The company raised $85 million in an equity round and $300 million in debt financing. Source
Crypto Mining Data Center Provider Compute North Raises $385M
Day: February 9, 2022
Religious services move to metaverse amid COVID-19 concerns
Many religious denominations now offer interactive digital locations to supplement traditional services, but unique to COVID-19 is the opportunity to experience spirituality in an immersive 3D environment through virtual reality (VR) technology. As per a report by NZ Herald, Garret Bernal and his family were reportedly absent from a recent Sunday service during their quarantine for COVID-19 exposure. So he donned a VR headset and tried praying in the metaverse. He was instantly transported to a three-dimensional virtual realm of pastures, cliffs and rivers as the representative of a pastor…
Crypto Fund Inflows Follow Pickup in Market Sentiment
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Animoca in Talks for Infusion From KKR as Funding Round Swells to $500M: Report
Global investment company KKR is in talks to join Animoca Brands’ latest financing, taking its funding from the round to around $500 million. Source
Bitfinex hack recovery spurs crypto community responses
On Feb. 1, there were movements of around $2.5 billion from the 2016 Bitfinex hack wallets. After reviewing the transactions, Cointelegraph reported that around 90,000 Bitcoin (BTC), worth $3.6 billion, consolidated into one wallet address. More than a week later, the hackers were caught. The United States Department of Justice seized $3.6 billion in crypto and arrested two suspects connected to the 2016 hack. Alleged hackers Ilya Lichtenstein and Heather Morgan were apprehended after federal authorities exercised their ability to “follow the money through the blockchain” according to the DoJ. While some…
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BofA Says Bitcoin Trades More as Risk Asset, Less as Inflation Hedge
Bitcoin’s volatile price means it is unlikely to be adopted as an inflation hedge by investors in developed countries. Original
Bitcoin Lightning Network growth capacity plateaus at 3,400 BTC
Following an exponential climb in capacity over 2022, the Bitcoin (BTC) Lightning Network made a lackluster start to the new year. According to a report by Arcane Research, growth in the Lightning Network capacity, or the number of BTC locked up in channels, has stuttered. The Lightning Network surged from 1,000 to 3,000 BTC in just 8 months in 2021, striking the 3,000 BTC mark in mid-October. While the network continues to strike all-time highs, growth grinds down. The total BTC locked in the network is peaking just shy of…
New Alfa Romeo SUV uses NFT and blockchain to track car records
Italian carmaker Alfa Romeo has unveiled its latest vehicle, the Tonale SUV. The firm claims that it is the first in the industry to connect each vehicle to its own blockchain-based token, which can keep track of the car’s whole life cycle. One of the most distinctive features of this SUV is that each car is linked to an accompanying NFT. The Tonale NFT, according to Alfa Romeo, certifies a car upon purchase and then simply records and keeps data during the vehicle’s lifespan. Francesco Calcara, Alfa’s head of global…
JPMorgan estimates ‘fair value’ of Bitcoin at $38K
Amid Bitcoin (BTC) posting a significant price recovery since early February, JPMorgan analysts suggested that the “fair value” of BTC is actually lower than its market price on Tuesday. The current fair-value level for BTC is around $38,000, JPMorgan strategists said in the bank’s latest investor note published on Tuesday. Led by JPMorgan crypto market analyst Nikolaos Panigirtzoglou, the strategists estimated the “fair value” based on Bitcoin being nearly four times as volatile as gold. The “fair value” of Bitcoin would rise to $50,000 in a scenario where the volatility level…