Tag: 10M

Former FTX CEO Seeks $10M Insurance Fund for Legal Defense, Request Opposed by FTX Debtors and Unsecured Creditors – Bitcoin News

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Court filings reveal that the FTX co-founder is seeking access to a $10 million insurance plan to cover his attorney fees. FTX debtors and unsecured creditors have opposed Sam Bankman-Fried’s request, arguing that every dollar spent on his defense is “one less dollar” available to cover the losses of the debtors. FTX Debtors and Unsecured Creditors Oppose Sam Bankman-Fried’s Request for D&O Funds Sam Bankman-Fried (SBF), the former CEO of FTX, is seeking access to a $10 million legal insurance fund to cover his defense expenses. The filing notes that…

Radix Pulls $10M in New Funding to Top $400M in Valuation

Some of the solutions being developed on Radix include but are not limited to those hinged on dApps for trading, saving, lending, borrowing, gaming, NFTs, and wallets. Blockchain-based Web 3.0 startup Radix Token has announced it has raised the sum of $10 million in new funding as it continues to bolster its engagement to help chart the evolution of the blockchain ecosystem. According to a Press Release shared with Coinspeaker, the Radix funding was led by DWF Labs, one of the biggest players in the Web 3.0 world. “It is…

Crypto.com customer accused of $10M spending spree granted bail

The Crypto.com customer who was accidentally sent $10.4 million from the exchange in 2021 and then allegedly went on a spending spree has been granted bail despite $3.1 million funds still unaccounted for. In the Victorian County Court, prosecutors on March 20 tried to convince the judge that imprisonment would be the only way to ensure that the accused, Jatinder Singh, would not flee the country. The blunder by Crypto.com came about when a Bulgarian-based employee accidentally transferred $10.4 million to his account instead of what was meant to be a $100…

KuCoin Has Closed a $10M Funding Round Into CNHC. But Is the Offshore Yuan Right for a Stablecoin?

“This investment in CNHC is part of KuCoin Ventures’ broader strategy of investing in the Web3 infrastructure in the APAC region,” Justin Chou, chief investment officer of KuCoin and lead at KuCoin Ventures, said in a statement. “Hong Kong has a well-established traditional finance ecosystem. With the regulation and new policy for next-generation digital assets, Hong Kong has a real opportunity at becoming the new crypto center of the world.” Source 10MClosedCNHCfundingKuCoinOffshoreStablecoinYuan CryptoX Portal

KuCoin leads $10M funding for Chinese yuan stablecoin issuer

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The investment arm of major cryptocurrency exchange KuCoin is moving to support new stablecoin initiatives by backing a Chinese yuan-pegged stablecoin issuer. KuCoin Ventures has led a $10 million investment into stablecoin issuer and blockchain-based payment service provider known as CNHC. Announcing the news on March 16, KuCoin Ventures said that the funding round included some prominent industry investors, including KuCoin’s investor IDG Capital and Circle Ventures, the investment arm of the USD Coin (USDC) issuer, Circle. KuCoin chief investment officer and KuCoin Ventures lead Justin Chou told Cointelegraph that…

KuCoin Has Closed a $10M Funding Round Into CNHC, but Is the Offshore Yuan Right for a Stablecoin?

“This investment in CNHC is part of KuCoin Ventures’ broader strategy of investing in the Web3 infrastructure in the APAC region,” Justin Chou, chief investment officer of KuCoin and lead at KuCoin Ventures, said in a statement. “Hong Kong has a well-established traditional finance ecosystem. With the regulation and new policy for next-generation digital assets, Hong Kong has a real opportunity at becoming the new crypto center of the world.” Source

ORBS Token Rises After DWF Labs Invests $10M

Founded in 2017, Orbs offers public blockchain infrastructure that provides scalability, low transaction fees, fast performance, security and ease of use. The platform is meant for mass-use applications that could run into high fees and slow throughput, and can serve as the back-end for a full blockchain technology stack. The mainnet and ORBS token were launched in early 2019. Source

Republic Crypto Denies Buying 10M ASTRA Tokens, Says Astra Gave Tokens to It as Part of a ‘Free Trial’

CoinDesk, citing a press release from Astra Protocol, reported on March 7 that Republic purchased the tokens. A Republic spokesperson subsequently said the firm had viewed and objected to the details in the draft press release, which was sent out regardless, and said the release contained an unauthorized quote from Republic crypto head Andrew Durgee, which Durgee didn’t draft. Source