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Genesis is exploring institutional hedging and liquidity products for NFTs

The institutional market for non-fungible tokens is heating up, with Genesis Global confirming that it wants to build out its own platform to address the needs of large traders in this fast-growing corner of the crypto market.  The firm, which traded $100 billion in spot crypto last year, said in its fourth-quarter report that it currently holds “curated NFT collateral” on behalf of certain clients. Indeed, much ink has been spilled explaining the unique role of NFTs in the broader …

Fireblocks raises $550 million in Series E funding, now valued at $8 billion

Fireblocks, an institutional crypto custody provider, has raised $550 million in a mega Series E round and is now valued at $8 billion. D1 Capital Partners and Spark Capital co-led the round, with General Atlantic, Index Ventures, Mammoth, CapitalG (Alphabet’s independent growth fund), Altimeter, and ParaFi Capital also participating. Existing investors such as Sequoia Capital, Coatue, Ribbit, Bank of New York Mellon, Paradigm, and SCB10x, also joined the round. The Series E round comes just five months after Fireblocks raised …