RaaS #622: Cryptio Raised A $45M Series B!

JP Morgan Faces Ponzi Lawsuit, MetaComp Closed $35M in Funding, and Moar!

Dubai's TOKEN2049 summit, originally scheduled for April 29-30, 2026, has been pushed back a full year to April 21-22, 2027. The postponement follows Iranian drone strikes and shrapnel attacks across multiple Dubai locations, forcing many crypto industry attendees to evacuate the region.

Aave founder Stani Kulechov confirmed one of DeFi's most catastrophic user errors ever. Someone attempted to market buy $50 million worth of AAVE using USDT, ignored the extreme price impact warning, and received only 324 AAVE (~$36,000) in return. The protocol is refunding $600K in fees, but the underlying capital is permanently gone.

JP Morgan is facing a class action lawsuit alleging the bank helped enable a $328 million crypto Ponzi scheme run by Goliath Ventures. Prosecutors claim over $250 million flowed through a JPMorgan business account despite warning signs, with funds allegedly spent on luxury homes and travel rather than the promised crypto trading strategies.

Your daily dose of bite-sized crypto news.

1. Backpack's Limbo event kicks off now with TGE scheduled for March 23.

2. Ethereum Foundation launched a new Public Grant Explorer to browse and search all awarded grants in real-time.

3. Scroll promoted Raza to CEO of Up Labs as the protocol shifts focus from infrastructure to distribution and adoption.

4. Concrete DeFi USDT became the largest non-lending stablecoin DeFi vault.

5. Ethena shifted sUSDe unstaking from a static 7-day period to a dynamic 1-7 day model based on liquid stablecoin backing.

Cryptio raised a $45M Series B, co-led by BlackFin Capital Partners and Sentinel Global, to build ERP infrastructure for digital assets. The company now serves 400 leading institutions for accounting, reconciliation, and financial reporting across blockchain operations.

MetaComp closed $35M in funding backed by Alibaba and Spark Venture across two rounds in three months. The Singapore-based firm has processed $10B+ in payments and OTC volume in 2025 and is expanding its StableX Network across Asia, the Middle East, Africa, and Latin America.

VeryAI raised $10M to build human verification infrastructure for the AI age. The company is building systems to distinguish real humans from bots, deepfakes, and synthetic identities at internet scale.

"Yeah, when I buy OTC, I mean buying Over The Chart".

Top Gainers: TRILLIONS, LYN, SN3, TRUMP, APTM.

High-signal reads are worth your time, all in one place.

1. Four Pillars explains why Asia is pulling ahead in the stablecoin race, arguing that stablecoins are evolving beyond simple issuance into full financial stacks that include orchestration layers, onchain neobanks, and payment infrastructure.

2. Mastercard highlights its growing role in crypto infrastructure through partnerships with Circle, positioning stablecoins and blockchain payments as part of a broader push toward an internet-native financial system.

3. Katexbt.hl explores the idea of a collectibles supercycle, arguing that physical assets with strong provenance and legacy IP may outperform digital speculation as investors search for authenticity and scarcity.

4. Mitlar shares lessons from the memecoin trenches, arguing that narratives, not price charts, determine whether a coin is truly dead, and that some of the best entries happen when everyone else has already written a project off.

5. Hooeem examines the growing impact of AI on the labor market, combining economic data and research to argue that automation could reshape employment faster than most people expect.

Unitas Labs announced a $13.33M seed round to build infrastructure for sustainable onchain yield. Their mission focuses on making stable assets productive through transparent, market-neutral strategies.

Vitalik Buterin clarified his relationship with the Future of Life Institute after receiving criticism over their policy actions. He revealed FLI managed to cash out approximately $500M from his SHIB donation and has since pivoted to cultural and political action. An approach he worries could lead to authoritarian outcomes and backlashes despite good intentions.

AVAX is now live on Solana via Sunrise DeFi, bringing Avalanche's native token cross-chain to the Solana ecosystem.

Solana Funded launched a new platform letting traders use up to $100,000 in funded capital to trade memecoins on-chain. Traders keep up to 90% of profits with instant payouts. Your skill, their capital.

That’s all for today!