Blockchain 

A New Trend in Crypto Funding Campaigns: Companies Resorting to IEOs

The second quarter of 2019 demonstrated a growing popularity of the initial exchange offering (IEO), which has replaced the outdated initial coin offering (ICO) model. The new trend — the key role of which is played by a cryptocurrency exchange auditing projects and organizing token sales — has established itself positively among startups.  Crypto market stats show that over 65 IEOs have been launched in the past six months, with about 40 of them having reached their soft cap or even hard cap successfully. About 15 IEOs will be launched in…

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Bitcoin 

French State-Owned Bank Joins $8M Lightning Network Startup Funding

One of the developers of Bitcoin’s (BTC) Lightning Network has secured $8 million in funding from partners, including a bank partially owned by the French state. State-owned Bpifrance funds Lightning development In a press release published on Oct. 9, Bitcoin technology company ACINQ confirmed the news. This brings its total investment to $10 million. The funding came from the lead contributor Idinvest Partners, which focuses on small and medium-sized European businesses. Also involved was Bpifrance, an investment bank created by two French public entities. As such, the government has come…

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Blockchain 

Verisart Raises $2.5M in Funding Round Led By EOS Venture Capital

Verisart, a company that certifies art authenticity through blockchain technology, has raised $2.5 million to further expand its commercial art platform. Verify and track provenance of art In an Oct. 3 article by Techcrunch, it was announced that Verisart raised $2.5 million in seed financing led by Galaxy Digital EOS Fund, alongside investment firms Sinai Ventures and Rhodium. The funding will go toward expanding Verisart’s product and engineering team and will make it possible to launch a whole range of services aimed at artists, galleries and collectors. Verisart’s CEO Robert…

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Blockchain 

Tencent Leads $20M Funding Round for DLT Supply Chain Firm Everledger

British blockchain-enabled supply chain firm Everledger has raised $20 million in a new funding round participated by Chinese Internet giant Tencent. “Everledger and Tencent are a natural fit” Following the investment, Tencent will now be represented in the Everledger board, the company said in a press release shared with Cointelegraph on Sept. 24. The new funding will help Everledger to continue improving transparency, sustainability and traceability across global supply chains. Leanne Kemp, founder and CEO of Everledger, also pointed out the importance of Tencent’s participation, outlining the potential synergies of…

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Blockchain 

Fidelity Affiliate Joins $3.5 Million Blockchain Firm Funding Round

Blockchain analytics firm Elementus has raised $3.5 million from backers including a sister company of crypto-friendly asset manager Fidelity Investments. Morgan Creek Digital leads fresh cash injection As Fortune reported on Sept. 23, Elementus, which launched its offering in 2017, also gained capital from Stage 1 Ventures and Robot Ventures. Morgan Creek Digital, the crypto-focused asset manager co-founded by well-known commentator Anthony Pompliano, led the round.  The tie to Fidelity came in the form of Avon Ventures, a subsidiary of the private equity arm of Fidelity’s parent company, FMR.   Blockchain-not-Bitcoin…

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Blockchain 

Stripe Worth $35 Billion After Raising $250 Million in New Funding Round

Online payments processor Stripe announced that it has raised another $250 million in a new funding round, which pushes its pre-money valuation to a whopping $35 billion. $250 million to expand its global reach On Sept. 19, Stripe announced in a press release that the company has raised $250 million in additional funding from investors, which include venture capital (VC) firms General Catalyst, Sequoia and Andreessen Horowitz. Coming from a $9.2 billion valuation in 2016, the San Francisco-based Stripe was valued at $22.5 billion after raising $245 million in the…

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Blockchain 

Blockchain.com Wallet Seeking New $50M Funding Round: Report

Cryptocurrency wallet and statistics resource Blockchain (formerly Blockchain.info) is reportedly raising $50 million in a new funding round. According to Yahoo! Finance citing two anonymous sources on Sept. 4, Blockchain is already negotiating the cash, which it will use to invest in equity and purchase unnamed cryptocurrency tokens.  Blockchain eyes fresh expansion The sources added that Sam Harrison, who joined the company in 2018 to co-found its Blockchain Ventures spin-off, is in charge of proceedings.  Blockchain has yet to confirm the reports, which come on the back of previous round…

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Blockchain 

Elliptic Raises $23 Million in Funding Round Led by SBI Holdings

Cryptocurrency compliance company Elliptic has raised $23 million in a Series B funding round led by Japanese financial powerhouse SBI Holdings. Elliptic continues to expand in Asia According to a press release shared with Cointelegraph on Sept. 3, the funding will be used to support continued expansion into Asia, with new offices opening in Japan and Singapore.  The new investment will purportedly accelerate product development to support asset-backed cryptocurrencies such as Facebook’s Libra, Line Corporation’s LINK and central bank digital currencies. Founded in 2013, the company was established to support…

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Bitcoin 

CoinFlex Receives $10 Million Funding for Bitcoin Futures Settlements

Hong Kong-based cryptocurrency futures exchange CoinFlex has received $10 million through a funding round that closed last week. Recent funding and goal Asia-focused newspaper South China Morning Post (SCMP) reported the news on Aug. 26. According to the report, CoinFlex received funding from Bitcoin Cash (BCH) advocate and Bitcoin.com CEO Roger Ver, as well as Polychain Capital, NGC Ventures and Divergence Digital Currency. Polychain Capital and Digital Currency Group joined CoinFlex’s investment consortium back in March. CoinFlex is now reportedly looking to increase business from Asian retail investors. A safe…

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Cryptocurrency 

BlockFi Raises Over $18 Million USD in Funding Round

US cryptocurrency lending startup BlockFi has raised $18.3 million USD in a funding round led by Valar Ventures, the company announced on Tuesday. BlockFi is the first company of its kind to receive institutional funding for crypto-based loans in US dollars, in the form of a $50 million lending facility from Galaxy Digital. The new capital will reportedly be used to expand the array of products on BlockFi’s existing platform that includes interest-earning accounts for Bitcoin (BTC) and crypto-backed USD loans. BlockFi also plans on using the investment to double…

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