Tag: funding

Egyptian Fintech Startup Connect Money Secures $8 Million Seed Funding

Connect Money, an Egyptian fintech startup, recently secured $8 million in seed funding. The company plans to launch new business verticals using this investment. Connect Money aims to become the go-to platform for businesses seeking seamless banking services. Successful Capital Raise Demonstrates Investors’ Confidence in Connect Money Egyptian banking-as-a-service fintech startup Connect Money recently closed […] Source CryptoX Portal

Decentralized Exchange Bluefin to Rollout Token ‘BLUE’ After Securing $17M in Total Funding

The BLUE token will have a maximum supply of 1 billion and an initial circulating supply of 116 million, according to a tokenomics document seen by CoinDesk. Investors and Bluefin’s team will have a three-year vesting period with a lockup that will expire one year after the initial roll-out next month. It also plans to allocate 32.5% of the token for user incentives that will include airdrops, trading rewards, liquidity provisions and future growth initiatives, according to the document. Source

Bitcoin miner Hut 8 secures $150m funding to build AI infrastructure platform

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Bitcoin mining giant Hut 8 announced a $150 million strategic funding from Coatue to emerge as a “leader in the AI infrastructure market.” Miami-based Bitcoin mining firm Hut 8 announced on Monday it has raised $150 million to bolster its data center capabilities for artificial intelligence (AI). The funding, structured through convertible notes with an 8% annual interest rate, aims to support Hut 8’s expansion into AI infrastructure to meet growing market demand and position itself as a leader in the sector. While specific details on the location of Hut…

Blockchains Are Revolutionizing Public Goods Funding

I started drafting my talk, explaining how money powers incentives and therefore powers how world-changing innovation enters the world. When government funding for research took off in the 1950s, it led to breakthroughs in science, medicine and technology. Similarly, the growth of venture capital over the past few decades, led to the acceleration of startups and innovative companies. My argument: crypto is powering a bottoms-up scalable way of distributing funding into areas that need it most. At least, this is the hope. However, trying to find mainstream, tangible examples has…

NEAR Foundation Forms Nuffle Labs With $13M in Funding

“As an independent entity, Nuffle Labs will now be able to make agile decisions, ensuring that NEAR Modular products remain competitive,” the announcement said. “Strategically positioned between the NEAR Foundation, Ethereum, and EigenLayer ecosystems, Nuffle Labs will leverage strengths from multiple platforms to enhance efficiency and resilience in the NEAR ecosystem.” Source

Funding Open-Source Generative AI With Crypto

While the momentum in open-source generative AI is strong, a more detailed analysis shows a different reality. Open-source generative AI is facing a massive funding issue. When it comes to large foundation models, only large companies such as Databricks, Snowflake, Meta or well-funded startups like Mistral are keeping up with the performance of large closed models. Most of the releases from other labs, like Databricks and Snowflake, are focused on optimized enterprise workloads, while most of the recent open-source research is focusing on complementary techniques rather than on new models.…

Arbitrum DAO Agrees To Distribute $216 Million In Funding

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The Arbitrum Foundation, a Decentralized Autonomous Organization (DAO) tasked with developing and nurturing the Arbitrum ecosystem, has approved the start-up of a support fund aimed at developing projects in its gaming ecosystem. The organization has revealed plans to distribute a whopping $216 million to improve its gaming ecosystem. Arbitrum To Allocate $216 Million For Gaming Proposal The Arbitrum Foundation has officially endorsed a proposal, involving a funding initiative to expand and develop its gaming ecosystem. According to its blog post, the Arbitrum DAO will work towards allocating 225 million ARB…

San Francisco-Based Crypto Exchange Kraken Mulls $100,000,000+ Pre-IPO Funding Round: Report

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One of the world’s largest and oldest crypto exchanges is reportedly contemplating a final funding round before possibly going public. Citing people familiar with the matter, Bloomberg reports that San Francisco-based Kraken is mulling conducting a pre-initial public offering (IPO) round after receiving inquiries from potential investors. The fundraising, which will likely aim to raise more than $100 million, may be completed by the year-end, according to the sources. Bloomberg says the exchange is looking for a “marquee” company to join its board and help it kick off a successful…