Day: April 4, 2023

Dragonfly Capital invests $10M in Bitget amid industry recovery

Dragonfly Capital has invested $10 million in cryptocurrency derivatives exchange Bitget, the San Francisco-based venture capital firm announced on April 4. The funds will be used to support Bitget’s ongoing global market and service expansion and upcoming corporate social responsibility initiatives directed at crypto education and adoption. Bitget disclosed that since its inception in 2018, the exchange has grown to comprise over 80,000 traders and 380,000 copy traders, or individuals that sync their trading positions with that of traders using automation. For its 2023 roadmap, Bitget plans to expand its spot…

Crypto Startup Li.Fi Raises $17.5M in Series A Funding

Li.Fi said that the fundraise will help them execute their long term strategy of getting more users into the Web3. In the latest development, Li.Fi – the multichain liquidity and data gateway provider – raised a total of $17.5 million in Series A fundraise co-led by crypto native investment firms Superscrypt and CoinFund. This fundraise comes at a time when the global macro environment is uncertain and liquidity has been drying up. Li.Fi Series A Funding Li.Fi said that the fundraise will help them execute its long-term strategy. The crypto…

Tesla (TSLA) Shares Plummet 6% Following Lower than Expected EV Deliveries

According to the company, it has plans to produce a total of 1.8 million vehicles with the total delivery expectations pegged around that figure. American multinational electric vehicle manufacturing company Tesla Inc (NASDAQ: TSLA) recorded a bearish close of its stock on Monday following the publication of its first quarter delivery numbers. The figures, unveiled over the week showed the company delivered a total of 422,875 electric vehicles in the quarter with a total production of 440,808 cars. The delivery figures were below the target projected by analysts polled by…

ICO fines TikTok £12.7 million for misusing children’s data

More than one million UK children under 13 estimated by the ICO to be on TikTok in 2020, contrary to its terms of service. Personal data belonging to children under 13 was used without parental consent. TikTok “did not do enough” to check who was using their platform and take sufficient action to remove the underage children that were. The Information Commissioner’s Office (ICO) has issued a £12,700,000 fine to TikTok Information Technologies UK Limited and TikTok Inc (TikTok) for a number of breaches of data protection law, including failing…

Enter the Reverse Repo Facility – Economics Bitcoin News

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The U.S. Federal Reserve could be competing with commercial banks due to a facility called the “overnight reverse repurchase agreement facility,” which has currently drawn in more than $2 trillion in deposits. According to analysts, this has affected bank deposits, as investors run to grab the higher yields it offers compared to traditional banks. The Federal Reserve ‘Reverse Repo’ Facility Is Affecting Banks’ Deposits, According to Analysts The recent banking crisis has made people worried about the security of the U.S. banking system, and while at a high level, some…

Google on Path of Multi-Year Saving by Cutting Employee Services and Other Goodies

Google’s chief of finance referred to the 2008 times when the expenses were growing faster than the revenue, and thus they have decided on an internal rejig in that regard. Big-tech companies across the globe have been cutting additional costs amid the tightening macro environment. Ruth Porat, Google finance chief, said in a companywide email that the company is making cuts to employee services. In a Friday email titled “Our company-wide OKR on durable savings,” Porat said that these are multi-year efforts. Furthermore, the tech giant is willing to cut…

Bitcoin is untouchable, analyst McGlone says

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According to senior commodities analyst Michael McGlone, bitcoin (BTC) is untouchable because it is more decentralized than other cryptocurrencies, such as ether (ETH). According to the Bloomberg senior commodities analyst, bitcoin is “untouchable” despite the continuous regulatory challenges in the cryptocurrency industry, and those who don’t have any exposure to the cryptocurrency market are “really foolish.” During a webcast on April 3 with crypto podcaster Scott Melker, McGlone stated that, unlike other cryptocurrencies such as ether, bitcoin could not be extinguished by authorities because it is more decentralized than other cryptocurrencies. US…

SEC to Organize Investor Education Events to Create Financial Literacy

US government agencies have been actively encouraging similar ideas associated with financial literacy since 2003 when April was formally appointed the National Financial Capability Month. The United States Securities and Exchange Commission (SEC) has revealed a series of education events focussing on underrepresented communities and others- but indicated that competitors should be educated to practice caution while using crypto. In an April 3rd announcement, the SEC disclosed that it would talk to communities including high school students, members of the military, investors along with native Americans to publicize financial literacy.…

What is Gods Unchained, and how to play it

The game-changing possibilities that blockchain spurs through immutability, tokenization and decentralization are immense. The technology has significantly expanded the scope of traditional trading and collectible card games by democratizing the ideals of ownership, scarcity, interoperability, transparency and play-to-earn (P2E).  The excitement factor of trading card games (TCG) — previously confined to school lunch tables and enthusiast get-togethers — has now truly gone global, thanks to blockchain gaming. Gods Unchained embodies the future of trading card gameplay. It taps into the rich world of marvelous mythical gods and their strengths and…