ChainCatcher news, according to Bloomberg, Alexander Lin and Carl Hua have founded a new venture capital fund called Reforge, aiming to raise $80 million, of which $25 million has been secured so far. Through Reforge, Lin hopes to find technologies that make it easier for founders and developers to adopt blockchain. He stated, "We believe that the current landscape of layer one blockchains does not meet the needs of the best consumer founders."In addition, Reforge co-founder Alexander Lin believes that the rapid launch of tokens driven by capital allocators seeking returns is a major reason for this. He also criticized the overheated investment phenomenon in cross-border startups between crypto and artificial intelligence, questioning the feasibility of decentralized computing networks meeting the power demands of AI tools.It is reported that Lin and Carl Hua both held senior positions at Shima Capital until leaving in January this year to establish Reforge.Previous news reported that the founder of crypto venture capital Shima Capital is suspected of misappropriating assets, and several company executives have resigned. Its founder Yida Gao created secret offshore entities and transferred assets belonging to his venture capital firm to companies registered in his own name, without the knowledge of other investors in those companies.

ChainCatcher news, according to Fortune magazine, a survey found that Yida Gao, the founder of crypto venture capital Shima Capital, created a secret offshore entity and transferred assets belonging to his venture capital firm to a company registered in his own name, without the knowledge of other investors in the company. Lawyer Eric Hess stated that this completely violates the conduct permitted under the Investment Advisers Act.Yida Gao has not been charged with any crime, and a representative of Shima Capital stated that the company would not comment on "such regulatory matters." However, according to an anonymous source, Yida Gao's poor performance and behavior have clearly violated the investor protection rules of the U.S. Securities and Exchange Commission (SEC), putting him in a difficult position for raising further funds. A representative from Shima Capital revealed that the company is currently not seeking financing.Shima Capital has also experienced a wave of high-level employee departures in recent months, including Chief Technology Officer Carl Hua and Research Director Alexander Lin, who left earlier this year to start their own venture capital firm, as well as Chief Operating Officer and Head of Compliance Hazel Chen. The departing executives did not respond to requests for comment. The latest SEC filings show that the firm manages approximately $158 million in assets—this figure is down from the $200 million raised in 2022.

ChainCatcher news, NFT platform Stashh Labs has completed a $3.3 million funding round, with participation from investors such as Animoca, 6th Man Ventures, and Shima Capital.Stashh Labs will use these funds to further its mission of building an NFT platform for creators and collectors within various decentralized ecosystems.According to Web3 asset data platform RootData, Stashh is an NFT marketplace where users can create, buy, and trade NFTs with native privacy and access control, known as Secret NFTs or sNFTs.

ChainCatcher news, according to official sources, the decentralized trading execution protocol Smart Transaction (STXN) has announced the completion of a $5.5 million seed round financing, with participation from HackVC, Backed, Shima Capital, Signum Capital, Antalpha, Gate.io, Breed VC, Chorus One, Tane, and others. Specific valuation information has not yet been disclosed.It is reported that Smart Transaction is a decentralized trading creation and execution framework run by solvers, allowing users to set specific conditions for trading time and execution, enabling transactions to be processed based on precise conditions and timing.

ChainCatcher news, according to The Block, the RWA tokenization platform Fortunafi announced the completion of a $9.51 million strategic seed round financing at a valuation of $48 million, with participation from Shima Capital, Manifold, Jordan Fish (also known as Cobie), Ari Litan from LayerZero Labs, Austin Green from Llama, Evanss6, and Scott Lewis.It is reported that Fortunafi announced the launch of a new stablecoin protocol called Reservoir, which is expected to go live next month, and will also collaborate with Index Coop to launch a real-world asset index token.According to the Web3 asset data platform RootData, Fortunafi is an on-chain financial institution that provides integrated liquidity solutions for traditional entities and stablecoin issuers. Fortunafi offers higher-yield investment products through the acquisition, aggregation, and securitization of on-chain real-world assets (RWA).

ChainCatcher news, according to official sources, the GameFi project Uncharted has announced the completion of a $1.7 million seed round financing, led by Shima Capital, with participation from The Spartan Group, Double Peak Group, Devmons, 32-Bit Ventures, LiquidX, D64 Ventures, Flying Falcon, and a group of angel investors.It is reported that Uncharted focuses on building a cryptocurrency-based gaming layer, providing a platform for game creators and studios. Currently, it has a game studio and a product center that supports game creators.

ChainCatcher news, according to VentureBeat, the Web3 game studio Great Big Beautiful Tomorrow, based on the Polygon blockchain, announced the completion of a $3 million seed round financing. This round was led by Shima Capital, with participation from Sfermion, GSR Markets, Arca, Lyrik Ventures, Flying Falcon, Press Start Capital, 32-Bit Ventures, and Polygon Labs.It is reported that the studio is about to launch a new game called "The Mystery Society," which utilizes NFTs to achieve virtual item ownership. The game is currently in beta testing, aiming to expand Web3's appeal to casual audiences and help spread Web3 to more mainstream players.

ChainCatcher news, in the "2023 Web3 Industry Development Research Report and Annual List" published by the cryptocurrency asset data platform RootDada, Shima Capital has been selected as one of the Top 100 investment institutions in 2023.In 2023, Shima Capital's publicly disclosed investment projects exceeded 35, with representative projects including Monad, Berachain, Supra, Pudgy Penguins, and others.

ChainCatcher news, according to CoinDesk, Web3 investment application Dopamine's developer Web3Intelligence has completed a $4.5 million private fundraising round, with participation from DAO MAKER, Shima Capital, and Gate.It is reported that Web3Intelligence will issue the token DOPE as a utility token for accessing Dopamine. Web3Intelligence aims to provide anti-money laundering information to institutions to offer their clients compliance standards equivalent to those in traditional finance.

ChainCatcher news, the on-chain copyright platform Trips announced the completion of a $2.5 million Pre-Seed funding round, with participation from Shima Capital, Animal Capital, Blackwood Ventures, Serafund, Calligraphy Digital, and the Avalanche ecosystem fund Blizzard.Trips is built on the Avalanche Evergreen subnet, helping content creators establish copyright on the blockchain, providing tools necessary for content protection, authentication, and monetization for each creator. Its services currently support the video streaming platform YouTube.

ChainCatcher news, the Web3 collaborative entertainment protocol Mythic Protocol has announced the completion of a $6.5 million seed round financing, led by Shima Capital and Alpha JWC, with participation from Saison Capital, GDV Venture, Planetarium Labs, Arcane Group, Presto Labs, MARBLEX, EMURGO Ventures, HYPERITHM, and several angel investors. The funds will be used to develop and launch the initial core products.It is reported that the services under Mythic Protocol can help gamers, investors, and creators around the world collaborate on a decentralized blockchain to participate in building collaborative entertainment products that realize their vision of the world.

ChainCatcher news, the Web3 domain project D3 Global has completed a $5 million seed round financing, led by Shima Capital, with participation from Arthur Hayes's Maelstrom, Lightshift, Dispersion Capital, VentureSouq, Infinite Capital, and Identity Digital founder Paul Stahura.D3 Global stated that it possesses "patent-pending technology" that can bring more interoperability to the Web2 and Web3 internet while creating more utility and security. It plans to "apply for and acquire new top-level domains during ICANN's upcoming application window to provide secure identities supported by all browsers and devices," with these top-level domains primarily managed by ICANN or the Internet Corporation for Assigned Names and Numbers. D3 has also launched an on-chain marketplace for domain names, including the tokenization of over 1,000 top-level domains.

ChainCatcher news, according to The Block, Web3 advertising startup HypeLab has completed a $4 million seed round financing, led jointly by Shima Capital and Makers Fund, with other specific financing details not yet disclosed.HypeLab is a Web3 advertising startup aimed at personalizing and providing advertising services using on-chain data to help clients grow their businesses and user bases. It was founded by Ed Weng, a former Google product manager with a background in digital advertising.

ChainCatcher news, modular blockchain Artela has completed a $6 million seed round financing, led by Shima Capital, with participation from A&T Capital, Big Brain Holdings, SevenX Ventures, Dispersion Capital, Amino Capital, and others. Artela plans to release the Aspect white paper and launch the initial testnet later this year.It is reported that Artela is a scalable blockchain network that enables developers to build feature-rich dApps. Artela is committed to enhancing blockchain scalability, allowing developers to easily customize their applications in a modular way and driving faster innovation in Web3. (source link)

ChainCatcher news, according to CoinDesk, Web3 game studio Pixion Games has completed a $5.5 million seed round financing, with investors including the Blizzard Fund of the Avalanche Foundation, Shima Capital, and ReadyPlayerDAO.Pixion Games plans to build its flagship game Fableborne, an action-based role-playing game that allows players to interact with on-chain assets built on the Avalanche network. (Source link)

ChainCatcher news, DeFi infrastructure Earn Network has completed a $2.7 million seed round financing, led by [Shima Capital](https://www.rootdata.com/zh/Investors/detail/Shima Capital?k=MTM1), with participation from DFG, Jsquare, LD Capital, Cronos Labs, GTS Ventures, Bixin Ventures, ViaBTC Capital, Mars DAO, and Mirana Ventures. This round of financing will be used for product development and recruitment.It is reported that Earn Network provides no-code solutions, allowing anyone to create their own customized financial products using audited templates, such as staking or lending pools. (Source link)

ChainCatcher news, hardware wallet solution provider Tangem has completed a $8 million financing round led by Shima Capital, which will be used to expand its product range.It is reported that Tangem previously completed a $15 million financing round led by SBI Digital Asset Holdings, bringing its total financing amount to $23 million to date. (Source link)

ChainCatcher news, according to South Korean media Hankyung, the blockchain-based game developer [GOMBLE](https://www.rootdata.com/zh/Projects/detail/Rumby Stars - GOMBLE?k=NzY5Mg==) has completed its first seed round financing, led by Binance Labs, Spartan, and Shima Capital, with participation from Altos Ventures, Animoca Brands, Crit Ventures, Planetarium, and others. The investment amount and company valuation have not been disclosed.According to ChainCatcher's previous report, on April 20, Binance Labs had committed to investing in the seed round financing of the blockchain-based game developer GOMBLE. (source link)