Andreessen Horowitz Leads $25M Funding Round for Crypto Lending Startup

Venture capital firm Andreessen Horowitz has led a $25 million funding round for crypto lending startup Compound. On Nov. 14, Fortune reported that Compound, a decentralized finance (DeFi) lending protocol, secured $25 million in an investment round led by Andreessen Horowitz’s a16z, with participation from other top investors including Paradigm, Bain Capital Ventures and Polychain Capital. To integrate with crypto exchanges, custodians, wallets Compound CEO and co-founder Robert Leshner said in an interview with Fortune that the company now has over $150 million in assets on its platform and that…

Hong Kong: Crypto Startup Launches Bitcoin Trading Venue 

Crypto.com, a Hong Kong-based cryptocurrency service provider that offers users lending services, crypto payments through Visa debit card services and more, has announced the launch of its cryptocurrency exchange. The firm says the new crypto trading venue will be initially available to only its retail and institutional customers via its mobile app, trading API and web interface, according to a Finance Magnates report on November 14, 2019. Crypto.Com Exchange Now Live In a bid to promote unending customer loyalty by offering them a complete suite of highly functional cryptocurrency-linked financial…

Venture Capital Firm Andreessen Horowitz Presents Free Crypto Startup School

Andreessen Horowitz, the Silicon Valley-based venture capital firm with $10 billion assets under management, announced the a16z Crypto Startup School, a free seven-week blockchain and crypto learning program. The program will start next year in February. In the announcement, Andreessen Horowitz said that interested individuals will hear from leading technologists and investors in the field of blockchain and cryptocurrenciesm and learn on how to create blockchain or crypto startups. Blockchain and cryptocurrencies are relatively new technologies; however, they are yet spreading rapidly like the wind. There are numerous organizations from…

Police Arrest Founder of Blockchain Startup That Raised Over $80M

Dutch police have arrested the founder of blockchain game development startup Komodore64 that allegedly raised 78 million euros ($86 million) from investors, business-focused news outlet Sprout reported on Nov.  Komodore64 — which launched in June with the objective to create a game platform where transactions are tracked on blockchain — appeared to be a fraudulent scheme that deceived both investors and its own employees. The project and its native crypto coin K64, which have reportedly secured roughly $86 million in investments, have declared bankruptcy. Involvement of a “well-known investment company”…

Singapore’s FinTech Startup M-DAQ Receives Massive Funding from Samsung

M-DAQ will be working with Samsung to bring its cross-border payments and currency trading solutions across South Kore and East Asia. M-DAQ, a Singapore-based FinTech startup has added a new feather to its cap by receiving backing from Samsung Venture Investment Corporation. The Korean tech giant’s investment wing has recently joined other investors in M-DAQ’s pre-series D round. As per the Bloomberg report, the FinTech startup’s valuation has doubled to S$500 million, post the Samsung backing. Its previous valuations stood at S$250 million in November 2015. However, the exact amount…

Hong Kong Startup Launches LSE-Powered Bitcoin Spot, Futures Platform

Hong Kong-based Bitcoin (BTC) spot and derivatives exchange Atom Group has launched amid a tightening of the region’s crypto-regulatory regime. As the South China Morning Post (SCMP) reported on Nov. 7, the Atom Asset Exchange (AAX) uses the Millenium Exchange matching engine developed by the London Stock Exchange and promises prospective clients lower trade latency and trade data transparency. SFC brings security tokens and crypto futures under its remit AAX’s launch comes just one day after Hong Kong’s securities regulator, the Securities and Futures Commission (SFC), released new guidance for…

Startup Paidy Raises $143M from Investors Including PayPal Ventures

Paidy, a Japanese fintech startup that provides instant credit to consumers, has raised $143 million in funding from investors. Japanese consumer instant credit provider Paidy has announced that it raised $143 million in investment capital from institutional investors. The new financing round includes $83 million series C financing extension and debt financing of $60 million. The series C funding included participants such as PayPal Ventures, the Famed Soros Capital Ventures, JS Capital Management and Tybourne Capital Management and an unnamed investor. The financial institutions that initiated the debt financing include…

Meet the Startup That Wants to Connect Linux to the Blockchain

The scalability challenge has become one of the biggest debates in the blockchain space. However, very few people recognize that many current blockchain projects are a variation of Bitcoin and Ethereum, neither of which was designed with scalability in mind. Satoshi Nakamoto deliberately engineered full consensus into the Bitcoin protocol. It creates a vast amount of redundancy when transactions and storage are replicated across the entire network. Vitalik Buterin conceived Ethereum as the next iteration of blockchain beyond cryptocurrencies, one that would allow smart contract programming. Only once the potential…

Russian Startup Turns Aluminium Plant into Bitcoin Mining Facility  

Russia Mining Company (RMC) has taken over the facility of the now-defunct Nadvoitsy Aluminium Plant in the northern Karelia region, which ceased operations in 2018 due to U.S. sanctions. RMC plans to turn the aluminum plant into a mega Bitcoin mining farm that would control 20 percent of the world’s bitcoin (BTC), according to reports on October 29, 2019. RMC Creating a New Bitcoin Mining Hub  With the price of Bitcoin (BTC) now showing positive bullish signs once again, partly due to China’s renewed interest in cryptocurrency and blockchain technology,…

Startup Aims to List Bitcoin Product on Frankfurt, Luxembourg Exchanges

A German startup is attempting to list a Bitcoin (BTC) derivative product on the Frankfurt and Luxembourg stock exchanges. According to German business news daily Handelsblatt on Oct. 29, the startup Iconic has filed a prospectus for regulated trading of a Bitcoin exchange-traded note (ETN), which could become available as soon as the beginning of December 2019.   Iconic said that it will issue an ETN that will offer investors exposure to the seminal cryptocurrency on a regulated marketplace. The ETN will also be issued its own International Securities Identification Number. …