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YGG 3.0 officially launched and transformed into a cross-domain infrastructure layer

Comparatively, Yield Guild Games (YGG) announced the official launch of YGG 3.0, transforming from a Web3 game pioneer to an interdisciplinary infrastructure layer, providing a platform for organizing manpower, skills, and capital for various communities, covering collaboration in the digital economy. The core of YGG 3.0 includes the Guild Protocol open framework, which consists of three components: Guilds (social networking), Assets (capital), and activities (operation), to promote decentralized networks to become a productive economic engine. In terms of World Model Training, the Guild collects human spatial data to serve physical AI and robots, and distributes collection tasks through the @yggalerts mission platform. Additionally, YGG provides @vibecode_game with a human coordination layer for AI-assisted game development, responsible for trial play, curation, and ranking; Institutional DeFi supports independent professional associations to manage idle capital through automated, risk-controlled revenue strategies.

5d ago

The wave of bearish shutdowns of crypto projects continues, and deep clean-up of the industry accelerates reshuffle

Comparing news, crypto projects are shutting down again. Crypto trading platform AscendEX announced yesterday that it will cease operations, and the reason is due to the current market environment and the impact of the European Union's “Crypto Asset Market Regulation Act” (MiCA); Zapper, a DeFi data panel and asset portfolio tracking tool, announced that it will completely shut down websites, mobile apps, and APIs on August 3; YGG Play, a game distribution division under the Web3 gaming association YGG, will also cease operations and lay off 35 jobs on August 1. Although the crypto market has picked up from its previous low, the overall industry has not escaped the impact of the bear market. Capital, financing, and user growth continue to be under pressure, and many projects are difficult to maintain under operating costs and commercialization pressure. In recent years, a large number of projects, from trading platforms and DeFi infrastructure to NFTs, wallets, and Web3 games, have announced that they will stop operating or reduce their business one after another, and the crypto industry is still in a continuous clean-up phase. For users, they should pay timely attention to the project's official announcements, withdraw platform assets as soon as possible, and avoid financial risks caused by service termination or insufficient liquidity. At the same time, priority is given to choosing platforms and agreements with transparent capital, sufficient reserves, and compliant operation, and decentralized asset escrow to reduce potential losses caused by the shutdown or operating risks of a single platform.

44d ago

YGG's Web3 game distribution division will shut down on August 1

In comparison, Gabby Dizon, the co-founder of the Web3 gaming guild YGG, tweeted that YGG Play, the Web3 game distribution division under YGG, will close on August 1, affecting 35 jobs. An official commitment was made to pay an additional 8 weeks of salary. In the future, YGG will continue to be run by a small team and work with the gaming community to sell data to AI labs through game interaction and data training.

46d ago

Hong Kong Police: More than 2,000 people were arrested in the first quarter of this year for fraud and money laundering, 70% involved “puppet accounts”

Comparatively, the Financial Intelligence and Investigation Division of the Hong Kong Police Force jointly organized the “Anti-Money Laundering Exhibition” with the Hong Kong Monetary Authority and the Hong Kong Association of Banks. Hong Kong Police Commissioner Zhou Ming disclosed data that Hong Kong recorded more than 9,400 fraud cases in the first quarter of this year, a decrease of about 60 cases compared with the same period last year, but the amount of losses exceeded HK$1.85 billion, an increase of nearly HK$300 million over the same period last year. About 2,000 people were arrested in cases related to fraud and money laundering in the first quarter of this year. Of these, about 70% were “puppet account” holders. The Hong Kong police warned that according to the law, money laundering offenses can be fined up to HK$5 million and imprisoned for 14 years. Depending on the circumstances, they will also apply to the court for additional sentences. (HK01)

62d ago

Texas Forms Strategic Bitcoin Reserve Advisory Committee to Seek Direct Custody of Bitcoin

According to The Block, Texas Acting Auditor General Kelly Hancock has officially appointed four external members to the Strategic Bitcoin Reserve Advisory Committee. The committee was established under Senate Act No. 21. The members include CleanSpark President and CFO Gary Vecchiarelli, Bitcoin mining company Cormint founder and CEO Jamie McAvity, Southern Methodist University law professor Carla Reyes, and investment executive Laurie Dotter, to advise the Auditor General on Bitcoin valuation, custody, and risk management. Currently, Texas has established an initial position of $10 million through BlackRock's IBIT Bitcoin ETF, and has issued a call for proposals to seek assistance from service providers to convert reserve assets from IBIT to direct Bitcoin holdings. After Arizona and New Hampshire, Texas is the third US state to enact legislation to establish strategic Bitcoin reserves.

85d ago

Analysis: Over 90% of Web3 games fail and players never show up

According to Caladan's data, the Web3 gaming industry has burned as much as $150 billion while chasing a token-based future, yet players have never joined. By 2025, investment in Web3 games had almost completely dried up, and capital flows were shifting away from AI, real-world assets, and Layer-2 infrastructure, leading to the collapse of the gaming industry. According to the data, around 93% of the so-called GameFi projects are now almost dead, the token value has dropped 95% from its peak in 2022, and game studio funding has plummeted 93% by 2025. In 2022, 63% of Web3's venture capital went to the gaming sector, but by 2025, that percentage had dropped to single digits. The rapid shift in capital to AI, asset tokenization, and infrastructure led to the shutdown of more than 300 games, turning Web3 gaming into a cautionary tale about chasing speculation while ignoring product market fit. The report said: Capital was simultaneously destroyed at every level, and investors, studios, retail NFT buyers, gaming guilds, and the “click to earn” wave of Telegram's 300 million users have all fallen victim to this disaster. These failures aren't just due to a bad cycle or poor execution. The data shows that this is more of a structural mismatch. The Web3 game model is built around financial incentives, while player groups continue to show that what they need is entertainment more. At the core of GameFi is the “play-to-earn” model, which transforms gameplay into a financial feedback loop. Players buy tokens or NFTs, earn rewards for the same assets, and cash out profits as new players keep joining. However, once capital inflows slow down, the economic model collapsed. Token prices plummeted, rewards declined, users lost, and the entire in-game economy collapsed. Perhaps the most impressive data is the change in the direction of capital flows. The gaming sector attracted 62.5% of Web3 venture capital in 2022, but by 2025, that share had dropped to single digits. AI, real-world asset tokenization, and layer-2 infrastructure are attracting this lost capital. Even Animoca Brands, the most active investor in the Web3 space, has shrunk the gaming business to around 25% of its portfolio and is beginning to shift to stablecoins, real-world assets, and AI. (CoinDesk) This article is sponsored by GENG, Build Your Fortune on GENG (https://geng.one)

121d agoburnking

Analysis: The fragile cease-fire between the US and Iran has not solved the shipping dilemma, and there is still no specific information on the resumption of shipping

Comparative news is that although the fragile cease-fire agreement between the US and Iran once caused oil prices to plummet, shipping in the Strait of Hormuz was still blocked on Thursday, and traffic conditions in the region have not improved. Only 7 ships with certain ties to Iran were observed leaving the Persian Gulf on Wednesday. Iran's state media reported that in order to show Tehran's efforts to officially control the waterways, Iran's ports and the International Maritime Organization have issued two safe shipping routes. There may be various anti-ship mines on conventional routes through this narrow strait, so these routes are necessary. Martin Kelly, head of consulting at EOS Risk Group, said that rediscussing the landmine problem in the Strait of Hormuz is “the worst situation in the shipping industry”. If the route of the traffic plan normally used by ships is mined, it will take at least a few months to restore safe traffic. The industry organization International Shipping Association said that more work is needed before ships can pass on a large scale again. Thomas Kazakos, Secretary General of the Association, said that there is currently not much movement because no reliable confirmation has been received on ensuring safe passage, nor has it received any specific information on how to return traffic to normal.

135d ago

Hong Kong will enact legislation on the crypto asset declaration framework, with the goal of completing it within 2026

In comparison, Hong Kong's Deputy Secretary for Financial Services and the Treasury, Mr Chan Ho-lim, said at the 2026 Annual Tax Seminar of the Association of Chartered Certified Accountants (ACCA) Hong Kong Branch that the OECD has revised the Common Reporting Standard (CRS) to include new digital financial products such as central bank digital currencies and to optimize reporting and due diligence requirements for financial institutions. Furthermore, the OECD issued the Crypto Asset Declaration Framework (CARF) to enable tax jurisdictions to automatically exchange cryptoasset transaction data to improve transaction transparency. The Hong Kong Legislative Council has given support to complete legislation within 2026. (Aastocks)

143d ago

OpenClaw released a version update, adding QQ Bot integration to enhance the user friendliness of users in Asia Pacific

According to official news, OpenClaw 2026.3.31 was released this morning. The new version adds QQ bot integration (supports private chat, group chat, and guild chat and media), LINE media sending functionality, and real background task flow management (tasks can be listed, viewed, and cancelled), improving automation reliability. This release update highlights Asian market expansion, including better Chinese, Japanese, and Korean context, memory, and TTS support, as well as WhatsApp emoji reactions and Matrix room history streaming to cover developer communication channels outside of Slack or Discord. This update was widely praised by the community, but a few users reported that there were too many Exec approval prompts and approval issues after the update, and very few users reported occasional crashes or instability after the update.

143d ago

The Hong Kong Institute of Certified Public Accountants plans to improve virtual asset accounting guidelines within the year and is currently discussing stablecoin rules with the HKMA

In comparison, Law Cheuk-kin, the new president of the Hong Kong Institute of Certified Public Accountants, said that guidelines are being developed to let the accounting industry and the business community understand how to handle virtual assets in accounting. Currently, the first part of the guidelines relating to virtual currencies and stablecoins has been issued, while the second part, which has not yet been published, relates to the Hong Kong Monetary Authority's stablecoin audit requirements. The Association is currently discussing this with the Hong Kong Monetary Authority and is expected to be released within 6 months. The third part of the virtual asset accounting guidelines will be launched as soon as the end of the year, but it is still necessary to communicate and obtain agreement with regulators and the industry before launching them. (Hong Kong Economic Times)

190d ago