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Crypto Evening Briefing: FTX Negotiates for Return of $400 Million From Modulo Capital; EU Now Accepting Applications for its Blockchain Regulatory Sandbox

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FTX Negotiates for Return of $400 Million From Modulo Capital

The founders of Modulo, which has drawn scrutiny from prosecutors investigating FTX’s implosion, are now negotiating the return of the funds with bankruptcy lawyers representing the exchange, said two of the people, who were not authorized to speak publicly. There is no indication that the Modulo founders did anything wrong, and they are looking for FTX to release them from certain legal liabilities in exchange for returning the money, one of the people said.

Coinbase CEO Busy Selling Stock to Fund His Other Startups

Coinbase CEO Brian Armstrong is well on his way to fulfilling a pledge to sell company stock to fund his new ventures. Last October, Armstrong promised to sell 2% of his total Coinbase stake over the next year, with proceeds going to projects like life extension unit NewLimit and science startup Research Hub, both of which he co-founded.

Sequoia Capital, Paradigm Among VCs Facing “Tricky” FTX Investor Lawsuit

A Feb. 15 Bloomberg report revealed a class-action suit filed Feb. 14 by FTX investors against venture capital firm Sequoia Capital and private equity firms Thoma Bravo and Paradigm. The firms were accused by the investors of touting “their own investments” of hundreds of millions of dollars in FTX.

EU Now Accepting Applications for its Blockchain Regulatory Sandbox

The European Union's executive arm on Tuesday launched a regulatory sandbox for innovative applications of distributed ledger technologies (DLT) that underline crypto.

China Telecom and Conflux Network To Pilot Blockchain Enabled SIM Card in Hong Kong

Today China Telecom and Conflux Network announce a partnership to bring Blockchain SIM cards (BSIM) to market. The entry-level Web3 product will be the largest blockchain hardware product ever seen globally, involving the most users and applications. China Telecom will launch the first BSIM pilot program in Hong Kong later this year. 

Market Watch

As of press time, according to Cointime data:

BTC 's live price is $22,716.68 USD, jumped by 4.65% in the last 24 hours;

ETH’s live price is $1,579.73 USD, jumped by 4.60% in the last 24 hours;

BNB’s live price is $303.92 USD, jumped by 3.24% in the last 24 hours;

XRP's live price is $0.3877 USD, jumped by 4.76% in the last 24 hours.

Fundraising News

Ironblocks Raises $7 Million To Build Blockchain Cybersecurity Platform

Tel Aviv-based cybersecurity startup Ironblocks has raised a $7 million seed round to build a blockchain-native cybersecurity platform. The round is co-led by Collider Ventures and Disruptive AI. Other investors include ParaFi, Samsung Next and Quantstamp, as well as angel investors such as the former chief technology officer of Coinbase Balaji Srinivasan and Simplex co-founder Nimrod Lehavi, said a company release.

NFEX Raises $3M Seed Round to Build NFT Derivatives DEX

NFEX has completed a $3 Million seed round led by ABCDE Capital and included investment from other well-known institutions including Amber Group and Firestone Ventures. NFEX strives to build the best derivative NFT market, creating new opportunities to attract greater liquidity to the NFT marketplace.

Nomura’s Laser Digital Invests in DeFi Protocol Infinity Exchange

Laser Digital, the crypto subsidiary of Japanese financial services giant Nomura, invested in Infinity Exchange, a decentralized finance (DeFi) protocol for institutional lending and borrowing.

The NFT Gaming Company, Inc. Announces Pricing of $7 Million Initial Public Offering

NFT Gaming, a company developing a digital gaming platform and community that will offer users the ability to mint unique avatars playable in all of the games on the platform in the form of NFTs, today announced the pricing of its initial public offering of 1,686,747 shares of common stock (the “Common Stock”) at a public offering price of $4.15 per share of Common Stock, for aggregate gross proceeds of approximately $7 million, prior to deducting underwriting discounts, commissions, and other offering expenses and excluding any exercise of the underwriters’ option to purchase any additional securities as described herein.

Creditcoin Has Secured an Investment From DWF Labs

Creditcoin, an interoperable public credit bureau built on a public blockchain, has secured an investment from international Web3 investment firm, DWF Labs. The investment will help accelerate Creditcoin’s global adoption by various financial institutions and protocols that are seeking to build the future of credit on-chain through DWF’s existing ecosystem of investment partners.

Get the latest news here: Cointime channel — https://t.me/cointime_en

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