Month: July 2022

Venture Capital Firm NFX Adds $62.6M in Follow-On Investments, Including Crypto Companies

Beller co-created Facebook’s libra stablecoin project (the company is now Meta and libra, renamed diem, was recently shut down) before joining NFX in September 2020. The company’s Fund III – which has more of a focus on crypto investments than Fund II – launched shortly thereafter. Fund III capital has been deployed to “numerous great startups at the intersection of crypto, [decentralized finance], blockchain infrastructure, Web3 gaming and more,” said Beller. Source

Rockefeller Investment Company Bullish Against Bitcoin

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io One of the leading US investment firms, Rockefeller, has expressed a bullish view of Bitcoin (BTC). In the midst of the bearish crypto market, the optimistic view of crypto assets in the long term is increasing from business activists and observers. According to Finbold’s report, the chairman of investment firm Rockefeller, Ruchir Sharma, has expressed a bullish view of the major crypto assets. According to him, Bitcoin has controlled the current bearish crypto market, so the future looks brighter. In addition, Sharma…

Bitcoin NUPL Shows Average Holder Back In Profit, But For How Long?

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On-chain data shows the Bitcoin NUPL metric is back to a positive value, suggesting the market as a whole is back in profit. Bitcoin NUPL Latest Trend Could Signal The Bottom Is Already In As pointed out by an analyst in a CryptoQuant post, the BTC NUPL breaking above the neutral market may be a sign that the bottom has set in. The “Net Unrealized Profit/Loss” (or “NUPL” in short) is an indicator that’s defined as the difference between the market and realized caps, divided by the market cap. In…

DeFi Incubator Cumberland Lab Comes Out of Stealth Mode

“So legally, we’re a different company,” he said. “We have our own management, we make our own decisions. Having said that, we do benefit from the wisdom of our founders, but the idea is that we will be incubating and launching our own projects that will go out into the world, and not necessarily become captive projects for the DRW or Cumberland.” Source

What Tesla’s bitcoin sale means for the crypto outlook

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On Wednesday night Tesla reported in its second-quarter earnings that it sold 75% of its bitcoin holdings for $936 million. The company said it was to maximize its cash position amid Covid-related uncertainty in China. But the move comes about 18 months after the company shocked the financial markets by buying $1.5 billion worth of bitcoin, saying at the time in a filing that it believes in crypto’s “long-term potential” both as an investment and as a liquid alternative to cash. Bitcoin’s price subsequently rallied to its all-time high of…

Bulls or bears? Both have a fair chance in Friday’s Bitcoin options expiry

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Bitcoin (BTC) briefly broke above $24,000 on July 20, but the excitement lasted less than two hours after the resistance level proved more challenging than expected. A positive is that the $24,280 high represents a 28.5% increase from the July 13 swing low at $18,900. According to Yahoo Finance, on July 19, Bank of America published its latest fund managers survey, and the headline was “I’m so bearish, I’m bullish.” The report cited investors’ pessimism, expectations of weak corporate earnings and equity allocations at the lowest level since September 2008.…

Coinbase Criticizes SEC for Ineffective Cryptocurrency Regulations

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Jason Calacanis Is Right About ‘Grifting’ Crypto VCs (but Confused)

Now, Jason is not Chamath. Mere association doesn’t mean Calacanis bears responsibility for his colleagues’ potentially fraudulent activity (former PayPal exec David Sachs, also a cohost of Calacanis’ “All In” podcast, was also a backroom SOL buyer). Calacanis is also largely right in saying that a vast number of crypto tokens are outright scams, or at the least risky “prelaunch companies” that should come with more disclosures. Source

Zipmex Confirms Loans Worth $53M to Babel and Celsius

“Ever since the black swan events surrounding the crypto space, Zipmex has retrieved the majority of our funds and assets that were historically deposited with our deployment partners and have been actively working to resolve the situation for the remaining outstanding assets,” according to the statement. Source