Privy Raises $18M in Series A Funding for API Development in Consumer Crypto Products
Privy, a New York-based company that builds APIs for developers to onboard users to consumer crypto products, has secured $18 million in Series A funding. The funding round was led by Paradigm, with participation from existing investors such as Sequoia Capital, BlueYard Capital, and Archetype. The company plans to use the funds to expand its operations and development efforts. Privy's infrastructure processes millions of transactions every month and has onboarded over one million users to onchain products across various industries. The company's SDK offers authentication flows that enable developers to onboard consumers quickly.
a16z partner: 100% committed to the encryption field and has raised nearly $7.5 billion in funding for the field
Ali Yahya, a general partner at a16z, said that the company has raised about $7.5 billion for the cryptocurrency field. He stated that the company still operates an 85-person cryptocurrency team, while a16z's other co-founder, Ben Horowitz, is more focused on cryptocurrency. Regarding the current investment landscape of cryptocurrency and Web3, Ali Yahya said, "For us, we're not shifting business, we're continuing to operate. There is little competition, and we can make the investments we want."
Fantom pays $1.7 million in rewards to security personnel, preventing $170 million in potential losses
After a cryptocurrency wallet belonging to the Fantom Foundation was hacked last month, the foundation paid a reward of $1.7 million to a security researcher who remains anonymous. The researcher alerted the foundation that the compromised wallet held dormant management tokens for Fantom's FTM token contract. If the hackers had discovered the management tokens in the wallet, they could have minted 1 million FTM tokens directly on the Ethereum network. With FTM trading at $0.17 at the time of the hack, the potential loss for the Fantom Foundation was estimated at $170 million.
Grayscale: Javier Milei as Argentina’s president could pave the way for greater acceptance and integration of cryptocurrencies in the country’s economy
According to a report by Grayscale Research, the election of liberalist Javier Milei as the President of Argentina could potentially lead to a chain reaction in the traditional finance and cryptocurrency fields. Grayscale Research stated: "His presidential term may pave the way for greater acceptance and integration of cryptocurrencies in the Argentine economy, providing potential solutions to long-standing issues of inflation and financial instability."
Crypto ETPs’ total assets under management increased 91% year-to-date
According to Fineqia's data, the total assets managed by cryptocurrency exchange traded products (ETPs) have increased by 91% since the beginning of the year, which is 30% higher than the underlying assets.
Bloomberg: U.S. Department of Justice seeks more than $4 billion from Binance to settle related criminal charges
According to Bloomberg, insiders revealed that the US Department of Justice is seeking over $4 billion from Binance Holdings Ltd. as part of a proposed settlement to a years-long investigation. Insiders revealed that the news could be released as early as the end of this month, but it is still uncertain. The specific timing and structure of the proposed resolution, as well as the specific fees, are not yet clear. Three insiders said the agreement aims to strike a balance that allows Binance to continue operating without risking a collapse that could have a negative impact on the market and cryptocurrency holders.
Canada’s Office of the Superintendent of Financial Institutions seeks feedback on cryptocurrency disclosures
The Office of the Superintendent of Financial Institutions (OSFI) in Canada announced on Monday that it is seeking feedback on the public disclosure of cryptocurrency assets by federally regulated financial institutions, in order to strengthen scrutiny of the volatile industry alongside global regulators. OSFI proposed new guidance for cryptocurrencies in July on the basis of risk environment, followed by consultations. OSFI's consultation will run concurrently with another consultation by the Basel Committee on Banking Supervision (BCBS), a global regulator, which is also seeking feedback from banks on disclosing risks related to cryptocurrency assets.
The circulating market value of TAO (Bittensor) exceeded US$1.5 billion, ranking among the top 50 cryptocurrencies in terms of market value.
According to Bitget market data on November 20th, TAO (Bittensor) briefly broke through $270 with a 5% increase in the past 24 hours, reaching a new all-time high. Currently, TAO's circulating market value is about $1.502 billion, rising to 44th place in the cryptocurrency circulating market value rankings collected by CoinGecko. In the past 24 hours, TAO's trading volume on the MEXC platform accounted for 77.56% of the entire network.
Last week saw four of the largest cryptocurrency funding rounds in recent months
Last week saw the four largest cryptocurrency financings in several months. Cryptocurrency trading and wallet service Blockchain.com raised $110 million in a series E financing led by Kingsway. OSL's parent company, a cryptocurrency exchange, raised $91 million through stock subscriptions. Tokenized currency company Fnality announced the completion of a $95 million financing round led by Goldman Sachs. Cryptocurrency media The Block CEO Larry Cermak confirmed on his social platform that Foresight Ventures acquired The Block for $70 million valuation.
Kronos Research: The attack caused a total loss of US$26 million, which will be borne internally
The cryptocurrency quantification company Kronos Research stated on social media that the attack caused a total loss of 26 million US dollars, which will be borne internally and no partner will be affected. Priority will be given to providing liquidity services for exchanges and token projects.
