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Brazil’s 2TM raises $50.3 million in second Series B closing

Brazil’s 2TM Group, the parent company of exchange Mercado Bitcoin, has raised $50.3 million in a second closing for its Series B funding round as it eyes Latin America expansion. The unicorn completed the first closing of the round in July, raising $200 million from the SoftBank Latin America Fund.  The second closing acts as an extension where more investors can join the round. New investors include U.S.-based equity fund 10T and venture capital fund Tribe Capital, plus Brazil-based firms …

SoftBank invests $150 million in South Korean metaverse platform Zepeto

Zepeto, a fashion metaverse ecosystem developed by South Korea’s Naver Corp, has secured a $150 million investment from SoftBank. According to the Wall Street Journal, the investment is part of a Series B funding round that puts the metaverse platform’s value at north of $1 billion. Launched in 2018, Zepeto is among several emerging metaverse ecosystems in South Korea and. The WSJ reports that the platform attracts more than 2 million active daily users and it’s mostly popular among females …

Solana-based derivatives network Hxro raises $34 million in token round

Hxro (pronounced “hero”) Network, a Solana-based derivatives trading platform, has raised $34 million in a token round. SIG DT Investments (a Susquehanna International Group company), Jump Crypto, and Blockchain Capital co-led the round, with Alameda Research, Chicago Trading Company, Solana Ventures, Coinbase Ventures, Commonwealth Asset Management, and others also participating. The new funding round comes just four months after Hxro Network raised $15 million. The project is building a decentralized crypto derivatives trading platform, including futures and options. “Think about …

Trends in Banking for Digital Asset Firms — Brought to you by BCB Group

The Block Research was commissioned by BCB Group to create “Trends in Banking for Digital Asset Firms” which provides an overview of firms that provide banking services to crypto companies. To access the full report in PDF format, please fill out the form below:   Abstract:Blockchain technology and crypto assets are giving individuals the tools to go “bankless.”Individuals can self-custody crypto assets and retain sole ownership over them. They can send and receive these assets from anyone, anywhere, on a …

Play Ventures sets up blockchain gaming fund with $75 million committed

Gaming VC firm Play Ventures is venturing into the blockchain gaming world with the launch of a new fund called Play Future Fund.  The new fund has $75 million in commitments and will be dedicated to investing in projects that combine gaming with blockchain technology — potentially even the much-buzzed metaverse. “Web3 and play-and-earn will fundamentally disrupt the way games are designed, played and experienced. Open public blockchains provide a blank canvas for innovators not seen since the inception of …

Kelly ETFs files for Ether futures ETF

Kelly ETFs, an issuer of exchange-traded funds (ETFs), has filed for a U.S. Ether futures ETF. The firm filed a Form N-1A dated today with the Securities and Exchange Commission (SEC). The N1-A is used by investment companies seeking to form open-end mutual funds, and registers a product under both the Securities Act of 1933 and the Investment Company Act of 1940. SEC Chair Gary Gensler previously said he was interested in taking a closer look at proposed crypto products …

Mapping out the Polkadot ecosystem

November 29, 2021, 4:01PM EST Quick Take Polkadot is an open-source cloud computing platform that enables cross-chain transfers of data or assets, without being solely limited to token transfers The Substrate blockchain is used by developers to catalyze the building and launching of Polkadot compatible projects and dApps The actual workings of Polkadot function through the implementation of a Relay Chain, Parachains, Parathreads, and bridges The network contains a native DOT token which plays a substantial role in Polkadot’s governance …

Genesis Trading’s chief technology officer departs firm

Genesis Trading’s chief technology officer Pat DeFrancesco is no longer with the cryptocurrency trading and lending firm, according to a source familiar with the move.  DeFrancesco, a veteran of the trading technology world, joined the firm in June 2019. He previously worked as the chief technology officer and chief operating officer at 7Chord, a firm that develops AI systems for the corporate bond market. Earlier in his career, he was the head of information systems and later chief technology officer …

Twitter names Parag Agrawal CEO as Jack Dorsey steps down

Twitter has named Parag Agrawal as CEO as Jack Dorsey steps down, according to an announcement today. Agrawal was formerly the CTO of Twitter and has worked for the company for 10 years. “I want to thank the Board for their confidence in my leadership and Jack for his continued mentorship, support, and partnership,” said Agrawal. “I look forward to building on everything we have accomplished under Jack’s leadership and I am incredibly energized by the opportunities ahead.” According to …

Former Wall Street banker launches $1.5 billion crypto venture fund

Former Citigroup executive Matt Zhang has launched a $1.5 billion crypto venture fund called Hivemind Capital Partners, according to an announcement on Monday. Hivemind, a new crypto investment outfit based out of New York will focus on four strategies — yield staking, trading, venture capital investments, and play-to-earn (P2E) gaming. Following its interest in the latter area, the company has also hired former Goldman Sachs analyst Sam Peurifoy. Peurifoy quit his job at Goldman Sachs to pursue a career in …