Tag: Million

SEC Charges Stoner Cats With Alleged Unregistered $8 Million Securities Sale In NFT Crackdown

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In a recent move that intensifies the Securities and Exchange Commission’s (SEC) crackdown on the Non-Fungible Token (NFT) sector, the SEC has charged Stoner Cats 2 (SC2) with conducting an “unregistered offering of crypto asset securities.”  The charges specifically target Stoner Cats’ sale of non-fungible tokens, which raised approximately $8 million from investors to finance the production of an animated web series. SEC’s Legal Earthquake Hits NFT Market Once Again  The SEC order reveals that on July 27, 2021, SC2 sold over 10,000 NFTs to investors at approximately $800 each,…

X Rival Social Networking App Bluesky Now Has 1 Million Users

Although Bluesky crossed one million downloads a few months ago, not all users who downloaded the app had accounts as access is restricted. Social networking service Bluesky has now hit a million users. The app, which originally spun out of Twitter (now known as X), officially hit this milestone, according to a recent post. A strategy and operations personnel at Bluesky, Rose Wang made a post on X announcing the news. According to an image posted by Wang, Bluesky has 1,000,055 users. Bluesky has deliberately restricted the number of users the platform…

Crypto Exchange CoinEX Reportedly Hit By Massive Hack, Losses Exceed $27 Million

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In a concerning development, popular crypto exchange CoinEx is believed to have fallen victim to a suspected hack, resulting in significant losses from its Ethereum (ETH), TRON (TRX), and Polygon (MATIC) hot wallets. The incident, which unfolded on Tuesday, has sparked an ongoing investigation into the security breach. Alarming Depletion Of CoinEx ETH Reserves According to reports by Colin Wu, a prominent cryptocurrency journalist, CoinEx reportedly lost a staggering 4,946 ETH and 354,762 TRX as part of the ongoing drain from the exchange’s wallets.  The total value of the funds lost…

Instacart Aims to Raise $616 Million in Upcoming IPO

As a publicly traded company, Instacart will need to navigate fierce competitions. Instacart, the popular on-demand grocery delivery and pickup service has submitted an updated filing for its upcoming Initial Public Offering (IPO), revealing its ambition to raise up to $616 million in fresh capital alongside existing shareholders. Instacart IPO: Pricing Strategy In its updated filing, Instacart disclosed its intention to set an offer price for its IPO within the range of $26 to $28 per share. This pricing range is significant, as it not only values the company but…

Animoca Brands Raises $20 Million for Its Mocaverse Project Expansion

Within the funding round, Animoca Brands issued Simple Agreements for Future Equity (SAFEs) priced at A$4.50 each and offered a free-attaching utility token warrant on a 1:1 dollar basis to the participants.  Hong Kong-based game software company Animoca Brands Corporation Ltd has raised as much as $20 million (approximately A$31.3 million) in a funding round led by CMCC Global, one of Asia’s first venture capital investors focused solely on blockchain technology. Animoca Brands is planning to use the funds raised to expand its Mocaverse project which aims to bring together the company’s…

MakerDAO Explores Tokenized T-Bills With $100 Million Allocation Plan

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Steakhouse, a decentralized autonomous organization (DAO)-focused financial advisory firm, in collaboration with Phoenix Labs, a research and development company, has put forth a proposal urging the MakerDAO community to consider allocating up to $100 million from its reserves for investment in tokenized US Treasury Bill (T-Bill) products.  The proposal, currently in the discussion phase, aims to explore new avenues for financial innovation within the decentralized finance (DeFi) ecosystem. Unlocking Liquidity Efficiency for MakerDAO?  MakerDAO, renowned as the issuer of the DAI decentralized stablecoin, has already made significant investments in US…

HODLers On Network Now Exceed 5 Million

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On-chain data shows Litecoin has reached another milestone as the total number of HODLers on the network now exceeds five million. Litecoin Long-Term Holders Have Continued To Rise In Number Recently According to data from the market intelligence platform IntoTheBlock, LTC has seen its long-term holder count hit a new record this week. The firm defines “long-term holders” (LTHs) or HODLers as investors holding onto their coins since at least one year ago. Note that this cutoff for the LTHs differs from what some other analytics platforms use, usually around…

Binance To Refund Users $1 Million In USDT Following CyberConnect Incident

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Binance, one of the leading cryptocurrency exchanges, has recently decided to refund users $1 million USDT (Tether) following an incident related to the CyberConnect (CYBER) token.  The refund aims to compensate users affected by a price discrepancy on listed CYBER tokens due to liquidity constraints on the Korean cryptocurrency exchange Upbit. Binance Addresses CyberConnect Woes As described by Binance, the incident unfolded when a liquidity crunch on CYBER cross-chain bridges hindered transactions on Upbit. This led to a price disparity between Upbit and other exchanges, attracting arbitrageurs who borrowed CYBER from…

Ethereum Whales Send $486 Million To Coinbase, Time To Exit?

Ethereum has seen the price of its native token ETH drop alongside Bitcoin as the bear market continues to gain group. This has triggered fear among investors, leading to high selling pressure on the digital asset. Even the Ethereum whales are now dancing to the tune of the bear market as they have begun to send large amounts of ETH to centralized exchanges. Ethereum Whales Push Toward Selling A recent Santiment report posted on the X (formerly Twitter) platform has shown that Ethereum whales may be looking to exit stage…