Tag: Firm

British Payment Firm SumUp Secures $307M in Funding Round for Global Expansion

Currently valued at $8.6 billion after its £590 million ($624 million) investment round last year, SumUp stands strong in private markets with no immediate plans for an initial public offering. London-based financial services company SumUp has secured £285 million worth approximately $307 million in its latest funding round to expand its business offerings to other parts of the world outside the United Kingdom. The company has already established its presence in other financial markets outside Europe, including the United States and Australia. Global Expansion Plans According to an official announcement…

Crypto VC Firm C1 Explores Acquisitions in Australia, Targets Animoca Brands and Chainalysis

Australia’s recent regulatory developments in the crypto space coincide with C1’s endeavor to acquire private holdings in the country. Crypto venture capital firm C1 is making strategic moves to acquire private holdings in Australia’s crypto market, according to reports from local media, Australian Financial Review, citing a Pitch Deck seen by the company. The firm, founded by former Coinbase executives, plans to utilize its $500 million fund to purchase secondary shares from prominent companies and local ventures, preferably those with a minimum valuation of $300 million from series C funding…

Investment firm floats yield-bearing ETF based on MicroStrategy stock

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A specialized exchange-traded fund (ETF) firm called YieldMax has filed to launch the first yield-bearing ETF product based on shares in Michael Saylor’s Bitcoin holding company, MicroStrategy. According to a Dec. 7 filing with the United States SEC, YieldMax has officially applied to launch its Option Income Strategy ETF based on shares in MicroStrategy, slated for release sometime in 2024. If approved by the SEC, the ETF will trade under the ticker “MSTY” — just one letter off MicroStrategy’s pre-existing ticker “MSTR.” Yieldmax’s filing with the SEC for its leveraged…

Crypto Lending Firm Ledn Offers Low-Risk Custodied Loans

“The collateral must be held in custody, and that will always be a qualified custodian, whether that is with BitGo, or one of our banking or credit fund partners,” said Ledn co-founder Mauricio Di Bartolomeo in an interview. “This is the first time this type of loan, which is done through a centralized entity that can offer 24 hour disbursements, is being offered outside the U.S. to international customers.” Source

21Shares COO Lucy Reynolds Has Exited the Firm

“She has played a pivotal role in the evolution of our company and we are grateful for her contributions,” said a spokesperson for 21Shares in an email to CoinDesk. “This mutual decision has been in the works for over 6 months, and we have been collaborating together on the transition plan.” Source

Crypto Mining Firm Phoenix Shares Soar 50% after Going Public in Abu Dhabi

The Phoenix public offering comes when the appetite for IPOs in the Persian Gulf region has increased in the past two years due to a number of factors. Shares of cryptocurrency mining company Phoenix Group soared 50% on Tuesday following the company’s public debut in Abu Dhabi, Bloomberg reported. According to the article, the company’s stock opened at 2.25 dirhams, showing a significant increase from the 1.50 dirhams it sold during the initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX) under the trading symbol PHX on November…

Web3 firm detects major security flaw in common smart contracts

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Smart contract development firm Thirdweb reported a security vulnerability that potentially “impacts a variety of smart contracts across the Web3 ecosystem.” On Dec. 4, Thirdweb reported a vulnerability in a commonly used open-source library that could impact certain pre-built smart contracts, including some of its own. However, Thirdweb’s investigations concluded that the smart contract vulnerability has not yet been exploited, allowing a small window of opportunity for Web3 firms to avoid a possible hack. Highlighting the vulnerability’s potential to cause massive damage if not rectified immediately, Thirdweb stated: “The impacted pre-built…

KyberSwap hacker wants control, law firm says Aussie DeFi tax rules ‘non-binding’: Finance Redefined

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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The hacker who stole over $46 million from the DeFi protocol KyberSwap has released a list of demands, including total control over the Kyber company and all its assets. The hacker specified a deadline for the Kyber team to fulfill the demands. A law firm in Australia described the DeFi tax guidance released by the country’s finance regulator as “toilet paper.” Cadena…

Australia’s confusing new crypto tax guidance is ‘toilet paper,’ says law firm

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Australia’s controversial new guidelines for cryptocurrency taxation should be ignored for being unclear and should probably be seen as “toilet paper,” according to an Australian law firm. On Nov. 9, the Australian Tax Office (ATO) released guidance that could impact how investors and traders involved in decentralized finance report their taxes. In a Nov. 27 blog, Cadena Legal noted the guidance was “non-binding” instead of a binding public ruling — arguing that such guidance should be seen as “toilet paper.” If you hate the ATO’s recent web guidance on crypto,…