Digital assets platform FalconX was valued at $8 billion in a new funding round led by Singapore’s sovereign wealth fund GIC and B Capital, more than doubling its valuation in 10 months, its chief executive and founder Raghu Yarlagadda told Reuters, despite the recent slump in crypto markets.
FalconX Funding Round Valuation USD 8 Billion GIC B Capital
South Korea Hits Dozens With Travel Bans Amid Terraform Labs Crypto Probe
South Korean prosecutors have barred dozens of people connected to Terraform Labs from leaving the country as they expand an investigation into a $40 billion collapse of the company’s cryptocurrency that devastated traders around the world.
BlockFi Secures $250 Million Revolving Credit Facility From Crypto Exchange FTX
Crypto lender BlockFi has announced that it had received a $250 million (roughly Rs. 1,955 crore) revolving line of credit from crypto exchange FTX to help bolster its balance sheet.
BTC Short Funds See Major Outflows, May Mean Negative Sentiment Close to Peak
Investors redeemed a net amount of $5.8 million (roughly Rs. 45 crore) from short Bitcoin funds in the last seven days through June 17, a CoinShares report has said. This observation reportedly indicates that the negative sentiment clouding the crypto industry at this point, is close to its peak.
Binance US Wishes to Raise $50 Million in Funding Amid Ongoing Federal Investigation
Binance’s US-focussed subsidiary is expecting to raise around $50 million (roughly Rs. 390 crore) in an upcoming funding round. As per Binance US CEO, Brian Shroder, the dates of this fundraise will be announced soon and it will see Binance US foray into the feared times of ‘crypto winter’ from a ‘position of strength’.
Bitcoin Holds on to $20,000 While Ether, Major Altcoins Slip Under Recession Fears
Bitcoin has been under pressure amid rising interest rates that have driven other cryptos, like the TerraUSD stablecoin and its supporting token LUNA Classic, over the edge. The end of historic low rates has seen most risk assets sell off sharply and that sentiment keeps returning to dent hopes of a massive upside.
Roxe Holdings Said to Go Public in $3.65 Billion Merger Deal With Goldenstone Acquisition
Roxe Holdings, a Blockchain-based payments company, is reportedly nearing a deal to go public through a merger with blank check company Goldenstone Acquisition Limited at a combined valuation of $3.65 billion (nearly Rs. 28,500 crore). Roxe investors are also entitled to an earnout for additional shares in the combined company if certain stock price targets are met.
TRON’s USDD Stablecoin Continues to Remain De-Pegged From the US Dollar
TRON’s USDD has extended its slide below $1 (roughly Rs. 78). It’s been trading below peg for a week now. USDD briefly hit $0.93 (roughly Rs. 72) over the weekend despite various interventions from the TRON DAO Reserve over the past few days.
UK Government Amends Controversial Law Seeking Details of Private Crypto Wallets
The government of UK has decided to roll back a controversial law, that required data collection of crypto users. The law had mandated private crypto wallet providers to extract information.
Crypto Payments Firm MoonPay Inks Deals With Universal Pictures, Death Row Records in NFT Push
MoonPay said Tuesday that it’s partnering with Universal Pictures, Fox Corporation and Snoop Dogg’s Death Row Records, among other brands, to launch a new NFT platform called HyperMint.