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The Avalanche Foundation is in advanced talks to launch two crypto treasury companies in the US as part of a $1 billion fundraising push. That’s according to a Financial Times report that said one deal, led by Hivemind Capital with SkyBridge’s Anthony Scaramucci as an adviser, aims to raise up to $500 million through a Nasdaq-listed company. Another $500 million raise is being planned via a special purpose acquisition vehicle backed by Dragonfly Capital, the report said, citing two sources familiar with the matter. The story said the deals are expected to close in the coming weeks.  Both of the companies will then purchase millions of AVAX, which is the native token of the Avalanche blockchain, at a discounted price, the report said.  Analysts Warn Crypto Treasury Companies Are At Risk The AVAX treasury plan comes as analysts warn that digital asset treasury companies (DATs) are facing risks from falling crypto and share prices that are compressing premiums a...

Binance’s venture arm said in a recent X post it did not participate in SkyArk’s latest $15 million funding round , despite the project stating the opposite. In an X post on Jan. 29, the venture arm of Binance said did not take part in SkyArk’s latest financing round in 2024, raising concerns about the circumstances surrounding the apparently false announcement. The statement clarifies that Binance Labs had solely invested in SkyArk in 2021 through its Incubation Season 3 program. SkyArk Chronicles is a project incubated and invested in by Binance Labs in 2021 through Incubation Season 3; please note that Binance Labs did not participate in the project's latest financing round this year. Thank you all for your attention. SkyArk Chronicles 是 Binance… pic.twitter.com/wqu2PBxKGE — Binance Labs Fund (@BinanceLabs) January 29, 2024 You might also like: Epic Games Store welcomes blockchain games despite ‘adults only’ ratings Binance Labs’ s...

Jelly Labs AG and Fintonomy LTD have been working on a way to link real-world price feeds – particularly pertaining to traditional assets like securities and commodities – with decentralized finance applications in an effort to bring about the next phase for the DeFi industry – DeFi 3.0 as it is commonly referred to. The Jellyverse, a comprehensive ecosystem and a key element of the DeFi 3.0 project, has recently secured $2 million in seed funding from private investors, according to the latest information shared with Finbold on December 4. The platform, built on top of DeFiMetaChain (DMC) – an Ethereum Virtual Machine (EVM)-compatible Layer-2 – functions as a parasitic chain that can seamlessly connect with numerous blockchains and gather data. In addition to gathering the data that is crucial for developing cross-chain protocols, it boasts several major advantages compared to the likes of Ethereum (ETH), such as lower gas fees. Jellyverse merges th...

Crypto services provider Matrixport insists Bitcoin is still on track to reach $45,000 by the end of the year. Bitcoin (BTC) will keep growing to $45,000 this year as futures funding rates signal bullishness among traders. As crypto services provider Matrixport noted in an X post on Oct. 24, the Bitcoin futures funding rates stay “sky-high,” signaling a “FOMO-driven market.” Bitcoin Update: FOMO Returns! The #Bitcoin futures funding rate is sky-high, signaling a FOMO-driven market. Bitcoin dominance at 52.1%, with volumes soaring at $29bn traded in 24 hours. Our 2023 target of $45,000 is on track, thanks to our proven trading models.… pic.twitter.com/tiTqRMQl2b — Matrixport (@realMatrixport) October 24, 2023 Data from Coinglass indicates that BTC futures funding rates increased significantly after it surpassed the $33,000 threshold. As of press time, out of nine crypto exchanges, only one signal s a negative funding rate, suggesting that most trad...

Avalanche-based decentralized social media protocol Stars Arena received funding to cover up a loss from an earlier hack that caused the project to lose nearly $3 million.  Stars Arena announced the news in a social media update. While the platform does not mention the source of the funding , the announcement says that the smart contract will be reopened with all funds intact after a full audit.  A white hat development team will review the incident, Stars Arena confirmed. Important news: we have secured the resources to close the gap caused by the exploit. Additionally, a special white hat development team is coming in to rapidly review the security of the platform. We will re-open the contract with all the funds in full after a full security… — Stars Arena (@starsarenacom) October 7, 2023 The decentralized social media protocol first announced the incident in the early hours of Saturday, Oct. 7, warning users not to deposit funds. The Stars Arena team later apologized f...

Members of Crypto Twitter are speculating whether Bankman-Fried and FTX will source the reported $530 million invested in Anthropic to pay off FTX creditors. Google Cloud has reportedly invested $300 million into artificial intelligence (AI) startup firm Anthropic, which also happened to receive over $500 million in funds from former FTX CEO Sam Bankman-Fried about six months before FTX catastrophically collapsed. While the $300 million figure was reported by Financial Times on Feb. 4, Anthropic confirmed the investment partnership with Google Cloud on the same day despite not disclosing any figures: We're excited to use Google Cloud to train our AI systems, including Claude! https://t.co/IaqQ5lpJrP https://t.co/vOn5Cj4sPt — Anthropic (@AnthropicAI) February 3, 2023 In the same announcement, Anthropic also confirmed that they previously raised capital from Bankman-Fried and former Alameda Research CEO Caroline Ellison, among others, in its Series B fundraising round: The Se...