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Half a billion SHIB locked in dead wallets- Decoding what it means for investors

Half a billion SHIB locked in dead wallets- Decoding what it means for investors

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In April Shiba Inu introduced a burning portal allowing holders to permanently destroy their tokens. This was aimed at reducing the circulating supply while also enabling users to receive passive income. Since then, more than billions of such tokens exited circulation. In fact, a week ago, over 1.4 billion tokens were burnt in over 160 …

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Report: With over $47 billion in 'realized' crypto gains, this nation leads the pack

Report: With over $47 billion in ‘realized’ crypto gains, this nation leads the pack

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The race for greater crypto adoption often leads to competition between so-called developed countries and developing countries. While economies in which crypto helps unbanked people often see high levels of adoption, residents in the Global North enjoy easier – and often, legal – access to crypto-based services. However, according to a study by Chainalysis, one …

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BitConnect founder indicted for alleged $2.4 billion Ponzi scheme

BitConnect founder indicted for alleged $2.4 billion Ponzi scheme

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advertisement A federal grand jury has indicted BitConnect founder Satish Kumbhani with allegedly defrauding $2.4 billion through the crypto Ponzi scheme. The US Department of Justice announced on Friday that a San Diego federal grand jury had charged Kumbhani with conspiracy to commit wire fraud, wire fraud, conspiracy to commit commodity price manipulation, operation of …

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FTX is creating an NFT-focused sports and entertainment marketplace

FTX moves into $300 billion luxury fashion industry with new hire

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Crypto exchange FTX has appointed beauty entrepreneur Lauren Remington Platt as its head of global luxury partnerships, a newly-created position.  With a decade of experience, Platt is the founder of Vensette, an on-demand beauty company where she launched partnerships with brands like Michael Kors, Vogue, and Saks 5th Avenue to bring pre-vetted makeup and hair experiences …

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Crypto platform Amber Group hits $3 billion valuation in latest raise

Crypto platform Amber Group hits $3 billion valuation in latest raise

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advertisement Crypto platform Amber Group has announced a $200 million raise led by Temasek, the Singapore-based sovereign wealth fund. The investment values Amber, which is also based in Singapore, at $3 billion — and brings the total amount of capital it has raised to date to $328 million. Alongside Temasek, existing investors including Sequoia China, …

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Ripple announces stock buyback, nabs $15 billion valuation

Ripple announces stock buyback, nabs $15 billion valuation

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advertisement Distributed ledger tech company Ripple has nabbed a $15 billion valuation after a private stock buy-back, the company said Monday.  The company is repurchasing equity shares from investors in its Series C, which includes Tetragon, a company that unsuccessfully sued Ripple last year. At the time of the previous raise, Ripple’s valuation stood at …

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FTX launches $2 billion venture fund, hires Lightspeed exec to lead

FTX launches $2 billion venture fund, hires Lightspeed exec to lead

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Sam Bankman-Fried’s FTX has launched a new venture capital unit, adding billions of dollars in fresh capital to the already bloated private market for crypto investing.  FTX — which has long made investments alongside its sister company Alameda — said in a press release that FTX Ventures aims to “advance global blockchain and web3 adoption, …

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Adobe partners with OpenSea and other NFT marketplaces to display content credentials

OpenSea is reportedly eyeing raise that would value it at $13 billion

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advertisement NFT marketplace OpenSea has closed a $300 million Series C funding round that values the company at $13 billion. The crypto startup disclosed the round following emerging reports of its multi-billion-dollar funding efforts. Earlier on Tuesday evening, sources told The Block that the firm, which raised at a $1.5 billion valuation last year, was planning …

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Institutional crypto custodians raised more than $3 billion in 2021

Institutional crypto custodians raised more than $3 billion in 2021

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advertisement Crypto custodial firms focused on the institutional market experienced a significant upswing in funding in 2021, according to The Block Research. Such firms have raised more than $3 billion this year. As noted in The Block Research’s 2022 Digital Asset Outlook Report, the rate of investments was more than three times higher than 2020.  …

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$7.7 billion lost to crypto-scams, but how serious have rug pulls been

$7.7 billion lost to crypto-scams, but how serious have rug pulls been

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The meteoric rise in crypto-adoption over the past few years has led the world to take notice of this ever-expanding industry. However, this has also contributed to the growing number of crypto-scams. According to Chainalysis, for instance, scams related to cryptocurrencies rose by 81% in 2021 compared to last year, amounting to a whopping $7.7 …

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