Bing Ventures is a venture capital firm that invests in blockchain and distributed ledger technology startups. The company focuses on early-stage startups across the spectrum of the industry, providing funding, mentorship, advice, and connections to help build defining brands in the decentralized future.

Bing Ventures

Bing Ventures is a pioneering venture capital firm that backs startups and entrepreneurs driving the next wave of Web3 and blockchain innovations. Its team of crypto veterans and natives collectively brings decades of experience in investing in, incubating, developing, and marketing Web 3.0 projects.   
With a sector-agnostic, value-investing approach, it now has a portfolio spanning infrastructure, DeFi, GameFi, DAOs, Web3, and more.    
Bing Ventures is headquartered in Singapore and has team members decentralized across Asia, the UK, and the US.  
For more information, please visit https://www.bing-ventures.com/.

#ChartoftheDay Ten years ago, on July 22, 2014, #Ethereum launched its initial coin offering. Now, on July 23, 2024, the US financial regulators gave final approval for spot #Ether ETFs.
On the first day of trading, nine spot Ether ETFs drew $107 million of net inflows and had over $1 billion in trading volume. However, starting from the second day of trading, the ETFs had started to record a streak of net outflows. 
On July 24, the spot Ether ETFs had a net outflow of $133 million. Notably, Grayscale’s ETHE experienced a staggering outflow of $327 million. On July 25, the nine ETFs saw $152.3 million in outflows, with Grayscale recording an outflow of $346.22 million for the day. On July 26, the daily total net outflow increased to #249.89 million.
As of July 26, US spot ETH ETFs had a total net asset of $9.13 billion, with a cumulative total net outflow of $428.57 million.
Spot ETH ETFs kicked off trading amid the continued sell pressure and dread in the market brought on by Mt. Gox’s payment process. We expect limited inflows into ETH ETFs from institutional investors before October, which means Ether's price will not be taken much higher. But as the US election concludes and Ethereum’s next upgrade, Pectra, draws near, Ether's price will gradually move close to its historical highs. After all, in Bitcoin’s case, it took #BTC two months to make new price records after the approval of spot BTC ETFs.
#EthereumETF

#ChartoftheDay According to data from The Block, the number of active addresses on TON exceeded 400k and reached 495k at its highest point, representing over 5,000% year-on-year growth.
TON is no doubt one of the hottest ecosystems in crypto right now. Many projects in the ecosystem utilize bots, and TON’s surge in popularity at the beginning of the year was also driven by trading bots. Trading and gaming are two categories that TON-based projects concentrate on. Unlike previous GameFi projects that pursue 3A quality, high-end gaming engines, and massive scale, games on TON are often simple mini-games that are super easy to start but require time spent to get economic incentives by completing various tasks.
Despite the buzz and good numbers, no “killer apps” have emerged yet. Most venture capital firms also stay on the sidelines as they consider where to invest their money.
The #TON ecosystem benefits from the ease of tapping into #Telegram's vast user base to achieve adoption. However, at the current stage, it seems that the conversion is far from enough or thorough, with a large portion of the active addresses belonging to bots instead of real users.
Overall, the sustainability of the current activity still needs to be watched.

🔥 Top 10 #Crypto #Fundraising Events in the Last Two Weeks (July 6-19)
With a total of 43 deals, the enthusiasm in the primary market continues, albeit with a slight decline in the average size of the deals. 
1. Partior, invested by Peak XV Partners, Valor Capital Group, Jump Trading Group
2. Allium, invested by Theory Ventures, Kleiner Perkins, Amplify Partners
3. Chainbase, invested by Tencent Global, Matrix Partners China, Folius Ventures
4. ZAP, invested by Rarestone Ventures, Cypher Capital Group, Sharding Capital
5. Rome Protocol, invested by Hack VC, P2 Ventures, HashKey Capital
6. Mira Network, invested by BITKRAFT Ventures, Framework Ventures, Accel
7. Caliza, invested by Initialized Capital, Abstract Ventures, Digital Currency Group
8. Zivoe, invested by Andrew Keys, ICEBERG Capital, Concave Ventures
9. Aidatify, invested by STIX, Alter Global, Spencer Ventures
10. Term Labs, Inc., invested by Electric Capital, Maelstrom, Ava Labs

#ChartoftheDay Bankrup crypto lender BlockFi announced in an X post last Wednesday that they will begin the first interim distribution of funds to clients through Coinbase this month.
Previously, the collapsed crypto exchange Mt.Gox got the market’s attention by kicking off a roughly 9 billion-dollar payout plan. On July 5, one of Mt. Gox’s cod wallets transferred 47,229 BTC to an unknown wallet address, of which 1,545 BTC was moved to the hot wallet of Bitbank, one of the crypto exchanges supporting the repayment process. The move, together with the German government’s selling off of BTC, resulted in a single-day drop of over 8% in BTC price.
According to a notice on July 16, Mt. Gox has distributed to over 13,000 creditors to date in BTC and BCH. However, according to intelligence firm Arkham Intelligence, Mt. Gox still holds around 138,985 BTC in its main wallet. This means the sell pressure has not set in yet. That said, BTC price has boomed 120x from $485 when Mt. Gox went bankrupt, which means Mt. Gox only needs to use about 20% of its original holding of #BTC for repayment. Considering BTC’s long-term potential, it’s highly possible that the holdings will not be sold in total.
If the Mt. Gox payment process lasts more than two months, we don’t expect to see too much one-time sell pressure in the market.
Although BlockFi’s distributions may add extra sell-side pressure to the market, the relatively long distribution process will also mitigate the impact and leave room for recoveries and rallies.

😘 Web3 X Network: Incubation Program Batch 03 - Session 2, Week 7 Recap

This week, Batch 03 of the Web3 X Network Incubation Program dove into the world of venture capital (VC) with a stellar panel discussion titled "VC Insights." The session featured industry leaders offering their expertise and perspectives on the current VC landscape.

👨‍🏫 Meet the VC Experts:
Lorenzo de Leo: Managing Partner at Rokk3r, 
Dr. Ankur Pathak: Founding Principal at @London Real Ventures 
Lucas Liu: Media Marketing at HTX Ventures
Keisy L.: Head of Ecosystem at Newman Capital
@Yang Qian: Analyst at Bing Ventures

The discussion covered insights into the current investment climate for Web3 projects, including the types of projects VCs are most interested in and the factors they consider when making investment decisions. Panelists shared their experiences and advice on how startups can best position themselves to attract VC funding.

This "VC Insights" panel discussion equips Batch 03 participants with valuable knowledge as they navigate the fundraising landscape for their Web3 ventures. 

Thanks all our founders Paven Thuat DO, Long Nguyen, Abdul Adams, Walid Kabache, Jakyung Gu, Maksym Diuzhev, Vadym Sadkovskyi, @Nguyen Cong Kinh, Thirawat Tharawitsrikul, @Tung P., Sa Pham, Vu The Dung, Visaruth Sornsing, Sitthinut Kumpalanuwat, Peamaii Sps, Carmelo Ippolito, Saqib Ayaz, @Peter R., Dhonam Pemba, Rémy Bien Bao Peretti, Lan Pham, Trong Dinh, Ly Huynh Thanh Truc, Sang Huynh, Chonlarnatt P., Ploypitcha Boontavipitak, Chomtana Chanjaraswichai, Navadol Somboonkul and projects Octan Network, Searchpad, GLEN Studio, @Eladrea, Weilion, Voxelverses Game, Apes Planet Meta,Phyken Network, @Apestate

🤘 Stay tuned for future updates on the Web3 X Network Incubation Program and the exciting journey of Batch 03!

🔗Our Social:  X: https://x.com/w3x_nw
LinkedIn: https://lnkd.in/giqvK3SB 
Facebook: https://lnkd.in/gQ2VWsrV
Website: https://w3x.network

#W3X #IncubationProgram #Batch03

#ChartoftheDay Starknet Foundation is reportedly going to launch staking for its STRK token by the end of 2024.
StarkWare has presented a Starknet Improvement Proposal (SNIP) to the community regarding the introduction of staking. If the community approves the SNIP, Starknet staking is expected to go live on the testnet soon, with a Startket mainnet launch planned for Q4 2024. The first stage of staking will feature a permissionless on-chain staking protocol and stake delegation.
Staking: As a Staker, you can stake any amount of STRK greater than X STRK (X is between 10K-100K). Currently, Stakers are expected to run full nodes in preparation for the following stages. In the future, they will also need to run additional software that sequences and validates Starknet blocks and possibly perform additional network liveness and security tasks.
Stake Delegation: Delegators choose a Staker to whom they delegate their Stake, sharing rewards with said Staker. Stake Delegators do not need to run any software, as their chosen Staker runs it for them. This makes participation accessible to a broader audience, allowing users to participate in the Staking protocol without the technical and capital limitations.
The SNIP represents another step for Starknet towards decentralization. According to the SNIP which mainly focuses on the first stage of staking, future stages will include Stakers gradually assigned responsibilities, eventually validating and sequencing blocks. This gradual transition ensures stability and allows for thorough testing and improvements.

COM:BING-VENTURES

Bing Ventures

locale

market

industry

website

linkedin

invested in

Metrics