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Digital Currency Group unveils wealth management subsidiary

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Digital Currency Group (DCG), a cryptocurrency investment firm founded by Barry Silbert in 2015, has officially launched its long-heralded wealth management subsidiary. Named HQ Digital, it will offer private investments, estate planning, risk mitigation and insurance, among other services, according to its website. It will complement DCG’s existing slate of businesses, which includes asset manager Grayscale, trading business Genesis Global and news site CoinDesk.  “You could think of HQ as a re-envisioned multi-family office, but we prefer to call it …

Vietnamese GameFi startup Ancient8 gets $6 million in tightening VC market

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A Vietnam-based blockchain gaming guild named Ancient8 has secured another capital injection, despite growing caution among venture capital firms that saw at least one prior investor decline to participate. Ancient8 has raised $6 million in a private token sale led by Makers Fund and C² Ventures, according to a statement on Thursday. New and existing backers including Pantera Capital, 6th Man Ventures, IOSG Ventures, Folius Ventures, Morningstar Ventures, Th3ia Capital, Sky9 Capital and Play Ventures also participated. The company didn’t …

Balderton, Animoca Brands back Request Finance in $5.5 million round

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Crypto payments startup Request Finance has won the backing of venture capital firm Balderton Capital and gaming firm Animoca Brands in a $5.5 million seed round.  The startup, which simplifies and automates invoicing, expenses and payroll for both centralized and decentralized companies, also attracted investor interest from VC XAnge and angel investors, such as Aave founder Stani Kulechov and Sebastian Borget, co-founder of The Sandbox. Founder and CEO Christophe Lassuyt said that Request Finance sees itself as a “web3 Bill.com” …

Entropy announces $25 million seed round led by Andreessen Horowitz

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Crypto asset custodian Entropy announced Wednesday that it has closed a $25 million seed round led by Andreessen Horowitz. Dragonfly Capital, Ethereal Ventures, Variant, Coinbase Ventures, Robot Ventures, Inflection and the Komerabi Fund also joined the round, according to a press release. Entropy is developing a decentralized custody platform that uses sophisticated cryptographic techniques based on multiparty computation. The firm led by a self-taught cryptographer and trans activist named Tux Pacific, who self-describes as an anti-capitalist anarchist. The company aims …

European crypto ETN and ETP report: Wednesday, June 8

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Most of the major European crypto investment vehicles closed up on Wednesday, with some products seeing a higher degree of outperformance.  21Shares’ Cardano ETP rose the most, up 4.16% at the close. VanEck’s Tron (TRX) was the worst performer on The Block’s list, closing down -0.36% on Wednesday.  Here is a brief look at how some of the major European crypto investment vehicles performed on Wednesday, June 8: As this is the first daily report on ETP and ETN performance in …

Algo investment advisor Delphia secures $60 million in Series A round

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Algorithmic investment adviser firm Delphia secured $60 million in a Series A funding round led by crypto venture firm Multicoin Capital. Other participants in the round include Ribbit Capital, FTX Ventures, Valor Equity Partners, FJ Labs, Lattice Ventures, Cumberland, Thomas Bailey from Road Capital, and M13.  The new capital will be put towards the launch of the firm’s native rewards token, as well as expand its user base and the way investors can contribute data, per an announcement Wednesday. “Our …

Valkyrie raises $11.15 million in strategic fundraising

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Valkyrie Investments has raised $11.15 million in a new strategic funding round. The round saw participation from the likes of BNY Mellon, Wedbush Financial Services, Clearsky, Zilliqa Capital, C-Squared Ventures, Belvedere Strategic Capital and SenaHill Partners, among others.  Valkyrie has launched a number of trusts this year, with multiple products providing exposure to single assets. Other recently launched products include an exchange-traded fund that invests in firms engaged in bitcoin mining. It also surpassed $1 billion in assets under management …

The 25 biggest fintech funding rounds: May 2022

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Quick Take In May, fintech investment slightly recovered from the prior month’s year low.  Fintech startups raised $7.3 billion in May, up from $6.4 billion in April.  This feature story is available to subscribers of The Block News Plus. You can continue reading this News Plus feature on The Block.

Ledger and VC firm Cathay Innovation launch $110 million crypto fund

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Crypto hardware wallet maker Ledger and global venture capital firm Cathay Innovation have teamed up to launch a €100 million ($110 million) fund to invest in web3 startups. The fund, dubbed Ledger Cathay Capital, is backed by the French public investment bank Bpifrance. Some other investors have also supported the fund, Denis Barrier, co-founder of Cathay Innovation, told The Block, while declining to name them for “compliance and privacy reasons.” Ledger Cathay Capital will invest in early-stage startups across areas …

Kushki hits unicorn status as payments platform raises $100 million

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Kushki, a payments platform based in Ecuador, has raised $100 million in Series B financing at a unicorn valuation.  The round includes investors such as Kaszek Ventures, SoftBank Latin America Fund and Dila Capital among others, according to a statement on Wednesday.  “Reaching this milestone in times of historical economic uncertainty speaks to the quality and resilience of our entire team and the enormous Latin American talent that exists in the region,” CEO and co-founder Aron Schwarzkopf said in the …