Kik, the instant messaging app, founded KIN in 2017 but was forced to pay $5 million settlement to the SEC. Source
Code Wallet Aims for Fresh Start on Solana After Messy Tale of Kik and KIN
Day: July 19, 2023
Crypto VCs share lessons on startup success at EthCC
When bringing a new crypto to market, the fastest way to do so is arguably with the help of venture capital (VC) financing. But such a high-risk, high-reward operation in a rapidly evolving field can carry a large degree of uncertainty. At the EthCC event in Paris, several prominent VCs decided to share their insight on which strategies have worked out for startups. For a successful launch, Ryan Barney, an investor at Pantera Capital, recommends founders “focus on the whales/VIPs,” or emphasize selling to an exclusive, affluent clientele as opposed…
SEC vs. Ripple: Huge win for crypto
In the latest episode of The Market Report, Cointelegraph analyst and writer Marcel Pechman discusses Ripple’s partial victory against the Securities and Exchange Commission and its impact on the crypto market. Although people traded based on emotion after headlines popped out, the next day, as investors could process what happened, the altcoins gave away half of the gains. On July 13, the United States District Court for the Southern District of New York ruled that Ripple’s XRP (XRP) token is not a security — but only for programmatic sales on…
New U.S. Senate Bill Wants to Regulate DeFi Like Banks
A new bill from Sen. Jack Reed would impose strict requirements on DeFi protocols under the guise of national security. Source
Crypto Infrastructure Builder RISC Zero Raises $40M Series A for Expansion
The funds will help RISC Zero bring its Bonsai computing platform to market. Other investors in the round included Galaxy Digital, IOSG, RockawayX, Maven 11, Fenbushi Capital, Delphi Digital, Algaé Ventures, IOBC, Tribute Labs’ Zero Dao, and Alchemy, according to a press release provided to CryptoX. Source CryptoX Portal
Polychain Capital Co-Leads $25M Fundraise for Manta Network Developer
“We are excited to see Manta expanding into the Ethereum ecosystem, and have doubled down on our investment this Series A round,” said Luke Pearson, Investor at Polychain Capital. “Manta Pacific will leverage the performance capabilities of the modular ecosystem, whilst also allowing increasing access to ZK through Universal Circuits,” he added. Source
AI opens doors for NFT artist Ellie Pritts at Bitforms gallery in NYC
This month, Los Angeles-based nonfungible token (NFT) artist Ellie Pritts is celebrating “In the Screen I am Everything,” her first solo show in New York City — and her first time taking over pioneering net art gallery Bitforms. Eight animations from the technicolor exhibition are available to mint as NFTs on Ethereum, displayed on screens alongside a few physical prints. The multilayered process Pritts used for all three series on view unites them across media. Pritts broke onto the NFT scene in 2021 when she tried minting a few existing…
Tokenizing music royalties as NFTs could help the next Taylor Swift – Cointelegraph Magazine
Since 2021, pop superstar Taylor Swift has been rerecording and releasing her entire back catalog of albums in an effort to break away from her previous record label and gain greater control over her art. The fact she has to go through such a painstaking, expensive process just to recover what most would consider rightfully hers highlights how the music industry can be a complicated, confusing place for young artists. It has a well-deserved reputation for being a space where enthusiastic musicians often unknowingly enter into unfavorable or exploitative record…
Nasdaq halts launch of cryptocurrency custody service
Global securities marketplace Nasdaq is halting the launch of its own cryptocurrency custody that it previously planned to launch by the end of the second quarter 2023. Nasdaq has suspended the launch of its digital asset custody business because of regulatory risks, the company announced during the Q2 results call. The firm noted that it remains committed to digital asset business development. Nasdaq will be closely monitoring the market for potential regulatory events over the next six months. As previously reported, Nasdaq initially announced its crypto custody project in September…
AI optimizing crypto exchange functions
Cryptocurrency exchanges are finding novel ways to improve internal departments and functions using artificial intelligence, according to Bitget managing director Gracy Chen. Speaking to Cointelegraph editor Zhiyuan Sun during EthCC in Paris, the exchange’s MD highlighted a number of ways in which the exchange is incorporating AI tools into everyday processes. Chen said that the company has actively asked its management team to give feedback on which AI tools and services they are using and experimenting with across departments. Related: Vitalik Buterin shares account abstraction challenges in Ethereum: EthCC AI has been…