TRAX Crypto News: $2.9M Raised in Decentralized Funding Round
A London-based Web3 music startup called TRAX has successfully raised $2.9 million in a decentralized funding round on the Internet Computer (ICP) blockchain. After the raise, TRAX will operate as a decentralized autonomous organization (DAO), with governance controlled by holders of the TRAX governance token. The funds will be held in the TRAX DAO’s treasury and can be utilized according to the decisions made by TRAX holders. The raise was completed on December 23, 2023, and the treasury is now valued at approximately $4 million.
KuCoin Labs Partners with ETGM to Advance BTC Ecosystem
KuCoin Labs, an investment and incubation program by KuCoin, has partnered with ETGM, a digital currency project focused on exploring new frontiers in blockchain technology. The collaboration aims to drive advancements in the Bitcoin ecosystem, improve user experience, and provide broader access to blockchain technologies. ETGM has developed a multi-chain inscription bot on Telegram that allows users to perform transactions on major blockchains such as Bitcoin, Ethereum, Polygon, Solana, and Cosmos. The bot serves as a one-stop solution for easy asset access and management across different blockchain platforms.
Bitget Promotes Gender Diversity in Web3 with $10 Million Commitment
Crypto exchange Bitget has launched the Blockchain4Her initiative with a $10 million commitment to promote gender diversity and inclusivity in the blockchain industry. Bitget conducted a study that revealed limited gender diversity in the blockchain funding market, with only 6% of total funding going to female-led startups. As part of the initiative, Bitget will provide incubation programs, mentorship, and resources for female entrepreneurs in the blockchain industry. It will also host pitch competitions for female-founded startups and organize a Women in Blockchain Summit & Awards to recognize the achievements of women in the space. Bitget aims to address gender bias and create more opportunities for women in the blockchain industry.
Hot Take: The Importance of Gender Diversity in Web3
The initiatives taken by TRAX, KuCoin Labs, and Bitget to promote gender diversity in the Web3 and blockchain industries are crucial steps towards creating a more inclusive and equal ecosystem. Despite progress, there is still significant gender bias in these industries, with women being underrepresented and facing limited funding opportunities. By providing support, resources, and recognition for women in the blockchain space, these initiatives aim to break down barriers and empower female entrepreneurs. Gender diversity brings fresh perspectives, innovation, and creativity to the table, ultimately benefiting the entire industry. It is essential for all stakeholders to actively promote and embrace gender diversity to ensure a more equitable future for Web3.
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