Wynd Network raises $3.5M from Polychain, Tribe and more for decentralized AI project

Polychain Capital and Tribe Capital led a $3.5 million seed round in the developer behind Grass, a decentralized web scraping network focused on the creation of decentralized AI models.

Bitscale, Big Brain, Advisors Anonymous, Typhon V, and Mozaik also took part in the seed round for Wynd Network. No Limit Holdings led a pre-seed round in December 2022. 

Grass, developed by Wynd Network, is a browser extension app that scrapes the web with individuals’ unused internet bandwidth and rewards users in so-called Grass Points. Wynd then sells its scraped datasets to companies in need of web data, including AI developers. 

The company’s model demonstrates one possible application of…

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This proposed bitcoin ETF has a twist. Would investors bite?

Yet another fund issuer wants to offer a spot bitcoin ETF — with a twist, in what appears to be an attempt to differentiate from a crowded field of would-be competitors. 

The proposed fund could resonate with those aware of the environmental impact of bitcoin mining, segment observers told Blockworks, but offers exposure that has recently lacked investor interest and good returns.

Tidal Investments, in partnership with alternative investment manager 7RCC, seeks to launch a spot bitcoin ETF that would also hold carbon credit futures contracts, according to a Monday filing. 

The proposed offering would develop a portfolio comprised of about 80% bitcoin and 20% carbon credit futures….

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LATEST: Marathon Digital Boosts Bitcoin Mining Capacity with $178.6 Million Investment

Marathon Digital is poised for a major expansion in Bitcoin mining, investing $178.6 million to acquire two data centers from Generate Capital. This strategic move, announced on December 19, aims to prepare Marathon for the Bitcoin mining reward halving in 2024. By adding 390 megawatts, Marathon’s capacity will surge to 910 megawatts. These centers, located in Texas and Nebraska, will enable Marathon to own 45% of its operations, planning a hash rate increase to 50 exahashes in two years. This acquisition is expected to cut mining costs by 30% while significantly boosting Bitcoin production capabilities.

Ordinals are driving up Bitcoin fees — but that may be good for the network

Bitcoin has had a stellar few weeks, up more than a 60% price increase since Sept. 11, as highlighted by CoinGecko. This upswing is part of a larger increase over the past year, buoyed by growing market dominance and a steady rise in open interest.

Moreover, the blockchain itself has shown increased on-chain activity throughout 2023, barring slowdowns in May and October, indicating a broader revival in Bitcoin’s usage and interest.

This on-chain activity renaissance is largely driven by Ordinal inscriptions — a relatively new way to embed unique data, like art, onto the Bitcoin blockchain.

Read more: Ethereum won’t flip Bitcoin anytime soon, but Ordinals could change that

While…

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Senator Warren says crypto firms shouldn’t partner with ex-government officials 

Crypto firms have a “revolving door” of ex-law enforcement and federal officials, according to one US senator who alleges these recruits are being unfairly used to block policy. 

Senator Elizabeth Warren, D-Mass., says crypto companies and lobbying groups that hire and partner with former government workers are undermining lawmakers’ bipartisan efforts to regulate the industry. 

In a letter sent Monday evening to crypto exchange Coinbase and lobby groups Coin Center and the Blockchain Association, Warren said the industry’s recruitment strategy is harming progress in Washington. 

Warren cited a November Politico article in which the author claims the crypto industry is…

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Bitcoin Archive Questions X Platform’s Algorithm Fairness Towards Bitcoin Content & Accounts

Bitcoin Archive raises concern over apparent algorithmic bias on X Platform, claiming Bitcoin accounts and content are getting less traction than similar non-Bitcoin posts. They report a stark contrast in engagement, with Bitcoin-related posts receiving far fewer impressions, despite substantial follower counts. This persistent pattern of lower visibility for Bitcoin content compared to other topics suggests a possible systematic issue within X Platform’s content distribution algorithms, igniting concerns among Bitcoin enthusiasts for equitable treatment in the digital space.

Bitcoin Archive X Post Link

The crypto industry is better positioned than ever in Washington

As we look ahead to 2024 and the future of crypto public policy in the United States, resiliency is the most important lens to view potential success and failure. 

The outlook for crypto — not just in the US, but globally — was grim at this juncture last year. The rapid implosion of FTX, and the intense scrutiny from regulators and lawmakers that followed, led some to conclude that the crypto industry’s days were numbered. 

Fast forward a year, with SBF’s conviction now behind us and a rebounding crypto market, those predictions look not only shortsighted, but naive. We still believe not only in the resilience of the underlying blockchain technology within this industry, but…

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NEW: Survey Reveals Over 80% of Institutional Investors Embrace Crypto’s Vital Role in Finance

Digital asset bank Sygnum’s latest survey, showcased in their “Future Finance 23” report, highlights a notable shift among institutional investors towards embracing cryptocurrencies. The survey, involving experienced investors, finds that 87% now invest in major blockchain technologies like Bitcoin and Ethereum, with many planning further investment. Key motivations include aligning with the crypto trend and diversifying portfolios. Notably, 37% view cryptocurrencies as more advantageous than traditional investments, focusing on direct token ownership and income through staking. This trend underscores a growing confidence in cryptocurrency’s role in reshaping the financial landscape, bolstered by advances in regulatory frameworks.

Top 10 Trending Crypto Coins of The Day

  1. Injective: Market Cap of $3.3 Billion.
  2. Coq Inu: Market Cap of $206 Million.
  3. Sei: Market Cap of $797 Million.
  4. Strike: Market Cap of $58 Million.
  5. Bonk: Market Cap of $1.1 Billion.
  6. Tectum: Market Cap of $59 Million.
  7. Celestia: Market Cap of $1.7 Billion.
  8. Solana: Market Cap of $31.3 Billion.
  9. Helium Mobile: Market Cap of $449 Million.
  10. Neon: Market Cap of $66 Million.

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

Do Kwon’s extradition to US to be retried in Montenegro

Former Terraform CEO Do Kwon’s extradition is still pending after a court in Montenegro granted his appeal.

A Montenegro High Court previously ruled that the extradition prerequisites had been met, initially paving the way for Kwon to be extradited. Reports even circulated that Montenegro was leaning toward a US extradition before the appellate court heard Kwon’s appeal.

However, lawyers representing Kwon have now successfully asserted that the High Court failed to hear Kwon’s response to the US request for extradition. 

“The investigating judge heard the defendant on the request of the Republic of South Korea, who agreed to be extradited by summary procedure in relation to…

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