The funding was revealed in a filing with the U.S. Securities and Exchange Commission (SEC) and the details, including Arca’s participation, were confirmed by Sortium CEO Marc Seal in an interview with CoinDesk. Seal didn’t specify who the other investors were, but said the group included other crypto-native firms. Source
Web3 Studio Sortium Raises $7.8M in Seed Round The funding was revealed in a filing with the U.S. Securities and Exchange Commission (SEC) and the details, including Arca’s participation, were confirmed by Sortium CEO Marc Seal in an int CryptoX Portal
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. The DeFi ecosystem started 2023 on a bullish note, similar to the broader cryptocurrency market. However, the bullish start to the year didn’t diminish the damage caused by vulnerabilities and attacks in 2022. A new research report has highlighted that DeFi was the most vulnerable crypto ecosystem, at the receiving end of 113 exploits out of the total 167. On top of that, blockchain…
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Less than 48 hours after a raid on cryptocurrency lender Nexo’s offices in the Bulgarian capital of Sofia, prosecutors have reportedly charged four people. According to a Jan. 13 report by Bloomberg, authorities charged four Bulgarian nationals with forming an organized crime group, which may have included activities related to money laundering and unlicensed banking. The country’s National Police Service reportedly seized a number of assets as part of the investigation, including cryptocurrency, cash, and computers. Following the Jan. 12 raid, Nexo described prosecutors’ actions as a “kick first, ask…
CHZ is a cryptocurrency that was created in 2019 as a fork of the Ethereum blockchain. It is an ERC-20 token, meaning that it is built on top of the Ethereum network and follows the Ethereum token standard. CHZ is the native token of the Chiliz platform, which is a sports and entertainment blockchain platform that allows fans to engage with their favorite sports teams and celebrities through tokenized experiences. One of the main goals of the Chiliz platform is to bring blockchain technology to the sports and entertainment industry…
Given those factors, just the modestly good news for bitcoin sent the sector’s shares exploding higher. Marathon Digital (MARA) has gained 79% this week, Hut 8 Mining (HUT) added 49% and Bit Digital rose 41%. As for Riot, it’s ahead just 27% this week, perhaps punishment for giving up “blockchain” in its name. Original
Now, it’s true that many people of color bought crypto in recent years and that, by extension, many have lost money on account of Celsius Network, FTX, Voyager Digital, et al. But there’s a subtext to Garcia’s comment – whether or not he consciously intended it – that patronizingly paints certain communities in the U.S. and elsewhere as ill-informed and vulnerable, denying them agency and blindly missing a bigger story of empowerment. Source
The Monero price has rallied over the past week since the broader market recovered. Over the last 24 hours, XMR was consolidating despite its weekly gains. The coin traded laterally over the past few sessions before it started to dip on its chart. As momentum halted recently, it is still uncertain whether XMR will resume its upward price movement. The technical outlook of the coin continued to side with the bulls despite lateral trading. Accumulation remains high on the chart despite a downtick in demand over the last trading sessions.…
Bitcoin (BTC) mining company Bitfarms has unveiled plans to modify an existing loan agreement with BlockFi — a move the company said would reduce its indebtedness amid the bear market. On Jan. 13, Bitfarm disclosed that it is working with creditors to modify a loan agreement for Backbone Mining Solutions, or BMS, which owns and operates Bitfarms’ 20-megawatt mining facility in Washington state. BMS received a $32 million equipment financing loan from Bitcoin lender BlockFi in February 2022. The loan was secured against existing BMS assets, including its miners and…