Tag: funding

There’s a Problem With Crypto Funding – And Vitalik Just Might Have a Solution

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There are free-riders in the cryptocurrency ecosystem. At least, that’s the contention of a new paper, shared with CoinDesk on Monday, written by ethereum founder Vitalik Buterin, Microsoft researcher Glen Weyl and Ph.D. of economics at Harvard, Zoë Hitzig. And free-riders pose a problem. Described in the paper, free-riders are people or businesses that profit from the under-provision of public goods. And, on top of that, “the more people [these public goods] benefit the more they will be under-provided.” It’s an issue that plagues development even outside the cryptocurrency space, but the…

Vitalik unveils what he believes will be the solution to the crypto funding problem

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Vitalik Buterin the Ethereum founder has co-authored a white paper that he believes will offer a solution to the crypto funding problem. The paper is titled Liberal Radicalism: Formal Rules for a Society Neutral among Communities. The paper was co-authored with Zoe Hitzig, a Ph.D. of economics at Harvard and Glen Weyl a Microsoft researcher. It points out at a problem that exists on funding crypto projects due to the existence of free riders. Free riders are described as businesses or people that profit from the under-provision of public goods.…

Andreessen Horowitz, Polychain Capital Lead Blockchain Startup’s New $105 Million Funding Round

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Swiss and US-based blockchain cloud computing startup DFINITY has closed a new funding round worth over $100 million from repeat backers including Andreessen Horowitz, it confirmed August 29. DFINITY, which aims to build what it describes as an “Internet Computer,” raised a total of $102 million Swiss francs ($105 million) from partners that also featured blockchain-focused investment outfit Polychain Capital. Both Polychain and Andreessen via its investment fund a16z had previously participated in the startup’s investment, contributing to a $61 million round in February. Having raised a total of just…

Binance Backs $32 Million Funding for Unicorn Founder’s Crypto Stablecoin

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Yet another stablecoin is attracting big investors. Announced Tuesday, the founder behind a $1.4 billion startup unicorn called TMON is revealing he has raised a $32 million seed round to build a stablecoin called Terra. But while a number of startups have deployed stablecoins – cryptocurrencies engineered to track the price of another asset, usually fiat currency – Terra comes with a notable addition: an existing user base. Created by Korean entrepreneurs Danial Shin, who founded and chairs TMON, one of the top e-commerce websites in South Korea, the Terra project is…

Blockchain Startup Closes Multi-Million Dollar Funding Round Led by SoftBank, Baidu

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Blockchain marketing platform Atlas Protocol (ATP) has concluded a seed investment round of several million dollars led by SoftBank China Venture Capital (SBCVC), according to an August 20 press release. The multi-million dollar investment round, whose final amount was not disclosed, also included participation by Baidu Ventures (BV), Danhua Capital, and Fenbushi Digital. Atlas Protocol was formed by Nebulas Labs and the xGoogler Blockchain Alliance (xGBA), with co-founder of Jide Technology and the “first engineer” of Google Adwords Jeremy Zhao, as well as Professor Ronghui Gu of Columbia University, acting…

Airbnb Co-Founder Participates in Almost $23 Million Funding Round for Crypto Startup

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Cryptocurrency trading platform SFOX has announced the closure of a $22.7 million Series A funding round with participation from Airbnb co-founder Nathan Blecharczyk, according to an August 16 press release. Co-founder and partner at Tribe Capital and Social Capital, Arjun Sethi, led the Series A funding round for the U.S.-based cryptocurrency dealer SFOX, with participation from Y Combinator, Khosla Ventures, Digital Currency Group, Blockchain Capital, and Blecharczyk. The press release notes that the cryptocurrency dealer aims its services at “large-scale investors such as funds, family offices, and high-net-worth individuals,” and…

Goldman Sachs Leads $32 Million Funding Round for Enterprise Blockchain Startup Axoni

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Enterprise-focused blockchain startup Axoni has raised $32 million in a funding round led by Goldman Sachs and other high-profile banks and venture capital investors, Forbes reports August 14. The $32 million Series B funding round was led by Goldman Sachs and Nyca Partners, with numerous other investors including Wells Fargo, JPMorgan, Citigroup, and Andreessen Horowitz. The fresh investment brings Axoni’s total financing to $55 million to date. Axoni’s co-founder, Greg Schvey, told Forbes that the round represented not just an injection of capital but a “deep strategic” alliance, given that…

General Electric Participates in Blockchain Startup Xage Security’s $12 Mln Funding Round

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The venture capital arm of General Electric (GE) has joined a $12 million investment round in blockchain startup Xage Security in order to develop its security fabric for industries from energy to building management, a press release confirmed July 23.   The $12 million Series A funding round, led by March Capital Partners, included participation from GE Ventures as well as City Light Capital and NexStar Partners. Xage — which uses blockchain to allow tamper-proof communication between infrastructure and devices in the energy, telecom, utilities, building management, and manufacturing industries…

Crypto Daily News | Block.one Funding, IBM Blockchain, & Boeing Planes

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In today’s edition of Crypto Daily News, we will cover Block.one receiving funding from top execs at PayPal and Bitmain, IBM teaming up with Columbia to launch a Blockchain Research Center, and the airplane maker, Boeing, using blockchain technology. Crypto Daily News: June 17th, 2018 Block.one Gets Funding EOS developer Block.one has secured investments from the crypto-mining billionaire Jihan Wu of Bitmain, and the billionaire PayPal co-founder Peter Thiel. Block.one made the official announcement via a press release on its website yesterday. Block.one’s CEO, Brendan Blumer, made a statement about the…

Bitmain Receives $12 Bln Investment in a Recent Funding Round

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Leading Bitcoin (BTC) mining company Bitmain is now valued at $12 billion following a Series B round of funding, local news outlet Caixin reports July 6. According to Caixin, Bitmain raised between $300 million to $400 million from Sequoia Capital subsidiary Sequoia China, U.S. hedge fund Coatue, and Singapore-based governmental investment fund EDBI. In September 2017, Beijing-based Bitmain received $50 million in a Series A funding round from Sequoia Capital and IDG Capital. In early June, the company’s CEO Jihan Wu said he is “open” to plans to conduct an…