Stake Financial News

Bankers of now-defunct cryptocurrency exchange FTX are looking to offload their stake in AI startup Anthropic. 

The rise of liquidation of industry-leading cryptocurrency platforms and institutions is set to be a recurring negative trend, with Voyager and Bittrexr being the latest addition.

Less than a year after proof-of-stake (PoS) became the consensus mechanism for the Ethereum blockchain — the industry’s largest blockchain network — researchers have found that PoS can complement Bitcoin. 

Binance’s US-regulated branch Binance.US is reportedly seeking ways to reduce Binance founder Changpeng Zhao’s stake in the company due to concerns over a regulatory crackdown on Zhao’s international business empire.

Crypto exchange Binance US and its founder Changpeng Zhao (CZ) are reportedly looking for ways to reduce his stake in the firm, amid harsh scrutiny from United States federal regulators over the past year. 

Thomas Wagner’s multi-billion dollar hedge fund Knighthead Capital Management has acquired a significant stake in the English football club Birmingham City FC.

Unlike restricted proof-of-work (PoW) blockchains like Bitcoin, the Polkadot blockchain allows cross-blockchain transfers of any asset or data, facilitates more transactions per second and needs less infrastructure.

The Polygon network, formerly the Matic network, is an Ethereum-scaling protocol that reduces cost and embeds high security. In a short span, Polygon has gained a high level of traction.

Cardano is one of the largest layer-1 blockchain solutions by market capitalization. The project is being driven by Input-Output (a Charles Hoskinson company), Emurgo and the Cardano Foundation. The chain was named after the Italian mathematician Gerolamo Cardano and its token ADA is named after the 19th-century mathematician Ada Lovelace.

Recently Tron [TRX] launched Stake 2.0, a new staking mechanism aimed at minimizing the complexities of staking and resource management in the older system. Under the new system, undelegating and unstaking functions will be decoupled, and users will be free to unstake their assets at any time.

Tron [TRX] made a major announcement on 7 April regarding the launch of Tron Stake 2.0. The new staking mechanism went live after Tron’s No. 84 committee proposal got passed. 

Binance has reportedly rejected an offer by crypto entrepreneur Justin Sun to purchase his stake in cryptocurrency exchange Huobi, citing ties to mainland China.

Billionaire crypto entrepreneur Justin Sun has denied claims that he is considering divesting his stake in the global cryptocurrency exchange Huobi. 

A proposal to fund the Arbitrum Foundation with 750 million ARB tokens — nearly $1 billion — raised controversy in the ARB community over the weekend, as the Foundation announced that it was only ratifying a decision that had already been made. 

The infamous crypto exchange FTX will reportedly sell its stake in Web3-focused startup Mysten Labs in an effort to pay back its customers.

The debtors for defunct crypto exchange FTX have approved an agreement that would sell its preferred stock in Mysten Labs, the company behind the Sui blockchain.

Founded in 2015 by Ethereum co-founder Charles Hoskinson, Cardano is a proof-of-stake (PoS) blockchain that is often referred to as the “Ethereum killer,” owing to its superior technology and high level of security and sustainability.

Securities and Exchange Commission Chair Gary Gensler has once again indicated that tokens using staking protocols could be considered securities under US law. 

defunct crypto exchange FTX asked a judge to approve the sale of its interest in a fund of venture capital firm Sequoia Capital to an Abu Dhabi state-backed investment firm, in a deal valued at $45 million. FTX agreed to sell the interest in the Sequoia Capital Fund, which previously belonged to its sister trading outfit Alameda Research’s venture arm, to Al Nawwar Investments RSC Limited on Wednesday, its estate said in a filing to Delaware’s bankruptcy court late that same day. Al Nawwar is a subsidiary of an investment fund wholly owned by the Abu Dhabi government, and is an existing investor in the Sequoia fund. Alameda had acquired the stake in March 2022 for an aggregate capital commitment of $100 million, the filing said. To date, around $50 million of that commitment had been called up by Sequoia for investment in various portfolio companies. Advisers for FTX have been scrambling to raise money from the failed crypto exchange’s wreckage in order to repay creditors, with around $5 billion in cash and cryptoassets located as of January. Liquidators said that it had decided it was in “the best interest” of the estate to sell its Sequoia stake now because of its size, expected management fees and because its value could diminish if Sequoia chose to make more capital calls in the future.

David Herro, whose investment firm Harris Associates was previously Credit Suisse's biggest shareholder, is ditching his entire stake in the Swiss lender as it battles to convince investors and clients that its turnaround strategy will work.

Venture capital has long been the go-to method for crypto projects looking for funding during the peak of a bull cycle. However, as the bear market of 2022 extended, the amount invested by crypto venture capital funds dwindled, showing a clear need for a self-sustained funding system for the blockchain space.