Category: Press release

Coinbase to propose a federal regulatory framework for crypto to US officials within the next month

Coinbase Co-founder and CEO Brian Armstrong

Image Credits: Steve Jennings / Getty Images

Cryptocurrency trading platform Coinbase wants to help guide any emerging regulation on exchanges like itself, for obvious reasons, and in an interview with TechCrunch Editor-in-Chief Matthew Panzarino at TechCrunch Disrupt 2021 on Tuesday, Coinbase CEO and founder Brian Armstrong revealed it’s preparing a draft regulatory framework for consideration by federal lawmakers which it aims to distribute sometime within the next month.

“Coinbase wants to be an advisor and a helpful advocate for how the U.S. can create that sensible regulation,” Armstrong said in the interview. “In fact, there’s a proposal that we’re putting out at the end of this month, or maybe early next month, that is our proposed regulatory framework.”

Regulators typically seek industry feedback when forming new rules, particularly in industries where the pace of technological advancements mean that progress in the market has far outpaced the development of new, and amendment of existing, regulation. Armstrong said that he has in fact been asked multiple times for such a proposal.

“When I go to DC, I’ve met with a number of people in government, and they typically will ask us ‘Well, do you have a draft, do you have a proposal of something we could try to shop around about how this could be regulated federally?’,” he said. “Because right now, Coinbase has, you know, 50 different state regulators for money transmission licenses, 50 for lending licenses, you know, FINCEN, and SEC, and CFTC, and IRS and Treasury and OFAC.”

Armstrong clearly would prefer if there were an overarching federal framework that would alleviate the burden of dealing with independent state-by-state rules and agencies. But he also did seem aware that any proposal they put forward will definitely be just a single piece of a larger puzzle, which will include input from other industry entities working in crypto as well as guidance from existing related regulations.

“We have a proposal that we actually want to put out there that could help maybe create at least one idea about how to move forward,” he said. “But this is going to require input from a lot of people and that willingness [on the part of lawmakers] to kind of engage with private industry and learn about what the opportunity is here.”

Coinbase recently clashed with the SEC after teasing the launch of a ‘Lend’ product that would allow its users to stake their crypto holdings in exchange for a return in the form of yearly interest. The SEC threatened to sue over the product since it signalled that this would represent security, and be regulated as such, and Coinbase quietly walked back its plans to debut the product for now shortly after making public the SEC’s threat and articulating its lack of comprehension about the potential regulatory backlash.

Blockinvest Ventures is hereby to help you understand more regarding the investment industry with conscientious advice. We hope that you can feel the article was helpful and don’t forget to subscribe our website for further news!

DeFi investor platform Zerion raises $8.2 million Series A

zerion-teamImage Credits: Zerion

While crypto exchanges have demystified some of the largest cryptocurrencies for retail investors, many of the intricacies of decentralized finance are still lost on even more savvy investors as a result of DeFi weave of diverse offerings.

Zerion, a startup building a decentralized finance “interface” for crypto investors, has attracted venture capitalist attention on the back of recent growth. Amid a renewed crypto gold rush, the company has processed more than $600 million in transaction volume so far this year, now with over 200,000 monthly active users, CEO Evgeny Yurtaev tells TechCrunch.

The startup has also wrapped an $8.2 million Series A funding round led by Mosaic Ventures, with participation from Placeholder, DCG, Lightspeed and Blockchain.com Ventures, among others. Mosaic’s Toby Coppel and Placeholder’s Brad Burnham have joined Zerion’s Board, the startup also shared.

Zerion gives customers access to more than 50,000 digital assets and 60 protocols on the Ethereum blockchain through their app, which streamlines the UI of DeFi. Users can access tokens and invest through the app similar to exchanges like Coinbase or Gemini, but do so using their own personal wallets like MetaMask, meaning user funds and private keys aren’t controlled by or accessible to Zerion, a sticking point for Yurtaev, a lifelong crypto enthusiast and builder.

Image Credits: Zerion

“There are a bunch of different tokens and protocols in the DeFi space,” Yurtaev says. “In theory, it’s supposed to be easy to navigate, but in reality, it’s all a mess … We try to demystify them.”

Alongside major growth in Ethereum and bitcoin prices, DeFi volume has surged in 2021, up from just under $20 billion at the year’s start to nearly $90 billion this May. The DeFi market at large has proven just as volatile as bitcoin, with market volume falling some 35% in the past couple months to just over $57 billion.

The startup’s mobile app on iOS and Android has become a particularly popular way for crypto investors to track the market and the tokens they’re backing. The average user opens the app more than nine times per day, the company says.

Crypto’s 2021 upswing has drawn plenty of investor attention, not only to the assets themselves but to the platforms facilitating those transactions. Last month, venture capital firm Andreessen Horowitz announced that they had raised more than $2.2 billion to invest in startups building products in crypto spaces including decentralized finance.

Blockinvest Ventures is hereby to help you understand more regarding the investment industry with conscientious advice. We hope that you can feel the article was helpful and don’t forget to subscribe our website for further news!

Blockinvest Ventures funds $30M capital for the development of a potential project Bitcoinnami

Cryptocurrency has always been a craze sector, especially in the recent, the prices of the crypto-coins have been steadily rising despite Covid-19 pandemic which has damaged the capital market.

Following the early stages of Bitcoinnami, Blockinvest Ventures highly appreciate the project’s vision and roadmap as well as the potential of the product their team created. Therefore, this venture have decided to invest $30M in this project, which is the first step for us to build beneficial partnerships and start with the future development orientation.

Blockinvest Ventures is a financial technology project that allows businesses to create bespoke financial instruments. The company seeks to replace current financial procedures by improving the journey of an instrument operator, providing means to enter the blockchain markets and remain compliant. BlockInvest has been investing for many crypto projects and exchanges, they have a full-scale global operation with the ability to trade on all major exchanges and markets.

BitcoinNami is envisioned as one of the first heterogeneous multi-chain frameworks designed to facilitate cross-chain interoperability and scalability of blockchains. This platform functions itself as a global payment connector. With simple technical applications built into the protocol of the system and firm cooperation and integration with international exchanges, users can promptly swap and trade BTCN and other tokens without any troubles.

The fundraise looks like a highly strategic one and so BlockInvest decided to invest 30 million USD to nurture the growth of this application implied for BTCN system’s technology and ideas. At the same time, the venture will make recommendations on strategic directions in the coming time to suit the trends of the times, especially develop ecosystem-oriented strategy.

Matic Raises $10M from Blockinvest Ventures

Matic network provides scalable, secure and instant Ethereum transactions. Matic wallet will enable users to interact easily with Matic network while having a simplified User experience to make faster transactions.

The key aim is to change the decentralized transactions by leveraging a combination of blockchain scaling, developer platform and tools, and a rapid focus on User experience.

Matic network provides scalable, secure and instant Ethereum transactions. Matic wallet will enable users to interact easily with Matic network while having a simplified User experience to make faster transactions.

The key aim is to change the decentralized transactions by leveraging a combination of blockchain scaling, developer platform and tools, and a rapid focus on User experience.

Matic wallet will help users to interact with DApps and sign transactions easily while keeping their private keys safe on their mobiles. This is a great way of making blockchains reachable to mainstream users.

As mentioned earlier, Matic network aims to solve the problems faced by the blockchain ecosystem by building a decentralized platform using an adapted version of the Plasma framework. This enables low-cost transactions using Matic’s sidechain while also increasing the throughput.

Blockinvest Ventures is a leading investment fund specializing in blockchain technology, privacy-preserving technologies, and early-stage projects. This investment is aligned with goals to achieve adoption through better usability alongside scalability and will help realize the vision to achieve scale for decentralized applications.

Bat attention (BAT) Raises $20 Million in Round with Blockinvest Venture

Several companies participated in BAT’s latest funding round, including Blockinvest Venture, Standard Crypto and other venture.

The new funds will go toward extending the project’s reach.

The company has raised more than $20 million in the past through separate fundraisers, including a $3 million venture capital round in July 2020 and a $17 million ICO in 2017.

BAT REMAIN STRONG

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BAT has seen stunning results since its integration into the Brave browser’s first global private ad platform: 25.4 million monthly active users, 9.2 million daily active users, 1 million verified creators accepting BAT, millions of wallets created, thousands of ad campaigns with leading brands, and growing utility in the most innovative names in blockchain gaming. The results make BAT one of the most, if not the most, successful alt–coin projects to date.

byMike DaltonOc

Decentraland – a blockchain VR project, has raised $13 million in new funding

A virtual reality project built on top of blockchain technology has raised over $13 million from Blockinvest Venture-a leading investment fund specializing in blockchain technology, privacy-preserving technologies, and early-stage projects.

Decentraland, as previously reported by CoinDesk, is looking to create a virtual world, in which blockchain acts as a registry for digital plots of land. Among those involved is developer Manuel Aráoz, who also built the bitcoin document timestamping tool Proof of Existence.

Besides, Kicking off yesterday afternoon, the ICO raised 86,206 ether ($26,203,082 at press time), according to the Decentraland website, and hit its pre-set hard cap in a little over an hour.

The speed with which the raise was completed evoked memories of the Brave sale in May, which concluded in an astonishing 30 seconds. Perceptions that, as a result, the tokens sold will have ended up in the hands of a few bigger investors stoked some criticism on social media.

Decentraland’s ICO is the latest in a string of such crowdsales, as illustrated by data from CoinDesk’s ICO Tracker, that have raised more than a billion dollars-worth of cryptocurrency to date. More than $500 million was raised in July alone through the funding model.

Also completed this week, was an ICO held by 0x, a decentralized exchange project, which raised $24 million.

ChiliZ raises $60 million from Blockinvest Ventures and other organisations

Blockinvest Ventures-a leading investment fund specializing in blockchain technology, privacy-preserving technologies, and early-stage projects, has invested in blockchain esports and traditional sports voting platform, chiliZ.

The amount invested by Blockinvest Venture is undisclosed, but it will “work hand-in-hand” with chiliZ to “engage with the sports industry and develop a fan-driven token ecosystem for traditional sports teams.”

Alexandre Dreyfus, CEO of chiliZ discussed this investment: “Blockinvest Ventures’s significant investment in chiliZ will boost our current private placement offering and help us to move faster. Their support will help us deliver our vision globally, increase our visibility in the blockchain ecosystem and empower our technical vision. I’m also excited that Blockinvest Venture is setting-up in UAE, where we will be able to share resources, enabling a more strategic partnership.”

Another announcement from the platform has revealed that it has reached its goal of raising $65m (£48.6m) through a global private placement place for chiliZ tokens.

Dreyfus also touched on the amount of money chiliZ has raised: “We have been overwhelmed by the demand for chiliZ tokens in the last few days. It has been a combination of hard work from the team, but also our strategic partners who invested and believe in our long-term vision. This gives us a great runaway to develop and deploy our vision, and to start looking at acquisitions.”

In late May, chiliZ announced plans to invest $10m (£7.4m), at least, into organisations who compete in Battle Royale titles. There main three titles in this genre are Fortnite, PlayerUnknown’s Battlegrounds, and H1Z1. chiliZ has a strong advisory board with well-known people from the esports industry, such as Fnatic’s CEO Wouter Sleijffers and Team Vitality’s CEO Nicolas Maurer.

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