Business Financial News

19.07 / 15:11

business event Blockchain Conference Funding Venture Capital EthCC Crypto VCs share lessons on startup success at EthCC

When bringing a new crypto to market, the fastest way to do so is arguably with the help of venture capital (VC) financing. But such a high-risk, high-reward operation in a rapidly evolving field can carry a large degree of uncertainty. At the EthCC event in Paris, several prominent VCs decided to share their insight on which strategies have worked out for startups.

19.07 / 14:41

business Technology Investments NASDAQ Bitcoin Nasdaq halts launch of cryptocurrency custody service

Global securities marketplace Nasdaq is halting the launch of its own cryptocurrency custody that it previously planned to roll out by the end of the second quarter 2023.

19.07 / 14:41

business privacy Tokens Bitcoin network manta zk Manta Network developer raises $25M in Series A, launches layer 2 for ZK apps

P0x Labs, the cryptographic development team behind Manta Network, has announced that it raised $25 million in a Series A funding round, with leading contributions from Polychain Capital and Qiming Venture Partners. The funding gives the company a $500 million valuation.

19.07 / 14:41

business Blockchain CoinMarketCap Report CoinMarketCap’s H1 2023 report says Q2 was a ‘lost quarter’

Crypto data aggregator CoinMarketCap has released its “According to CMC: Crypto Market Analysis H1 2023” report. Within the report, the coin information website described the second quarter of 2023 as a “lost quarter” due to several factors, including the lack of a strong market narrative compared to the first quarter of the year. A few areas, however, experienced strong growth and resilience, the report notes.

19.07 / 05:27

business regulation FTX Financial Services Financial Australia’s financial regulator cancels license for FTX’s local entity

The Australian financial services regulator has finally canceled the financial license of FTX Australia, the bankrupt crypto exchange’s local subsidiary.

19.07 / 02:13

business Adoption Funding Venture Capital Startups Polychain Capital, Coinfund raise $350M for new crypto funds: Report

Over $350 million has been raised by crypto venture capital firms Polychain Capital and Coinfund, whirespective reported raises of $200 million for a new investment fund and $152 million for a seed fund.

19.07 / 02:13

business Adoption Microsoft Meta Ceo open Meta and Microsoft launch open-source AI model Llama 2

Big Tech firms Meta and Microsoft have teamed up to launch Llama 2, an open-source large language model from Meta that will feature on Microsoft’s Windows and cloud computing platform Azure.

18.07 / 19:23

markets business Blockchain Adoption regulation Bitcoin 2024 Bitcoin rally will lead to "speculative blow-off top” in 2024, Mark Yusko predicts

BlackRock’s application for a Bitcoin exchange-traded fund (ETF) has sparked the beginning of a new crypto bull market, which will go parabolic at some point closer to the halving scheduled for April 2024, according to Mark Yusko, the chief investment officer and founder of Morgan Creek Capital.

18.07 / 17:45

business Adoption defi Payments wallet “When evaluating a fiat-to-crypto on-ramp, three things matter” — Q&A with Uphold

Although the crypto market is growing and evolving, and market players boast various clever payment solutions, there is still ample room for improvement toward broader Web3 adoption. Until last year, decentralized finance (DeFi) constituted a relatively small part of the business world, with many Web3 companies now integrating crypto rails into their business models. Today, the DeFi sector holds over 14,000 decentralized applications (DApps), 51 chains and over 28,000 NFT collections, according to DappRadar. This number doesn’t even consider the companies that gravitate around this ecosystem and have financial operations in crypto to support native Web3 companies.

18.07 / 10:13

business Mining regulation SEC Court Marathon Marathon shareholders file lawsuit against company’s top management

United States-based crypto mining company Marathon Digital is heading to court after its shareholders alleged that its CEO Fred Thiel, alongside other top executives, breached fiduciary duties, unjustly enriched themselves and wasted corporate assets.

18.07 / 09:25

business regulation lending Court Celsius Bankrupt Celsius to spend $24M from GK8 sale on legal expenses

Bankrupt cryptocurrency lending firm Celsius has requested the court to grant relief in the motion related to the distribution of funds from its sale of the self-custody platform GK8.

18.07 / 08:35

business regulation crimes Court Taxes Prison Thodex CEO sentenced to Turkish prison for failure to submit tax documents

Three months after Faruk Fatih Özer — the founder and former CEO of Thodex — was detained in Türkiye, he received a prison sentence of seven months and 15 days for failing to submit documents requested during the trial.

18.07 / 08:35

business Binance Tether Kraken Job Trezor Bitcoin surges Crypto headcount surges over 100% since 2019 despite implosions

Despite several high-profile cryptocurrency implosions, the number of people working in the industry has soared over the past four years.

18.07 / 06:21

business Twitter Social Media Scams Bot Threads copies Twitter again, introduces ‘rate limits’ to combat bots

Mark Zuckerberg’s Twitter alternative, Instagram Threads, has been forced to implement rate limits in response to a growing number of reports citing spam attacks and crypto-shilling bots.

18.07 / 04:05

business Blockchain Apple virtual reality Metaverse Apple’s headset could redefine what being in the metaverse means

The release of Apple’s new mixed-reality headset, Vision Pro, could cause a seismic shift in how users will experience the metaverse, with developers potentially moving away from the absolute isolation of virtual reality.

18.07 / 01:49

business Blockchain Adoption Polygon Banks avalanche swift Cross-Chain TradFi Chainlink launches cross-chain protocol bridging blockchain to TradFi

The development firm behind the Chainlink protocol and its native LINK token has gone live with its cross-chain protocol, aimed at providing interoperability between traditional financial firms and both public and private blockchains.

18.07 / 01:49

business Adoption Ripple XRP SEC coinbase Court Cathie Wood very positive on Coinbase after Ripple court ruling

Cathie Wood, the founder and CEO of ARK Investment Management, said she remains bullish over Coinbase in light of Ripple’s partial victory over the Securities and Exchange Commission on July 13.

17.07 / 19:27

business Binance Bitcoin Regulation Binance cuts back on employee benefits, citing ‘decline in profit’: Report

Global cryptocurrency exchange Binance reportedly cut back on certain benefits to its employees in June amid reevaluation efforts at the firm.

17.07 / 16:33

business Ripple XRP SEC Banks Court Ripple CLO says court ruling could encourage banks to adopt XRP: Report

Stu Alderoty, the chief legal officer for Ripple Labs, has reportedly said United States-based banks may turn to XRP for cross-border transactions following a recent court ruling.

17.07 / 16:33

business Technology Opinion Machine Learning Tech AI startup elon Elon Musk’s new AI startup is as ambitious as it is doomed

Almost nothing is known about Elon Musk’s latest endeavor, an artificial intelligence startup named xAI. But “almost nothing” is still something. And we can glean a lot from what little we do know.

17.07 / 03:51

business Law Ripple XRP SEC Congress Court Ripple case: SEC appeal unlikely as it gains from 'current confusion' — Haun Ventures CEO

A former federal prosecutor turned chief executive of a crypto-focused venture capital fund says she would be “surprised” if the United States securities regulator lodges an immediate appeal against the Ripple case ruling, as it currently benefits from lack of “legal clarity.”

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