Tag: Firm

HKEX-listed tech firm launches $15M Bitcoin fund

boss

Linekong Interactive, a gaming and film production company headquartered in Beijing and listed on the Stock Exchange of Hong Kong (HKEX), is allocating $15 million to invest in projects building on the Bitcoin network. Wang Fang, the founder of Linekong, said in a Nov. 8 tweet that the fund, dubbed “BTC Next,” will be used to accelerate emerging projects in the Bitcoin ecosystem, including “asset issuance protocols, trading markets, expansion, virtual machines, NFT, RWA, and GameFi.” For initial efforts, the firm would “participate in the research and investment of Bitcoin network ecological assets…

AI Firm Ritual Raises $25M, Led by Archetype

“The consolidation of AI among a small group of powerful companies poses a significant threat to the future of technology,” Ritual co-founder Niraj Pant said. “We founded Ritual to end the ecosystem’s reliance on the few, to open access to this critical infrastructure, and ensure a future of building better AI. Ritual is the decentralized network that the ecosystem needs.” Source

Cloud firm Datadog Beats Street Q3 2023 Estimates, DDOG Stock Price Shoots 28%

Datadog has further given an optimistic outlook for the entire year of 2023 while forecasting Q4 revenue between $564 million and $568 million. On Tuesday, November 7, cloud monitoring software firm Datadog Inc (NASDAQ: DDOG) reported stronger-than-expected results for Q3 2023 following which its stock price shot up by 28%, thereby registering the highest-ever single-day gains. Datadog Performance in Q3 2023 The company reported Q3 2023 revenue of $547.5 million, marking a 25% year-over-year increase and surpassing estimates. This growth rate aligns with Q2 results. Analysts, surveyed by LSEG (formerly…

VC firm a16z crypto spearheads $4.2m seed funding for web3 company Pimlico

UK-based Pimlico has raised $4.2 million in a seed funding round led by a16z crypto, aiming to improve the Ethereum network by introducing versatile smart accounts through ERC-4337. Pimlico, a UK-based web3 infrastructure firm, has successfully secured $4.2 million in seed funding, a substantial boost spearheaded by a16z crypto. The company has its sights set on leveraging this investment to scale its operations. Pimlico’s core mission is to enhance the Ethereum network’s user-friendliness and functionality by implementing smart accounts through ERC-4337—a protocol for account abstraction. The introduction of smart accounts…

Dubai VARA grants ‘initial approval’ to crypto firm WadzPay

boss

The Dubai Virtual Assets Regulatory Authority (VARA) has issued an “initial approval” license to crypto firm WadzPay, marking a pivotal step in the company’s journey toward obtaining a Virtual Asset Service Provider (VASP) license for virtual asset services and activities. According to the announcement, Wadzpay’s VARA license allows it to commence preparations to provide virtual asset services and activities under the VASP License for Transfer and Settlement and Broker/Dealer activities. The VARA license does not allow the company to offer any other of its virtual asset products and services. The…

US crypto custody firm BitGo wins BaFin license in Germany: Report

boss

Major cryptocurrency custody firm BitGo is reportedly expanding its regulatory compliance in Germany more than three years after launching a dedicated local subsidiary. BitGo has obtained a cryptocurrency license from the German Federal Financial Supervisory Authority (BaFin), according to a Nov. 1 report by Finance Magnates. The firm has been storing crypto assets like Bitcoin (BTC) for its clients since 2019 under the supervision of BaFin as part of a transitional regime, the report notes. The German license secures BitGo’s presence in the European market and is an important milestone…

Polkadot firm, dYdX launches on Cosmos while Everlodge investors are bullish

The crypto market rallied in “Uptober” as Bitcoin (BTC) soared as high as $35k. Altcoins like Polkadot (DOT) and Cosmos (ATOM) followed, seeing gains on the weekly chart. On the other hand, analysts are bullish on Everlodge (ELDG). Polkadot rises 4.33% Polkadot released around 99 million DOT into circulation on Oct. 24.  Despite this, DOT remains relatively firm partly because of the “Uptober” altcoin market rally.  Overall, in October, prices were firm. As of Oct. 30, DOT rose 4.33% and 5.32% on the weekly and monthly charts, respectively, reaching $4.32.…

Google to invest another $2B in AI firm Anthropic: Report

boss

Google has doubled down on its artificial intelligence bets by investing another $2 billion into AI startup Anthropic, according to a new report. Google has already invested $500 million upfront to Anthropic — a rival to ChatGPT creators OpenAI — and will pay off the remaining $1.5 billion over time, according to an Oct. 27 report by the Wall Street Journal (WSJ), which cited people familiar. The mega-deal adds to Google’s $550 million investment into Anthropic earlier in the year. Google Cloud also striked a multi-year deal with Anthropic a…

FTX Ramps Up Restitution Efforts, Subpoenas AI Firm CAIS Over $6.5M Investment

boss

Bankrupt crypto exchange FTX, led by newly appointed CEO John Ray III, has embarked on an intensive legal campaign to regain control and recover assets in its pursuit of financial restitution.  As founder Sam Bankman-Fried awaits possible conviction and faces a staggering 114 years in prison if found guilty, FTX’s asset recovery plan continues under Ray’s leadership.  FTX Bankruptcy Battle Escalates In a recent filing with the US Bankruptcy Court for the District of Delaware, FTX issued a subpoena to the artificial intelligence (AI) firm Center for AI Safety (CAIS),…

Recovery firm proposes cracking former Ripple CTO’s $244M Bitcoin hard drive

boss

A company is petitioning former Ripple chief technology officer Stefan Thomas for a hard drive containing more than 7,000 Bitcoin (BTC) that he has been unable to access for years. In an Oct. 25 open letter, crypto recovery firm Unciphered offered to unlock an IronKey hard drive belonging to Thomas containing 7,002 BTC — roughly $244 million at the time of publication. The former Ripple CTO forgot the information to access the drive, designed to erase its data if an individual enters the incorrect password ten times. So far, the…