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On September 20th, the plenary session of the 2026 International Biomedical Industry Innovation Beijing Forum was held in the Beijing Economic-Technological Development Area on September 19th. The forum, themed "Gathering Global Innovation, Exploring the Frontiers of Life," released a number of the citys latest achievements in the pharmaceutical and healthcare industry. At the forum, Beijing announced 12 key projects to be launched in 2026, eight of which are located in the Beijing Economic-Technological Development Area, covering various types including regional headquarters, strategic emerging industry headquarters, and R&D and industrialization bases.September 20th - Parliamentary elections were held in the German states of Berlin and Mecklenburg-Western Pomerania on the 20th. According to German sources, opinion polls indicate that German Chancellor Merz faces "another painful day" following the landslide victory of the far-right Alternative for Germany (AfD) party in Saxony-Anhalt two weeks ago. Merzs Christian Democratic Union (CDU) suffered a crushing defeat in the Saxony-Anhalt state elections on the 6th, with its vote share plummeting to around 17%; the AfD won approximately 44% of the vote, becoming the largest party in the state. In Mecklenburg-Western Pomerania, the CDU may suffer an even greater setback. A poll conducted by German television channel ZDF on the 17th showed that the CDUs support in Mecklenburg-Western Pomerania was only 6%, slightly above the 5% threshold for a party to enter the state parliament. German sources say that if the CDU fails to reach 5% of the vote, it will be a "nightmare" for the CDU and could be the final straw for Merz.On September 20, according to the Ministry of Human Resources and Social Security, the State Council appointed and removed several state personnel. Yu Xiaohui was appointed Vice Minister of Industry and Information Technology; Pan Wenbo was appointed Vice Minister of Agriculture and Rural Affairs; Li Chenggang was appointed Chinas Representative for International Trade Negotiations (at the ministerial level); Ling Ji was appointed Vice Representative for International Trade Negotiations; Cai Dong was appointed Deputy Director of the State Financial Supervision and Administration Bureau; Zhang Yongjun was appointed Deputy Director of the State Internet Information Office; Zhang Xiaotang was appointed Deputy Director of the State Tobacco Monopoly Administration; and Liu Zhen was appointed Deputy Director of the State Administration of Traditional Chinese Medicine. Xu Aosen was removed from his post as Vice Minister of Education; Hu Weilie was removed from his post as Vice Minister of Justice; Niu Yibing was removed from his post as Deputy Director of the State Internet Information Office; and Liao Zhiwei was removed from his post as Director of the Yangtze River Water Resources Commission.Ukrainian President Zelensky: This week alone, Russia has launched more than 2,000 attack drones at us, most of which are jet-powered drones, while also dropping 1,700 aerial bombs and launching 19 missiles of different types.September 20 - According to the Japan Meteorological Agency, a 5.0-magnitude earthquake struck off the coast of Amami Oshima at approximately 4:28 p.m. local time on the 20th. The earthquake had a depth of 60 kilometers and the strongest tremor was felt at an intensity of 3.

Multicoin Capital Unveils Latest $430M Crypto and Web3 Startup Fund

Skylar Shaw

Jul 14, 2022 14:37

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Although the markets for digital assets may be frozen over due to a new crypto winter, venture capital companies are nonetheless optimistic about the sector's and Web3's future.


Multicoin Capital, a cryptocurrency venture business, has shown no fear of the bears with the unveiling of its newest fund. Venture Fund III, the third fund from Multicoin, is a $430 million fund that backs entrepreneurs in the cryptocurrency, blockchain, and Web3 sectors.


The fund would reportedly invest $500,000 to $25 million in early-stage ideas and up to $100 million in later-stage, more established enterprises, according to the statement made on July 12.


The American business was established in 2017, the same year it started making investments in the crypto sector. It oversees a venture fund and a hedge fund that makes investments in both public and private markets. On July 13, managing partner Kyle Samani announced the information.

Concentrate on DAOs, Web3, and DeFi

The fund will concentrate on cryptocurrency initiatives it refers to as Proof of Physical Work, which "build incentive structures that enable anybody in the globe to permissionlessly contribute to a set of common goals." This is not the same as Bitcoin's (BTC) power-hungry proof-of-work consensus algorithm.


It was noted that the idea encourages individuals to carry out legitimate activity that creates physical infrastructure. It cited Web2 companies doing this already, such AirBnB and Uber.


The fund would also focus on DataDAOs, which are proofs of actual work that use data instead of infrastructure and are comparable. Due to privacy and security concerns, data cannot currently be aggregated; however, blockchain technology offers a solution in the form of decentralized, permissionless, and trust-minimized data intermediaries.


A DataDAO named Delphia just received a $60 million financing round headed by Multicoin.


The company is also focused in creator monetization, which gives content producers authority again instead of large social media platforms. Creators may manage their own material and its commercialization by utilizing nonfungible tokens (NFTs) and marketplaces.


The new fund was also interested in consumer-facing Web3 decentralized apps built on top of an existing framework, such Ethereum (ETH). Decentralized finance (DeFi), Web3 infrastructure, and DAO (decentralized autonomous organization) technology would also be examined.


The term "Web3" describes the subsequent generation of the internet, which is decentralized and run by its users as opposed to Web2, which is dominated by global tech and social media corporations that collect data for commercial gain.

Retail Suffers as VCs Continue to Fight

Retail traders are now suffering as the cryptocurrency markets, which serve as the basic financial foundation for many of these Web3 initiatives, are bleeding.


Cryptocurrency markets have lost another 1.9 percent of their value today, bringing the overall market size to $909 billion. Major cryptocurrencies are currently in a range-bound channel, but bad macroeconomic data on CPI (consumer price index/inflation) from the U.S. later today might drive markets down again.

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