Tag: funding

KuCoin leads $10M funding for Chinese yuan stablecoin issuer

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The investment arm of major cryptocurrency exchange KuCoin is moving to support new stablecoin initiatives by backing a Chinese yuan-pegged stablecoin issuer. KuCoin Ventures has led a $10 million investment into stablecoin issuer and blockchain-based payment service provider known as CNHC. Announcing the news on March 16, KuCoin Ventures said that the funding round included some prominent industry investors, including KuCoin’s investor IDG Capital and Circle Ventures, the investment arm of the USD Coin (USDC) issuer, Circle. KuCoin chief investment officer and KuCoin Ventures lead Justin Chou told Cointelegraph that…

KuCoin Has Closed a $10M Funding Round Into CNHC, but Is the Offshore Yuan Right for a Stablecoin?

“This investment in CNHC is part of KuCoin Ventures’ broader strategy of investing in the Web3 infrastructure in the APAC region,” Justin Chou, chief investment officer of KuCoin and lead at KuCoin Ventures, said in a statement. “Hong Kong has a well-established traditional finance ecosystem. With the regulation and new policy for next-generation digital assets, Hong Kong has a real opportunity at becoming the new crypto center of the world.” Source

Bitcoin Nears $25K as Interbank Funding Stress Indicator Surges to Highest Level Since COVID Crash

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US Government Announces $25B in Funding amid Fears of Looming Banking Crisis

The US government appears to be solely focused on strengthening public confidence in its banking system. The United States government has swung into immediate action with the BTFP fund following a series of bank collapses that has caused widespread fears of a potential banking crisis. To this end, the US Federal Reserve Board has announced $25 billion worth of funding aimed at helping banks and other depository firms. At least, the funds will give eligible banks the liquidity they require to cater to their customers’ needs during this difficult period.…

US Fed announces $25B in funding to backstop banks

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Hot on the heels of several United States bank collapses, the Federal Reserve has announced $25 billion worth of funding aimed at backstopping banks and other depository firms. The funds would ensure that “eligible banks” would have enough liquidity to cover the needs of their customers during times of turmoil. @federalreserve announces Bank Term Funding Program (BTFP) to support American businesses and households, assure banks have ability to meet needs of all their depositors: https://t.co/JIMjkooIDV — Federal Reserve (@federalreserve) March 12, 2023 In a Mar. 12 statement, the Federal Reserve…

Crypto funding shifts from CeFi to DeFi after major collapses: Finance Redefined

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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. DeFi has become a prominent choice for investors after multiple centralized finance (CeFi) collapses throughout 2022. Some key interest areas for investors include “NFTfi,” on-chain derivative platforms, decentralized stablecoins and Ethereum layer 2’s. February saw seven DeFi exploits resulting in a net loss of about $21 million. March is no different, with multiple exploits already recorded, such as on Hedera’s mainnet. DeFi lender Tender.fi…

Web3 Startup nealthy Raises $1.3M in Pre-Seed Funding Round to Simplify Crypto and NFT Investment

nealthy has announced a successful pre-seed funding round that will help the startup offer more services to help users easily invest in Web3. nealthy, a Web3 startup that facilitates cryptocurrency and NFT investments, has announced that it successfully concluded a pre-seed funding round where it raised $1.3 million. The funding round saw backing from several Web3 investors and crypto celebrity ‘DonGeraldo.’ The Web3 startup is an Ethereum-based platform offering interested users varying exposure levels to NFT and crypto investments. nealthy plans to use the funds for team expansion by hiring…

Ethereum Layer-2 Solution Scroll Secures $50 Million in Fresh Funding

Even in its pre-alpha stage, the Ethereum Layer 2 platform Scroll has reached one million unique addresses as well as 16 million transactions. On Monday, March 6, the Ethereum Layer-2 network Scroll which uses zk-roll-ups technology raised more than $50 million in its latest funding round. some of the top venture capital giants participated in the latest funding round including Polychain Capital, Sequoia China, Bain Capital Crypto, Moore Capital Management, Variant Fund, Newman Capital, IOSG Ventures and Qiming Venture Partners. Scroll hasn’t disclosed many details about the structure of the…

Crypto Funding Turns from CeFi to DeFi Following Major Collapses

According to the report, the numbers prove that Decentralized Finance is the new high-development and growth area for the crypto space. The report also suggested that a dip in Centralized funding projects was seen because of a possible saturation in the sector. Virtual asset investment companies have invested more than $2.7 Billion into decentralized finance undertakings in 2022. The investments have increased by 190% since 2021, while investments into centralized finance projects have gone down, dropping by a staggering 73% to $4.3 Billion in a similar timeframe. The exponential rise in…