Temasek Cuts Pay for Staff Responsible for $275M FTX Investment
- The investment team behind Temasek’s $275 million investment into FTX prior to its collapse “took collective accountability” and had their compensation cut.
- While the company was the second largest outside investor in FTX, it was one of the first to write off its entire investment only days after the collapse of the exchange.
4 hours ago
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Mysten Labs’ Layer 1 Blockchain Sui Launches on Mainnet
- Sui Network was developed by Mysten Labs, which was founded by ex-Meta employees, using the Rust-based Move programming language.
- Unlike other blockchains that use proof-of-work and proof-of-stake consensus mechanisms, Sui relies on delegated proof-of-stake that allows users to elect and vote for delegates.
May 3, 2023, 4:54 PM
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Chaos Labs Raises $20M in Seed Round Co-Led by PayPal and Galaxy Digital
- The new funding will help Chaos Labs build out and expand its suit of risk and security products that can help DeFi protocols.
- The seed funding round was co-led by PayPal and Galaxy Digital, but also saw participation from including Coinbase Ventures, Polygon, Avalanche, OpenSea, Uniswap, and others.
February 22, 2023, 4:48 PM
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Binance Acquires Majority Stake in GOPAX, Re-Enters South Korean Market
- Acquiring a majority stake in the GOPAX crypto exchange will allow Binance to re-enter the South Korean market, two years after it left.
- The funds for the acquisition came from Binance’s Industry Recovery Initiative, and will be used to enable customer withdrawals and interest payments on GOPAX.
February 3, 2023, 12:30 PM
Binance CEO Changpeng Zhao. CoinDesk
Jan 25, 2023
Injective Introduces $150M Fund to Boost Interoperability and DeFi
- The newly launched ecosystem fund is backed by Pantera Capital, Kraken Ventures, Jump Crypto, Kucoin Ventures, Delphi Labs, Flow Traders, Gate Labs and IDG Capital.
- Highest priority will be given to interoperability and DeFi projects, but the fund will also support developers that are building trading platforms, scalability solutions, and PoS infrastructure.
Jan 12, 2023
Genesis Reportedly Owes Over $3B to Creditors
- People familiar with the matter have said that Genesis had hired investment bank Moelis to explore its options to cover the shortfall, but there was little capital infusion interest.
- The sources further said that Genesis’ parent company, Digital Currency Group, was now looking to sell a portion of its venture capital portfolio to fill in the shortfall.
Nov 25, 2022
Binance Launches $1B Industry Recovery Initiative With 7 Contributors
- Binance has officially launched its $1 billion industry recovery fund, and said it is ready to set aside another $1 billion in the near future “if the need arises”.
- Jump Crypto, Polygon Ventures, Aptos Labs, Animoca Brands, GSR, Kronos, and Brooker Group have all joined the fund with a combined contribution of $50 million.
Nov 22, 2022
Genesis Could File for Bankruptcy Without Funding
- Bloomberg sources have said that Genesis warned investors it could possibly file for bankruptcy if it fails to cover a $1 billion shortfall caused by the collapse of FTX.
- Crypto exchange Gemini, whose Earn program was affected by Genesis’ withdrawal suspension, noted it continues to work with the company to fulfil its obligation to Earn users.
Oct 12, 2022
Crypto.com to Invest $145M in France
- Part of the investment will support the establishment of a new Crypto.com European headquarters in the capital city of Paris.
- Funds will also be alocated to hire new talent in the region, and advance the exchange’s brand presence in Europe through customer engagement and education.
Aug 17, 2022
CoinFund Reveales $300M Web3 Venture Fund
- “Venture I” will support early-stage web3 project, with a focus on layer 1 blockchains, NFT, gaming, asset management, and web3 infrastructure.
- CoinFund will mainly invest in projects it has not backed before, with investments ranging from $6 million to $10 million per project.