Tag: Firm

Private Equity Giant Apollo Global Shows Interest in Acquiring Bankrupt Crypto Firm Celsius

Apollo Global, with $500 billion in assets under management, is looking to revamp the bankrupt Celsius Network in partnership with Provenance Blockchain. It’s nearly a year since crypto lender Celsius Network filed for bankruptcy after slipping into a liquidity crisis following the fall of the Terra ecosystem. In the latest development, private-equity giant Apollo Global Investments, with $500 billion in assets under management, announced its participation in the bid of acquiring bankrupt crypto lender Celsius Network. The person familiar with the matter said that Apollo is an investor in the…

State-sponsored Chinese AI firm launches bot service to ‘surpass’ ChatGPT

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Iflytek, a state-subsidized Chinese artificial intelligence (AI) company, recently announced the launch of “Spark Model,” an AI system designed to compete directly with OpenAI’s ChatGPT. The launch took place at a tech event in HeiFei called “Spark Desk,” and featured a full demonstration of the new system’s capabilities. .#China‘s leading intelligent speech and artificial intelligence (AI) company iFLYTEK launched its generative language model on Saturday. The company said it will keep updating it to a version better than the rival ChatGPT by Oct.. pic.twitter.com/zjSrPbAXKy — Beijing Daily (@DailyBeijing) May 8,…

South China Morning Post’s NFT Spinoff Firm Artifact Labs Raises $3.25M Round

“It’s not about creating new IPs for speculation – for example NFT hype projects – it’s about driving new engagement with historically significant collections by using Web3,” Phillip Pon, CEO of Artifact Labs, said in a release. “We want to carve new space in the younger public’s consciousness for historical brands and artifacts…while supporting these important organizations with new revenue streams to fund their preservation work, we are also solidifying immutable on-chain data preservation through NFTs.” Source

Blockchain security firm freezes $160K stolen in Merlin DEX ‘rugpull’

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Smart contract auditor CertiK claims to have blocked $160,000 from Merlin, a zk-Sync-based decentralized exchange (DEX) which has been the center of a rogue insider “rugpull” that lost users $1.8 million last week. CertiK shared the news of its successful $160,000 freeze of the stolen funds in an update to its 257,700 Twitter followers on May 5. “We have successfully frozen $160K of the stolen funds with the help of partners,” CertiK said, adding that they’re continuing to monitor the movement of the stolen funds: We have successfully frozen $160K…

Crypto Financial Product Firm OpenTrade Raises Over $1.5M Round led by Sino Global

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Bitcoin and crypto markets firm ahead of US Fed interest rate decision

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Ahead of the highly anticipated Federal Reserve (Fed) announcement, trader sentiment is bullish, and the total crypto market capitalization is over $1.18t. Bitcoin, ethereum bullish but gains are low Statistics indicate that crypto markets have recorded slow gains recently in anticipation of the impending announcement from FOMC. Data suggests that the total market cap rose 1.47% to $1.18t primarily because some coins have been firm, reversing recent losses. Bitcoin, for instance, is firm, up 2.29% in…

New Crypto VC Firm Credibly Neutral Raises $5.5M

Investors in the round included Anthony Sassano (author of Ethereum-focused Substack Daily Gwei), Patricio Worthalter (founder of “proof of attendance” protocol POAP), Surojit Chatterjee (former chief product officer of crypto exchange Coinbase), Joe Lallouz and Aaron Henshaw (founders of blockchain infrastructure provider Bison Trails), Solana co-founders Anatoly Yakovenko and Raj Gokal, Mara Schmiedt (CEO of staking solution Alluvial), Polygon co-founder Sandeep Nailwal, and Joe Lubin’s Ethereal Ventures, among others. Source 5.5MBitcoinCrediblyCryptocryptoexchangeExchangesFirmNeutralRaises CryptoX Portal

FTX advisors billed the bankrupt firm for a whopping $103M in Q1

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The lawyers and consulting firms assisting cryptocurrency exchange FTX through its bankruptcy proceedings are set to cash in a total of $103 million over the first quarter. March saw five firms — Sullivan & Cromwell, Alvarez & Marshal, AlixPartners, Quinn Emmanuel Urquhart & Sullivan and Landis Rath & Cobb — bill FTX a combined $36.4 million according to several court filings between April 28 and May 2. The invoices from March were slightly higher than January and February’s figures of $34.2 million and $32.5 million respectively. New York-based law firm…