Tag: funding

The VC-dominated crypto funding model needs a reboot

Does the crypto industry’s funding space need an overhaul? This is one of many questions swirling in the wake of FTX’s downfall: When the prominent exchange collapsed, it left behind a long line of helpless creditors and lenders — including many promising projects dependent on funds promised by Sam Bankman-Fried and company. But there is a bigger problem at the heart of the current funding picture, wherein deep-pocketed venture capital firms throw their weight around in the low-liquidity Web3 market, heavily backing early-stage projects before cashing out at a profit…

Jack Dorsey Gives Decentralized Social Network Nostr 14 BTC in Funding

Dorsey co-founded Twitter in 2006 and departed the company on Nov. 29, 2021, so that the company could move on from its founders. He remained the CEO of Block, a company dedicated to furthering economic empowerment through its portfolio companies. Since his departure from Twitter, the now-Elon Musk-owned company has experienced a rough patch, prompting some users to seek alternatives such as Urbit and Mastodon. Source

Aztec Network secures $100 million in Series B funding led by a16z

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The private layer-2 chain Aztec Network announced on Dec. 15 a $100 million Series B funding round led by venture capital firm a16z crypto. Other investors in the round include A Capital, King River, Variant, SV Angel, Hash Key, Fenbushu, and AVG.  By partnering with a16z, the company plans to hire new engineers and build a “next-generation encrypted architecture” that allows users to verify that blockchain rules were followed without revealing any underlying information. Encrypted blockchains allow users to transact with privacy and anonymity. “What we’re building is a revolutionary piece…

Chipper Cash Valuation Dropped to $1.25 Billion After it Secured Additional Funding From FTX – Featured Bitcoin News

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After Chipper Cash ended 2021 as one of Africa’s most valued fintechs, the FTX-backed startup’s valuation dropped from $2 billion to $1.25 billion after it reportedly received a $35 million simple agreement for future equity (SAFE) grant from the now-collapsed crypto exchange FTX. Chipper Cash has also reportedly laid off 50 employees as it seeks to cope with the deteriorated macroeconomic environment. FTX’s Simple Agreement for Future Equity Chipper Cash, one of the several African fintech startups to receive funding from FTX, saw its valuation drop from $2 billion to…

Web3 Blockchain Gaming Project Oasys Closes Strategic Funding Round With Participation of Galaxy Interactive and Nexon – Blockchain Bitcoin News

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Oasys, a Gamefi-oriented Web3 blockchain project, has announced it has closed a strategic funding round led by Galaxy Interactive, a VC firm, and Nexon, a gaming company. The round, whose numbers were not disclosed, will allow the company to enhance its ecosystem by expanding its pool of partners to take blockchain gaming to mainstream audiences. Oasys Closes Strategic Funding Round to Expand Its Ecosystem Oasys, a Japan-based, gaming-oriented blockchain project, announced the completion of a strategic funding round on Dec. 6, with the participation of Galaxy Interactive, an entertainment-oriented venture…

FTX US ex-president reportedly seeks $6M funding to launch crypto startup

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Just a month after the controversial fall of Sam Bankman-Fried’s FTX exchange and 130 affiliated companies, a former high-ranking executive is reportedly seeking out investors to launch a crypto startup. The ex-president of FTX US, Brett Harrison, is on the lookout for $6 million in funding to launch a start-up that would build crypto trading software for big investors, according to The Information. Harrison’s funding round would be against a $60 million valuation. On Sept. 27, Harrison announced his plans to step down as the president of FTX US as…

Market maker Keyrock closes $72 million in Series B funding round

Digital asset market maker Keyrock has raised $72 million in a Series B round of funding, according to an announcement on Nov. 30. Ripple, SIX Fintech Ventures, and Middlegame Ventures are among the investors in the round. Funds are planned to be used on Keyrock infrastructure development, scalability tools, as well as regulatory licensing across Europe, the United States and Singapore. Keyrock CEO Kevin de Patoul said the company has been focused on a long-term perspective for its business in the past five years. He also noted that: “The new…

Crypto Financial Services Firm Matrixport Seeks $100 Million in Funding – Bitcoin News

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Crypto firm Matrixport Technologies is reportedly seeking $100 million in funding, according to people familiar with the matter. Sources detailed that the company already secured commitments from investors for roughly $50 million, which would give Matrixport a post-valuation of $1.5 billion. Matrixport Looks to Raise $100 Million From Strategic Investors The digital asset firm and crypto lender Matrixport is targeting $100 million from strategic investors, according to a story first reported by Bloomberg. The Singapore outfit was founded in 2019 by billionaire and former Bitmain CEO Jihan Wu. The financial…

Crypto lender Matrixport seeks $100M funding despite lending crisis

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Matrixport, the cryptocurrency firm founded by Bitmain co-founder Wu Jihan, is in the process of raising $100 million in funding despite the ongoing crypto market crisis. Lead investors have already committed $50 million for Matrixport’s new funding round at a $1.5 billion valuation, Bloomberg reported on Nov. 25. The deal has yet to be finalized as Matrixport is still looking for investors for the other half of the round. We’re excited and look forward to engaging with participants, on similar terms, in the other half of the #funding round. Appreciate…

Cardano DeFi Project Ardana Halts Development, Citing Funding, Timeline Concerns

Ardana was barely a year into development after raising $10 million last year via a funding round led by now defunct crypto hedge fund, Three Arrows Capital, Cardano’s cFund and Ascensive Assets. The project was working on stablecoin minting and foreign exchange services, and aspired to be “the MakerDAO and the Curve Finance of Cardano.” Original Source ArdanaCardanoCitingConcernsDeFiDevelopmentfundingHaltsProjectTimeline CryptoX Portal