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Theta Labs, a blockchain-based video delivery network, has secured $175 million in funding to support various cryptocurrency venture capital firms as the industry experiences a resurgence. This funding round was led by venture capital firm Sumeet Singh, with participation from other notable investors such as Samsung NEXT, Binance, and Blockchain Ventures. The cryptocurrency sector has [...]
Bitcoin mining company Bitfarms secures financing from Macquarie Bank Bitfarms, a prominent player in the Bitcoin mining sector, has successfully secured a debt facility from Macquarie Bank. This strategic move aims to bolster Bitfarms’ operations and expand its mining capacity. The financing agreement with Macquarie Bank underscores Bitfarms’ commitment to staying at the forefront of [...]
The post Bitfarms, Bitcoin Mining Giant, Secures $300M Loan from Macquarie appeared first on Crypto Breaking News.
Meanwhile, a blockchain startup, has successfully raised $40 million in funding for its innovative Bitcoin life insurance product. The company aims to revolutionize the insurance industry by offering policies that protect against the risks associated with holding cryptocurrency assets. The funding round was led by prominent investors who recognize the potential of blockchain technology to [...]
The post Meanwhile secures $40 million funding to offer Bitcoin life insurance in economies vulnerable to inflation appeared first on Crypto Breaking News.
APX Lending, a leading blockchain-based lending platform, has received exemptive relief from the Canadian Securities Administrators. This decision allows APX Lending to operate its lending platform without needing to register as a securities dealer in Canada. The Canadian Securities Administrators granted this relief after determining that APX Lending’s lending activities do not fall under the [...]
The post APX Lending Secures Exemptive Relief from Canadian Securities Administration to Boost Growth appeared first on Crypto Breaking News.
Sovryn, a Bitcoin-based DeFi protocol, has today announced that it secured $5.4 million in its latest funding round led by General Catalyst. The funds will be directed towards expanding Sovryn’s global financial operating system for providing individual self-sovereignty and financial autonomy to people around the world.
Besides General Catalyst, the other investors who participated in the funding round include Collider Ventures, Bering Waters, Bollinger Investment Group, and Balaji Srinivasan.
Sovryn’s Zero protocol public launchThe funding round came ahead of the public launch of Sovryn’s Zero protocol, which is a highly innovative lending product.
Zero will allow users to take out loans at 0% interest using bitcoin (BTC) holdings as collateral. The loans will also have no repayment or maturity dates. Users will decide when to pay them back if ever they want to repay.
The waitlist for access to the Zero protocol is already open.
Growing appetite for traditional investors to get involved in DeFiSovryn’S funding round that attracted traditional investors highlights the rapidly growing appetite from traditional investors to get involved in Bitcoin and decentralized finance (DeFi) despite the recent dramatic downturn of the crypto market. The funding round demonstrated the confidence that investors have in the crypto space in general.
According to General Catalyst managing director Kyle Doherty:
“We believe the team at Sovryn has the technical ability and community to build products that will actually fulfil the promise of DeFi by bringing it to the dominant network, Bitcoin. We are philosophically aligned with the goals of the Bitcoin and Sovryn networks to empower people, promote individual freedom, and achieve broader financial inclusion.”
The funding round was voted for and approved through a community governance vote on the Sovryn platform in a proposal named ‘The Sovryn Improvement Proposal (SIP).’ The governance style adopted by Sovryn is referred to as Bitocracy within the protocols ecosystem and it is geared towards ensuring that no entity makes major decisions or changes on the system independently.
In March 2021, investors including Anthony Pompliano, AscendEX, Gate.io, DeFi Technologies, Cadenza (a BitMEX-affiliated venture fund), Collider Ventures, Blockware Solutions, Monday Capital and Greenfield One participated in another Sovryn funding round.
What is Sovryn?Sovryn is a leading Bitcoin-based fully community-owned and governed DeFi platform. Being built on Bitcoin, the protocol uses BTC as its primary token. It was launched a little over a year ago.
Sovryn delivers decentralized and autonomous finance at scale to bridge the gap between Bitcoin and the rest of the smart contract world for individuals and projects who want to access finances without being at the mercy of governments and intermediaries.
Sovryn offers a selection of financial services including sport and margin trading, liquidity pools, and borrowing and lending. It has so far seen a total of $1,552,421,305 spot traded, $112,131,176 margin traded, and $322 million borrowed and lent on the platform.
The post Sovryn secures $5.4M in latest funding round led by General Catalyst appeared first on Invezz.
Tesla and Spacex CEO Elon Musk has secured $7.139 billion in new financing commitments to fund his acquisition of Twitter, including from several pro-crypto companies. Cryptocurrency exchange Binance, for example, has committed to invest $500 million in the social media platform alongside Musk. Crypto-Friendly Companies Join Elon Musk to Buy Twitter Tesla CEO Elon Musk […]
Bitwise, a leading cryptocurrency fund manager, has successfully raised $70 million in funding for its investment team, Onchain Solutions. This substantial investment will bolster the team’s capabilities and expand their reach in the ever-evolving crypto market. The funding round was led by prominent investors who recognize the potential of Onchain Solutions’ unique approach to navigating [...]
The post Bitwise Secures $70 Million Investment to Enhance Team and Develop Onchain Solutions appeared first on Crypto Breaking News.
Zach XBT Unveils Lazarus Group Involvement in Bybit Hack; Arkham Bounty Program Cryptocurrency expert Zach XBT has recently made a breakthrough in identifying the notorious Lazarus Group as the culprits behind the recent Bybit hack. Through his extensive investigation, Zach XBT was able to trace the origins of the attack back to the Lazarus Group, [...]
The post ZachXBT Exposes Lazarus Group as Masterminds of Bybit $1.4B Hack, Secures Arkham Bounty appeared first on Crypto Breaking News.
Security firm BlockAid secures $50 million in Series B funding round BlockAid, a leading cybersecurity company, has successfully raised $50 million in their latest Series B funding round. This significant investment will enable the company to expand its operations and further develop their cutting-edge security solutions. The funding round was led by prominent venture capital [...]
The post Blockaid’s Security Platform Secures $50 Million in Series B Funding appeared first on Crypto Breaking News.
MetaPlanet, a Japanese tech company, recently announced that it has secured JPY 4 billion in bonds to invest in purchasing Bitcoin. This move signifies the growing acceptance and adoption of cryptocurrencies in the traditional financial market. The decision to raise this substantial amount in bonds demonstrates MetaPlanet’s confidence in the potential of Bitcoin as a [...]
The post Metaplanet Secures 4 Billion JPY in Interest-Free Bonds for Bitcoin Investments appeared first on Crypto Breaking News.
The price of CryptoGPT jumped more than 12% on Monday, hitting highs of $0.075. The uptick in the value of the native GPT token came as the market reacted to the latest crypto news for the artificial intelligence related cryptocurrency. At the time of writing, the price of GPT was around $0.073, still up roughly …
<p>The post CryptoGPT price up 12% as AI platform secures $10M funding and Bithumb lists GPT first appeared on CCNC | Cryptocurrency Newscast.</p>
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