What the numbers say: Recent research from the crypto data website CoinGecko has revealed the most popular Web3 games played by at least 5,000 people every day in 2023 based on their daily average unique active wallet numbers. Space exploration game Alien Worlds led the list, with an overwhelming 230,978 daily active user number. In the top five, the game was followed by fantasy-themed Splinterlands, farming game Farmers World, post-apocalyptic Earth restoration game Planet IX, and casual mini game Iskra. Axie Infinity sat in the last place in the top 10 despite its massive popularity. Relevance: Another research by the Web3 data platform DappRadar recently pointed to a promising future for the Asian gaming market in terms of blockchain-based games. The study indicated that Asia has the potential to dominate the Web3 gaming industry, citing the user rates from last year in the global gaming market. The data compiled by the platform showed that the Asia-Pacific region was the largest gaming market in the world, with 1.75 billion players accounting for 55% of all users. The region was respectively followed by the Middle East and Africa, Europe, Latin America, and North America. The study further underlined that 62 out of the top 100 gaming companies in the world by market cap are from China, Japan, and South Korea. Brands that should care: According to CoinGecko's research report, several other popular Web3 games, including SecondLive, Wombat Dungeon Master, Tiny World, Meta Apes, and Tap Fantasy, found a place in the top 20, with daily average unique active wallet numbers ranging from 5,000 to 11,000.
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Binance.US, the American arm of the largest crypto exchange by trading volume, has terminated its $1.3B acquisition deal with the bankrupt crypto lender Voyager Digital, citing the hostile and uncertain regulatory climate in the U.S. Voyager was informed about the decision through a four-paragraph legal notice sent by the U.S. subsidiary. More: - Voyager said it would proceed with the Chapter 11 bankruptcy plan, distributing funds in cash and crypto directly to customers via its own platform.
- The bankrupt crypto lender added that it would provide more information about the process in the coming days.
- Binance.US demanded its $10M deposit back within three days, while lawyers for Voyager stated that the firm reserves all rights regarding a reverse termination fee owed by Binance.US.
- The decision marked the second failed acquisition deal for Voyager after an auction won by the bankrupt crypto exchange FTX's U.S. arm, FTX US, with a $1.4B agreement in September 2022.
- Binance.US' deal faced opposition from many regulators in the U.S., including the Department of Justice (DOJ), the New York State Department of Financial Services (NYDFS), the Texas State Securities Board, the Securities and Exchange Commission (SEC), and the Federal Trade Commission (FTC).
- The regulators' objections were mainly based on the concerns about a potential relationship of Binance.US with Binance.com and the transaction's potential to include the sale of unregistered securities, including Voyager's native token VGX under investigation.
Zoom-Out: - Voyager Digital filed for Chapter 11 bankruptcy in July 2022, nearly four years after its launch.
- Binance.US signed a deal with Voyager to acquire its assets for $1.3B in December following the collapse of the deal with FTX due to FTX's bankruptcy in November.
- If the deal had proceeded, it would have allowed Voyager creditors to compensate 50-73% of their holdings by applying for a refund through the Binance.US platform.
- The sale was expected to result in a $100M more gain for customers than a possible liquidation.
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The bankrupt crypto trading platform FTX's crypto derivatives exchange LedgerX has been sold to M7 Holdings, an affiliate of the U.S.-based exchange conglomerate Miami International Holdings (MIH), for $50M in a bankruptcy auction. The deal will allow MIH to enter the crypto trading business. More: - The bankruptcy auction was initially expected to occur on April 12 but postponed until further notice in an April 10 filing.
- John J. Ray III, the new CEO and restructuring head of the FTX Debtors, said the agreement is an example of their continuing efforts to deliver recoveries to stakeholders by monetizing assets.
- FTX's U.S. arm, FTX US, acquired Ledger Holdings, the parent company of LedgerX, with three licenses issued by the U.S. Commodity Futures Trading Commission (CFTC), for $298M in 2021.
- The firm, rebranded as FTX.US Derivatives after the purchase, generated $1.2M in trading and clearing revenue last year.
Zoom Out: - FTX, previously the third-largest crypto exchange, filed for Chapter 11 bankruptcy in November 2022, with all the 130 entities under the roof of FTX Group, including LedgerX.
- The downfall followed the claims that the exchange's former CEO, Sam Bankman-Fried (SBF), used customer funds in FTX to compensate for losses at FTX's sister company Alameda Research.
- SBF currently faces 13 charges, including bank fraud, money laundering, and bribery, to which he pleaded not guilty.
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Speaking at the City Week conference in London, the U.K.'s Financial Conduct Authority's (FCA) executive director, Sarah Pritchard, has urged crypto companies to work together to create a framework for crypto regulations. Pritchard also pointed out that collaboration with crypto firms would benefit the market, consumers, and companies, making crypto mainstream. More: - The agency's executive director suggested keeping minds open to the potential benefits of crypto and eyes to the possible risks.
- The FCA is one of the main financial and crypto regulators in the country, along with the U.K. Treasury.
- The regulator has been registering crypto companies seeking to operate in the U.K.
- In February, the U.K. Treasury started a crypto consultation to get feedback on how to regulate the industry.
- Pritchard said the consultation could pave the way for a new authorization system for crypto firms, including those outside the U.K.
Zoom Out: - FCA has been most famous for its critical approach toward the crypto industry and repeatedly warned consumers about the potential risks.
- The regulator has classified crypto as a high-risk asset class many times over the years.
- 195 applications from the crypto firms seeking to register with the FCA have been rejected or withdrawn so far, while only 41 were approved.
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Russian Finance Minister Anton Siluanov has unveiled the country’s new payment system allowing crypto use in cross-border transactions. The announcement came nearly one week after Russia’s central bank, the Bank of Russia, prepared a draft law to enable certain institutions to use crypto and other digital assets for international trade. More: - The new system will offer an alternative to the existing payment systems and be based on modern financial technologies.
- The future iterations of the system will include the use of the digital ruble, digital yuan, and other central bank digital currencies (CBDCs) to boost the de-dollarization efforts.
- The system will also prevent any third-party country from interfering and freezing payments other than two countries participating in the agreement.
- The Russian central bank’s earlier statements pointed out that the country would build special institutions that would operate crypto transfers to foreign entities and crypto mining.
- The Bank of Russia also said their entire international payment system could be based on national digital currencies, undergoing a transformation of five to seven years.
- Speaking at a recent event, the central bank’s chair, Elvira Nabiullina, stated that they support the use of digital assets by the state agencies for settlements with foreign entities, though they oppose the crypto use within the state.
Zoom Out: - Russia had to reduce its dependence on the U.S. dollar (USD) due to the sanctions imposed by the European Union (EU) and the U.S. towards the country following its invasion of Ukraine.
- In July 2022, Russian President Vladimir Putin banned payments with digital assets, including crypto, for goods and services across the nation by signing a bill.
- The country’s central bank most recently postponed the launch of the pilot of its CBDC, also known as the digital ruble, expected to start on April 1 since the related legislation has not been ready yet.
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Amazon Web Services (AWS), the e-commerce giant's cloud computing unit, has announced its partnership with Cronos Labs, the firm behind the Cronos blockchain, to boost the blockchain and Web3 adoption. Cronos network's native token, CRO, jumped 8% within just an hour of the announcement. More: - The partnership will aim to support the growth of Web3 startups and early-stage entrepreneurs through the Cronos Accelerator Program.
- The two firms will jointly help Web3 startups scale and grow their projects.
- The collaboration will also allow the Cronos ecosystem to benefit from the AWS Activate program that provides eligible startups with free tools, resources, and content designed to simplify certain startup-specific processes.
- The partnership will basically offer startups access to AWS' resources and Cronos Labs' expertise in developing blockchain.
Zoom-Out: - AWS also has partnerships with several other Web3-related firms, including Ava Labs, Chainlink, and VeChainThor.
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- The Bitcoin white paper was quietly removed from the latest macOS version nearly three weeks after being discovered within Apple's Mac devices that run on a modern version of the operating system.
- Crypto exchange Bitpanda has collaborated with the Austrian banking giant Raiffeisen Bank to offer crypto services to the lender's customers in Vienna.
- The Securities Commission of the Bahamas plans to tighten the financial and reporting requirements of the country's crypto regulations following the Bahamas-headquartered FTX's sudden collapse in November 2022.
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 |  | Doga is a tech and science editor who has been writing news for nearly 10 years. She worked for leading tech platforms and mainstrem media channels as an editor and presenter throughout his career. Then, she carried her know-how to more than one platform. She is a part-time cat lover and binge-watcher, and also fond of science, space, and emerging tech. She always has a story to tell. She is a bit addict to the laughter and -unfortunately- the '90s culture. |  | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 and 1972 Fords. | |
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