Tag: funding

DeFi protocol 1inch closes $12M funding round led by Pantera Capital

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The team behind the 1inch protocol, which combines an automated market maker protocol and an aggregator for other DEXs, announced on Wednesday a successful Series A round for $12 million. Pantera Capital, a major venture fund active in the cryptocurrency space, led the round. A total of ten other funds joined in the round, including: ParaFi Capital, Nima Capital, LAUNCHub Ventures, Spark Capital, gumi Cryptos, Fabric Ventures, Struck Capital, Rockaway Blockchain Fund, Spartan Capital Securities and Blockchain Capital. Three business angels also participated in funding, including Josh Hannah, partner at…

Bitmain reportedly cuts off funding to Bitcoin Core developers

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Bitmain, one of the world’s largest Bitcoin (BTC) miner producers, has reportedly halted its funding for some primary developers maintaining Bitcoin-related software. Jonas Schnelli, a major Bitcoin Core contributor and maintainer, claimed that Bitmain halted its support after funding his efforts for more than three years. In a Dec. 1 tweet, Schnelli said that he lost his sponsorship from Bitmain alongside Joao Barbosa, another Bitcoin Core contributor also known under the “promag” nickname on GitHub. “Thanks Bitmain for all the help (despite the disagreement we had),” Schnelli tweeted, asking the…

Billionaire Investor Peter Thiel Backs BioTech ATAI with New Funding

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The ultimate vision driving the billionaire investor Peter Thiel to support the Atai projects is unclear as none of the drugs being independently developed by ATAI has been approved by any regulatory body to date. ATAI Life Sciences, a Berlin-based biotechnology company focused on mental health solutions has announced the completion of its Series C funding round co-led by Billionaire investor Peter Thiel. According to the official announcement, $125 million was raised in the Series C funding round and it involves $32 million of Atai’s 2020 convertible debt that was…

Jeff Bezos Helps Chipper Cash Raise $30M in Series B Funding Round

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According to the CEO of the company, Ham Serunjogi, Chipper Cash has partnered DriveWealth, a US-based services company to provide access to its users starting from those based in Nigeria to purchase U.S stocks. Chipper Cash, an African-based P2P payment service platform currently operating in seven countries, has raised a whopping sum of $30 million backed by the founder of Amazon.com Inc (NASDAQ: AMZN) Jeff Bezos. Chipper Cash has made incredible progress since it emerged in the internet financial scene. The company has plans in place to expand its products…

Yearn.finance (YFI) Tests Key Support as Funding Rates Flip Negative

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Yearn.finance’s YFI token has been facing some intense selling pressure today as the focus shifts back to Bitcoin. YFI and other blue-chip DeFi tokens have posted some massive gains throughout the past few days, with the Yearn ecosystem’s token rallying from lows of $7,500 to highs of $18,000 over the course of an hour. Other tokens followed in its footsteps and saw similar gains, with this revitalizing the aggregated DeFi sector. Bitcoin’s sideways trading within the $15,000 region that took place concurrently with this upsurge was vital for these tokens…

Tier Mobility Raised $250 Million in Series C Funding Led by SoftBank

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With Tier continuously offering new products and options, this funding is geared to help support the firm as it hopes to emerge profitable despite the potential risks of the COVID-19 pandemic. German-based micro-mobility service provider Tier has raised a new $250 million in Series C funding led by Japanese multinational conglomerate holding company, SoftBank Group Corp (TYO: 9984). According to the press release from the company, the investment from SoftBank was made through Vision Fund 2 as well as its existing investors including Mubadala Capital, Northzone, Goodwater Capital, White Star…

Funding for Chainlink Rocketed Following Latest Rally; Time for a Pullback?

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Chainlink’s price has been bearing witness to some immense volatility throughout the past few days and weeks, with buyers propelling it towards $14.00 yesterday while the entire DeFi sector saw some explosive momentum. However, the token is now facing some intense selling pressure, with the entire crypto market starting to turn lower as buyers struggle to maintain the momentum seen throughout the past couple of days. This market-wide downturn comes as Bitcoin breaks below $15,000, which has far-reaching implications for the aggregated market. ETH is also trending lower, losing its…

Pony.ai at $5.3 Billion Valuation after Recent Funding Round

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The new $5.3 billion valuation is a significant increase from the $3 billion reported by Pony.ai in February. Chinese autonomous car firm Pony.ai has secured $267 million in another round of funding that brings its valuation to $5.3 billion. In total, the autonomous-automobile firm has raised $1 billion through funding. According to a CNBC report, it was a fund run by the Ontario Teachers Pension Plan Board that led the investment. Notably, other investors of Pony.ai also participated in the financing. In a press release, the CEO of Pony.ai James Peng…

negative funding shows it can still run higher

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The price of Bitcoin (BTC) surged past $14,000 for the second time in one week. Yet, the funding rate of BTC futures on Binance Futures is still heavily negative. The daily price chart of Bitcoin. source: BTCUSD on TradingView.com Why is Funding Rate Critical For Bitcoin Momentum? The Bitcoin futures market utilizes a system known as “funding.” Through this mechanism, short-sellers are incentivized when the majority of the market are longing or buying Bitcoin, and vice versa. If the overwhelming majority of the Bitcoin futures market is selling or shorting…