A16z, a tech-focused venture capital company, has announced that it will open its first office in London to take advantage of the friendly regulatory environment in the U.K. Prime Minister Rishi Sunak stated he was thrilled about this expansion and that the U.K. would continue to embrace innovations like Web3, powered by blockchain tech. A16z…
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Cointelegraph presents Pitch Room, where innovation meets opportunity. Cointelegraph presents Pitch Room, a new stage in the effort to boost innovation in the crypto space, dedicated to investors interested in deal flow. Pitch Room opens doors for promising startups in the Web3 space, exploring new markets and building solutions with the potential to disrupt the…
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Whampoa Group started its digital asset arm in 2021 and has invested in a $500 million Binance Labs fund along with TikTok parent ByteDance. The Whampoa Group, a family office based in Singapore, will open a digital bank in Bahrain, the kingdom’s Economic Development Board said on May 18. The Group expects to open the bank…
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OPNX chief Leslie Lamb called out a number of venture capital firms on Twitter after some rushed to distance themselves from the company. A number of supposed Open Exchange (OPNX) investors have been blasted by the CEO of the crypto claims trading platform after some publicly distanced themselves from the project after being named as…
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DeFi firm Nascent was also claimed as a backer, but it has clarified that it only bought FLEX tokens from the company’s previous incarnation. OPNX, an exchange jointly founded by members of the Three Arrows Capital (3AC) and Coinflex teams, has revealed the venture capital firms purportedly backing it. An April 21 video posted by…
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Crunchbase noted that while it has been a bearish start for Web3 start-up funding in 2023, “venture funding is down in almost every sector.” According to data from Crunchbase, venture capital (VC) funding into Web3 start-ups tanked 82% year-over-year (YoY), declining from $9.1 billion in Q1 2022 to $1.7 billion in Q1 2023. Crunchbase News…
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The new funds will be used to increase headcount and expand the company’s presence in the Asia-Pacific region. Cross-chain messaging protocol developer LayerZero Labs has raised another $120 million, according to an Apr. 4 announcement. The company plans to use the capital to increase its headcount and expand its reach into the Asia-Pacific region. The…
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According to the Federal Deposit Insurance Corporation (FDIC), the troubled bank Silicon Valley Bank (SVB) was acquired by First Citizens Bank & Trust Company, which is based in Raleigh, North Carolina. First Citizens acquired all deposits and loans from SVB, as well as the 17 branches that SVB owned across the United States. Silicon Valley…
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Despite the ongoing tumultuous market conditions, venture capital investments in European crypto startups hit an all-time high of $5.7 billion in 2022. 2022 was a turbulent year for the crypto space, from an ongoing bear market and high-profile collapses of some of the industry’s most prominent players, like Terra and FTX. Despite the setbacks, venture capital…
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V Ventures, a subsidiary of a Thai shipping company, missed a payment on its $100 million buyout of the troubled crypto exchange. Cryptocurrency exchange Zipmex has reportedly not received the latest payment under its buyout agreement with venture capital firm V Ventures. The exchange has sent a letter to the firm warning that it will…
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