Author: Teererai Mukonavanhu

Article written by Teererai Mukonavanhu

Grayscale Ethereum ETF sees over $1 billion in outflows since its debut

15 hours ago 1 min read

Grayscale’s Ethereum ETF (ETHE) lost over $1 billion in three trading days after its conversion, lowering assets under management from $9 billion to $7.4 billion. Inflows were led by BlackRock’s iShares Ethereum Trust (ETHA), which attracted $71 million and followed by Grayscale’s Ethereum Mini Trust (ETH), a spinoff of Ethereum Trust. Fidelity’s Ethereum Fund (FETH), Bitwise’s Ethereum ETF (ETHW), VanEck’s Ethereum ETF (ETHV), and Invesco/Galaxy’s QETH all saw inflows. A

A subsidiary of the Coinbase Group was fined $4.5 million by FCA for onboarding high-risk customers

July 25, 2024 1 min read

The UK’s Coinbase subsidiary, CB Payments Limited (CBPL), has been fined £3.5 million ($4.5 million) by the Financial Conduct Authority (FCA) for multiple violations of anti-money laundering legislation. This is the initial enforcement action carried out by the FCA following the Electronic Money Regulations 2011 against a cryptocurrency company. In October 2020, CBPL voluntarily agreed with the FCA to stop accepting high-risk customers to enhance the firm’s financial crime controls.

Sui Foundation announces the integration of Amazon Web Service’s (AWS) blockchain

July 23, 2024 1 min read

The Sui Foundation has announced the integration of Amazon Web Service’s (AWS) Blockchain Node Runners on Sui, offering developers a self-managed node deployment solution. This allows builders to set up and deploy Sui full nodes within the AWS environment, benefiting from the high availability, scalability, and reliability of AWS’s robust cloud infrastructure. AWS Blockchain Node Runners simplifies the process of running blockchain nodes, allowing users to easily deploy, scale, manage,

Chainbase raises $15 million in a Series A round

July 19, 2024 2 mins read

Chainbase announced it has successfully secured $15 million in a Series A funding round to enhance the development of on-chain data networks. Notable investors such as Tencent and Matrix Partners have participated in this funding round. The company’s objective is to function as a transparent and accessible data framework during the era of artificial intelligence. It seeks to overcome the obstacles of openness and fairness that are impeded by the

Bitcoin ETFs see a $300 million inflow over seven days

July 17, 2024 1 min read

On July 15th, 2024, the total net inflow of $301 million was recorded for all 11 US spot Bitcoin ETFs, marking their continuous run of seven days. The iShares Bitcoin Trust (IBIT) from BlackRock had the highest net inflow of $117.25 million, making it the most actively traded Bitcoin ETF on that particular day. ARK Invest and 21Shares’ ARKB experienced net inflows of $117.19 million, demonstrating significant interest from institutional

A Web3 market maker and investment firm announces plans for continued growth

July 11, 2024 1 min read

DWF Labs, a Web3 market maker and investment firm, has announced plans for continued growth and innovation amidst challenging market conditions. The company has been expanding since its inception and is focusing on transparency and fair market practices. In 2023, DWF Labs was recognized by Binance as the most active investor and Bybit’s top liquidity provider. The firm aims to be the next-generation liquidity partner, providing end-to-end support for its

Bitwise Asset Management is being sued for $2 million by Vandelay Industries

July 10, 2024 1 min read

Vandelay Industries has initiated legal proceedings against Bitwise Asset Management, seeking damages amounting to $2 million. The allegations include accusations of financial impropriety, such as breach of fiduciary duty, carelessness, fraud, and violation of securities laws. In 2018, the Mukamal family made a $1.3 million investment in the Bitwise HOLD 10 Private Index Fund. In 2020, this fund became openly traded on OTC marketplaces and subsequently raised its management fees

Bitcoin miners face profitability challenges due to rising production costs, forcing many to shut down

July 7, 2024 1 min read

Bitcoin miners are struggling with increasing production expenses and unpredictable Bitcoin prices, which hinders their ability to generate profits. The mean expense of extracting a single Bitcoin amounted to $83,668, however it experienced a marginal decline to approximately $72,000 by July 2nd. The exorbitant expenses associated with mining have posed a significant challenge for numerous miners to maintain profitability, particularly given the fact that Bitcoin prices are in close proximity

The sovereign data blockchain for AI OpenLedger raises $8 million in its seed round led by Polychain Capital

July 2, 2024 1 min read

OpenLedger, a blockchain platform designed for artificial intelligence applications, has successfully secured $8 million in its initial funding round. The funding was primarily spearheaded by Polychain Capital and Borderless Capital. OpenLedger offers an infrastructure that allows users to manage data throughout its lifecycle without requiring permission. This infrastructure empowers developers to design more intelligent and efficient models using data that can be verified. The round of investment also includes participation

This company raises $20M in funding to tokenize AI models and enable decentralized AI oracles

June 27, 2024 1 min read

ORA, a provider of verifiable oracle protocols for blockchain-based AI, announced today the successful closing of a $20 million funding round. The investment comes from prominent players in the industry, including Polychain, HF0, and Hashkey Capital. This significant funding injection will fuel ORA’s ongoing development of groundbreaking technology and infrastructure. The team at ORA is dedicated to enabling the tokenization of AI models and fostering a robust decentralized AI ecosystem

MicroStrategy’s bitcoin holdings skyrocket to nearly $15 billion after acquiring 12,000 more bitcoins

June 22, 2024 1 min read

During the period from April to June 2024, MicroStrategy has obtained an additional around 12,000 bitcoins, resulting in a total of around 226,331 bitcoins in their possession. These bitcoins are currently valued at nearly $15 billion. The corporation has allocated approximately $8.33 billion to amass its bitcoin holdings, with an average purchase price of $36,798 per bitcoin. The most recent acquisitions were financed by a senior notes convertible offering, originally

Holograph to burn over 1 billion HLG tokens

June 20, 2024 1 min read

Holograph, the protocol for tokenizing assets across several blockchains, has formed a partnership with Halborn, a specialist in web3 cybersecurity, to conduct periodical audits aimed at enhancing the security of the protocol. Halborn was chosen in response to a recent event in which a malicious attacker successfully created new units of HLG, the native token of Holograph. Holograph will publish a comprehensive report that provides detailed information on the occurrence