Month: September 2023

Former Andreessen Horowitz Executives Raise $25M for New Web3 Startup 

Bastion plans to use the funds to scale its operations, attract top engineering talent, and secure additional licensing to diversify its product offerings. Bastion, a newly launched Web3 startup co-founded by two former executives from Andreessen Horowitz‘s digital assets venture division a16z Crypto, has secured $25 million in a seed funding round despite recent challenges in the venture capital landscape. In an official press release on September 18, the company announced that its former employer, a16z Crypto, led the funding round. The round also included investments from prominent companies, including…

Standard Chartered’s Zodia Custody Crypto Custody Firm Begins Offering Yield on Crypto Holdings

Zodia Custody will now offer yield on digital assets to institutional clients in addition to providing its custody services. Zodia Custody, a leading crypto custody platform owned by banking giant Standard Chartered, will start providing yield on crypto holdings owned by its institutional clients. To bring this to fruition, Zodia Custody has partnered with OpenEden, a Singapore-based startup that brings real-world assets to the blockchain. Zodia Custody will use this partnership to connect digital assets held in custody by institutional clients to yield opportunities in the real world. Zodia has…

What Happens To ARB Token Price After Unlocking?

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Arbitrum (ARB) is gearing up for a monumental token unlock scheduled for March 2024, poised to inject a staggering 1.11 billion ARB tokens, worth approximately $907 million at current market prices, into the cryptocurrency market. Token unlocks refer to the release of previously restricted or vested tokens into circulation. These events often have significant consequences on the price and sentiment surrounding a cryptocurrency.  They can introduce inflationary pressure into the market and act as bearish catalysts, causing traders to closely monitor their schedules. 🌟 Is anyone curious about the pre/post-unlock…

Tether authorizes $1B USDT to “replenish” Tron network

Accounts monitoring blockchains for major mints, trades and token transfers have flagged a $1 billion authorization of USDT in Tether’s Treasury that is set to provide near term USDT liquidity for the Tron network. Blockchain tracker WhaleAlert highlighted the $1 billion authorisation on X (formerly Twitter), which drew a quick fire response from Tether CTO Paolo Ardoino who said that the USDT tokens would be used as inventory to “replenish” the Tron network. Ardoino added that the event was an authorization and not an actual issuance, with the allocated amount set…

The SBF Trial: How Did We Get Here?

Sam Bankman-Fried stands accused of committing wire fraud and conspiracy to commit several other types of frauds. His once-mighty crypto exchange, FTX, collapsed in dramatic fashion nearly a year ago, shedding billions in value. And in two weeks, he’ll begin his effort to convince a jury of his peers that he didn’t commit any of many alleged crimes while running the company. Source

German crypto regulator calls for global rules to also govern niche finance centers

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While the European Union has made significant progress toward regulating crypto by approving its comprehensive framework, Markets in Crypto Assets (MiCA), the need for global regulation still remains, according to one of the top executives of the German Federal Financial Supervisory Authority (BaFin).  In a blog post on Sept 18, Rupert Schaefer, Executive Director of Strategy, Policy and Control at BaFin, highlighted the importance of unitary global regulation of the crypto industry. Citing the unfortunate example of the FTX, Schaefer compared regulators to air traffic control, and “some crypto assets…

X Moving toward Charging Small Fee for Using Platform

The amount to be charged has not been revealed. Currently, the X platform has 550 million monthly users who generate 100 to 200 million posts every day. On Monday, tech billionaire Elon Musk had a conversation with Israeli Prime Minister Benjamin Netanyahu. The discussion was mostly about the theoretical risks of artificial intelligence technology and AI regulation. During the talks, Elon Musk also shared his plans for the upcoming future and revealed that the X platform (formerly Twitter) is “moving to a small monthly payment” for the use of its services. As…

Google and DoD Join Efforts to Build AI-Powered Microscope

The estimated cost of ARM for health systems is between $90,000 to $100,000. Notably, the Department of Defense and Google aim to make this technology more widely accessible, particularly for smaller health systems that may not have enough resources for full-scale digitization. Google LLC and the US Department of Defense (DoD) have collaborated to build an AI-powered microscope that will be able to identify cancer cells. Called an Augmented Reality Microscope, or ARM, the tool has been already successfully tested under the supervision of pathologist Dr. Nadeem Zafar at a VA hospital…

Shiba Inu Gearing Up For A 60% Surge? Key Indicators To Watch

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Shiba Inu (SHIB) continues to be in a pivotal make-or-break moment. As described in our last in-depth price analysis of SHIB, two chart patterns on the 1-week chart could continue to determine the future of SHIB price, and their outlooks could not be more different. We are talking about a bullish triple bottom that points to a possible end of SHIB’s two-year downtrend and a descending triangle that has been formed for over 13 months, indicating a bearish trend. Shiba Inu Price Analysis: Update At the moment, the bulls seem…

Short-term Bitcoin holders reel as almost all sit in losses

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With almost all short-term Bitcoin holders now underwater, a “degree of panic is dominating this group,” Glassnode says. The Bitcoin (BTC) market sentiment has shifted towards the negative for the first time since the end of 2022. Almost 98% of short-term holders (STH) supply is now held at a loss, Glassnode revealed in a recent report. The market is now at the deepest level since FTX collapsed. The analysts add that the cost basis of those investors who are spending crypto at current levels fell below the cost basis of…