Schlagwort: crypto business

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Fabric Ventures is closing in on $245M in two Web3 funds: Report

UK-based Fabric Ventures supports both early-stage and later-stage projects, with Polkadot, Decentraland and Bitstamp among earlier beneficiaries.

Fabric Ventures, a London-based capital venture investment firm, is on the verge of closing to Web3 funds as it looks to bolster its wallet ahead of several investments.

Per a report in The Block, the company is set to raise a total of €225 million (roughly $245 million).

Fabric expects to close the first of the two funds, at €125 million (about $136 million), soon. This fund was significantly oversubscribed according to Fabric Ventures managing partner Richard Muirhead, the reason for the raising of the cap to €125.

Once closed, the company will use the funds to support early-stage projects.

Meanwhile, the company is set to close another €100 million ($109 million) fund later this April. As it has done over the past few years, Fabric Ventures will use the second fund to help projects scale as part of its goal of supporting later-stage investments.

The fund will be targeted for projects seeking series B funding or beyond.

The funds follow on from Fabric Ventures’ July 2021 raising of $130 million from various backers. A notable contributor to the fund was the European Investment Fund (EIF), which put in $30 million.

According to Muirhead, Fabric is eyeing fresh funds in 2023.

Projects in the digital assets space to receive investment backing from Fabric include crypto exchange Bitstamp, blockchain platform Polkadot (DOT) and metaverse linked protocol Decentraland (MANA). The VC firm has also contributed to Axie Infinity developer Sky Mavis.

The post Fabric Ventures is closing in on $245M in two Web3 funds: Report appeared first on Coin Journal.

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KuCoin, Huobi back $250M Toncoin ecosystem fund

  • Toncoin Fund seeks to bring DeFi, NFTs and Metaverse projects onto the TON blockchain.

  • Telegram abandoned TON (The Open Network) blockchain project in 2020 after the SEC sued it over the $1.7 billion ICO

Kucoin Ventures and Huobi Incubator have joined other top crypto-focused investments in backing a $250 million ecosystem fund for Toncoin.

Others to contribute to the fund are 3Commas Capital, MEXC Pioneer Fund, Orbs, Kilo Fund and TON Miners.

Toncoin is a blockchain and cryptocurrency project that arose out of the failed TON blockchain, a platform whose development had been spearheaded by Telegram.

But the messaging service halted its involvement in TON in 2020. This is after the US Securities and Exchange Commission (SEC) sued it. The agency had maintained Telegram’s $1.7 billion initial coin offering (ICO) involved the sale of unregistered securities.

TON (The Open Network) lost the case, with Telegram choosing to refund US investors. The TON community, however, continued to build on the blockchain, which now runs independently under the Ton Foundation.

TON Ecosystem fund targets Web3 development

In an announcement released Monday, the Foundation plans to use the funds to promote developer activity via incubation and grants. The fund will also provide investment and be used in the launch of hackathons to encourage further development.

The TON Foundation wants to use the ecosystem funds to bring Web3 to the blockchain. Projects will range from decentralised finance (DeFi), non-fungible tokens (NFTs), metaverse and data and infrastructure services, according to details on the TON protocol website.

Integration with Telegram is one other major development the Foundation is eyeing. If it happens, it will effectively make the cryptocurrency easily accessible to 600 million users currently making up the encrypted messaging app’s monthly user base.

The post KuCoin, Huobi back $250M Toncoin ecosystem fund appeared first on Coin Journal.

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KuCoin lists Findora, a public blockchain with programmable privacy

KuCoin listed Findora (FRA) today, the token of a public blockchain with programmable privacy and full EVM compatibility. The supported trading pair is FRA/USDT.

Deposits effective immediately 

Deposits on the supported FRA network are effective immediately. Trading begins at 09:00 UTC tomorrow, April 12. Withdrawals will become possible at 10:00 UTC on April 13, 2022. 

Details 

The total supply of Findora is capped at 21 billion FRA. The issue price is $0.058. Findora uses the latest discoveries in zero-knowledge proofs and multi-party computation. This makes it possible for users to carry out private transactions with selective auditability.

The project was originally conceptualized as university cryptography research. It was launched to the public in 2021. 

Benefits of Findora 

This public, decentralized, multi-purpose transactional system allows users to operate over a ledger in a confidential, yet publicly auditable way. It hosts assets, transactions, and programmable contracts that guarantee privacy and compliance.

The blockchain runs on a decentralized network of operators not unlike Ethereum and Bitcoin. At the same time, it supports side ledgers, which a number of interoperable networks run. 

A conventional financial institution can use these side ledgers to replace the infrastructure it is operating on. This platform can issue all kinds of assets. Its mission is to resolve the challenges related to digital asset support and diverse financial use cases. 

The ecosystem is focused on retaining the transparency and public accessibility of other blockchain-based systems. It aims to achieve this privacy preserving transparency.

About KuCoin

KuCoin bills itself as a crypto exchange for, by, and of the people. It is leveraging cutting-edge technologies to create useful services to improve accessibility to the blockchain revolution.

The community KuCoin is helping develop will enable everyone to benefit from growth and to have their opinions heard.

KuCoin is creating an ecosystem around KuCoin Token (KCS), which will be the user’s guide into a flourishing decentralized world that all community members have helped build. 

The post KuCoin lists Findora, a public blockchain with programmable privacy appeared first on Coin Journal.

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Highlights April 11: Market bearish, KNC crashes top 100

The crypto market as a whole was bearish with few coins in the green at the time of writing. The majority of top 10 cryptos registered losses over the past 24 hours.

Top cryptos

Bitcoin was priced at below $43,000 at time of writing. Other cryptos were also lower, including Ethereum, down around 1%, and Cardano and XRP, registering losses of 2% and 3%, respectively. 

Bitcoin dropped below $42,000 for the first time since March 23. The flagship crypto is sliding back further into the range in which it has traded so far in 2022. According to Bloomberg, this is due to mounting concerns about rising interest rates. 

In Asian hours today, it had dropped to $41,918. It has been retreating over the past week. 

Since the Fed announced tightening monetary policy, most major cryptos have seen their value decline. Surprisingly, last week’s Bitcoin 2022 conference in Miami did not have a positive effect on Bitcoin’s price.

Top movers

The top 100 was equally bearish. Two exceptions to the rule were Zilliqa (+4%) and Stepn (+6%). KNC, the token of Kyber Network, crashed into the top 100 today with gains of 15% in the last 24 hours. 

It expanded to ten different blockchains, integrated with Uniswap v3 and took part in Avalanche’s new developer incentive. This led to a 50% price increase of Kyber Network’s KNC token yesterday.  

Trending

Shiba Toby continues to rally. Shiba Toby bills itself as “the ultimate all-in-one token, providing the very best in cutting edge coding”. Holders get 5% reward for each sell transaction. 

Shiba Toby is a hyper-deflationary token with an automatic distribution of rewards. It gained 2,266% today.  

The post Highlights April 11: Market bearish, KNC crashes top 100 appeared first on Coin Journal.

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ROSE is underperforming ahead of Oasis Network’s Damask upgrade

The broader cryptocurrency market has been underperforming over the weekend.

The cryptocurrency market has been underperforming as the new week commences. Over the past 24 hours, the broader cryptocurrency market has lost nearly 2% of its value and now has a total market cap of $1.9 trillion.

Bitcoin, the world’s leading cryptocurrency, has lost 1% of its value today and trades below the $43k mark. Ether continues to struggle and could slip below the $3,000 psychological level if the bearish run continues.

ROSE, the native token of the Oasis Network, is also down by more than 2% over the last 24 hours. At press time, ROSE is trading at $0.2515 per coin.

The poor performance comes despite the Oasis Network getting read for its Damask protocol upgrade. The Oasis Foundation announced a few hours ago that the Damask upgrade will occur later today. 

The Oasis Foundation said the Damask upgrade would provide many improvements, including increased security and performance, strengthened governance mechanisms, and more decentralization.

However, it remains unclear if ROSE would rally in a few hours after the network upgrade has been completed. 

Key levels to watch

The ROSE/USD 4-hour chart is currently bearish as the coin has been underperforming over the past few days. The technical indicators show that ROSE is performing poorly at the moment.

The 14-day relative strength index currently stands at 42, down from the 68 recorded last week. The RSI shows that ROSE could soon enter the oversold region if the bearish momentum continues. 

The MACD also slipped into the negative zone over the weekend as the bears took control of the market. If the current market momentum persists, ROSE could drop below the first major support level at $0.2183 before the end of the day.

However, the major support level at $0.18836 should limit further downward movement in the short term.

If the bulls regain control of the market, ROSE could test the first major resistance level at $0.29356 over the coming hours. 

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