American venture capital firm Sequoia Capital has launched a new cryptocurrency fund as part of its ongoing efforts to bootstrap the next generation of promising crypto-focused startups. Bloomberg reported Thursday that Sequoia is allocating up to $600 million towards the new sector-specific fund. Shaun Maguire, a partner at Sequoia, described crypto as a “megatrend over the next 20 years” and called it “the future of money.” The new crypto fund is part of three new sub-funds that were introduced by Sequoia on Thursday. The new funds, which operate under the Sequoia Capital Fund, will rely on capital that’s already committed …

Venture capital funding in the cryptocurrency market is showing no signs of slowing, as major investors continue to back promising startups in niche industries spanning the metaverse, nonfungible tokens (NFTs) and GameFi. Cointelegraph’s new series, VC Roundup, provides a rundown of some of the biggest funding stories of the past few weeks. To stay informed on the latest developments from the world of blockchain business, be sure to register for our Crypto Biz newsletter, which is delivered to your inbox every Thursday. Animoca Brands leads NFT3 raise Web3 identity network NFT3 raised $7.5 million in seed investments to continue building …

Centralized exchanges continue to be among the most used tools for investors to buy, sell and exchange cryptocurrencies, a reality often likened to the level of security and monitoring the third party can provide to the end-user. Consider that thousands or even hundreds of thousands of dollars can be lost without a centralized exchange if the investor forgets their key. While many see the benefits of centralized exchanges, the concept is misleading when compared to the decentralized assets that investors use in their transactions. Along with centralization has come several hacks, fraud, market manipulation and artificially inflated trading volume. For …

Merger and acquisition deals in the cryptocurrency industry, simply known as M&As, have massively increased in 2021, with associated value jumping nearly 5,000%, according to PwC, one the largest accounting firms in the United States. The total volume of crypto mergers and acquisitions soared 4,846% last year, with the average deal size reaching about $180 million from $53 million in 2020, PwC said in a new study, Bloomberg reported on Wednesday. PwC detailed that crypto fundraising deal volumes surged 645% in 2021, with top-five investors by deal count including blockchain investor AU21, Genesis Block Ventures, Genblock Capital, Coinbase Ventures and …

Layer-2 scaling solution Polygon has raised $450 million in a funding round that was backed by some of blockchain’s biggest venture funds — offering further evidence that major investors are looking to support the future of Web3 development. The investment round was led by Sequoia Capital India with participation from more than 40 venture capital funds, including SoftBank Vision Fund 2, Galaxy Digital, Tiger Global and Republic Capital. Billionaire investor Kevin O’Leary also participated in the raise. Polygon will use the funding to expand its scaling solutions, which includes Polygon PoS, Polygon Edge and Polygon Avail, and support mainstream adoption …

Last year was impressive for blockchain startups, as research from CB Insights found that venture capital funding reached new heights during every quarter of 2021. According to CB Insights’ “State Of Blockchain 2021” report, $25.2 billion worth of venture capital funding went to global blockchain startups last year, demonstrating a 713% increase from $3.1 billion in 2020. The report also found that the United States led the greatest amount of funding deals in Q4 of last year, generating $6.26 billion for 157 deals. The document notes that global growth was driven by increasing consumer and institutional demand for crypto-related products …

Is Bitcoin (BTC) in a bull market or a bear market? Has the current market cycle already peaked or can we expect another leg higher? Venture capital funds don’t seem to care either way. They’re too busy building equity in promising blockchain plays. This week’s Crypto Biz newsletter features two major funding rounds from the world of blockchain, as well as Jack Dorsey’s scathing critique of Mark Zuckerberg’s metaverse plans. We also highlight a company that’s making it easier for employees to start getting paid in BTC. So, while it’s easy to get bogged down in the bull versus bear …

Crypto-focused enterprise payment platform Tribal Credit has raised $60 million in an oversubscribed investment round, putting the company on track to continue its expansion in Latin America — a region that has seen significant uptake of blockchain-based cross-border payments. The Series B investment round was led by SoftBank Latin America Fund, a venture fund that has invested in several fintech and software companies throughout the region. Coinbase Ventures also participated in the round alongside venture firms BECO Capital, QED Investors and Rising Tide. Tribal said it will use the cash injection to fund its operations across the region, including building …

Software wallet and browser extension Phantom has raised $109 million in Series B financing to continue expanding its cross-platform capabilities beyond Solana. The funding round was led by Paradigm, an investment firm focused on cryptocurrency and Web3 companies. Other venture firms to have supported Phantom in prior funding deals include Andreessen Horowitz, Jump Capital and Variant Fund. According to Phantom, the funding will help enhance the wallet’s technical capabilities, such as better app discovery, as well as allow the company to hire additional employees. In addition to its funding round, Phantom also announced Monday that its mobile app is now …

Blockchain payments company Ripple made it abundantly clear this week that it's not letting its feud with the United States Securities and Exchange Commission (SEC) hold back its business plans. On Wednesday, the company announced it had repurchased all Series C shares that it issued to private investors back in December 2019 — even though a court ruling in 2021 said it didn't have to. This week's Crypto Biz explores Ripple's share repurchase and provides an overview of the biggest funding stories of the week. We also weigh a new exchange-traded fund (ETF) proposal by Valkyrie that seeks to provide …

Digital asset custody platform Fireblocks has raised $550 million in Series E funding to become one of the blockchain industry’s most valuable companies, underscoring heightened institutional appetite for cryptocurrency products despite extreme price volatility. The investment round was co-led by venture firms D1 Capital Partners and Spark Capital, with participation from Parafi Growth Fund, Canapi Ventures, Altimeter, General Atlantic, Index Ventures, Mammoth, CapitalG and Iconiq Strategic Partners. Since launching in 2019, Fireblocks has raised a cumulative $799 million from some of blockchain’s leading venture firms. As Cointelegraph reported, the company secured $310 million in a Series D funding round that …

Cryptocurrency portfolio tracker and tax calculator CoinTracker has attained “unicorn” status after raising $100 million in Series A financing, demonstrating once again that investors are allocating vast sums of capital toward crypto-focused companies. The Series A investment round was led by California-based venture capital firm Accel, with additional participation from General Catalyst, Initialized Capital, Y Combinator Continuity, 776 Ventures, Coinbase Ventures, Intuit Ventures and Kraken Ventures. Individual investors who participated in the round included former Stripe COO Hughes Johnson, Coinbase board member Gokul Rajaram and Jeremy Liew, an early investor in Affirm and Snapchat. With the capital raise, CoinTracker’s total …