Tag: 12M

Cross-Chain Protocol PNetwork Loses $12M in Hack

PNetwork, a decentralized finance (DeFi) system that allows different blockchains to communicate with each other, said it lost 277 bitcoins ($12 million) after an attacker found a bug in its code. The attack targeted its pBTC token on Binance Smart Chain, pNetwork said in a tweet. Bridges to other blockchains weren’t affected. The company said that it had identified the bug and fixed it. PNetwork offered a $1.5 million bounty to the hacker if the stolen funds are returned. “Finding vulnerabilities is part of the game unfortunately, but we all…

Libra Co-Creator’s VC Firm Co-Leads $12M Round in ‘Decentralized GitHub’

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In retrospect, it was inevitable: A team of blockchain developers has forked GitHub and come up with a system for collaborating on open source software. There’s even a decentralized finance (DeFi) twist. Announced Thursday, Radicle, a fully decentralized code repository, has raised $12 million in funding, integrated its peer-to-peer network with Ethereum and launched the RAD governance token.  The funding round was led by NFX and Galaxy, with participation from Placeholder, Electric Capital and ParaFi Capital; Naval Ravikant, Balaji Srinivasan and Meltem Demirors were also involved. Notably, it’s the first…

Synthetix Raised $12M in Funding Round Led by Coinbase Ventures and Paradigm

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The fundraising round of Synthetix is the first time when the project directly governed by a DAO raises funds. Investing in Synthetix, Coinbase Ventures, Paradigm, and IOSG are bringing something valuable to the project.  One of the largest token trading platforms Synthetix has raised as much as $12 million from Coinbase Ventures, Paradigm, and IOSG. According to the company, it will use the funds to provide liquidity as SNX collateral through the purchase of SNX tokens that will “participate in its rapidly evolving community governance system”. Paradigm investment partner Arjun…

Bloccelerate VC Raises $12M Fund to Bet on Enterprise Blockchain Adoption

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Seattle-based venture capital firm Bloccelerate closed a $12 million fund on Nov. 30 to bet on both enterprise blockchain adoption and Ethereum-based financial applications. The firm’s general partners, Kate Mitselmakher and Sam Yilmaz, told CoinDesk in a call that the fund will allocate 80% of its equity investing in the infrastructures enabling enterprise adoption, with examples like trading platforms, custody solutions, wallets and insurance providers. The other 20% will be invested in tokens of protocols. “The last 10 years of blockchain were primarily about the adoption of cryptocurrencies in the…

Singapore Blockchain Innovation Program Kickstarts with $12M from Government

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As part of the SBIP initiative, the Singaporean government plans to engage with nearly 75 companies and other multinational corporations. Besides, it aims at simultaneously supporting the country’s talent pool for all blockchain developments. The Singapore government is taking bold measures and initiatives to expand research and development in the country’s blockchain landscape. Earlier today, December 7, a group of Singaporean agencies announced the launch of the new Singapore Blockchain Innovation Program (SBIP). This new project is a collaboration between Infocomm Media Development Authority, Enterprise Singapore, and the National Research…

DeFi protocol 1inch closes $12M funding round led by Pantera Capital

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The team behind the 1inch protocol, which combines an automated market maker protocol and an aggregator for other DEXs, announced on Wednesday a successful Series A round for $12 million. Pantera Capital, a major venture fund active in the cryptocurrency space, led the round. A total of ten other funds joined in the round, including: ParaFi Capital, Nima Capital, LAUNCHub Ventures, Spark Capital, gumi Cryptos, Fabric Ventures, Struck Capital, Rockaway Blockchain Fund, Spartan Capital Securities and Blockchain Capital. Three business angels also participated in funding, including Josh Hannah, partner at…

Blockchain Startup OXIO Raises $12M to Advance Its Telecom-as-a-Service Model

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Besides registering its mark as a tokenized data services provider, OXIO blockchain also seeks to help take the adoption of the service mainstream. New York-based blockchain startup OXIO has announced that it has secured a $12 million Series A funding round led by Atlantico Capital, Monashees as well as Multicoin Capital and Fintech Collective. According to a Coindesk report, this brings the total amount of funds raised by OXIO to about $20 million from the end of 2019 to date. OXIO is a tech startup renowned for building one of…

Blockchain Startup Raises $12M Series A to Turn Brands Into Cellular Networks

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OXIO wants to use blockchain to make “Telecom-as-a-Service” as common as SaaS. To that end, the New York-based startup is announcing Tuesday a $12 million Series A funding round, led by Brazilian VC monashees and Atlantico Capital, with participation from FinTech Collective and Multicoin Capital. It takes the firm’s total fundraising to $20 million since late 2019. OXIO allows big brands to offer telco-type services by turning mobile data into a tradeable digital asset using tokens on blockchains. Tokenized data packages will be particularly useful in emerging markets like Mexico…