Felix Capital, a venture capital company has just raised a fresh $600 million to invest in web3 and blockchain companies. “We are thrilled to share that we have closed oversubscribed funds of $600m” tweeted the firm post fundraise raise yesterday. The target for the fund was set to $500 million which was oversubscribed by 20% wrote Felix Capital in a…
In its efforts to fight money laundering risks and the possible schemes of Russian elites circumventing financial sanctions, the 2.8-million nation of Lithuania is planning to tighten its scrutiny over crypto. As the local Ministry of Finance announced on Wednesday, June 8, various ministries of the Lithuanian government approved legal amendments to anti-money laundering (AML) and countering the financing of…
With Web3 trending toward hyper-financialization and commoditization, leading lights in the space have proposed an alternative model built upon emergent networks by bottom-up communities with rich social identity. Soulbound Tokens, proposed by Ethereum creator Vitalik Buterin, would form an essential building block for this Decentralized Society, or DeSoc. These non-transferable tokens represent credentials and affiliations within DeSoc, and are linked…
The Congress of Colombia has approved a bill that regulates the behavior of cryptocurrency exchanges in the country in its first discussion, taking the first steps to bring clarity to this issue. One of the creators of the bill, Mauricio Toro, a representative of the Green Party, stated that this bill is needed to protect users from Ponzi schemes, giving…
Terraform Labs, the parent company behind the collapsed Terra ecosystem, is currently under multiple investigations from the South Korean authorities. The latest investigation revolves around the alleged embezzlement of Bitcoin (BTC) from the company’s treasury. According to a report published in a local daily, the Seoul Metropolitan Police Agency received an intelligence tip last month informing them of possible embezzlement…
Following a week-long voting period, ApeCoin DAO’s proposal to stay within the Ethereum ecosystem dubbed AIP-41 has been approved by a fine margin. Just over half of all voters supported the proposal, while 46.38% voted against the proposal. A total of 7.1 million ApeCoin (APE) were used in the voting process. Voting results of AIP-41. Source: Snapshot. A day after…
The Ethereum blockchain recently completed a step toward the long-awaited upgrade that will improve the platform by switching to a proof-of-stake (PoS) consensus. The Ropsten testnet successfully transitioned to PoS in what is dubbed a “dress rehearsal” for the Ethereum blockchain. Since the network uses the proof-of-work (PoW) mining model which consumes a lot of electricity, the Ethereum platform is often…
The New York State Department of Financial Services (DFS) released first-of-its-kind regulatory guidance for entities issuing U.S. dollar-backed stablecoins. The guidance outlines the “baseline criteria” for backing and redeemability of stablecoins and sets up the department’s expectations in relation to stablecoin reserves and independent audits. According to Superintendent Adrienne Harris, it “creates clear criteria for virtual currency companies looking to…
Bitcoin (BTC) retains two of its best-known proponents but one has cooled his BTC price forecasts considerably. In an interview with CNBC on June 9, Tom Lee, co-founder of independent research firm Fundstrat, revealed he was unsure if BTC/USD would end the year above its starting price. Lee suggests market has “already bottomed” Bitcoin price projections for 2022 have plummeted…
Stablecoin operator Tether today announced it is expanding the list of blockchain networks supporting its flagship stablecoin USDT to Tezos, a proof-of-stake (Pos) platform for creating smart contracts and decentralized applications (dApps). With the addition of Tezos, the USDT ecosystem is now available on 12 various networks, including Ethereum (ETH), Tron (TRX), Solana (SOL), Algorand (ALG), and the recently added…
