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The crypto market will probably see “a few more” meltdowns similar to what happened with the Terra (LUNA) ecosystem and crypto hedge fund Three Arrows Capital, argues Pantera Capital CEO Dan Morehead. However, according to him, the majority of the contagion from current meltdowns has already been priced in.

crypto winter — one with some unwelcome local twists. With token prices plummeting, customers unable to transfer money to their accounts and a dreaded transaction tax on cryptocurrencies just around the corner, exchanges like Binance-backed WazirX have put expansion plans on the back burner. “We have cut down all our non-critical costs,” said Rajagopalan Menon, WazirX’s vice president. “We are hiring only critical hires, we aren’t spending money at all. It’s literally crypto winter here,” he said, using industry jargon for an extended bear market.

Indonesia's Pintu was backed by several investors who helped the cryptocurrency exchange raise $113 million in a Series B funding round, The Block reported.

Indonesian crypto asset platform Pintu announced the closure of a $113 million Series B funding round participated by four prominent investors Pantera Capital, Intudo Ventures, Lightspeed and Northstar Group. 

FTX CEO Sam Bankman-Fried did a lot of talking at the United States Commodity Futures Trading Commission (CFTC) staff roundtable on non-intermediation Wednesday. He fielded questions and issues from 31 industry professionals about the FTX.US application to offer clearing of margined products, including crypto-based products, without a futures commission merchant (FCM) intermediary. 

David Yaffe-Bellany and Erin Griffith (Circuits)

Several major backers of Terra (LUNA) and its failed algorithmic stablecoin terraUSD (UST) spoke out about last week’s dramatic events this Wednesday, after staying largely silent since the collapse happened 10 days ago. On the same day, Do Kwon’s plan for a new Terra blockchain was put to vote.

Mike Novogratz, the billionaire founder of crypto asset management firm Galaxy Digital, has told his followers that his LUNA-inspired tattoo will serve as a reminder to remain humble in the world of venture capital investing. 

Major Terra (LUNA) backer Mike Novogratz of Galaxy Digital is still largely silent on the downfall of LUNA and the terraUSD (UST) algorithmic stablecoin, while some other institutional investors have put out vague statements that called the incident “hell for our entire community” and “incredibly humbling.”

It appears that some of the high-profile crypto fund managers have less of a crystal ball than some may want to believe.

Web3 gaming and entertainment company Metatheory founded by Twitch co-founder Kevin Lin has raised $24 million in a Series A funding round on Monday.

Historically, decentralization seemed to be the motive behind people adopting cryptocurrencies. However, the drastically-changing scenario in the traditional market is pushing people to view crypto tokens as serious long-term investments.

The performance of the King coin hasn’t been in the best of spirits lately, especially given its position of extreme volatility in the last few weeks. However, despite the constant state of war that Bitcoin (BTC) has been in, Dan Morehead, CEO of Pantera Capital, felt otherwise.

Around USD 70bn is traded in the bitcoin (BTC) market every day, meaning that the market is too large for any single actor to manipulate, crypto hedge fund Pantera Capital’s CEO Dan Morehead said, explaining his firm’s strategy of focusing on altcoin investing.

Bitcoin and other major altcoins were trading steady on Tuesday, after selloff a day earlier. The price action looked pretty tame and major crypto tokens remained rangebound. Barring the dollar-pegged stablecoins and Dogecoin, all other crypto tokens were trading higher on Tuesday. Terra topped the gainers with a 14 per cent rise, followed by Bitcoin, Ethereum and XRP, which rallied about 2 per cent each. The global cryptocurrency market cap was trading higher at the $1.89 trillion mark, jumping about 2 per cent in the last 24 hours. The total cryptocurrency trading volume zoomed about 60 per cent to $96.13 billion.

Mumbai: Crypto trading exchange CoinDCX has raised $135.9 million (about Rs 1,000 crore) from investors led by Pantera Capital and Steadview Capital, doubling its valuation to $2.15 billion in less than a year to become the most valued crypto trading platform in India. The funding comes in the backdrop of crypto exchanges facingnewly introduced taxation rules in India. CoinDCX and its peers, like WazirX and CoinSwitch Kuber, have seen their volumes plummet to new lows this month due to restricted access to modes of depositing money for users. According to the company, Pantera Capital and Steadview Capital infused about half of the funds in the latest round, which also saw participation from Kingsway Capital, DraperDragon, Republic, and Kindred Ventures.

Investments in the crypto industry's infrastructure seem to be a lucrative opportunity, as another crypto giant might go public this year, while one exchange boosted its valuation sharply. 

The past seven days have reminded me of how lucky I am to have forged a career in the Bitcoin (BTC) and cryptocurrency industry. Cointelegraph sent a contingency of reporters to the Bitcoin conference in Miami, where we got to chop it up with billionaires, business leaders and hedge fund managers. I had the privilege of sitting down with Canadian businessman and Shark Tank star Kevin O’Leary, who actually revealed most of his crypto portfolio. 

Crypto hedge fund giant Pantera Capital is set to close a blockchain fund next month that is backed by around $1.3 billion worth of capital.

After a 50% decline from the top, the bear market in bitcoin (BTC) and crypto more broadly is probably over for now, and a new “massive rally” is likely to happen within the next year, crypto hedge fund Pantera Capital’s CEO Dan Morehead has said.

On Friday, a hacker targetting crypto customers’ data discovered a vulnerability in the client relationship management (CRM) platform Hubspot, making off with customer data from firms such as BlockFi, Swan Bitcoin, and Pantera Capital - and all three companies have shared steps customers can take to help ensure the safety of their data and funds.