Ethereum 

Ryan Kavanaugh’s Media Firm Secures $100 Million Investment for Crypto Project

United States-based film producer Ryan Kavanaugh’s Proxima Media has unveiled a $100 million investment for a cryptocurrency-based film funding tool, entertainment industry news outlet TheWrap reported on May 23. Per the report, Proxima Media — which Kavanaugh founded and owns — announced plans for a new crypto-enabled financing tool for film, TV, music and other intellectual property-driven content dubbed Proxicoin. Proxima reportedly received the investment from garment production company Central Wealth Group and venture capital fund Step Ventures. Proxicoin reportedly plans to issue Ethereum-based security tokens that allow holders to…

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Blockchain 

Blockchain Firm Raises $4 Million From Draper’s VC Fund to Provide Uncensorable Domains

San Francisco-based blockchain domains firm Unstoppable Domains has secured $4 million in a funding round backed by venture capitalist Tim Draper, co-founder Brad Kam told Cointelegraph in an email on May 23. Following a $730,000 seed round led by investment firm Boost VC, Unstoppable Domains has carried out a Series A round led by venture capital fund Draper Associates. The previous investment was completed in December 2018, a press release notes. The new investment funds will be used in the company’s mission to provide blockchain-powered uncensorable websites, as well as…

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Bitcoin 

Europol Shuts Down $200 Million Crypto Mixing Service Bestmixer

Dutch, Luxembourg authorities and Europol have shut down one of the three largest cryptocurrency tumblers, Europol reported on May 22. A cryptocurrency tumbler, also known as a cryptocurrency mixing service, is an anonymity tool that claims to transform transactions of non-private coins to private ones by mixing crypto funds with others, which makes it difficult to track the funds’ original source. According to the report, the Dutch Fiscal Information and Investigation Service (FIOD) has now seized six servers of major crypto tumbler Bestmixer.io, which had a reported turnover of at…

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Bitcoin 

Brazil Shuts Down Cryptocurrency Pyramid Scheme That Defrauded 55,000 of $200 Million

Brazillian police have arrested ten people suspected of operating a cryptocurrency pyramid scheme worth 850 million reals ($210 million), local news media outlets including Correido Do Povo reported on May 21. As part of Operation Egypto, a swoop dedicated to unearthing unsanctioned financial schemes, Brazil’s tax agency joined police in orchestrating a crackdown on the figures behind Indeal, who they say amassed funds from 55,000 investors. They lured victims with the promise of a 15% payout in the first month after investment in the crypto scheme. In total, the investigation…

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Bitcoin 

Police Arrest Dutch Cryptocurrency CEO in Rumored $110 Million Fraud Case

Dutch police have arrested a former entrepreneur for fraud after alleging he conned investors in a fake bitcoin (BTC) mining operation out of €100 million ($111 million), Dutch daily news outlet De Gelderlander reported on May 21. According to reports, Barry van Mourik, who previously ran another cryptocurrency company also under suspicion, deceived clients into thinking they would earn money from bitcoin mining. Posing as the operator of a mining farm, van Mourik accrued client funds while allegedly failing to purchase any equipment, instead reportedly spending the money on luxury…

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Bitcoin 

Kraken $10 Million Equity Sale With BnkToTheFuture Seeks to Democratize Access

United States cryptocurrency exchange Kraken is offering equity to users in a fundraiser that raised over $6 million in its first day, statistics confirmed on May 21. Kraken, which is one of the world’s oldest exchanges, is using Cayman Islands-based platform BnkToTheFuture to offer equity to vetted investors. These, it said in an accompanying marketing email seen by Cointelegraph, can be any Kraken user, subject to a minimum purchase of $1000. At press time, Kraken had raised just over €6.04 million ($6.76 million) from almost 300 investors, taking it to…

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Blockchain 

Cornell Uni’s Emin Gun Sirer Debuts Ava Blockchain Following $6 Million Investment

Emin Gun Sirer, a professor at Cornell University and a major global blockchain expert, will launch his own cryptocurrency and blockchain network, Bloomberg reported on May 16. Sirer, the creator of the first crypto based on proof-of-work (PoW) — Karma System — is now planning to launch a blockchain network that he touts as running as many transactions per second as payment giant Visa. Having raised $6 million from major investors such as Andreessen Horowitz, Polychain and MetaStable in February, Sirer’s Ava Labs has reportedly launched a private test version…

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Blockchain 

Top Banks Alleged to Be Investing $50 Million in Digital Cash Settlement Project

Sources ostensibly familiar with the matter have claimed that some of the world’s leading banks are currently investing around $50 million to build a blockchain-powered digital cash system for transaction settlement. The news was reported by Reuters on May 17. An earlier project for a blockchain-based currency settlement coin was unveiled by Swiss bank UBS Group AG and London-based technology startup Clearmatics at early as 2015, as Cointelegraph reported at the time. One of Reuters’ sources has said that the latest development involves around a dozen major banks investing in…

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Bitcoin 

Blockchain Sister Startups Allegedly Pull $8 Million Exit Scam

Blockchain startups RepuX and JoyToken have reportedly pulled a joint initial coin offering (ICO) exit scam, according to an exposé by Hard Fork of The Next Web (TNW) on May 16. RepuX and JoyToken reportedly ran their ICO promotions during March and April of 2018, and are now walking away with $4.7 million and $3.3 million, respectively. As far as the startups’ stated plans were concerned, Hard Fork reports: “RepuX claimed that it was trying to build what it called a ‘blockchain-powered data marketplace,’ while JoyToken was trying to create…

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Blockchain 

Upbit Exchange Operator Plies $46 Million Into Blockchain in First Year of Investment

The parent company of South Korean cryptocurrency exchange Upbit has invested almost $50 million in blockchain startups since March 2018, English-language Korean business news outlet The Investor reported on May 15. Dunamu, which created a dedicated investment subsidiary, Dunamu & Partners, at the same time last year, has given cash to a total of 26 businesses. In total — under plans it announced previously — the company aims to invest 100 billion won ($84 million) into the industry. “Our goal is to contribute to the healthy growth of the blockchain…

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