City Cypher Financial News

Blockchain mining firm Phoenix Group PLC has successfully acquired mining equipment valued at $187 million from Bitmain Development PTI Limited.

FanTV, an AI-powered content platform on the Sui blockchain, has secured an additional $3 million in strategic investment. This new funding, backed by Mysten Labs, Cypher Capital, CoinSwitch Ventures and Illuminati Capital, will fuel FanTV’s mission to revolutionize digital content creation with AI-driven tools.

The SynergyLabs Accelerator Program, the first Web3 ICP accelerator in Thailand, is uniquely designed to provide comprehensive support to blockchain projects across all stages of maturity. Its two-phase structure ensures that projects of varying ambition levels receive the right mix of guidance and resources to thrive.

The listing announcement comes shortly after the project successfully onboarded over 2 million downloads worldwide for its flagship game, Bubble Rangers. The company has closed an oversubscribed funding round led by Animoca Brands, Polygon Ventures, Cypher Capital, Ed3n Ventures, and MH Ventures. 

Polygon-backed Humanity Protocol has secured strategic investments from over 20 crypto venture capital firms for its privacy-centric Web3 identity solution. Hashed, CMCC, Cypher Capital, Foresight Ventures, and Mechanism Capital are among the few crypto VCs that invested in Humanity Protocol, as per a press release shared with CryptoNews.

Hong Kong-based Web3 social platform beoble has closed its seed funding round, bringing in a total of $7 million from a diverse group of investors including Hashkey, Samsung, DCG, DWF Ventures, Nomura Laser Digital, Cypher Capital, and Blockchain Founders Fund.

UAE-based blockchain mining firm Phoenix Group said it has seen a 50% growth in net income and a “substantial increase” in year-on-year sales following its initial public offering (IPO) on the Abu Dhabi Stock Exchange.

Bitcoin Ordinals-based development platform Tap Protocol has raised over $4 million in an oversubscribed round, promising more “big” news to come.

The TON Foundation, the entity which runs The Open Network (TON) blockchain, has unveiled a new accelerator program for emerging projects, allocating up to $25 million for supported projects this year.

[content][quote]Big Story[/quote][title]Web3 Platform Few and Far Raises $10.5 Million in Funding Round[/title][body]British Virgin Islands-based digital Collectibles web3 platform Few and Far on Friday announced that it has raised $10.5 million in a funding round led by Pantera Capital, a blockchain investment firm. The funding round also included other prominent investors such as Cypher Capital, Huobi Ventures, Hypersphere, Metaweb, Mantis Partners, and K5 Global. According to the company, the new funds will be used to expand the platform's capabilities, enhance user experience, and increase the number of web3 developers. IP owners are also expected to benefit from the platform, which provides an all-inclusive suite of developer tools to carry out everything related to next-generation digital collectibles. Details here.[/body][/content]

Web3 game publisher Fenix Games raised $150 million in funding to acquire, invest and distribute blockchain games. The fund will be used to create a game publishing company specifically for mainstreaming blockchain games.

The ever-growing Web3 space is continuing to find supporters in the market to make sure that it prospers into the next big thing. In fact, this is one space that is driven by the likes of Fantom.

crypto market is in a tight bear hug and market mavens believe that crypto winter is likely to last longer than what was expected. The gloom in the crypto market has turned firms operating in the space risk aversive. Many of them are looking to trim their payroll size in order to conserve funds amid a freefall in the digital token market. Not only this, even stringent taxations and regulatory frameworks are hurting crypto players. The pessimism has affected deal size and volumes in the crypto industry.

Global Investors Show Huge Interest In Indian Web3 Start-Ups

Cypher is also planning to open a "crypto, blockchain and digital asset hub" in Dubai.