFTs to redefine civilizations. MetaCene pioneers player-centric entertainment, governance, and creation through innovative PVE and PVP gameplay, robust technology infrastructures, social guild DAO governance, sustainable economic systems, and in-game AIGC editors. MetaCene is founded by gaming experts with 20+ years of industry experience from Shanda Games, Blizzard, Perfect World, and others. It envisages a multi-chain future from Rangers Protocol with real-time confirmation and super-low gas fees.