Traditional venture capital funds drive valuations through multiple funding rounds. Startups aim for initial public offerings or other exits. Then the sharemarket decides upon a more realistic valuation. But in cryptoland, tokens introduce market capitalization while a company is being built. This means there are a lot of competing interests and agendas. Token sales for Web3 startups can be the…
Month: July 2022
The risks and benefits of VCs for crypto communities – Cointelegraph Magazine
Traditional venture capital funds drive valuations through multiple funding rounds. Startups aim for initial public offerings or other exits. Then the sharemarket decides upon a more realistic valuation. But in cryptoland, tokens introduce market capitalization while a company is being built. This means there are a lot of competing interests and agendas. Token sales for Web3 startups can be the…
Compass Mining retrenches 15% of staff, execs to take major pay-cuts
Ongoing strife in the cryptocurrency space has forced Compass Mining to lay off 15% of its employees while top executives and staff take major pay-cuts. The firm announced its decision to downscale its workforce in a bid to weather difficult market conditions, just a week after the resignation of Chief Executive Officer Whit Gibbs and Chief Finance Officer Jodie Fisher.…
Spanish Exchange 2gether Blocks Operations, Affecting 100,000 Users – Bitcoin News
2gether, one of the oldest cryptocurrency exchanges in Spain, has suddenly blocked its operations, leaving its users without access to their accounts. The platform informed it had to take this action due to the current situation of the market in an email directed to customers. In addition, the platform erased its presence from social media, deleting its account on Twitter.…
What is BNB auto-burn and how does it work?
BNB and its role in the blockchain ecosystem Binance Coin (BNB) is the Binance ecosystem’s native cryptocurrency. Launched in 2017, BNB was originally presented as an ERC-20 token on the Ethereum blockchain with a total supply of 200 million. In 2019, Binance started its mainnet swap and migrated all BNB tokens to BNB Chain. Related: A beginner’s guide to the BNB…
Web3 activists fight for reproductive rights with NFTs, DAOs and protests
Web3 community members are fighting back against the United States Supreme Court’s ruling to overturn Roe v. Wade. On June 24, 2022, the landmark court case that previously assured the right to have an abortion was overturned, sparking a backlash among reproductive rights activists in the U.S. Some activists have turned to Web3 solutions, creating decentralized autonomous orginzations (DAOs) and…
Bitcoin education at an escape room in Lebanon
Bitcoin (BTC) sets people free. At least, that was the story at Lebanon’s first Bitcoin-themed escape room in Beirut. Lebanese Bitcoiners from the group Bitcoin du Liban took on the latest Bitcoin education challenge — Bitcoin Escape the System. The best part? The team of four snuck out of the escape room in the fastest time to date. Can’t wait to…
This ‘biblical’ Bitcoin pattern suggests BTC price can rise 30% by October
Bitcoin (BTC) may be down 70% from its November 2021 peak, but its rebound move in the past three weeks is raising the possibility of more upside in Q3. Bitcoin eyes 30% price rally At the core of the bullish argument is a technical pattern called the “Adam-and-Eve double bottom.” Notably, the structure appears when the price forms two bottom-and-recovery…
BTC Surges Above $22,000 Ahead of NFP Report – Market Updates Bitcoin News
Ahead of the latest nonfarm payrolls report, bitcoin rose to a multi-week high above $22,000 on Friday. The token climbed to its highest level in over three weeks, whilst ETH also rallied, rising above $1,200 for the first time in nearly two weeks. Bitcoin BTC rallied to a three-week high on Friday, as markets anticipated the release of the latest…
Celsius Lost $390M of Client Funds From ‘High-Risk’ Levered Trading: Arkham Report
The troubled crypto lending firm Celsius reportedly used its customers’ funds worth $534 million to execute “high-risk leveraged crypto trading strategies” through a third-party asset manager, a new report by blockchain analytics firm Arkham Intelligence says. The report, which uses on-chain analytics, also indicates that these strategies “resulted in apparent losses of $390 million when the asset manager returned capital,”…