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first_img Umia raised $6.11 million through the auction of UMIA tokens, with a fully diluted valuation (FDV) reaching $18 million

The platform Umia, which helps cryptocurrency projects issue and govern tokens, completed a $6.11 million financing by auctioning its own UMIA tokens. Francesco Mosterts, co-founder and CEO of Umia, told The Block that the seven-day auction had a fully diluted valuation of $18 million, selling a total of 17.3 million tokens, which accounted for 34.6% of the total supply. All tokens sold in the auction were unlocked at issuance, with no lock-up period. According to CoinGecko data, the current trading price of UMIA is approximately $0.68, corresponding to a fully diluted valuation of about $34 million.About 45% of the funds came from institutional investors, with ten funds participating, including Galaxy Ventures, Digital Currency Group, Draper Associates, RenGen, Alpha EV, Maven 11, and Eon Capital, along with nearly 700 individual bidders. Umia stated that these funds had the same terms as other bidders, did not receive discounts, and no investors were granted board seats, observer roles, or advisory positions. The auction took place from August 26 to September 2 on Base, using Umia's version of Uniswap's continuous liquidation auction, with a minimum target of $2 million and a maximum token price of $0.36.Umia places the intellectual property, operational team, and treasury of each project under the same legal structure associated with the tokens, rather than being dispersed among companies, foundations, and DAOs.

Chainalysis: South Korea's cryptocurrency economy reached 449.1 billion USD, ranking first in East Asia, with AI token trading becoming the largest thematic sector

Chainalysis, in its "East Asia Cryptocurrency Adoption Report" released on October 5, stated that during the period from July 2025 to June 2026, overall cryptocurrency activity in East Asia has slightly contracted due to the global bear market, but significant differentiation has emerged within the region: South Korea remains the largest retail trading center, Hong Kong is becoming a hub for institutional fund settlement, Japanese users are accelerating their shift towards DEX and perpetual contracts, while the peer-to-peer use of stablecoins in mainland China continues to expand.The report estimates that South Korea's cryptocurrency economy will reach $449.1 billion during the same period, a 12.3% increase from the previous cycle, maintaining its position as the leader in East Asia; Japan, Hong Kong, mainland China, and Taiwan are at $228.3 billion, $192.2 billion, $176.3 billion, and $140.4 billion, respectively. The growth in South Korea is mainly driven by increased capital flows related to trading platforms, with the report stating that the local trading platform ecosystem has added approximately $51.1 billion in new traffic.The most notable change in the South Korean market comes from AI token trading. Chainalysis noted that by June 2026, AI-related cryptocurrency assets have become the largest thematic sector in won trading, surpassing the popularity of payment tokens like XRP. The report recorded that Worldcoin (WLD) achieved a trading volume of $7.41 billion during the observation period, with SAHARA, VIRTUAL, BIO, and NEAR also becoming active varieties. AI token trading priced in won accounts for about 19.5 times that of the yen market, indicating that South Korean retail investors are extending their AI investment preferences from the domestic stock market to the cryptocurrency market.However, institutional funds in South Korea are still in the preparation stage. The report points out that local banks and brokerages have generally formed digital asset teams and are promoting stablecoin, custody, and tokenization pilots, but direct corporate participation in cryptocurrency investment has not yet reached scale. If the cryptocurrency asset income tax planned for implementation in South Korea in 2027 is realized as scheduled, and corporate trading restrictions continue to be relaxed, the retail-dominated landscape of the South Korean market may face reevaluation.
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