Tag: Firm

Crypto Infrastructure Firm Blockstream Raises $125M for Bitcoin Mining

“This fundraise allows us to accelerate the [year-over-year] revenue growth we created with our 2021 Series B and continue to build infrastructure for the future Bitcoin economy,” said Blockstream President and Chief Financial Officer Erik Svenson. “We remain focused on reducing risk for institutional bitcoin miners and enabling enterprise users to build high-value use cases on the most secure, robust and scalable blockchain in the world – Bitcoin,” he added. Source

VC Firm Pantera’s 2023 Crypto Forecast Says the Future Is DeFi

Krug sees the “end state” of crypto as a world where the “average person will have apps on their phone that give them access to DeFi, where they’ll be able to engage in financial transactions without banks/brokers, with lower fees, global liquidity and markets operating 24/7.” However, Krug wrote, achieving this end state requires solutions to a number of current problems that break down into two categories: increasing liquidity in DeFi and making DeFi easier to use, particularly for those new to crypto. Source

Chinese blockchain firm launches the ‘SWIFT’ of stablecoins and CBDCs at Davos

A Hong Kong-based blockchain company has launched a digital payments system aimed at bridging the gap between stablecoins and Central Bank Digital Currencies (CBDCs). Red Date Technology, the blockchain infrastructure firm which is also leading one of China’s blockchain efforts, launched the Universal Digital Payment Network (UDPN) on Jan. 19 during the World Economic Forum (WEF) 2023 meeting in Davos, Switzerland. According to its whitepaper, the UDPN is a distributed ledger technology (DLT) platform that would serve a similar purpose to what the SWIFT network does for banks, but for stablecoins…

Crypto Trading Firm Cumberland DRW Disputes Genesis Exposure

“Under the terms of our agreement, on November 16, we notified them that we were surrendering our cash collateral and liquidating their crypto to close out the loan,” Cumberland said. “This left an outstanding balance due to us of approximately $46,064.34, consistent with our November tweet. We have established no further borrows from Genesis and have no additional exposure.” Source

Former FTX US president raises $5M for new crypto software firm

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The former head of FTX US is launching a new cryptocurrency software company and has raised $5 million from several investors, according to Bloomberg.  Brett Harrison, who served as president of FTX US between May 2021 and September 2022, has received backing from Coinbase Ventures and Circle Ventures to launch a new software startup. SALT Fund, Motivate VC, P2P Validator, Third Kind Venture Capital, Shari Glazer of Kalos Labs and Anthony Scaramucci also participated in the seed round. His new startup, dubbed Architect, will develop trading software for large institutions…

Sports NFT Firm Candy Digital Raised Over $38M Amid Founder Strife

According to the filing, Candy Digital had raised $38,449,997 from 14 investors in an equity offering, more than half of the $68,188,480 overall that the company is seeking to raise in the sale. The offering opened on Jan. 3 – the day before CNBC reported that Fanatics was selling its stake to a group led by well-known financier Michael Novogratz’s Galaxy Digital. Source