Tag: funding

Crypto exchange CoinDCX raises $135M funding to support Indian Web3

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Crypto exchange CoinDCX became India’s first crypto business to complete a Series D funding round, raising $135 million in support of various Web3 and crypto initiatives in the country.  The latest funding round resulted in CoinDCX doubling its valuation to $2.15 billion, which was led by Pantera and Steadview and saw participation from prominent investors including Kingsway, DraperDragon and Republic. Existing investors such as B Capital Group — a VC firm from Facebook co-founder Eduardo Saverin — Coinbase, Polychain and Cadenza also joined in on the oversubscribed funding round to…

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NYDIG raises $1B in funding, valuation now $7B

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[ad_1] On Tuesday, New York Digital Investment Group, or NYDIG, a financial institution specializing in Bitcoin financial services such as savings accounts, trading brokerages, 401(k)s, etc., announced it had secured a $1 billion equity investment led by WestCap. The funding places its valuation at nearly $7 billion. The firm has proved to be popular among institutional investors. Last year, Stone Ridge, a $10 billion asset manager, purchased 10,000 Bitcoin (BTC) via NYDIG’s services. NYDIG is also set to bring BTC adoption to over 650 U.S. banks and credit unions, as…

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French fintech startup Lydia raises $100 million in Series C funding round

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[ad_1] French crypto-friendly fintech startup Lydia has raised $100 million in a Series C funding round, per a report in TechCrunch.  The latest capital raise reportedly helped Lydia attain unicorn status with a valuation of over $1 billion.  The $100-million fundraise comes nearly a year after its Series B funding round of $86 million in December 2020. The round was led by investors Tencent and Accel and saw participation from Dragoneer and Echo Street. The fintech startup aims to use the fresh capital to expand its footprint in Europe. The…

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Mythical Games Raises $150 Million in Series C Funding Round Led by A16z – Bitcoin News

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[ad_1] Mythical Games, a blockchain-based gaming company, has raised $150 million in its series C funding round. The round was led by A16z, who is aggressively investing in these kinds of crypto initiatives. It also had the participation of other companies like D1 Capital, Redbird Capital, The Raine Group, as well as from well known cryptocurrency exchanges like Binance and FTX. Mythical Games Gets Unicorn Status in Latest Funding Round Mythical Games, a blockchain gaming company, raised $150 million in its latest funding round, which was led by…

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FTX and Wildcats’ basketball NFTs, WeMeta’s $1.1M funding, Zed Run’s Netflix tie-in

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[ad_1] FTX’s latest sports sponsorship The University of Kentucky has entered into a sponsorship agreement with FTX.US for the men’s Wildcats basketball team to act as brand ambassadors. Players will receive a monthly USD stipend from FTX.US paid in FTX debit cards and will also be able to create their own NFTs on the FTX NFT platform and keep a portion of the revenue. University of Kentucky Men’s Basketball team. (ukathletics.com) A recent decision by the National Collegiate Athletics Association (NCAA) to allow athletes to monetize their likenesses and names…

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Aurora raises $12M in debut funding to scale Ethereum ecosystem

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[ad_1] Aurora, an Ethereum Virtual Machine (EVM) designed to scale decentralized applications (DApp) built on the Near protocol, has announced a $12-million debut funding round. The round included over 100 venture capital investors, including Pantera Capital and Electric Capital. According to an official statement, Aurora will use the funds to expand ​​cross-chain capabilities beyond its current offering, in addition to hiring specialist developers to support the growth of Ethereum scaling. The scaling solution seeks to facilitate interoperability between blockchains through its EVM connection and multichain bridge, granting developers the accessibility…

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Crypto traders say negative funding rates are buy signals, but are they?

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[ad_1] Perpetual contracts, also known as inverse swaps, have an embedded rate usually charged every eight hours. This fee ensures there are no exchange risk imbalances.  Even though buyers’ and sellers’ open interest is matched at all times, leverage can vary, and when buyers (longs) are demanding more leverage, the funding rate turns positive. Thus, they are the ones paying the fees to the sellers (shorts). However, the opposite situation occurs when shorts require additional leverage, and this causes the funding rate to turn negative. Bitmex BTC futures weekly funding…

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Bitcoin funding rate flips negative after $48K retest — Was it a bear trap?

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[ad_1] As Bitcoin (BTC) lost the $52,000 support on April 22, the futures contracts funding rate entered negative terrain. This uncommon situation causes the shorts, investors betting on price downside, to pay fees every eight hours. While the rate itself is mildly damaging, this situation creates incentives for arbitrage desks and market makers to buy perpetual contracts (inverse swaps) while simultaneously selling the future monthly contracts. The cheaper it is for long-term leverage, the higher the incentives for bulls to open positions, creating a perfect “bear trap.” BTC-margined perpetual futures…

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First Digital Trust announces $2.15M funding for Asian digital payments service

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[ad_1] Digital asset custodian First Digital Trust has secured funding to bring crypto asset payment services and upgrades to the Asia Pacific region. The Hong Kong-headquartered company has raised $2.15 million in a convertible note funding round led by private investors including Asian venture studio Nogle. The total funding for the firm is now over $7 million according to Crunchbase which reported two prior funding rounds in March raising $5.2 million. The firm stated that the funding will allow it to launch the first debit and credit card rail that…

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