Tag: Parent

Skyweaver’s parent company secures $40M in Series A funding

Horizon Blockchain Games, the developer behind the Skyweaver game, has raised $40 million in Series A funding, the company disclosed on Oct. 4. The round was led by Brevan Howard Digital and Morgan Creek Digital, with additional participation from Polygon, Take-Two Interactive, Ubisoft, Xsolla, The Sandbox’s co-founder Sebastien Borget, Sky Mavis and Axie Infinity co-founder Aleks Larsen, among other investors.  With the funds, Horizon plans to invest in Web3 products and scale its operations. Specifically, the company wants to grow its developer stack and smart wallet Sequence, expand the content…

Skyweaver’s parent company secures $40M in Series A funding

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Horizon Blockchain Games, the developer behind the Skyweaver game, has raised $40 million in Series A funding, the company disclosed on Oct. 4. The round was led by Brevan Howard Digital and Morgan Creek Digital, with additional participation from Polygon, Take-Two Interactive, Ubisoft, Xsolla, The Sandbox co-founder Sebastien Borget, Sky Mavis and Axie Infinity co-founder Aleks Larsen, among other investors.  With the funds, Horizon plans to invest in Web3 products and scale its operations. Specifically, the company wants to grow its developer stack and smart wallet Sequence, expand the content…

21Shares Parent Firm Becomes Switzerland’s Crypto Giant As Gets Valued At $2B

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The popularity of crypto sector is climbing higher daily. More companies are diving into the industry, given its high potential for making more profits than most conventional assets. These emerging firms notably impact the system by providing unique crypto-related products and services. For the success of most of their projects, some of these crypto service firms engage in fundraising. These processes have become one of the famous activities that occur in the crypto industry. Such rounds usually help them generate most of the required funds to facilitate their ongoing or…

Crypto Investment-Product Firm 21Shares’ Parent Raises $25M, Pushing Valuation to $2B

The round, led by alternative investment firm Marshall Wace, comes as the crypto market faces what some observers are calling a crypto winter. The total cryptocurrency market cap has slumped to less than $1 trillion from about $3 trillion in November and bitcoin, the largest cryptocurrency, has dropped 59% this year. Firms grappling with lower cryptocurrency prices have been forced to cut costs, with casualties including investment fund Three Arrows Capital and lender Celsius Network. Source

Snapchat’s parent company shutters Web3 division amid layoffs

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Snap Inc’s CEO Evan Speigel announced in a note on Friday that the company had made the difficult decision to reduce the size of its workforce by approximately 20%.  The note said that this round of layoffs comes after the company experienced slow revenue growth, a slump in stock prices, and a general lag behind its financial targets. Speigel shared: “Our forward-looking revenue visibility remains limited, and our current year-over-year QTD revenue growth of 8% is well below what we were expecting earlier this year.” Snap Inc. will now undertake the…

Blockchain.com wins registration next to parent firm on the Cayman Islands

Blockchain.com, one of the oldest Bitcoin (BTC) infrastructure firms, is strengthening regulation and compliance efforts by securing registration in the Cayman Islands. The blockchain wallet and cryptocurrency exchange platform Blockchain.com is expanding operations in the Cayman Islands after receiving registration from the Cayman Islands Monetary Authority (CIMA). Issued on July 6, the registration officially authorizes Blockchain.com to provide custodial services, operate an exchange, and offer over-the-counter crypto brokerage services for institutional clients under the CIMA’s regulatory framework. Blockchain.com’s chief business officer Lane Kasselman pointed out that the Cayman Islands is…

Facebook Parent Meta Loses $2.8B on Metaverse Division in Q2

Meta Platforms (FB) posted a second-quarter loss of $2.81 billion in its Facebook Reality Labs (FRL) division, which comprises its augmented and virtual reality operations, according to its earnings report released Wednesday. That was down slightly from its loss of $2.96 billion in the first quarter and better than analyst estimates for a loss of $3.67 billion for the division for the quarter, according to FactSet. Source 28BdivisionFacebookLosesMetaMetaverseParent CryptoX Portal

India’s Crypto Industry Advocacy Body Is Disbanded by Parent: Sources

Reasons for the decision included a lack of maturity among crypto founders when dealing with government, inaction around critical matters despite prompting by India’s parliamentary finance body, and the creation of a counterproductive environment, a person with knowledge of internal consultations said. The IAMAI felt it was risking a reputation and credibility earned over years of working with new industries and it was time the crypto industry recognized it needed to change its approach, a person familiar with the exchanges between industry and the body said. Source

Genesis Trading CEO confirms 3AC exposure, parent company helps plug losses

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Digital Currency Group’s market maker and lending firm Genesis Trading has confirmed that it had investment exposure in the now-liquidated Three Arrows Capital (3AC). The insolvency and subsequent liquidation order of the embattled company sent shockwaves through the cryptocurrency space last week amid an ongoing downturn across crypto markets. A major talking point was the stake other prominent companies had in the now-defunct cryptocurrency hedge fund and the ongoing fallout. Genesis Trading is among prominent lending firms that had exposure to 3AC, which has now been confirmed by CEO Michael…