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Crypto lender BlockFi files for bankruptcy in wake of FTX collapse
Cryptocurrency lending film BlockFi Lending LLC announced it filed for bankruptcy protection today in a bid to reorganize after suspending withdrawals in the wake of the recent collapse and bankruptcy of the crypto exchange FTX. This news comes after the lender paused withdrawals on its platform earlier in November citing a “lack of clarity” regarding ...
Crypto startup Kiln raises $17.7M for Ethereum staking-as-a-service expansion
Paris-based startup Kiln, a firm that helps users receive rewards for securing the Ethereum blockchain, today said that it has raised 17 million euros ($17.7 million) in new funding to expand its infrastructure and capabilities for new enterprise customers. Kiln provides a service known as “staking” for blockchains, which is where the holders of cryptocurrency ...
Binance commits $2B to crypto industry recovery fund as investors climb on board
Binance Ltd., the largest cryptocurrency exchange by volume, has allocated $2 billion in funds to what Chief Executive Changpeng “CZ” Zhao calls an “industry recovery fund” that will be used to buy distressed crypto assets and support crypto projects in crisis. Zhao first announced the recovery fund last week after the catastrophic collapse and bankruptcy ...
With $2M funding, inCitu aims to democratize city planning using augmented reality
New York City-based inCitu said Tuesday that it has raised $2 million in funding to bring future city developments to life via augmented reality so citizens can visualize what will happen to their neighborhoods and participate more fully in city planning. The company raised $1 million from Schmidt Futures, the philanthropic venture led by Eric ...
Sam Bankman-Fried speaks out about FTX’s dramatic collapse in internal employee letter
Sam Bankman-Fried, the disgraced founder and former chief executive of FTX Trading Ltd., apologized to the employees in an internal letter this week explaining why the cryptocurrency exchange failed under his command. According to the letter, Bankman-Fried said that he “froze up in the face of pressure and leaks” and said nothing during the beginning ...
Magic Eden NFT marketplace integrates Polygon to tap into blockchain gaming
Magic Eden, a cross-chain nonfungible token marketplace, today announced that it plans to expand to integrate the Polygon blockchain to allow its market to work more closely with gaming partners and creators that use the network. Polygon is a scaling solution for the Ethereum blockchain and is home to some of the largest Web3 gaming projects ...
Carv raises $4M to build Web3 decentralized identity for gaming
Los Angeles-based startup Carv said today it has raised $4 million in seed funding to build decentralized identity solutions for gaming applications that allow users to move freely between applications and games. The funding round was led by Singaporean-based venture capital firm Veterex and attracted participation from EVOS (ATTN Group), Snackclub, Infinity Ventures Crypto, YGG ...
Amazon plans to shut down Wickr’s free encrypted messaging app
Amazon Web Services Inc. announced Friday that it plans to shut down Wickr Me, its free encrypted messaging app, on Dec. 31, 2023, and the service will end registrations for new users by the end of 2022. Amazon bought Wickr in June 2021 for an undisclosed amount. It had raised more than $50 million from ...
Crypto markets fall as FTX hacker begins to move ill-gotten coins
Bitcoin and other cryptocurrency markets dropped today to one-week lows after the hacker who is believed to have drained the accounts of the recently bankrupted crypto exchange FTX Trading Ltd. began trading their ether currency for bitcoin. Over the weekend, the hacker began swapping ill-gotten Ethereum coins taken from the attack on FTX, which reportedly ...
FBI reports Hive ransomware has extorted $100M from 1,300+ businesses
A joint report from the Federal Bureau of Investigation and the Cybersecurity and Infrastructure Security Agency released Thursday revealed that the Hive ransomware gang extorted more than 1,300 businesses for over $100 million in payments since June 2021. In addition to ransoming businesses for money using ransomware, a type of malware that takes control of ...