Month: January 2023

Hong Kong investment fund raises $500M to push mass adoption in Web3

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Despite the ongoing crypto winter, which has affected many businesses in the greater Web3 space, investments continue pouring into the space. On Jan. 17, Hong Kong-based global asset manager HashKey Capital announced the closing of a $500 million investment round for its FinTech Investment Fund III. According to the company, Fund III will be used to invest in infrastructure, toolings and applications that will help push the mass adoption of blockchain and crypto technologies. Speaking with Cointelegraph, Xiao Xiao, investment director at HashKey Capital, said the synergies in the Web3…

Morgan Stanley Posts Q4 2022 Report, Receives Huge Boost from Wealth Management Revenue

New York banking powerhouse Morgan Stanley has posted its Q4 2022 financial report, which reveals mixed results. Morgan Stanley (NYSE: MS) recently posted its Q4 2022 earnings report, surpassing consensus estimates. The New York-based banking giant received a significant boost in its latest quarterly bottom line from record wealth management revenue. For Q4 2022, Morgan Stanley reported a revenue haul of $12.75 billion compared to the $12.64 billion Wall Street analysts expected. In addition, the leading bank’s earnings per share (EPS) for the period ended December 31st came in at $1.31 after…

HashKey Capital Raises $500M for 3rd Crypto Fund

Launched in 2018, HashKey Capital manages over $1 billion in assets. Portfolio companies include blockchain firm Cosmos, layer 2 network Aztec, blockchain-infrastructure firm Blockdaemon and gaming and crypto venture firm Animoca Brands. HashKey operates in Hong Kong and Singapore, with a presence in the U.S. and Japan. Source

Here’s Why $22.4k Could Be Next Level To Break For Bitcoin

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As Bitcoin continues its strong rally, $22,400 could be the level to watch next, if this on-chain metric is anything to go by. Bitcoin Long-Term Holder Realized Price Is Currently Around $22,400 According to the latest weekly report from Glassnode, BTC broke through all three realized prices of the market back in April 2019. To understand the concept of “realized price,” the realized cap needs to be looked at first. The realized cap is a capitalization model for BTC that values each coin in circulation at the price it was…

How to resurrect the ‘Metaverse dream’ in 2023 – Cointelegraph Magazine

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2022 was the year the wheels fell off the metaverse bandwagon, which had been the most hyped narrative as the year began. By far the worst-performing sector in blockchain, the average drawdown was 89%. Even Facebook’s grand plans to dominate the metaverse are in disarray; it’s losing more than $1 billion a month, while the flagship “Horizon Worlds” attracts fewer than 200,000 users per month. But amid all the gloom, there are still miles of runway left from unprecedented fundraising and signs from The Sandbox, play-to-earn games and niche metaverse…

Algorand TVL Hits $177 Million As Altcoin Rally Continues

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Algorand is one of the fastest growing crypto in terms of gains. According to CoinGecko, the token has appreciated by 30% in the last two weeks. With the broader crypto market rallying as Bitcoin breaks its crucial $21,000 resistance, ALGO is set to gain more in the next few days.  The Total Value Locked department is where the ecosystem gained the most. According to DeFiLlama, Algorand’s TVL yesterday hit $177 million in value. This uptick in TVL is a bullish indicator that the ecosystem still has the momentum to reach…

Ethereum Nears $1,600 Level – Is The $2K Mark Hittable This Week?

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The improving sentiment in the crypto market certainly made recovering lost ground from the bear market easier. Ethereum, the top altcoin, has been breaking barriers since the start of the year. According to CoinGecko, the coin is trading at $1,588 and has gained 20% in the past week, with the biggest gains being recorded at the monthly time frame at 32%.  Ethereum recently generated buzz as news of the ecosystem’s Shanghai network upgrade hit the market. According to the Ethereum Foundation, the network upgrade would add new features on the…