Singapore venture firm launches $100M Web3 and metaverse fund

Crypto-focused venture firm NGC Ventures has launched a new ecosystem fund dedicated to Web3 projects, underscoring heightened investor demand for startups that are contributing to the development of a decentralized internet.  NGC Metaverse Ventures, the company’s third blockchain fund, raised $100 million from investors that included Babel Finance, Huobi Ventures, Nexo Ventures, Altonomy and GBIC. The fund will allocate capital towards “high-potential projects” in the Web3 economy, according to Roger Lim, NGC Ventures’ general partner. The Web3 fund has already invested in three startups, NGC disclosed on Wednesday. Based in…

Top US Exchange Coinbase Becomes First Crypto Firm To Be Listed on Fortune 500

Leading US exchange Coinbase has earned billions in revenue to become the first crypto company to break into the Fortune 500. Coinbase Global (COIN) grossed over $7.8 billion in revenue in 2021, placing COIN at #437 on Fortune’s ranking of the 500 largest US companies by revenue. Coinbase is the first crypto firm to join the list, published on Monday, and was first listed on the Nasdaq in April 2021. Fortune editor-in-chief Alyson Shontell says Coinbase was one of a few “pandemic winners” who managed to profit despite the “freakish circumstances” of…

Japan’s Bitbank to set up a custody firm to facilitate institutional entry to local markets

In a new development for East Asia, Japanese crypto exchange Bitbank announced a partnership with financial holding company Sumitomo Mitsui Trust Holdings with the goal of establishing Japan Digital Asset Trust (JADAT).  According to an announcement sent to Cointelegraph on Tuesday, JADAT will be created to offer custodial services along with auditing and wallet insurance. The company is designed to facilitate the entrance of institutional players into the Japanese digital asset market. Once established, the firm will specialize in custody services for digital asset holdings including cryptocurrency, security tokens on…

Swiss Crypto Firm Launches Venture Fund, Supporting African Early-Stage Blockchain Startups

Crypto Valley Venture Capital (CV VC), a Switzerland-headquartered private venture capital company, announced on Monday that it has launched African Blockchain Early-Stage Fund that targets blockchain startups from across the continent. The venture capital firm also published its initial African Blockchain Report, paring with Standard Bank for the partnership which shows how Africa’s use of blockchain technology has become a norm. The report highlighted how Africa has self-accelerated blockchain as a transformative force for society and the economy and how pioneers continue reinforcing the need for more unified action on regulation and infrastructure.…

Crypto Custody Firm Fireblocks Launches Web3 Services Suite – Bitcoin News

Fireblocks, a crypto custody service provider, is expanding its services with the launch of an institutional suite of Web3 services. This suite will allow customers to leverage liquidity from different exchanges, and mint NFTs. The service, which has already onboarded several names in the industry, also includes gaming asset management for blockchain games on Ethereum and other smart contracts-enabled blockchains. Fireblocks Debuts Web3 Services Offering Fireblocks, a cryptocurrency custody company, is seeking to expand its suite of services to onboard different kinds of customers. The company announced the…

Institutional DeFi Enabler? Data Firm Kaiko Probes DEX Liquidity With New Product

“Uniswap V3 smart contracts, for example, come with a lot of logic and mathematical rules around the upper boundary and lower boundary that’s actually embedded in the code of the smart contract and not displayed on-chain,” Cherif said in an interview. “In order to produce a proper market data feed, you need to not only capture the data of the event on-chain, but also to completely reverse-engineer the smart contract and its rules.” Source

Ethereum analytics firm Nansen acquires DeFi tracker Ape Board

Major Ethereum blockchain analytics platform Nansen continues scaling its operations by acquiring a cross-chain decentralized finance (DeFi) tracker. Nansen has acquired the multi-chain portfolio tracker Ape Board in an eight-figure deal, the firm announced to Cointelegraph on Tuesday. Closing later in May, the acquisition will unite the teams of the two platforms, aiming to combine Nansen’s analytics and Ape Board’s portfolio tracking to provide an all-in-one information service. As part of the acquisition, 13 employees at Ape Board will join Nansen’s team counting 120 analysts, product managers and engineers to…

New Crypto Native Firm Fortis Digital Raising $100M Fund

The firm was founded by the managing partners of Fortis Financial Group, a Seattle-based registered investment advisor with about $250 million in assets under management. The Forits Digital team includes Mike Boroughs, who headed wealth management at Fortis Financial, and Chris Capriccio, who previously served as the vice president of engineering at LegalZoom. Source

Twitch co-founder raises $24M for Web3 gaming firm Metatheory

Web3 gaming and entertainment company Metatheory founded by Twitch co-founder Kevin Lin has raised $24 million in a Series A funding round on Monday. The round was led by crypto capital venture firm Andreessen Horowitz (a16z), with participation from Pantera Capital, the venture arm of the FTX cryptocurrency exchange, FTX Ventures, and other venture firms, according to the announcement. Metatheory was launched in November 2021 around one year after Lin left Twitch, where he wrote in a Medium article at the time that he was creating the gaming company and also…