Finance and Business News

Months after the attack on the Ronin Network, it was reported by Bloomberg that Trung Nguyen, the co-founder and CEO of the video game Axie Infinity, moved $3 million worth of AXS, the game’s native token, to the major cryptocurrency exchange platform Binance hours before the hacking incident was made public. Nguyen recently acknowledged transferring $3 million worth of […]

Crypto gaming company Immutable has reportedly laid off more than 20 employees from its team, including core members of Gods Unchained, its NFT trading free-to-play card game. Immutable, which is also called the “Aussie crypto star” with a value of $2.4 billion, announced the 6% layoff decision on Monday during an all-hands meeting hosted by […]

Tether Holdings Ltd, the startup that issues the USDT stablecoin has come out again to debunk rumors bordering on the composition of its reserve asset. According to the company, it says it currently holds no Chinese Commercial paper as a part of its reserve assets. The company criticized the spread of false news, and how […]

Web3-focused Blockchain domain provider Unstoppable Domains has recently become a unicorn after closing a $65 million funding via a Series A funding round led by Pantera Capital. 1/ BIG NEWS 🦄🦄🦄 We’re excited to share that we’ve raised $65 million – at a $1 billion valuation – in a Series A led by @PanteraCapital! 🚀 […]

The International Monetary Fund or IMF recently released its World Economic Outlook update for this month, which suggests that 2022 has been “gloomy and more uncertain.” The IMF’s pessimistic view suggests the possibility that digital asset markets would continue to suffer. It said that “Several shocks have hit a world economy already weakened by the pandemic.” A […]

A recent class-action lawsuit proposal alleged that Yuga Labs “inappropriately induced” the NFT community to purchase Bored Ape Yacht Club NFTs and its native token, ApeCoin (APE). On Thursday, a proposed class action brought by the legal firm Scott+Scott was published, alleging that Yuga Labs had inflated the BAYC NFTs and the APE token prices by using […]

Friday saw the release of Twitter Q2 2022 financial results, which showed lower-than-expected figures for sales, earnings, and customer growth. The company attributed some of the reasons for the slowness to Tesla CEO Elon Musk for causing uncertainty about their acquisition agreement. According to a recent press release, the company’s sales fell by 1% from the […]

Global investment management company SkyBridge Capital has reportedly decided to bring a Web3-focused fund starting in September.  As per a recent report published by Business Insider, the founder of the company, Anthony Scaramucci, is planning to roll out a fund in September that would focus on supporting Web3 and crypto startups. SkyBridge to announce the […]

Investor withdrawal services at Legion Strategies, a hedge fund with a fair amount of crypto exposure, run by Anthony Scaramucci’s global investment company Skybridge Capital, have been suspended. The offshore fund, which is based in the Cayman Islands, has about $250 million in it. SkyBridge suspends Legion Strategies until capital raise Skybridge Capital has announced […]

The leading digital asset management platform Safe (previously called Gnosis Safe) recently announced that it has secured $100 million in a funding round. 1/📢 Important News: We are announcing a strategic funding round of $100 million led by @1kxnetwork to advance digital asset management and unlock ownership for everyone.Read more:https://t.co/hUzlAZiXYO — Old account 👉 follow […]

American financial services company M1 Finance has announced that it is launching trading services and opening crypto trading accounts in the coming weeks.  Introducing M1 Crypto. Learn more about our newest product and why we launched it from our founder and CEO, Brian Barnes: https://t.co/Be5Zy7WqAU. pic.twitter.com/SY8x5Pn9JM — M1 (@M1Finance) July 11, 2022 According to the announcement, the […]

Animoca Brands’ metaverse The Sandbox has teamed up with KEB Hana Bank, a South Korean commercial bank that offers the largest range of foreign exchange products. With the new partnership, the two entities aim to “expand global metaverse business in the banking industry.” According to an announcement made by the metaverse, KEB Hana Bank is planning to […]

Dutch multinational banking and financial services company ING Group has decided to sell its digital asset business Pyctor to multi-asset trading infrastructure company GMEX. Announced today: GMEX Group has acquired Pyctor, a #digitalasset #posttrade network and #MPC custodial technology, from ING. Pyctor will be integral to the MultiHub and our position as the first end-to-end […]

The whereabouts of the founders of Three Arrows Capital, popularly known as 3AC, a Singapore-based cryptocurrency hedge fund, Su Zhu and Kyle Davies, are unknown. Where are Zhu and Davies? The lawyers involved in the liquidation proceedings of Three Arrows Capital’s British Virgin Islands fund are left wondering. The co-founders are not “cooperating” with the […]

The majority state-owned banking and financial services company in Russia, Sberbank, has reportedly executed its first digital asset transaction on its outlet. The bank has carried out a 1 billion ruble ( approx. $15.7 million) issue along with its offshoot. Recall that in June, TheCoinRise reported that Sber is planning to conduct its first DFA transaction in […]

In a lawsuit filed in New York, troubled crypto lending platform Celsius has been accused of fraud, improper management of customers’ funds, and breach of contract by staking software provider KeyFi. KeyFi founder Jason Stone said that Celsius ran a Ponzi scheme and utilized user funds to control the price of its crypto token CEL. The lawsuit […]

Bitcoin mining firm Compass has announced that it is laying off 15% of its employees along with a significant compensation and spending reduction across the rest of its employees and operations. As per the recent announcement by Compass co-CEOs, Thomas Heller and Paul Gosker, the company has made the “difficult decision” for it to stay “agile and […]

The Chinese subsidiary of venture capital company Sequoia Capital has reportedly planned to secure $9 billion for four new funds. As per the report by The Information, the company will use these funds to distribute among the development of fintech and crypto startups in China. The report reveals that the fundraiser by Sequoia Capital will cross the […]