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Nearly $900 million in VC went to crypto companies in the third quarter of 2020

Nearly $900 million in VC went to crypto companies in the third quarter of 2020

During the third quarter of 2020, $897.7 million in venture funds were allocated across 212 crypto and blockchain startups, according to data compiled The Block Research. Early-stage and seed deals were the most common deal types, according to The Block Research’s John Dantoni. Such deals represented half of the quarter’s total, with 59 deals for …

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Equilibrium, a Polkadot-based project for cross-chain DeFi, raises $5.5 million

Equilibrium, a Polkadot-based project for cross-chain DeFi, raises $5.5 million

Equilibrium, a Polkadot-based, cross-chain decentralized finance (DeFi) project, has raised $5.5 million.  Sharing the news exclusively with The Block on Thursday, Equilibrium said the money was raised via a new “token swap” method, in which investors exchanged their old tokens with new ones. Specifically, Native Utility Token (NUT), from Equilibrium’s EOS-based product line, was exchanged …

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SEC and CFTC say Maryland Ponzi scheme defrauded over 1,000 investors out of $27 million by promising crypto trading returns

SEC and CFTC say Maryland Ponzi scheme defrauded over 1,000 investors out of $27 million by promising crypto trading returns

The Securities and Exchange Commission (SEC) and Commodities Future Trading Commission (CFTC) have both charged a Maryland-based Ponzi scheme for allegedly defrauding over 1,000 investors to the tune of over $27 million. The defendants allegedly told participants their funds would be used by licensed traders for foreign exchange and cryptocurrency trading. Over the course of …

SEC and CFTC say Maryland Ponzi scheme defrauded over 1,000 investors out of $27 million by promising crypto trading returns Read More »

DeFi dashboard startup Zapper nets $1.5 million in seed round

DeFi dashboard startup Zapper nets $1.5 million in seed round

The startup behind a user dashboard for decentralized finance (DeFi) has netted $1.5 million in seed round funding after winning Kyber’s DeFi Hackathon last year. Zapper enables users to manage their capital in the DeFi ecosystem from one UI. DeFiZap won Kyber’s Hackathon last November for a platform that allowed users to allocate across multiple …

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Decentralized exchange IDEX raises $2.5 million in seed funding ahead of IDEX 2.0 launch

Decentralized exchange IDEX raises $2.5 million in seed funding ahead of IDEX 2.0 launch

Decentralized or non-custodial crypto exchange IDEX has raised $2.5 million in seed funding ahead of IDEX 2.0 launch. The round was led by G1 Ventures and Borderless Capital, with participation from Collider Ventures and Ethereum prediction market project Gnosis. Alex Wearn, co-founder and CEO of IDEX, told The Block that the fresh capital would be …

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Square says Cash App generated $875 million in bitcoin revenue during Q2, posting $17 million in gross profit

Square says Cash App generated $875 million in bitcoin revenue during Q2, posting $17 million in gross profit

Square said Tuesday that it made $875 million in bitcoin revenue via its Cash App service during the second quarter of 2020.  The release — which came a day early stemming from what Square called an “early external access of the company’s quarterly financials” — also notes that Cash App generated $17 million in bitcoin …

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Whale Alert finds that scammers have siphoned $24 million in bitcoin from victims in 2020

Whale Alert finds that scammers have siphoned $24 million in bitcoin from victims in 2020

Recently a victim of a crypto scam? You’re not alone. Scammers made $24 million in bitcoin in the first half of 2020 — and they’re not slowing down anytime soon, according to a new report by crypto watchdog Whale Alert.  Whale Alert, best known for monitoring and tweeting about particularly large crypto transactions, collected and analyzed …

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Lightspeed Venture Partners backs crypto market maker Wintermute in $2.8 million fundraise

Lightspeed Venture Partners backs crypto market maker Wintermute in $2.8 million fundraise

A trading firm sitting behind both the centralized and decentralized cryptocurrency worlds has scored $2.8 million in a Series A funding round led by Lightspeed Venture Partners.  Wintermute, a London-based market maker in the digital asset space, announced Tuesday the close of the multi-million dollar raise exclusively to The Block, noting that the fresh capital …

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