Florida Man and Company Sue Crypto Mining Operators for Securities Violations and Breach of Contract
June 21 (Cointime) - Roberto Rubim and his company, Orion30 LLC, have filed a lawsuit against Andrey Kechik, Andrey Taranov, Crypto LLC, and GOGO Technologies LLC in Clark County Superior Court.
Reserve invests $20M in governance tokens of yield farming apps Curve, Convex and Stake DAO
June 21 (Cointime) - Stablecoin protocol Reserve has announced a $20 million investment in the governance tokens of yield farming apps Curve, Convex, and Stake DAO. The investment aims to increase the liquidity of Reserve's stablecoins, known as RTokens, and boost Reserve's voting power in these apps' governance systems.
Getaverse Receives Investment From Hotcoin To Develop Credit Risk Management System and AI Components
June 20 (Cointime) - Getaverse has announced that it has received investment from Hotcoin, which will be used to continue developing the credit risk management system and AI components to enhance user experience.
Seven Crypto Startups Raise Over $46M, Including Spanish Exchange Bit2Me's $15M for Latin America Expansion
June 18 (Cointime) - Seven cryptocurrency startups raised a total of $46 million this week, with Bit2Me, a Spanish exchange, receiving the largest investment of $15 million to expand into Latin America. Two startups focused on streamlining crypto payments, Poko and BoomFi, raised $4.5 million and $3.8 million respectively. Other notable fundraises included Connext, ResearchHub, Mnemonic, and Collectibles.com. This news comes after Coinbase and Binance faced scrutiny from the SEC for allegedly selling unregistered securities, but Bit2Me's services are not available in the United States.
Institutional Investors Seek Traditional Finance Backing for Crypto Investments
June 16 (Cointime) - According to a survey by Laser Digital, institutional investors are interested in investing in cryptocurrencies as part of their portfolio strategy, with 96% viewing digital assets as an opportunity to diversify their investments.
Jiangning District in China's Nanjing City Unveils Three-Year Metaverse Development Plan
Jiangning district in Nanjing City, China has unveiled its three-year metaverse development plan, which aims to attract 200 metaverse companies to the district and train 10,000 professionals in the industry.
BuuPass Mobility Digital Infrastructure Company Gets Funding From Adaverse To Integrate Web3 and Expand Markets
African online ticketing platform BuuPass secures investment from Adaverse to integrate Web3 interface and expand market. The platform aims to digitally solve problems in Africa's transportation system, improve efficiency and customer experience, and capture Africa's long-distance transportation market valued at 40 billion US dollars. BuuPass has successfully sold over 9 million tickets, achieving a gross merchandise volume (GMV) of $30 million in 2022. The company plans to further expand its business scope, including air tickets, train tickets and other services, and explore the application of blockchain technology in loyalty programs, smart contract bookings and other aspects. Adaverse is a Cardano accelerator with operations in Africa and Asia dedicated to supporting the development of Web3 projects.
El Salvador's Volcano Energy Secures $1B in Commitments For 241 MW Bitcoin Mine
Volcano Energy has secured $1 billion in funding to build a 241 MW bitcoin mining operation in El Salvador's Metapán region. The mining site will be powered by 169 MW of solar and 72 MW of wind energy, producing over 1.3 exahash/second (EH/s) of computing power.
Crypto startups raise $126 million, but Magic Labs stands out with $52 million strategic round led by PayPal Ventures
Several crypto startups raised a total of $126 million this week, with Magic Labs receiving the largest investment of $52 million in a strategic round led by PayPal Ventures. Magic Labs provides wallet software development kits (SDKs) to clients, including Macy's and Mattel, who then customize their crypto wallets and offer them to customers via their apps.
ZkPass Wins Binance’s Web3 Reality Show “Build the Block” With Decentralized Identity Verification Solution
Binance has declared zkPass as the winner of its Web3 reality show "Build the Block," where startups competed for an investment from Binance Labs. The decentralized identity verification solution that preserves privacy won the competition after receiving the highest votes. Binance chief business officer Yibo Ling expressed excitement about the growth of the competition's winner and their aim to build sustainable ecosystems enabled by zero-knowledge proof techniques. Apart from zkPass, Binance Labs also offered investment to four other contestants, including Mind Network, Kryptoskatt, Bracket Labs, and DappOS. Additionally, Anoma has secured $25 million in funding to build a generalized "intent-centric" blockchain architecture.
