Tag: funding

These Crypto Exchanges are Seeing Massive Inflows of Illicit Funding, Claims Report

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It’s no secret that the anonymous and entirely digital crypto market is rife with scams, fraud, and crime. Although this only accounts for a small portion of the market as a whole, it is still a thorn in the side of the industry. It is also one of the main talking points used by anti-crypto crusaders. They often point to digital assets’ role in some criminal activities as a reason why they can’t be considered as legitimate currencies. It is important to note that centralized exchanges have put up barriers…

METACO Raises $17M in Oversubscribed Series A Funding Round from Global Financial Services Leaders – Blockchain News, Opinion, TV and Jobs

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International security technology group Giesecke+Devrient has led a fresh investment round for Swiss financial infrastructure provider Metaco for a totally oversubscribed series A investment round of $17 million. Leading provider of security-critical digital asset infrastructure for financial institutions Metaco, today announced a Series A round of $17 million. The round, with demand over double the initial target, proving continued support from existing investors combined with significant interest from new strategic partners in security technology, central bank infrastructure, Swiss and global banks, and venture firms focused on financial technology. The Series…

MIT Group Funding Shows Growing Crypto Trading Interest

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Floating Point Group, or FPG, a startup delivering institutional crypto traders automation technologies, garnered $2 million of capital from several entities. “It’s becoming clear that sophisticated quantitative traders and platform developers are viewing the cryptocurrency markets as an exciting new opportunity,” FPG CEO John Peurifoy explained in a May 28 statement.  The funding goes toward expansion  Algorand CEO Steve Kokinos, Seabury Global Markets, AngelList founder Naval Ravikant, and multiple others invested the money into FPG, receiving company stake in return, the statement said.  An outfit operating under U.S. governing bodies, FPG…

Blockchain Development Firm Raises Nearly $28M in Funding

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Blockchain technology firm, LayerX, has raised about 3 billion yen (equivalent to nearly $28 million) to further blockchain adoption. The Japanese version of Cointelegraph reported on May 28 that LayerX raised the funds from venture capital firms JAFCO, ANRI, and Yahoo Group. JAFCO board member, Keisuke Miyoshi, commented: “Corona has exposed various issues in Japan. It is further accelerating [digitization]. Blockchain is not just a technology buzzword.” The news follows April reports revealing that most of the fundraising in the crypto space shifted from the Americas to the Asia Pacific…

Study Shows UK Blockchain Companies Are Shifting Back To Traditional Funding Strategies

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A new study released by venture capital firm, MMC Ventures, found that UK blockchain companies are turning to traditional capital raising strategies, noting that the Initial Coin Offering, or ICO, model is becoming “increasingly” difficult to utilize. According to the research published on April 30, ICOs represent a “valuable” funding source for open-source projects. However, they allege that cheap access to capital combined with a lack of understanding of the esoteric concepts involved in most crypto projects, generated the perfect conditions for a “bubble.” The research further quotes a study,…

Porsche Backs Blockchain Platform for Vehicle Management in $6M Funding Round

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Porsche has participated in a 5.5 million euros ($5.9 million) funding round for a German startup Gapless — the developer of a blockchain-based vehicle management system. Among other contributors, Gapless saw FinLab EOS VC Fund, a joint venture between Block.one and FinLab, and insurance entrepreneur Kersten Jodexnis, Tech.eu reported on April 29. Gapless is going to allocate the raised money to further develop its key product, an application that allows users to record a complete history of vehicles, as well as increase its user base. According to Gapless, it currently…

Silicon Valley Startups’ Funding Troubles Poses Unique Threat to the Crypto Industry

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A report from law firm Fenwick & West LLP reveals venture capitalists have tightened spending in light of the economic crisis, spelling trouble for crypto startups looking for investment money. Not only that, but the findings of the report also show deflation in company valuations when compared to pre-pandemic times. Indeed, in January this year, Silicon Valley funding rounds typically boosted company valuations by 117% on average. However, startups in this region saw that figure drop to just 46% in March. A Decline in Confidence See Investment Spending Dry Up…

Silicon Valley Startups’ Funding Troubles Poses Unique Threat to the Crypto Industry

boss

A report from law firm Fenwick & West LLP reveals venture capitalists have tightened spending in light of the economic crisis, spelling trouble for crypto startups looking for investment money. Not only that, but the findings of the report also show deflation in company valuations when compared to pre-pandemic times. Indeed, in January this year, Silicon Valley funding rounds typically boosted company valuations by 117% on average. However, startups in this region saw that figure drop to just 46% in March. A Decline in Confidence See Investment Spending Dry Up…

New Venture Studio Offers $100K Funding to Algorand DApp Startups

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Blockchain investment company Eterna and venture capital fund Borderless Capital have teamed up to launch Eterna Borderless Venture Studio, to support projects on the Algorand platform.  The aim is to drive adoption and growth by providing tools and resources to decentralized app — or DApp — developers and entrepreneurs. Startups are eligible to receive funding up to $100,000, with Borderless Capital able to offer a follow-up investment of up to $2 million for companies that emerge as category-leading businesses. The venture studio includes student groups from some of the world’s…

Factom Facing Liquidation After Creditor Refuses Request for Funding

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After failing to source additional funding, blockchain company Factom has begun the process of being liquidated.  In an April 2 notice to investors, Factom’s largest investor FastForward announced the “dissolution event”:  “The Company has been notified by the directors of Factom that in a board meeting on 31 March 2020 they concluded that, in the absence of further funding, they now needed to begin the process of assignment of assets for the benefit of creditors.” Citing their failure to secure additional funding, FastForward declared Factom would now enter receivership. As…