Here is what we have in store in this Market Summary:
1. Ronin plans migration from gaming sidechain to Ethereum Layer 2
2. Circle raises $222M in ARC token presale as revenue grows
3. Fortune Protocol completes seed round focused on AI-powered prediction markets
4. Corpay integrates stablecoin wallet infrastructure through BVNK
5. Digital Asset targets a $2B valuation in new fundraising efforts
Ronin to migrate to Ethereum Layer 2 architecture
Ronin is preparing to migrate from its current gaming sidechain structure to an Ethereum Layer 2 built using the OP Stack.
The transition comes four years after the Lazarus-linked bridge exploit that impacted the network in 2022. Ronin said the migration is intended to improve interoperability with Ethereum and simplify infrastructure for developers building gaming applications on the network.
Read the full article by The Block here
Circle raises $222M in ARC token presale
Circle raised $222M through a presale of its ARC token at a fully diluted valuation of $3B. The round included participation from firms such as a16z crypto and BlackRock. Circle also reported that first-quarter revenue increased 20% year over year.
Read the full article by The Block here
Fortune Protocol completes seed financing round
Fortune Protocol has completed a successful seed round focused on expanding its AI-powered prediction market platform.
The project combines prediction markets with AI systems aimed at improving forecasting and information aggregation across different categories and datasets. Funding will go toward platform development and market coordination infrastructure.
Read the full article by The Block here
Corpay integrates stablecoin wallet infrastructure
Corpay is partnering with BVNK to add stablecoin wallet capabilities for global customers. Corpay is part of the S&P 500 and processes large volumes of corporate and cross-border payments globally.
The integration will allow businesses using Corpay’s payment systems to access stablecoin settlement and transfer infrastructure alongside traditional financial rails.
Read the full article by The Block here
Digital Asset targets $2B valuation
Digital Asset is reportedly seeking a valuation of around $2B in a funding round led by a16z.
The company develops institutional blockchain infrastructure and is closely tied to the Canton Network, which focuses on tokenized financial assets and regulated financial applications.
The fundraising discussions come as financial institutions continue increasing activity around tokenization and blockchain-based settlement systems.
Read the full article by CoinDesk here
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Disclaimer:
The content covered in this newsletter is not to be considered investment or financial advice. It is for informational and educational purposes only. The views and opinions expressed in this publication do not reflect those of AP Collective.
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