Bitcoin News Thebittimes.Com

Ava Protocol, a pioneering Web3 automation platform, has successfully raised $10 million in Seed+ funding , according to the latest information shared with Finbold on June 11.  With an initial $5.5 million round followed by an additional $4.5 million in Seed+ funding , the capital infusion will fuel the development of Ava Protocol’s intent-centric, event-driven Eigenlayer AVS set to revolutionize private autonomous transactions for Ethereum (ETH) and other blockchains. The growing number of Ava Protocol investors The recent Seed+ round saw notable contributions from leading investors such as Electric Capital, Taisu Ventures, Bloccelerate VC, BingX Exchange, and Shima Capital, who joined the ranks of earlier backers, including Polygon co-founder Sandeep Nailwal, Greylock, Foundation Capital, and GSR. Picks for you $2 trillion investm...

The meme coin mania is back in the cryptocurrency market, and cryptocurrencies like PEPE show signals of being overvalued. This could foreshadow a short-selling opportunity, as suggested by increased open interest (OI) and high funding rates. Previously, the meme coin boom marked a local top, followed by a market crash that rewarded these crypto short-sellers. Should a similar pattern play out, this asset class is at the peril of suffering another hit despite positive social activity from influencers. As of this writing, PEPE has $644.85 million in open interest, ranking fifth on CoinGlass . This value represents 10% of the meme coin’s $5.98 billion market cap, trading at $0.0000142. Despite a drop of 20.34% in the $1.55 billion 24-hour volume, the market’s open interest has fallen by 6.37% on the meme coin. Picks for you These two crypto ...

Subsquid, a leading Web3 data access layer, has secured $17.5 million in funding and forged a partnership with Google ahead of its highly anticipated token launch, as per the information shared with Finbold on May 16. The financial boost will support the development of Subsquid’s innovative data indexing technology, which aims to revolutionize blockchain data accessibility. Subsquid’s integration with Google BigQuery A major highlight of this development is Subsquid’s integration with Google BigQuery.  Picks for you We asked ChatGPT-4o what will be SHIB price at the end of 2024; Here’s what it said 1 hour ago China dumps largest amount of US Treasury and Agency Debt in history 2 hours ago Market expert sets Bitcoin price for August 2024 3 hours ago Finance legend Ray Dalio thinks there’s a 40% chance of a civil war in the U.S. 3 hours ago By incorporating its software development kit with Google’s powerful data analytics platform, Su...

PayPal enables use of PYUSD in cross-border transfers for Xoom users Xoom users in the US can convert PYUSD into USD and send money to 160 countries. Xoom, the international money transfer platform of payments processing giant PayPal, has announced that it now supports the use of PayPal USD (PYUSD) as a funding option for users in the United States. In an announcement today, the cross-border money transfer platform said eligible US users can now convert PYUSD into US dollars when looking to send money to friends and family. PayPal expands PYUSD adoption PayPal USD is a USD dollar-denominated Stablecoin that PayPal launched in August 2023 and its use on Xoom will now see US users able to send money across borders to 160 countries. There’s no crypto sale fee when converting PYUSD to USD and no Xoom transaction fees, the platform announced. “ When we decided to bring PayPal USD to market, we had two objectives we wanted to achieve: create som...

Moonveil Entertainment, a web3 gaming studio, has unveiled a $5.4 million seed investment round, co-headed by Gumi Cryptos Capital and Arcane Group. The investment was spearheaded by Gumi Cryptos Capital and Arcane Group, with additional contributions from Longhash, IOSG, and Infinity Ventures Crypto. We are thrilled to announce the closing of our $5.4M seed round of fundraising, led by @GumiCryptos and @ArcaneGrp attracting substantial support from other renowned investors such as @LongHashVC @IOSGVC @ivcryptofund, etc. More detailshttps://t.co/0ZJENQr1ya — Moonveil Entertainment (@Moonveil_Studio) October 27, 2023 Established in the final quarter of 2022, Moonveil has been operating under the radar until its recent announcement. The studio’s leadership comprises industry experts who have previously worked with renowned companies such as Riot Games and Tencent. You might also like: Web3 games raised $600m in Q3, 50% less than in 2022 Moonveil is presently f...

A recent report by Bernstein pointed out that the crypto industry is expected to change from a “cottage industry” to a full-fledged “formal, regulated asset management industry” over the next five years. In this process, the managed assets are expected to rise from $50 billion to $500–$650 billion. In fact, in terms of revenue, the crypto fund management business could be worth up to $50 billion. According to analysts led by Gautam Chhugani, the potential launch of spot-based BTC ETFs in the U.S. will likely trigger capital inflows into the market. The report pointed out that the figure weighed around 4% of the present size of the crypto market. Also Read: Japan: Binance to Launch Dollar, Yen, Euro Stablecoins in 2024 ‘Hockey Stick’ Adoption to Ensue The analysts at Bernstein expect demand to be driven by “investment advisors, wealth and private banking integrated products, and easier access to ETFs in direct broker accounts.” A...

PolkaWorld has announced its decision to cease operations after Polkadot’s treasury rejected its funding proposal.  PolkaWorld, a community in the Polkadot eco system , raised concerns over treasury management under Polkadot’s new open governance platform, OpenGov, claiming that it negatively affects long-term eco system contributors. PolkaWorld cited numerous instances where the treasury denied organizations and subsequently left the Polkadot ecosystem. The previous governance system — where a council elected by Polkadot DOT holders evaluated proposals — was more effective and should be incorporated into the current OpenGov model, it argued. 🫥 It's super sad to say that PolkaWorld's proposal was rejected, and we've been halted operations for half a month now. This is the first time we've had to pause in the four years and three months since we started in 2019. All of these changes happened after @Polkadot initiated… https://t.co/KxqhCRKTXC — P...

The funding round was led by Foundation Capital, with follow-on investment from CMT digital. London-based digital asset protection firm, Coincover, has secured $30 million in a Funding round led by Foundation Capital, with a follow-on investment from CMT digital .  According to Coincover’s announcement, the funds will be used to scale its operations, drive recruitment, develop new products, and form partnerships to help strengthen the security of the cryptocurrency ecosystem, thereby, providing even more comprehensive protection to businesses and individuals holding digital assets.  Coincover was founded in 2018 and launched in 2019 with the aim of providing trust to the digital asset industry. The company already works with over 300 businesses including exchanges, wallets, hedge funds, family offices, and banks, and directly with a number of digital asset custodians. Coincover is determined to tackle the Security concerns plaguing the digital asset industry, by offering busine...

DOGAMÍ's team says it hopes to develop the first Web3 mobile game for mainstream audiences. DOGAMÍ, an augmented reality mobile game involving nonfungible token (NFT) pet companions, has completed a $14 million seed funding round, according to a Dec. 12 press release provided to Cointelegraph. The Web3 mobile gaming company raised $7 million led by VC firm XAnge after initially securing $6 million from industry leaders in January 2022.  DOGAMÍ, with community members in over 80+ countries, indicated that it has already sold 12,000 NFTs of dog avatars and 12,000 NFTs of canine accessories through a collaboration with omni-channel clothing retailer GAP.  The company has also launched its first mobile application, "DOGA House", which allows users to discover and interact with their “NFT puppies” in the “DOGAMÍ universe” while earning DOGA cryptocurrency. Related: Leveraging the Blockchain to deliver more rewarding experiences for casual gamers Despite the continuing bear m...