FTX CEO says he could spend ‘north of $100 million’ during US elections in 2024

Sam Bankman-Fried, chief executive of crypto exchange FTX, said Tuesday that he could spend significant funds during the 2024 election cycle in the United States. Speaking to host Jacob Goldstein of the What's Your Problem? podcast, Bankman-Fried spoke about his funding efforts in US elections to date and how that work might evolve in the lead-up...

39m

Standard Crypto raises new $500 million fund: Axios

Venture capital firm Standard Crypto has raised a new $500 million fund, according to a report from Axios. Axios cites a source familiar with the process. The fund will "invest in both equity and crypto," according to the report. In an interview on The Scoop podcast earlier this year, co-founder Alok Vasudev discussed like non-fungible tokens and...

1h

Fidelity’s bitcoin index fund surpasses $125 million in investments

Almost two years on from its launch Fidelity Investments bitcoin index fund has seen a drop in the growth of in-bound investments year on year, regulatory filings show.  The Wise Origin Bitcoin Index Fund went public in August 2020, giving Boston-based Fidelity the ability to offer clients bitcoin exposure. Almost nine months later the fund had raised...

2h

DEX protocol Uniswap hits $1 trillion cumulative trading volume milestone

Since its first iteration went live in 2018, Uniswap has seen over $1 trillion in crypto be traded on the decentralized exchange (DEX) protocol. The decentralized exchange hit this lifetime cumulative trading volume mark on Tuesday, according to an announcement on Twitter from Uniswap Labs. Uniswap has dominated the decentralized exchange market...

3h

Merit Circle DAO proposal seeks to ‘trim the fat’ by booting early-stage investor

Two big names in the play-to-earn gaming scene are scrambling to come to a compromise after a member of Merit Circle’s decentralized autonomous organization (DAO) proposed ousting Yield Guild Games (YGG) as an investor last week. The proposal came following a lackluster response to a request for investors to outline their intentions “past and future”...

4h

Terra’s ‘vortex of death’ brings scrutiny from South Korean regulators

South Korea’s financial regulators came together on Tuesday to discuss how to address fallout from this month’s collapse of the TerraUSD stablecoin.  The Financial Supervisory Service (FSS), the Fair Trade Commission (FTC) and the Financial Service Commission (FSC) shared updates following an emergency meeting held at the National Assembly, according...

4h

CFPB establishes new innovation unit to give clarity on existing rules

The Consumer Financial Protection Bureau is replacing its Office of Innovation with a new unit to support a broader initiative. The new "Office of Innovation and Competition" will replace the previous Office of Innovation, which focused on analyzing areas needing special regulatory treatment for individual companies. That office was tasked with processing...

4h

MicroStrategy trading at 18-month low following crypto and stock market drop

MicroStrategy was trading at 18-month lows on Tuesday as cryptocurrency prices continue to fall in tandem with broader financial markets. Shares in Michael Saylor's software company were trading at $188.50 at the time of writing, according to Nasdaq data via TradingView. This represents a drop of more than 55% over the past month, down from $427.05...

5h

Metaverse: Is Land Scarcity Good or Bad?

Quick Take The main distinction between the physical and the virtual worlds is that lands in the former are naturally scarce.  The artificial scarcity imposed on web3 lands is keeping the lands from being productive and potentially leads to a web3 land crisis. The article discusses land value tax as one of the ways to curb extreme web3 lands speculations....

6h

Adam Neumann-backed blockchain startup Flowcarbon raises $70 million

Flowcarbon, a startup co-founded by former WeWork CEO Adam Neumann, has raised $70 million to develop its blockchain-based carbon trading tools. The round, which included both venture capital funding and a token sale, was led by Andreessen Horowitz's crypto unit, according to a statement on Tuesday. Other investors include General Catalyst, Samsung...

7h