ChainCatcher news, Jason Kam, founder of Folius Ventures, stated during the "Navigating Bull and Bear Markets ------ Insights Behind Primary VC Investments" Space hosted by RootData that primary market investments have undergone significant changes in the past few years. Compared to before, current primary investments are more complex and have a higher speculative component. The number of projects that need to be listed or have already been listed but require selling has increased tenfold, hundredfold, or even thousandfold compared to previous cycles.The industry is facing challenges of insufficient liquidity and an increase in projects. Jason Kam believes that the industry will experience a reshuffle within the next 18 months, and after 24 months, a wave of promising secondary projects may emerge.

ChainCatcher news, LD Capital partner Li Xi posted on social media stating that this year, all the investments in the trading platform launched by LD Capital are showing profits on paper, but they are all paper values, as the shares belonging to VC are still 0 unlocked. Besides the VC that are "gathering the crowd," most VCs are just "big leeks" taking over. The primary market in this cycle has already become "hellishly difficult."

According to ChainCatcher news, a study published by the Web3 asset data platform RootData on the X platform indicates that by analyzing 20 projects launched on Binance Launchpool over the past three years, it was found that their final average valuation in the primary market is $217 million. Furthermore, by studying the investment data of the top 10 institutions most likely to invest in Binance Launchpool, it was discovered that their portfolios contain 76 projects valued under $300 million, or prioritize meeting Binance's public listing plan.In addition, RootData also stated that considering the overlapping investment targets of the top 10 institutions most likely to invest in Binance Launchpool and the latest disclosed valuations of the projects, Puffer Finance, DappOS, Ultiverse, MyShell, Xterio, and others are potential popular projects for listing on Binance Launchpool.Earlier, ChainCatcher reported that Binance announced it would first support small and medium-sized cryptocurrency projects, inviting quality teams and projects to apply for Binance listing projects, including: direct listing, Launchpools, Megadrops, etc. The aim is to strengthen support for projects with good fundamentals and sustainable business models to promote the development of the blockchain ecosystem.

ChainCatcher news, according to Fortune, Arbelos has completed a $28 million financing round, led by Dragonfly, with participation from FalcolnX, Circle, Paxos, Polygon, and Deribit. Arbelos Markets will primarily focus on derivatives and over-the-counter trading for institutional participants, providing trading liquidity for companies such as hedge funds and venture capital firms, acting as a counterparty for popular products like options and futures. This financing round concluded in mid-2023.It is reported that the two co-founders, Lim and Tang, both started their careers in traditional finance before transitioning to cryptocurrency. Lim served as the Vice President of Trading at Circle and was responsible for trading strategies at Galaxy Digital, the commercial bank founded by Mike Novogratz, before becoming the Head of Derivatives at Genesis Global Trading, a subsidiary of Barry Silbert's crypto empire. Since 2017, Tang has been the Chief Investment Officer and Managing Partner at LedgerPrime, a cryptocurrency hedge fund acquired by FTX.

ChainCatcher news, according to the official announcement, as of September 6, 2023, Binance has initiated asset recovery procedures for over 1,750 affected addresses to help users recover assets involved in the incident. To protect the interests of all affected users, Binance will suspend the asset recovery process for all primary market participants on February 29, 2024, and will initiate the asset recovery process for all secondary market participants on March 10, 2024.Among all users who participated in the official public or private XIRTAM token sales, approximately 150 affected users have not yet submitted their refund requests for their respective assets. Users who have not submitted their requests must do so by February 29.In the asset recovery process for secondary market participants, Binance will use the remaining ETH assets to facilitate the asset recovery process for secondary market participants. The refund calculations for affected secondary market participants will be automatically completed by Binance, and users will not need to provide any additional information or details.

ChainCatcher news, ChainCatcher and RootData held an offline exchange event today at 14:00 in Singapore themed "New Trends in Web3 and Changes in Investment and Financing". In the keynote speech session, RootData co-founder QuanYu first shared "Trends and Future of the Web3 Primary Market" in conjunction with data.According to QuanYu, in terms of financing, the number of financing deals in the Web3 industry has been continuously declining, reaching a nearly three-year low. The financing frequency in the social entertainment and DeFi sectors has significantly increased in recent months, while the NFT, gaming, and CeFi sectors have fallen into a trough. In terms of the number of projects, among the Web3 projects established after 2020, those from the United States, Singapore, mainland China, India, the United Kingdom, Hong Kong, and France are leading. However, affected by regulatory policies, the number and proportion of projects from mainland China have been on a downward trend since 2020, while in contrast, the number and proportion from Singapore, India, the United Kingdom, and France have significantly increased. Additionally, in terms of sectors, Web3 is currently leaning towards four trends: social, derivatives, RWA, and intent.It was introduced that RootData is becoming the most important channel for crypto enthusiasts to find high-quality early-stage projects, with over 9,000 crypto projects, 5,000 investors, and nearly 6,000 financing deals recorded. It presents information points such as project introductions, financing, teams, affiliated organizations, related news, competitors, token prices, and models in a visual and structured manner through tags, ecosystems, and compilations. In the future, RootData will integrate more on-chain and off-chain data types to further enhance the accuracy and readability of the data, supporting users in querying, tracking, and managing various Web3 data, and building a data engine for the Web3 industry.

ChainCatcher message, in response to the previous news about Sequoia Capital reducing its investment scale in cryptocurrency funds, DeFiance Capital founder Adrian tweeted that Sequoia is just doing the right thing, and every U.S. VC with a large asset management scale should take the same approach, either returning most of the managed assets to LPs or splitting the large fund into several smaller funds with different strategies, with LP approval.In addition, Arthur also stated that Sequoia made a very brave and correct decision. Currently, there are not enough opportunities in the primary market for cryptocurrency to match the scale of billions of dollars in funds, especially considering the uncertainty of exits.