Debt has been a sore spot for some crypto miners, some of which have faced margin calls on their loans as the value of their collateral, usually bitcoin or equipment, has diminished during the past few months’ market rout. Given the capital-heavy nature of the mining business, however, raising funds through debt has been one of the few ways miners have been able to build during the bear market. Source
Friedland reportedly received an email from Mailchimp regarding the suspension that said “We cannot allow businesses involved in the sale, transaction, trading, exchange, storage, marketing, or production of cryptocurrencies, virtual currencies and any digital assets.” Source
On August 9, a firm that uses landfill methane to fuel bitcoin miners, Vespene Energy, announced the company has raised $4.3 million in a funding round led by Polychain Capital. Vespene aims to use the funds for its pilot in California by using landfill methane to mine bitcoin and “mitigate a major source of greenhouse gas emissions.” Vespene Energy Raises $4.3M in Funding Round Led by Polychain Capital, Firm Aims to Give Landfill Owners the Ability to Monetize Landfill Methane Vespene Energy announced that the company has raised $4.3 million…
“We believe that the use of RenBridge was part of the laundering process,” Tom Robinson, co-founder and chief scientist at Elliptic, told CoinDesk in an emailed statement, adding that the obfuscation and layering achieved by passing the assets through RenBridge aided in concealing the illicit origin of the funds. Source
Even with the onset of crypto winter, 2022 has been a watershed year for venture capital funding. Crypto and blockchain companies collectively raised $30.3 billion in venture capital in the first half of 2022, exceeding all of last year’s totals. While the number of deals has declined in recent months, startups at the intersection of blockchain payments, decentralized finance (DeFi) and cybersecurity are still attracting sizable interest from the VC community. The latest edition of VC Roundup highlights some of the most intriguing funding deals of the past month. Related: The risks…
The now defunct and bankrupt Voyager Digital has been approved by the court to distribute $270 million in funds to creditors and affected customers. The news follows the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board ordering Voyager to remove any statements that allege Voyager is FDIC insured. The U.S. Bankruptcy Court in New York and Judge Michael Wiles have allowed Voyager’s custodian, Metropolitan Commercial bank, to release the $270 million. New York Bankruptcy Court Approves Release of $270 Million From Voyager’s Custodian The TSX-listed crypto exchange Voyager…
Two titans from different corners of the investment world are partnering up to bring cryptocurrency trading to wealthy clients. In a new blog post, top US-based crypto exchange Coinbase announced an alliance with BlackRock, the traditional finance investment behemoth with $10 trillion in assets under management (AUM). Institutional investors who use BlackRock’s Aladdin management platform will now be able to purchase Bitcoin (BTC) via Coinbase Prime, with access to other altcoins coming at a future date. “Built for institutions, Coinbase Prime integrates advanced agency trading, custody, prime financing, staking, and staking…
On Wednesday, Galoy, the firm behind El Salvador’s Bitcoin Beach Wallet, announced that the company raised $4 million in funding in an investment round led by Hivemind Ventures. On the same day, the startup launched a new product called Stablesats, a stablecoin concept that leverages derivatives contracts to create a bitcoin-backed synthetic dollar pegged to the U.S. dollar. The Stablesats product allows people to transact via the Lightning Network and hedge against crypto market volatility at the same time. Fintech Startup Galoy Raises $4 Million in a Funding Round Led…
Enterprise cryptocurrency custody firm Fireblocks is set to offer token minting services through a new integration with Ethereum- and Polygon-friendly platform Tokeny. The new feature allows businesses and retail customers to mint and manage permissioned tokens, digital securities, stablecoins and loyalty programs across various trading applications, payment networks and digital banks. Fireblocks and Tokeny make use of ERC-3643 security tokens deployed on the Ethereum and Polygon blockchains. Fireblocks provides an enterprise solution for moving, storing and issuing digital assets to exchanges, lending desks, custodians, banks, trading desks and hedge funds.…
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