Connect Money, an Egyptian fintech startup, recently secured million in seed funding. The company plans to launch new business verticals using this investment. Connect Money aims to become the go-to platform for businesses seeking seamless banking services. Successful Capital Raise Demonstrates Investors’ Confidence in Connect Money Egyptian banking-as-a-service fintech startup Connect Money recently closed […]
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Crypto Sector Secures $317M in Venture Capital Deals in Early June
With the first half of June concluded, there have been 37 venture capital deals and fundraising events in the crypto sector. Collectively, these investments totaled 7.87 million, with Avail, a modular blockchain project, leading the pack with million. 37 Crypto Startups and Projects Gather 7 Million Crypto investments are ongoing, and in the last […]
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VC Firm Paradigm Secures $850 Million For Crypto Projects In Latest Fundraise
Venture capital firm Paradigm has reportedly raised 0 million for its third fund, supporting early-stage cryptocurrency initiatives led by Coinbase co-founder Fred Ehrsam and ex-Sequoia Capital partner Matt Huang.
Increased Venture Capital Interest In The Industry
Paradigm’s previous investments include prominent projects like decentralized exchange (DEX) Uniswap and Optimism, a scaling solution for the Ethereum blockchain.
According to Bloomberg, with the capital raised in the latest funding round, Paradigm aims to contribute to early-stage crypto work and plans to prioritize such projects in the future.
The latest fundraising comes after Paradigm’s notable achievement in 2021 when it secured a .5 billion fund, the largest-ever crypto investment vehicle at that time.
The current surge in interest and confidence within the venture capital community towards the crypto industry has led to increased funds focused on cryptocurrency strategies.
Paradigm’s fundraising success reflects the growing market appetite for crypto investments. Recent developments, such as the introduction of Bitcoin ETF and the impending approval of ETFs centered around Ethereum, have fueled the industry’s expansion.
Hivemind Capital Joins Paradigm In Venture Funding Race
Paradigm is not the only venture firm seeking to raise funds within the crypto space. Hivemind Capital, for instance, is actively raising a specialized million non-fungible token (NFT) fund.
Hack VC, which previously announced a 0 million fund, is also exploring opportunities to raise over 0 million for another investment vehicle. These initiatives highlight the increasing interest and confidence in the potential of the crypto industry from venture capitalists.
While Paradigm faced criticism, including temporarily removing cryptocurrency references from its website, the firm rectified the situation and reaffirmed its commitment to the industry.
Fred Ehrsam transitioned from managing partner to general partner at the firm in October, further solidifying Paradigm’s dedication to fostering crypto innovation.
Despite setbacks, Paradigm continues to support crypto projects actively. Recently, the firm led an investment round in Merkle Manufactory, a company responsible for developing software infrastructure for the Farcaster social media network.
The funding round valued Merkle Manufactory at approximately billion, underscoring Paradigm’s ongoing belief in the potential and value of the crypto industry.
Overall, Paradigm’s successful fundraising efforts for its third fund demonstrate investors’ continued interest and confidence in supporting early-stage cryptocurrency projects.
In recent months, the crypto industry has experienced a consistent outflow of funds, resulting in a decline in the total market capitalization from its yearly peak of .7 trillion to the current level of .3 trillion.
The dominant cryptocurrency in the market has been the primary driver of the recent price drops. It is currently valued at ,700 and has experienced a 3% decrease within the past 24 hours. Similarly, Ethereum has also declined, with its price dropping by 4% to approximately ,475.
Featured image from DALL-E, chart from TradingView.com
Paradigm Secures $850 Million for Third Crypto Fund, Targets Early-Stage Projects
On June 13, the leading San Francisco-based crypto-focused venture capital firm Paradigm revealed it has secured its third fund, totaling 0 million, aimed at early-stage crypto projects. Paradigm Announces 0 Million Fund Established in 2018 by Coinbase co-founder Fred Ehrsam and ex-Sequoia partner Matt Huang, Paradigm ranks among the leading crypto investment firms, overseeing billions […]
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XRP Price Set For Colossal 63,000% Breakout As Ripple Secures Crucial Partnership In Europe
In a market witnessing a strong bullish momentum with several cryptos reaching new all-time highs and experiencing price recoveries, the XRP price has remained in a consolidation phase for the past two months after a brief surge in March that took it to its yearly high of .7430.
However, recent positive developments and announcements surrounding Ripple, the blockchain payment company associated with XRP, coupled with an intriguing bullish pattern, have sparked speculation of a potential massive uptrend for the XRP price.
Ripple Expands With Clear Junction Partnership
Ripple recently revealed its partnership with Clear Junction, a global provider of cross-border payment solutions for regulated institutions.
According to the announcement, the new collaboration aims to enable Clear Junction to facilitate “instant and secure” GBP and EUR-denominated payout coverage for Ripple’s payments customers. Moreover, Ripple plans to introduce support for additional currencies later this year, further expanding its network of offerings.
Cassie Craddock, Managing Director, Europe at Ripple, expressed satisfaction with the partnership, stating the following:
Clear Junction is a great fit for Ripple. Right from the beginning, it has been able to support all of our use cases, including providing GBP and EUR payout coverage for our clients sending payments into the UK and European Union.
Clear Junction, an FCA-authorized e-money institution in the UK, offers operational support and reports to provide a secure environment for partners.
The goal is to ensure the safety and protection of funds through necessary payment industry and data security safeguards. The company has earned ISO 27001 certification, the highest global data security standard.
Dima Kats, Founder and CEO at Clear Junction, emphasized the significance of the partnership, stating that blockchain technology and cryptocurrencies will be at the core of the evolution of correspondent banking. Kats further states:
We are happy to partner with Ripple to be a part of this process. This collaboration exemplifies two institutions coming together to enhance their respective products and services. We look forward to working closely with the Ripple team and exploring more avenues for future growth.
XRP Price To 0?
Presently trading at .5269, XRP is experiencing a prolonged consolidation phase between the price range of .4780 and .5441.
Despite lacking significant catalysts to propel the token to previous highs, the possibility of retesting its all-time high of .40 in January 2018 is on the horizon.
A crypto analyst known as “Jack The Rippler” has identified a bullish triangle pattern emerging in the daily XRP price chart, as seen in the image below.
Should the pattern fully break out above the .600 mark and the anticipated bullish uptrend materialize, as indicated by the analyst, the projected 63,000% surge would skyrocket the XRP price to approximately 1.
Nevertheless, the realization of this scenario remains uncertain, and the timeframe required for XRP to overcome its upper resistance levels is yet to be determined. The upper resistance levels currently stand at .5414 and .5574 in the near term.
Featured image from DALL-E, chart from TradingView.com
Dapper Labs Secures Favorable Settlement in Class Action Lawsuit Involving NBA Top Shot NFTs
Dapper Labs, a blockchain technology and digital collectibles company, has reached a favorable settlement in the legal case Friel vs. Dapper Labs, establishing that NBA Top Shot Moments are not securities. The company emphasizes that this significant ruling clarifies the legal status of digital collectibles and ensures the continued decentralization of the Flow blockchain. Dapper […]
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Bitcoin Blockchain Records $3.82 Billion in NFT Sales, Secures Fourth-Largest Spot
Since the launch of Ordinal inscriptions, Bitcoin-based non-fungible tokens (NFTs) have proliferated, with the blockchain documenting .82 billion in NFT sales across more than 3 million transactions. Bitcoin has now ascended to the fourth-largest blockchain by total NFT sales. From Counterparty to Ordinal: Bitcoin NFTs Hit .82 Billion in Sales In the first week of […]
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Marketnode Secures Series A Funding Led by Financial Services Giant HSBC
On Thursday, Singapore’s Marketnode, a digital market infrastructure operator, secured funding for its Series A financing round led by HSBC, the British multinational universal bank and financial services group. The exact amount raised during the Series A funding was not disclosed. HSBC Joins Forces With Marketnode to Revolutionize Digital Asset Solutions HSBC has backed Marketnode, […]
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Kelp DAO Secures $9 Million in Private Sale to Boost Defi Expansion
Kelp DAO, a liquid restaking platform, has completed a private funding round, amassing million to propel its growth in the decentralized finance (defi) sector. The funding aims to enhance the platform’s capabilities and expand into new ecosystems, including Solana and Bitcoin. Restaking Protocol Kelp DAO Secures million Leading the investment round were SCB […]
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Farcaster Secures $150M in Funding, Reaches $1B Valuation With Backing From Paradigm
Farcaster, a decentralized social media platform leveraging the Ethereum blockchain and Optimism’s Layer two ecosystem, has successfully raised 0 million in a funding round led by Paradigm, bringing its valuation to billion. The funds will be used to sustain the project’s development, focusing on growing its user base and enhancing developer tools, after the […]
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