Alameda Research has expanded its investment portfolio by allocating $4 million to Coin98 Finance, an up-and-coming decentralized finance platform from Vietnam, according to Chinese fintech outlet ChainNews. Coin98 Ventures, the venture capital firm behind Coin98, reportedly operates the biggest cryptocurrency fund in Vietnam and is also a key backer of the Solana Ecosystem Fund, which recently raised $40 million in strategic investments from major digital currency exchanges. As ChainNews notes, Coin98 operates a decentralized exchange and wallet, with transaction volumes totaling $20 million in March. The exchange boasts of roughly 200,000 users, mainly in Southeast Asia. Alameda Research is a …
Major business magazine Forbes has featured Gemini co-founders Cameron and Tyler Winklevoss as the richest Bitcoin (BTC) billionaires. Compiled by Forbes crypto-focused reporter Michael del Castillo, the ranking provides a list of Bitcoin investors that won the most from Bitcoin’s massive surge up to $42,000 in early January. The ranking includes three Bitcoin investors with an estimated crypto net worth above $1 billion, including the Winklevoss brothers, major industry investor Tim Draper and Matthew Roszak, chairman and co-founder of blockchain firm Bloq. The twins topped the list with an estimated cryptocurrency net worth of around $1.4 billion apiece. Roszak and …
United Kingdom-based crypto exchange TeraBlock announced the completion of a funding round that will reportedly provide an on-ramp for new crypto users. In an announcement on Monday, TeraBlock said it secured $2.4 million in funding from major investors including AU21 Capital, Blockchain.com, Blocksync Ventures, BTX Capital, CryptoDormFund and others. The platform was reportedly developed with newbies in mind, providing automation tools that allow users to buy and sell crypto when they’re unfamiliar with the space. “We believe there is pent-up demand for a more comprehensive and easy to use solution for onboarding users to the cryptocurrency ecosystem,” said TeraBlock chief …
The chief executive of major cryptocurrency exchange Binance, Changpeng Zhao — often known as CZ — has revealed that the firm diverts a quarter of its profits into investment opportunities. Zhao’s comments follow Binance’s completion of several recent high-profile acquisitions — including crypto data site CoinMarketCap and Indian crypto exchange WazirX. In a recent interview with South China Morning Post, Zhao estimated that Binance reinvests roughly 25% of its annual profits into expansions and acquisitions. “We usually spend about a quarter of our profit on investment opportunities every year," Zhao said, emphasizing that Binance is currently looking to grow its …
Nickel Digital Asset Management is not the only company feeling the effects of FTX’s collapse and bankruptcy. NFT protocol Metaplex also laid off, “several members of the Metaplex Studios team” due to the "indirect impact" from the collapse of crypto exchange FTX. The co-founder and CEO of Metaplex Studios Stephen Hess shared in a thread on Twitter that: “While our treasury wasn’t directly impacted by the collapse of FTX and our fundamentals remain strong, the indirect impact on the market is significant and requires that we take a more conservative approach moving forward.” (3/7) While our treasury wasn’t directly impacted …