Paris Crypto Feast: EthCC Steals the Spotlight, Highlighting Web3 and Crypto Organizations Growing in Paris
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Paris Crypto Feast: EthCC Steals the Spotlight, Highlighting Web3 and Crypto Organizations Growing in Paris
When encryption becomes Paris's new "tag," what kind of transformation and innovation will the city undergo?
Navigating Web3 tides with focused insightsAuthors: Beosin Donny, Eaton, Dorit
Around 1920, Hemingway lived in Paris as a European correspondent, and the book A Moveable Feast records his life during that period.
However, this book was written nearly four decades later. In other words, the “scene” of the feast had long vanished—both author and reader can only chase those bygone days through memory, memories that have already blurred and distorted through the lens of time.
All memories of Paris have blended into a shared historical memory of the city.
In this semi-documentary, semi-fictional work, the social tapestry of Paris’s literary circle in the 1920s gradually unfolds. Iconic figures who once dominated the global literary and art scenes are vividly sketched with just a few strokes, forever merging with the city and this book.
Now, 100 years later, the city of Paris is launching a brand-new feast—the Web3 crypto feast.
Ethereum Community Conference (EthCC): A Moveable Crypto Feast
The most vibrant event recently in Paris is the Ethereum Community Conference (EthCC), held from July 17 to 20 in Paris, France. Organized by the nonprofit Ethereum France, EthCC has taken place annually in Paris since 2018, aiming to foster connections between startups and investors.
At the 2020 conference, Jerome de Tychey, founder and chairman of Ethereum France, stated, "Over the next decade, we will continue striving to revitalize the industry and build meaningful connections within the community. We also emphasize our welcome to the global Francophone community to join the Ethereum ecosystem."
This year's EthCC will be held from July 17 to 20 local time. Since last month, tickets have been in high demand, and the event has expanded from three to four days. For both Ethereum developers and the broader crypto community, it is the most anticipated event following EDCON Montenegro.
Also worth noting in Paris is the DeFi Security Summit held on July 15. Following the resounding success of the first DeFi Security Summit at Stanford, the second summit will now convene in Paris, France.
Over two days, attendees will hear leading global DeFi security researchers, auditors, and hackers share their unique methodologies. As a world-leading blockchain security company, Beosin will not miss this opportunity to stay ahead of industry trends—our security experts are on-site to engage with the community.
Over the past year, new DeFi hacks have emerged relentlessly. According to Beosin’s Mid-Year Security Report, losses in the first half of this year alone reached $600 million. Preventing and resolving these attacks is critical not only for protecting existing users but also for the healthy development of the entire DeFi market. We look forward to the DeFi Security Summit offering fresh insights and innovations for today’s global DeFi landscape.
On-site at the DeFi Security Summit
Will Paris—the City with an Innate Fashion Identity—Perfectly Fuse with the Web3 World?
In a March report, Vogue Business highlighted how Paris has become the ideal fusion point between fashion and the Web3 world. Just before the opening of Paris Fashion Week this March, the NFT industry conference NFT Paris still drew global audiences to discuss the future of fashion. The coexistence of NFT Paris and Paris Fashion Week signals the city’s unique ability to attract convergence between Web3 and fashion. Paris has established a distinctive position in bridging luxury fashion and technology industries, even providing early sentiment indicators during the cryptocurrency bear market.
At NFT Paris, venture capital firm A16Z hosted a dinner for industry leaders from luxury brands, NFTs, and investment circles. Executives from Balmain, Shopify, and Chanel joined Web3 founders like Pagotto and Leanne Elliott-Young from Rtfkt. Fashion brands embracing virtual art forms remain central to the event. For instance, Balmain partnered with Space Runners to launch a new Phygital sneaker NFT series, while Nike-owned RTFKT, a digital fashion brand, teamed up with Ledger, the crypto hardware wallet maker, to release a capsule collection featuring all-white customized Ledger Nano S Plus and Nano X devices, available virtually with physical redemption options.
The popularity of these events reflects strong support from Paris and its government for cryptocurrency and blockchain. In fact, Paris has attracted many prominent crypto companies and organizations such as ConsenSys and Ledger. As cryptocurrency and blockchain technologies continue to evolve, we have every reason to believe Paris will remain a key player in this field.
Web3 Crypto Institutions "Rooted" in Paris
After conducting research, Beosin found that Paris is highly supportive of the crypto ecosystem and innovation, with several top-tier Web3 companies choosing Paris as their headquarters:
1. Ledger Hardware Wallet
Founded in 2014, Ledger began manufacturing hardware wallets, launching products such as the Ledger Nano series, and introduced the Ledger Live app to offer users services including buying, transferring, and lending cryptocurrencies. In 2021, Ledger raised $385 million in a Series C round at a $1.4 billion valuation, followed by an additional $108 million in Series C funding this year, backed by institutions including 10T, Cathay Innovation, and DCG.
2. Flowdesk
Founded in 2020, Flowdesk is registered with the French Financial Markets Authority (AMF) and the Prudential Supervision and Resolution Authority (ACPR). It primarily provides market-making services for cryptocurrency exchanges and DeFi projects, currently serving over 85 exchanges. Additionally, Flowdesk offers digital asset management, brokerage, and custody services. In 2022, Flowdesk raised $30 million in a Series A round, with participation from Coinbase, Ledger, Eurazeo, Aglaé Ventures, ISAI, Speedinvest, Fabric.vc, and angel investors.
3. Kaiko
Founded in 2014, Kaiko provides institutional firms, DeFi, and Web3 enterprises with market data, portfolio solutions, interest rates and indices, pricing services, DeFi data, and research covering over 95% of global trading volume. Its clients and partners include Deutsche Boerse, ICE Global Network, Messari, and Paxos. In 2021, Kaiko raised $24 million in a Series A round led by Anthemis and Underscore. In June 2022, Kaiko secured $53 million in a Series B round led by Eight Roads, with participation from French VC firms Revaia, Alven, Point Nine, Anthemis, and Underscore.
4. ACINQ
Founded in 2014, ACINQ focuses on Eclair Lightning Network deployment and mobile wallet applications, developing Lightning Network payment APIs for merchants. In 2015, ACINQ began researching Bitcoin’s Lightning Network. By 2017, it developed its own Lightning Network protocol—Eclair—and launched the corresponding Lightning wallet. In 2019, ACINQ completed an $8 million Series A round led by Idinvest Partners, with Serena and French public investment bank Bpifrance participating. Subsequently, ACINQ launched Phoenix, its second-generation self-custody Lightning wallet, making Lightning payments more accessible to users.
Beyond these companies, Web3 project teams such as Morpho Labs, Aleph.im, Pianity, and ParaSwap are also based in Paris.
Paris’s Regulatory Policies and Future Outlook
A crypto-friendly city can be defined as one actively establishing legal frameworks where cryptocurrencies can thrive, while enhancing consumer confidence and reducing fraud risks. While many countries scramble to adapt to the rapidly evolving decentralized finance world, France emerged early as a frontrunner.
In April 2019, the French National Assembly passed the PACTE (Action Plan for Business Growth and Transformation) law to boost the French economy. The bill includes a chapter on digital assets, establishing a legal framework for crypto service providers and initial token offerings. Key components include:
1. The French Financial Markets Authority (AMF) oversees crypto asset regulation.
2. ICO issuers meeting specific criteria may apply to AMF for issuance approval.
3. Issuers, trading platforms, custodians, and investors of regulated crypto assets must pay taxes on profits earned.
4. Two types of funds may invest in digital assets: professional crypto asset investment funds and professional private equity funds.
Clearer regulatory policies provide legal clarity, supporting growth in France’s crypto sector and job creation. This regulatory framework demonstrates the French government’s relatively open stance toward blockchain and crypto industries.
In May this year, the EU adopted the Markets in Crypto-Assets Regulation (MiCA), published in the Official Journal of the European Union (OJEU) on June 9. This will create a unified virtual asset market spanning 500 million consumers and 27 EU member states. MiCA will officially take effect on December 30, 2024, after an 18-month transition period.
MiCA is part of the EU’s broader Digital Finance Strategy, harmonizing rules across EU member states regarding: transparency and disclosure requirements for crypto asset issuance and trading; authorization and supervision of crypto asset service providers and issuers; operational, organizational, and governance rules for Asset-Referenced Tokens, Electronic-Money Tokens, and other crypto service providers; consumer protection; and measures against market abuse and ensuring market integrity. Overall, MiCA regulates: (1) various crypto assets, including E-Money Tokens, Asset-Referenced Tokens, and other tokens; and (2) various crypto asset services and service providers, including wallet custody, on/off-ramping, exchange, asset management, and investment advisory services.
As one of the few European countries that began regulating crypto before MiCA, France announced it will provide an accelerated pathway for crypto firms already registered in France to comply with stricter MiCA rules—including enhanced governance, consumer protection, and financial stability standards. Under MiCA, companies already registered in France will receive an additional 18 months to meet these stricter requirements.
While actively promoting virtual asset business development, France remains committed to strict oversight of related activities to ensure consumer and market safety.
Recently, the Paris prosecutor’s office confirmed that Binance France is under investigation by local authorities for allegedly providing digital asset services “illegally” and engaging in “serious money laundering.” However, Binance CEO and founder CZ responded on Twitter: "In France, surprise inspections of regulated businesses are normal. Binance France is fully cooperating with the investigation. Binance isn’t the only crypto firm being inspected—this also happens to other well-known crypto companies in Paris."
Clearly, while the French government supports crypto investment and trading, it maintains rigorous oversight of the virtual asset market.
Final Thoughts
Among countless fictional and nonfictional works about Paris, A Moveable Feast stands as one of the most famous. Its dedication on the title page—"If you are lucky enough to have lived in Paris as a young man, then wherever you go for the rest of your life it stays with you, for Paris is a moveable feast"—has become Paris’s “cultural calling card,” widely quoted and celebrated.
Now, as crypto becomes Paris’s new “label,” what transformations and innovations will the city undergo? Only time will tell.
Disclaimer: As a blockchain information platform, the articles published on this site represent the authors’ and guests’ personal views and do not reflect the positions of Web3Caff. All information provided is for reference only and does not constitute any investment advice or offer. Please comply with the laws and regulations of your respective country or region.
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