A federal judge has ordered the U.S. Securities and Exchange Commission (SEC) to pay over .8 million in its case against the crypto firm Digital Licensing, also known as Debt Box. The penalty resulted from the SEC’s bad faith conduct in obtaining and defending an ex parte temporary restraining order (TRO) based on misrepresentations. Additionally, […]
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BullPerks Successfully Ended Private Funding Round Raising $1.8M
BullPerks has successfully completed its private funding round raising .8 million. Moreover, Bullperks is the most outstanding Decentralized VC and multi-chain launchpad solution. This project could have huge potential to make a tremendous impact on the crypto industry. It is two in one project that utilizes the same token and the revolutionary tier system.
BullPerks’ dual-pronged methodology takes away the VC-level investing illusion only for early adopters. More so, developing a more level playing field will enable more people into the crypto space.
Notably, there were many investors participating in the funding round. These investors include X21, GD10, Shima Capital, AU21, Alphabit, Genblock, Skynet Trading, Blocksync, Darkpool, Moonwhale, Sora Ventures, Faculty Capital, ThreeM Capital and more.
The funding round investors have delivered huge interest in the decentralized VC solution. Added to this, the multi-chain launchpad approach by BullPerks will provide composability to the industry. This is something that could not be seen nowadays.
Co-founder Eran Elhanani BullPerks explained that they were very delighted to close the raise made by such great investors. He also added that they were extremely oversubscribed in a very short period of time. More so, the ticket size needs to be limited in order to make use of many strategic investors as possible. This represents the confidence of the investors as a team in their project and vision.
Added to this, Dr. Deeban Ratneswaran also said that GD10 ventures supports Bullperks’ democratization of the VC industry. Moreover, Bullperks enables small investors to compete with big investors like whales by offering them to accrue lucrative projects at seed and private phases.
Ratneswaran adds,
”We’re impressed by the strong and deeply experienced team that operates Bullperks, supported by a loyal network across multiple blockchains, their capacity to select disruptive ideas speaks for itself. All of the above gives us confidence that investors will garner a secure and equitable experience and an opportunity to level the playing field with crypto-whales.“
Furthermore, Jason Fang, Sora Ventures Managing partner mentioned that our industry demands products to be highly decentralized. As they see a need for platforms like Bullperks. However, they are more excited to back their mission as they see this to be the main element to the way retailers could estimate the projects in the future.
In the next quarter, BullPerks will also combine with other chains that include Solana, Polygon, Tezos, and Cardano. Moreover, the team also seeks multiple partnerships and will enable the investment chances for the decentralized VC aspect. All in all, BullPerks will deliver multiple projects on its multi-chain launchpad.
Bitcoin Affect? Billionaire Fund Manager Sells 1.8M Tesla Shares for Clients
Less than a month after US carmaker Tesla revealed its .5bn Bitcoin holdings, one of the company’s most vocal bullish investors announced that he had sold 1.8 million of its shares for clients.
Ron Baron, the founder of Baron Capital, an investment management firm in New York, said his firm sold TSLA stocks for its clients, believing that they were taking too much percentage of some of their portfolios. Nevertheless, the billionaire investor clarified that he did not sell any of his 1.25 million Tesla shares, reiterating his long-term bullish outlook for the Fortune 500 company.
“It was painful selling every single share,” he added.
Bitcoin The Main Culprit?
The sell-off took place over the course of the previous six months. It reflected Baron Capital’s systematic plans to secure profits for their clients as the Tesla stock boomed by 338 percent to 3.20 apiece. Nevertheless, the firm did not reveal the number of shares it sold after Tesla revealed that it had reallocated 8-10 percent of its cash reserves to bitcoin on February 8.
According to reports, Baron Capital was holding just over 6.1 million Tesla shares as of Feb. 28. The firm bought them at an average cost of .3 per share.
![Tesla, Nasdaq, TSLA, bitcoin](https://www.newsbtc.com/wp-content/uploads/2021/03/7KG8hLUy-860x498.png)
The Tesla stock started correcting lower after logging its record high of 0.40 on January 25. According to its filing with the US Securities and Exchange Commission, the company had started allocating Bitcoin in the same month to “further diversify and maximize returns” on their cash reserves.
Tesla did not disclose the price at which it bought bitcoins. But a report from CNBC noted that the firm’s profit from its unique investment strategy was north of billion as of February 21.
Treading Uncertain Waters
Many traditional economists and strategists criticized Elon Musk’s decision to exposure Tesla to an asset that is notorious for its price volatility. That included Nouriel Roubini, an economist who correctly predicted the 2008 financial crisis, who advised other corporates firms to avoid copying Tesla’s bitcoin purchase.
The Tesla stock slipped by approximately 25 percent following its cryptocurrency investment. Nevertheless, it is still unclear whether the share’s correction appeared due to its overvaluation—as is the case with any other tech stock—or fears that Tesla would lose its cash by exposing itself hugely to the volatile Bitcoin market.
![Bitcoin, cryptocurrency, BTCUSD, BTCUSDT](https://www.newsbtc.com/wp-content/uploads/2021/03/NfBZiGkJ-860x498.png)
Mr. Baron, who showed his initial resentment to Tesla’s crypto investment, said that Elon Musk could do whatever he thinks with his cash on Thursday. But for him, investing in growth stocks is the best way to beat inflation.
“You have to protect yourself against inflation. What we do is invest in these great companies that can grow fast,” he stated.
The Curious Case of AT&T, Seth Shapiros SIM Card and a Stolen $1.8M
n AT&T has a long, dark history of failing to protect its customers from third-party hackers. Cointelegraph spoke with Seth Shapiro, the latest to file a court claim against the telecoms giantn
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California Man Sues AT&T Over Loss of $1.8M and Crypto Accounts
n California man sues AT&T claiming that its employees helped to steal over .8 million in total, including cryptocurrenciesn
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Ethereum heist $1.8m in cryptocurrency stolen not by a hacker but at gunpoint
35-year-old Louis Meza from New Jersey was charged with kidnapping and robbery. If found guilty, he could face upto 25 years in prison.
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