Tag: Firm

Cisco Acquires Cybersecurity Firm Splunk for Massive $28B in Cash

This is Ciscoโ€™s largest acquisition till date as the company plans to amp up its cybersecurity division to boost the companyโ€™s revenue. In a major announcement on Thursday, September 21, Americaโ€™s digital communications and technology giant Cisco announced the acquisition of cybersecurity firm Splunk for a staggering $28 billion. The $1578 per share cash deal is Ciscoโ€™s largest acquisition to date. Acquisition of Splunk by Cisco On Thursday, Splunkโ€™s shares surged by a 21% increase in value, whereas Ciscoโ€™s shares ended the day with a 4% decline. Splunkโ€™s technology is…

Ex-Alameda Employee Claims Firm Triggered 87% Bitcoin Price Plummet In 2021

boss

In a recent disclosure, a former employee of Alameda Research, a trading firm led by Sam Bankman-Fried, has unveiled crucial information regarding the dramatic 87% plummet in Bitcoin (BTC) value during 2021.ย  The incident, which occurred on October 21, 2021, witnessed BTCโ€™s price on Binance.US nosedive from approximately $65,760 to $8,200 within a short period. Insider Details Of Bitcoin Plunge And Alleged Manual Trading Error The ex-employee, Baradwaj, alleged that the trading firm was directly responsible for the sudden price drop, attributing it to a โ€œmanual trading errorโ€ rather than…

Former Alameda Employee Accuses Firm of Causing BTC 87% Price Dip in 2021

The โ€˜honestโ€™ mistake did eventually cost Alameda some millions of dollars. An individual simply identified as Baradwaj has dropped a bombshell of an accusation on his former employer Alameda Research. According to him, Alameda, which was owned by Sam Bankman-Fried, played a prominent role in the downward spiral of Bitcoin (BTC) that saw its prices plunge over 87% on Binance.US within minutes. This was back in 2021. At the time, BTCโ€™s price dipped to as low as $8,200 from around $65,760, albeit in a manner that could not be immediately…

Standard Charteredโ€™s Zodia Custody Crypto Custody Firm Begins Offering Yield on Crypto Holdings

Zodia Custody will now offer yield on digital assets to institutional clients in addition to providing its custody services. Zodia Custody, a leading crypto custody platform owned by banking giant Standard Chartered, will start providing yield on crypto holdings owned by its institutional clients. To bring this to fruition, Zodia Custody has partnered with OpenEden, a Singapore-based startup that brings real-world assets to the blockchain. Zodia Custody will use this partnership to connect digital assets held in custody by institutional clients to yield opportunities in the real world. Zodia has…

VC Firm Blockchain Capital Raises $580M for Two New Funds

Blockchain Capitalโ€™s Head of Capital Formation Jason Di Piazza stated that most of the firmโ€™s limited partners are traditional institutional investors. Crypto venture capital (VC) firm Blockchain Capital has raised $580 million for two new funds. The raise is Blockchain Capitalโ€™s largest to date and one of the biggest crypto-focused raises this year. We’re thrilled to share the closing of 2 new funds โ€“ our 6th early stage fund and 1st opportunity fund. Together, they total $580 million and serve to reinforce our commitment to leading the global transition to…

Crypto VC Firm Blockchain Capital Secures $580M For Expansion Of Investment Funds

boss

Blockchain Capital, a venture capital company founded by Bart Stephens and Brad Stephens in 2013, has successfully closed two new funds, raising a total of $580 million.ย  The firmโ€™s general partner, Spencer Bogart, confirmed the news to TechCrunch, stating that the funds consist of a sixth early-stage fund and the firmโ€™s first โ€œopportunity fund.โ€ย  Approximately two-thirds of the $580 million will be allocated to the early-stage fund, while the remaining one-third will be dedicated to the opportunity fund. Blockchain Capital Raise For Two New Crypto Funds Per the report, the…

Bitcoin mining firm Hut 8 gets judicial approval for USBTC merger

boss

Canadian Bitcoin mining giant Hut 8 secured pivotal judicial approval for its merger with USBTC.ย  The British Columbia Supreme Court has granted the final judicial go-ahead for the union between Canadian Bitcoin miner Hut 8 and U.S. Bitcoin Corp (USBTC). Scheduled to culminate by yearโ€™s end, this merger is poised to reshape the landscape of Bitcoin mining and high-performance computing. We are pleased to share that the Supreme Court of British Columbia has issued a final order approving the merger of equals between Hut 8 and USBTC! ๐ŸŽ‰The full details…

Bitbuy enters strategic partnership with Canadian crypto ATM firm Localcoin

boss

Canadian fintech corporation WonderFi, a firm backed by billionaire Kevin Oโ€™Leary, recently announced a strategic partnership between Bitbuy and cryptocurrency ATM provider Localcoin ATM. The partnership, announced on Sept. 18, will shore up Localcoinโ€™s crypto ATM offerings throughout Canada with Bitbuyโ€™s exchange platform and the โ€œdeep liquidityโ€ that comes with it, according to a press release from WonderFi. PRESS RELEASE: Bitbuy Partners with Localcoin, Canada’s Largest Bitcoin ATM Provider Bitbuy’s digital asset offering now powers nearly 50% of Canada’s Bitcoin ATMs MORE DETAILS: https://t.co/rqBDoHev1O โ€” WonderFi (@WonderFi) September 18, 2023…

$2,000,000,000 Worth of Crypto Wash Trading on Ethereum-Based Decentralized Exchanges, Says Surveillance Firm

boss

A crypto surveillance firm says that billions of dollars in fake market volume are flowing through decentralized exchanges (DEXs) on Ethereum (ETH). In a new report, Solidus Labs says crypto token deployers and liquidity providers have wash traded at least $2 billion worth of crypto assets on Ethereum-based DEXs since 2020. Wash trading involves entities buying and selling an asset at the same price from themselves to artificially inflate the trading volume and attract more investments and liquidity According to Solidus, 67% of the roughly 30,000 DEX liquidity pools it…