The Supreme Court of Georgia, the highest judicial authority of the U.S. state of Georgia, has disbarred attorney Diana McDonald on June 11 for misappropriating $4 million from a bitcoin escrow transaction. In 2019, McDonald acted as a fiduciary for a client involved in a Bitcoin deal that failed to deliver the promised cryptocurrency. Despite […] Original
Venture capital firm Paradigm has reportedly raised $850 million for its third fund, supporting early-stage cryptocurrency initiatives led by Coinbase co-founder Fred Ehrsam and ex-Sequoia Capital partner Matt Huang. Increased Venture Capital Interest In The Industry Paradigm’s previous investments include prominent projects like decentralized exchange (DEX) Uniswap and Optimism, a scaling solution for the Ethereum blockchain. According to Bloomberg, with the capital raised in the latest funding round, Paradigm aims to contribute to early-stage crypto work and plans to prioritize such projects in the future. Related Reading The latest fundraising…
Nuffle Labs, a contributor to the Near Protocol and Ethereum, has secured $13 million in a funding round led by Electric Capital. The investment aims to enhance its modular infrastructure services across various blockchain layers, promising cost-efficient solutions and rapid data finality. Nuffle Labs Bags $13 Million for Modular Blockchain Expansion The Nuffle Labs funding […] Source CryptoX Portal
The Egyptian fintech startup Sahl has raised $6 million through a Series A funding round. The startup is set to use the capital raised to strengthen its local operations and fund its expansion into the Kingdom of Saudi Arabia. Sahl’s Strategic Partnerships The Egyptian fintech startup Sahl has raised $6 million through a Series A […] Source CryptoX Portal
Ethereum (ETH) bulls got a taste of fire on June 11th as the altcoin’s derivatives market witnessed a dramatic surge in long liquidations. According to data from Coinglass, this event marked the highest level of long liquidations since May 23rd, signifying a significant correction for traders who bet on rising prices. Related Reading Crimson Chart: Long Positions Liquidated Overconfident investors piled into long positions, essentially placing a wager that Ethereum’s price would climb. However, the market had other plans. An unexpected price drop sent shivers down the spines of these…
Pixelverse, a developing entertainment studio and game ecosystem, has secured $5.5 million in a private funding round led by prominent Web3 venture capital firms. The funds are intended to support the growth of Pixelverse’s gaming platform, which has seen significant user engagement since its launch. Pixelverse Secures $5.5 Million Pixelverse‘s recent funding round saw participation […] Source CryptoX Portal
The latest Glassnode onchain report reveals that major labeled entities collectively hold approximately 4.23 million bitcoin, representing over 27% of the adjusted circulating supply. This significant concentration of BTC holdings underscores the prominent role these entities play within the bitcoin ecosystem. Institutional Holdings: ETFs, Miners, Government, and Exchanges Control 4.23 Million Bitcoin According to Glassnode’s […] Original
U.S. spot bitcoin exchange-traded funds (ETFs) witnessed $200.31 million in outflows on Tuesday following the $64 million in outflows the day prior. Grayscale’s Bitcoin Trust (GBTC) shed the most with a $121 million reduction. Spot Bitcoin ETFs Lose Ground Spot bitcoin ETFs have recorded two days of outflows so far as Tuesday’s trading sessions saw […] Original
The cryptocurrency exchange Lykke confirmed on June 10 that it fell victim to a breach, resulting in a hacker stealing digital assets valued at $22 million. Lykke stated that it had shut down the affected systems to contain the damage and assured users that their funds remained secure. Lykke Faces Accusations of Delayed Breach Confirmation […] Source
The IOTA Foundation has awarded $2.36 million in grants to 20 blockchain projects as part of its ongoing IOTA Grants program, according to the IOTA Foundation Blog. The initiative aims to foster innovation within the IOTA ecosystem by providing financial support to a diverse range of projects. Grant Program Overview Since the last update, the IOTA Grants program received 82 applications, out of which 20 were selected for funding. The total awarded amount stands at $2,365,000, supporting projects across various categories including decentralized exchanges (DEX),…