Hello, hello people! I hope everything so far is going well today. It’s half way through the week and I am sure all of us can’t wait for the weekend.

Anyways we have some cool news to bring to you today in Web3!

Here is what you can expect from today’s newsletter🔥

• 🇨🇳 Conflux, the “Chinese Ethereum

• ⚖️ Coinbase & SEC Battle

• 🛍️ The Hundreds launches exclusive Metaverse shop

Conflux, the “Chinese Ethereum”

The spotlight is shining brightly on Conflux Network (CFX), often referred to as the "Chinese Ethereum," as Hong Kong opens its doors to retail traders in the crypto market.

This significant development has sparked a surge in the price of Conflux, raising speculation that it may attract substantial capital from Chinese investors and ignite a wave of new funds.

While the initial price spike has captured attention, transaction counts on Conflux have yet to surpass previous highs, indicating the need for further growth in its user base.

Positioned as a fast, affordable, and compliant public blockchain in China, Conflux has forged collaborations with prominent global brands and government entities, establishing its reputation as a reliable player in the blockchain space.

Conflux Network has ambitious plans to revolutionise various sectors by leveraging blockchain technology.

In collaboration with China Telecom, a state-backed telecom provider, Conflux aims to develop blockchain-based SIM cards, paving the way for enhanced security and innovation in telecommunications.

Additionally, Conflux is actively supporting expansions in the Web3 domain, propelling advancements in areas such as decentralised finance, non-fungible tokens (NFTs), and metaverse initiatives.

The growing recognition of Conflux's potential has gained momentum, with notable members of the Crypto Twitter community dubbing it the "Chinese Ethereum."

This newfound attention has significantly boosted Conflux's valuation, propelling it to become one of the top-performing tokens this year.

Is it a good investment? Well no one can be certain.

For some investors with a focus on the Asian market, CFX tokens are seen as a proxy bet, indirectly tapping into the broader market dynamics. The appeal lies in Conflux's connection to the Chinese market and its potential to capitalize on the region's growth and economic prowess.

Conflux Network's partnership with China Telecom carries immense significance, signifying strong ties with influential organisations.

This collaboration serves as a bullish signal, underscoring Conflux's commitment to establishing itself as a leading player in the blockchain industry.

The market capitalization of Conflux has skyrocketed from $46 million to nearly $650 million, solidifying its position as one of the year's most impressive performers.

As Conflux continues to make strides in the crypto landscape and strengthen its presence as the 'Chinese Ethereum,' the attention and anticipation surrounding its future growth are palpable.

Coinbase & SEC Battle

Coinbase, one of the leading cryptocurrency exchanges, is accusing the U.S. Securities and Exchange Commission (SEC) of disregarding its request for clear and definitive regulations in the crypto industry.

In an ongoing legal battle, Coinbase has filed a lawsuit urging a federal court to compel the SEC to respond to its demand for greater regulatory clarity.

Despite Coinbase's efforts, the SEC has yet to provide a response to the petition, while SEC Chair Gary Gensler has stated that existing regulations already cover the crypto space.

Seeking a mandamus order, Coinbase is pushing for the SEC to address its concerns and provide the requested guidance.

The SEC, on the other hand, is seeking to dismiss Coinbase's action by arguing that mandamus relief should only be granted when there is a clear and indisputable right to relief.

Coinbase contends that the SEC's enforcement actions against them undermine the rule-making petition and create a climate of uncertainty.

Their frustration with the SEC is rooted in the regulator's choice to regulate the crypto industry through enforcement actions rather than proactive rule-making.

This delay in establishing comprehensive regulations and the reliance on enforcement measures have drawn criticism from Coinbase, which asserts that clear and consistent rules are necessary for the industry's healthy growth and development.

As the legal battle between Coinbase and the SEC unfolds, Coinbase continues to appreciate the court's attention and consideration in this matter.

The outcome of this case could have significant implications for the crypto industry as a whole, potentially shaping the future regulatory landscape for cryptocurrencies and related businesses.

The Hundreds Launches Exclusive Metaverse Shop Featuring Limited Drops

The popular streetwear brand, The Hundreds, has ventured into the metaverse by opening a virtual shop within the some.place platform.

This immersive 3D store offers a unique and social shopping experience, aiming to replicate The Hundreds' physical store in Los Angeles.

Powered by Unreal Engine 5, the storefront provides an unprecedented level of detail and realism, setting it apart from other metaverse experiences.

Fans of The Hundreds can look forward to exclusive apparel drops within the virtual store, including items reserved only for holders of the brand's coveted Adam Bomb Squad NFT collection.

One of the key features of the platform is its integration of digital and real-world interactions, allowing users to earn rewards and bridging the gap between the brand's online and offline presence.

By engaging with the virtual store, customers can unlock special benefits and incentives.

Initially launching as a mobile app, has plans to expand to the web, welcoming other brands to create their own virtual stores and immersive experiences.

The platform also offers generative AI tools to facilitate the creation of custom worlds, making it easier for companies to design their unique metaverse spaces.

Additionally, future NFTs on the platform will be minted on the Ethereum scaling network Polygon.

The overarching goal is to provide an accessible app that offers immersive social opportunities and brand experiences. By combining technology and community access, they aim to redefine how users interact with brands and create a dynamic metaverse environment.

With The Hundreds pioneering the metaverse shop concept and delivering exclusive drops, fashion enthusiasts and streetwear fans can immerse themselves in a virtual shopping experience like never before.

Disclaimer: This is not any kind of financial advise. This newsletter is solely informational; it does not constitute investment advice, a solicitation to buy or sell any securities, or a recommendation regarding how to manage your money. Be cautious and conduct your own study, please.