Share this article
China Blockchain Conflux Gains $10M Investment From DWF
The investment firm bought the blockchain's native token after it signed a deal with China Telecom.
By Brandy Betz
Updated May 9, 2023, 4:09 a.m. Published Mar 1, 2023, 10:36 a.m.
Make us preferred on Google
Conflux, which recently agreed to build blockchain-based SIM cards with China's second-largest wireless carrier, received a $10 million investment from DWF Labs, a digital asset market maker and investment firm.
DWF Labs bought tokens of the China-based blockchain platform, which claims to be the only crypto company with approval to operate in the country after the government banned all crypto products in 2021.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
"Conflux's recent partnership with China Telecom is a major milestone for the blockchain industry, and we believe that it demonstrates the potential for Conflux's technology to revolutionize how we think about blockchain-enabled products and services,” DWF Labs managing partner Andrei Grachev said in a statement.
Conflux's CFX token rose more than 8.4% after the announcement.
Read more: What Is a Consensus Mechanism?
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Michael Saylor's Strategy catches a break from MSCI, but analysts caution fight isn’t over yet
MSCI won’t drop firms like Strategy from indexes yet, but a broader rule change may still be on the table
What to know:
- Shares of Strategy rose 6% after MSCI decided not to exclude digital asset treasury firms from its indexes.
- The decision alleviates immediate pressure on companies holding large amounts of bitcoin but not directly operating in the blockchain sector.
- Analysts caution that the situation may not be resolved, as future MSCI rule changes could still impact firms like Strategy.
Top Stories
