Are you curious about the latest in the crypto world? Here’s a rundown of today’s key trends and events affecting Bitcoin prices, blockchain technology, DeFi, NFTs, Web3, and crypto regulations.
Former Binance exec and now VC launches ICO platform BuidlPad
Erick Zhang, Managing Partner at Nomad Capital and former Head of Research and Lead of Binance Launchpad, has introduced a new initial coin offering (ICO) platform, BuidlPad.
The announcement was made during the inaugural conference, Emergence, hosted by The Block and Foresight Ventures on Thursday. Last week, Zhang had informed The Block that he was preparing to launch the platform, driven by a renewed interest in ICOs. He emphasized that ICOs represent a "powerful" method for founders to build engaged and loyal communities where every participant has a stake in the project's success.
"I've also engaged in discussions with several project founders, and the consensus is clear — there is a significant demand for a new ICO platform," Zhang stated.
The recent resurgence in ICO interest, as reported by The Block, is attributed to factors such as the pro-crypto stance of U.S. President-elect Donald Trump, dissatisfaction among retail investors regarding the high prices they pay compared to venture capital investors, and poor user retention from token airdrop campaigns. Zhang supported these views, citing community frustration with inflated valuations and the underperformance of venture capital-backed tokens. He criticized the current venture capital fundraising model, stating that it "favors the wealthy" and that ICOs allow retail investors to invest in tokens at earlier and lower valuations, avoiding the inflated "20x of the seed price when they are finally listed."
MicroStrategy Stock Soars. How Much Its Bet on Bitcoin Is Now Worth, Barrons.com
Technically, MicroStrategy is a software company. However, its primary value now stems from its significant Bitcoin holdings, which recently surpassed $100,000 for the first time.
MicroStrategy's shares rose 8% when the market opened, reaching $439.12. The company held 402,100 Bitcoin as of Tuesday, according to a filing. This holding is valued at just over $41 billion, representing approximately half of the company's market capitalization. The stock has increased by more than 500% since the beginning of the year, leading some research firms to caution that the company may be experiencing a bubble.
MicroStrategy, along with other companies that have aligned themselves with cryptocurrencies, has benefited from the surge in digital asset values following Donald Trump’s victory last month in the U.S. presidential election. On Wednesday, Trump appointed Paul Atkins to head the Securities and Exchange Commission, marking another crypto-friendly move within the new administration.
Bitcoin Tops $100,000 — WSJ
Bitcoin prices have surged into six-figure territory following President-elect Donald Trump's appointment of Paul Atkins to lead the Securities and Exchange Commission (SEC). As a conservative attorney, Atkins has expressed skepticism toward the SEC's stringent regulations on cryptocurrency firms and is anticipated to adopt a more accommodating approach to the market.
Early trading on Thursday saw stock indexes remain largely unchanged after robust earnings from the technology sector had driven benchmarks to new record highs in the previous session. A limited number of corporate earnings reports were released this morning. Notably, shares of American Airlines experienced a significant increase after the airline designated Citi as its exclusive credit card provider.
The three major U.S. stock indexes remained relatively flat. On Wednesday, all three indexes closed at record highs, with the Dow Industrial Average surpassing 45,000 for the first time. Additionally, Bitcoin maintained its upward momentum, exceeding $100,000 for the first time late Wednesday.
CoinDesk 20 Performance Update: RENDER Gains 14.7% as Index Moves Higher
CoinDesk Indices has released its daily market update, showcasing the top-performing and underperforming assets within the CoinDesk 20 Index.
Currently, the CoinDesk 20 Index stands at 3,974.18, reflecting an increase of 1.8% (+70.68) since the previous day’s close.
Half of the assets within the index have recorded gains, with notable leaders including Render (RNDR), up by 14.7%, and Litecoin (LTC), which has risen by 9.7%.
Story Protocol-based AI startup Sekai raises $3 million in seed round led by Hashed
On Thursday, generative AI storytelling startup Sekai announced that it has secured $3.1 million in a seed funding round led by Hashed.
Sekai leverages the Story Protocol to transform storytelling into a collaborative "multiplayer experience," enabling aspiring storytellers to co-create with others using generative AI. At the same time, the platform aims to empower creators by offering tools to protect their intellectual property and earn revenue from it.
“The big IP monopolies and traditional IP structures don’t prioritize originality,” said Sekai CEO Kaiser Kim. “We are combining AI with blockchain-secured IP to empower creators to explore new forms of collaborative storytelling beyond traditional silos.”
With the growing adoption of generative AI tools—ranging from chatbots to platforms that enable rapid creation of illustrations and videos—industry leaders in technology and entertainment anticipate a significant shift in how media is developed and by whom. Story Protocol, a Layer 1 blockchain developed primarily by PIP Labs and backed by a16z, is being promoted as a tool to tokenize intellectual property, making it programmable in the era of AI-driven innovation.
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