City Venture Financial News

20.04 / 03:09

business Ethereum coinbase security Decentralization BaSe L2 A16z’s hyped-up orange balls revealed to be an L2 rollup client

A series of cryptic tweets depicting orange balls were revealed to be building up hype for a new rollup client for Optimism (OP) called "Magi" from the crypto arm of venture capital firm Andreessen Horowitz (A16z).

19.04 / 06:27

business Law NFT Altcoin Google Apple Court NFT app Rebase co-founder accused of going ‘rogue’ in suit by partner

The co-founder of the nonfungible token (NFT) project Rebase is facing a lawsuit from his apparent business partner accusing him of going “rogue” by stealing $2 million from a joint crypto wallet and ousting an apparent co-founder out of the firm.

13.04 / 04:43

business Investments Report Venture Capital VC funding Low Crypto VC funding hits 2-year low, US firms still favorite: Galaxy Research

Venture capitalist (VC) investment into crypto firms continued to fall in the first quarter of 2023, yet despite the current regulatory turbulence for crypto in the United States, it is still first for the number of firms raising capital according to a new report.

07.04 / 18:17

business Adoption Report Research recovery Bitcoin leads crypto market recovery as regulators turn up heat: Report

March has been a turbulent month for the crypto industry. Bitcoin (BTC) recorded its highest weekly close in 10 months and raised hopes among many that the bear market is over. One of the key drivers of this expectation was a series of banking collapses in the United States. This made investors hope for falling interest rates later this year, despite Federal Reserve Chair Jerome Powell’s insistence that lower rates were not part of the base scenario for 2023.

05.04 / 08:47

business Adoption regulation Funding Venture Capital Banks SFC crypto rules Hong Kong’s crypto rules set a high bar for ‘good reason,’ says SFC advisor

The standards for Virtual Asset Service Providers (VASPs) in Hong Kong are set “incredibly high” as the Securities and Futures Commission (SFC) is wanting the crypto industry to match the same compliance standards as traditional financial firms.

04.04 / 18:09

Blockchain Ethereum Adoption defi Venture Capital Startups Cross-Chain LayerZero raises $120M to expand cross-chain messaging efforts

Cross-chain messaging protocol developer LayerZero Labs has raised another $120 million, according to an Apr. 4 announcement. The company plans to use the capital to increase its headcount and expand its reach into the Asia-Pacific region. The company had previously raised $135 million in March 2022.

04.04 / 01:49

business Adoption ETF Europe crypto ETFs Institutions ‘extremely interested’ in crypto ETFs, but buying has cooled: Survey

Institutional interest in cryptocurrencies hasn’t budged despite the market being down 60% from the all-time highs (ATH), as a majority of asset managers stated they’re “extremely interested” in crypto themed-Exchange Traded Funds (ETFs).

31.03 / 01:01

business Blockchain Adoption defi Tokens Real Estate ‘Killer use case’: Citi says trillions in assets could be tokenized by 2030

Investment bank Citi is betting on the blockchain-based tokenization of real-world assets to become the next “killer use case” in crypto, with the firm forecasting the market to reach between $4 trillion to $5 trillion by 2030.

27.03 / 10:59

business defi Investments Europe European Union European DeFi startups saw 120% increase in VC investment in 2022: Data

2022 was a turbulent year for the crypto space, from an ongoing bear market and high-profile collapses of some of the industry’s most prominent players, like Terra and FTX. Despite the setbacks, venture capital (VC) investors continued to show support for crypto startups.

26.03 / 06:13

Government Adoption Venture Capital Bitcoin businesses Businesses should hold two payrolls 'worth of cash' in crypto: Tim Draper

American venture capital investor and entrepreneur Tim Draper advised founders to keep at least two payrolls worth of cash in Bitcoin (BTC) or alternative cryptocurrencies,in response to the uncertainty created by the collapse of Silicon Valley Bank (SVB).

25.03 / 09:29

business Gaming Funding Metaverse stocks Blockchain Game Drop reports valuation Animoca denies reports of $200M cut to Metaverse fund and valuation drop to $2B

Venture capital firm and Web3 game developer Animoca Brands has refuted claims that it scaled back its Metaverse fund target by $200 million, or 20% to $800 million amid volatility in the crypto market and instability in the banking sector.

24.03 / 20:21

business Venture Capital consequences bail Venture capitalists bail on Zipmex bailout, company warns of consequences: Report

Cryptocurrency exchange Zipmex has reportedly not received the latest payment under its buyout agreement with venture capital firm V Venture. The exchange has sent a letter to the firm warning that it will have to begin liquidating one of its units without that money.

23.03 / 05:33

business regulation Venture Capital FTX Court Bankruptcy Fried Backed FTX seeks to claw back $460M from Bankman-Fried-backed VC firm

Bankrupt crypto exchange FTX is seeking to recover $460 million of allegedly misappropriated customer funds from venture capital (VC) firm Modulo Capital, which received a sizeable investment from Alameda Research last year.

21.03 / 19:15

business Web3 Funding Venture Capital DAO Anonymous DAO tomi raises $40M for 'surveillance-free' internet

Alternative internet developer tomi has raised $40 million from venture capital firms as part of a broader effort to lure content creators to its decentralized World Wide Web alternative.

15.03 / 04:03

COST UPS Provident Ripple CEO SVB SVB's failure will have a ripple effect across technology 'for years to come'

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13.03 / 19:43

UPS Waves JPMorgan Citigroup Chase Why regulators seized Signature Bank in third-biggest bank failure in U.S. history

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12.03 / 12:13

business Adoption Investments Venture Capital Banks Silicon Valley SOLIDARITY Over 100 VCs, investors voice solidarity with Silicon Valley Bank

As the 40-year-old banking institution, Silicon Valley Bank (SVB), winds down operation, numerous venture capitalists and investors joined hands and decided to cushion the impact in case the bank “were to be purchased and appropriately capitalized.”

12.03 / 04:53

regulation Venture Capital Bank of England Silicon Valley Startups Silicon Valley Bank's UK branch shut down by Bank of England

The Bank of England (BoE) has halted the operations of Silicon Valley Bank’s U.K. branch (SVB UK), stating that it has a “limited presence” and no “critical functions” supporting the financial system in the United Kingdom (UK).

11.03 / 20:53

business Blockchain Venture Capital Sky Mavis Failed tech bank SVB held over $5B for prominent crypto VCs: Report

According to a report that began circulating on March 11 in the aftermath of the collapse of Silicon Valley Bank (SVB), prominent blockchain venture capitalists (VCs) have over $6 billion worth of assets held by the now-defunct financial entity. These include $2.85 billion from Andreessen Horowitz (a16z), $1.72 billion from Paradigm and $560 million from Pantera Capital.

10.03 / 18:17

UPS Citi Provident Platform SVB Venture capitalists urge startups to withdraw funds from crisis-laden Silicon Valley Bank

Venture capital firms on both sides of the Atlantic have been urging their portfolio companies to move money out of embattled lender Silicon Valley Bank, deepening fears of a run on the tech-focused bank.

07.03 / 11:53

Blockchain cryptocurrency Provident NASDAQ Platform tracking Tracking crypto funding: Top 7 projects raising capital in a bear market

Despite the prevailing high-interest rates and bearish market sentiment, Venture Capital (VC) funding has continued to flow to the crypto industry.

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