MoonPay Raises $400 Million in Second Round Funding, Valuation Now at $3.4 billion

MoonPay Raises $400 Million in Second Round Funding, Valuation Now at $3.4 billion

US-based crypto payment startup, MoonPay has completed a $400 million capital injection raise bringing the total valuation of the company to $3.4 billion, a blog post from The Information reads. The funding aims to enhance the features of the platform and boost the global adoption of cryptocurrencies.

This funding round was co-led by venture capital firm Tiger Global Management and Coatue Management aiming to grow the user acquisition rates.

MoonPay launched in 2019 with a simple aim to increase cryptocurrency adoption across the globe. With a team of just two young entrepreneurs — co-founders Ivan Soto-Wright and Victor Faramond — the company set out to create a simple and secure software solution that would enable people from all over the world to participate in the “biggest digital revolution since the internet” the company’s blog reads.

The platform allows users to use their credit and debit cards to buy crypto assets or other digital assets on marketplaces such as OpenSea, Bitcoin.com, Abra, ZenGo, Spot, and Trust Wallet.

Last month, MoonPay partnered with the crypto wallet provider Blocto to provide a fiat on-ramp to the Flow blockchain and easier access to NFT marketplaces. Earlier in the month, the company announced a strategic partnership with Bitmart exchange allowing users to better optimize the trading experience.

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Author: Lujan Odera

ConsenSys Is Planning to Raise Funds at a Valuation of $3 Billion

ConsenSys Is Planning to Raise Funds at a Valuation of $3 Billion

ConsenSys is in talks to raise $250 million at a valuation of $3 billion, according to the latest reports.

Arca and Golden Tree Asset Management are reportedly taking part in this round.

In April this year, the company had raised $65 million in a “formation round” from traditional finance giants including JPMorgan, Mastercard, UBS, and leading companies from the decentralized finance (DeFi) sector.

According to PitchBook data, venture capitalists have invested $20.7 billion in cryptocurrency start-ups this year, an increase of more than 160% from the 2018 record.

The US-based blockchain software technology company develops and invests in Ethereum-based projects.

The company was founded by Ethereum co-founder Joe Lubin seven years ago, who made staff cuts for over 10% at least twice and then restructured it to split off its investment arm into a separate entity.

ConsenSys is also the owner of the most active wallet in the crypto industry, MetaMask, which launched its institutional arm in December. The app charges a 0.875% fee on each trade and has generated $81.7 million in revenue in the past year, according to TokenTerminal.

The company has projected annualized revenues from MetaMask to increase to $1 billion within the next year. MetaMask has more than 10 million monthly users as of August.

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Author: AnTy

New $263 Million Funding Round Sees BitPanda’s Valuation Rise to $4.1 Billion

New $263 Million Funding Round Sees BitPanda’s Valuation Rise to $4.1 Billion

BitPanda, one of the largest crypto exchanges in the world, has announced the completion of its Series C funding round.

The Vienna-based exchange confirmed the news earlier this week, with a CNBC report confirming that it had raised $263 million. The raise sees BitPanda’s valuation jump to a staggering $4.1 billion.

BitPanda’s Convenient Marriage to Valar Ventures

Per the CNBC report, the Series C round was led by Valar Ventures, a venture capital firm founded by Silicon Valley legend Peter Thiel. Other participants include REDO Ventures and British hedge fund billionaire Alan Howard. It is yet another show of support for the company, which has focused entirely on crypto and precious metals derivatives and trading since its inception in 2014.

The Series C funding round is the third time that Thiel’s Valar Ventures will be backing BitPanda. Valar has been there for the company every step of the way. Most recently with its Serie B round in March 2021. At the time, the company raised $170 million in a round that made it Austria’s first unicorn.

With the current funding round, BitPanda has grown over three times in valuation from its March raise. Speaking on the relationship with Valar, Eric Demuth, BitPanda’s chief executive, told CNBC:

“I don’t like to do fundraising. It’s very time-consuming.When you have partners you have a close connection with, and they have deep pockets, you don’t have to do the whole roadshow. Valar wanted to double down and we wanted to stay with them. It was quite an easy process.”

In total, BitPanda has now raised almost $500 million through its three financing rounds. The company has a lot to look forward to, especially as it is now trying a stock trading service that will run 24/7. Demuth told CNBC that the product will most likely be ready by the end of the year, putting BitPanda in the same terrain as companies like eToro and Robinhood that offer exposure to different assets across several classes.

Crypto is Swimming in Money

BitPanda’s successful capital raise is just the latest in what seems to be an endless stream of investments in crypto companies and affiliated services. Last week, top social media aggregation and forum platform Reddit announced the completion of its Series F round, where it raised about $700 million. The funding round puts Reddit at a $10 billion valuation.

Reddit has been popular among crypto traders and investors, with many forums dedicated to the space on the platform. But, its big jump came following the GameStop saga – as well as several other orchestrated crypto pumps that took place in the weeks following

TaxBit, a crypto tax startup, also raised $130 million last week in its Series B round, led by IVP and Insight Partners. The funding round brings TaxBit’s worth to $1.3 billion, with the company hoping to use the raised funds to scale its accounting and tax products and open new offices across the United Kingdom and United States.

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Author: Jimmy Aki

Major US Bitcoin Mining Company Going Public at $4.3B Valuation via SPAC Backed by BlackRock

Major US Bitcoin Mining Company Going Public at $4.3B Valuation via SPAC Backed by BlackRock

100% net carbon neutral miner, Core Scientific, which mined 928 BTC in Q2 and over 3,000 BTC so far in 2021, is also planning to expand to more states.

Core Scientific Holding is going public through a merger with a blank-check company that puts its valuation at $4.3 billion.

Rival public cryptocurrency miners Marathon Digital and Riot Blockchain have market capitalizations of $2.25 billion and $2.18 billion respectively.

A major US cryptocurrency mining company, Core Scientific, is signing a deal with Power & Digital Infrastructure Acquisition Corp, which is backed by BlackRock Inc. This deal will fetch $300 million in cash proceeds, but they didn’t disclose a private investment in public equity (PIPE) round.

Core plans to funnel this fresh capital back into the company to fund growth.

Special purpose acquisition companies (SPACs) have become a popular way to go public where pools of capital are raised through initial public offerings to merge with a private company and take it public.

Power & Digital raised $345 million in an upsized IPO in February.

The company mined 928 BTC in Q2 and a total of over 3,000 BTC so far in 2021 compared to Marathon mining, a total of 846 BTC and Riot 1,167.

In 2020, it generated $60 million in revenue and forecast revenues of $493 million and $1.1 billion for fiscal 2021 and 2022, respectively.

Core is currently adding capacity at its existing sites, which operates about 80,000 rigs and will be extended to the past 300,000 miners by the end of 2022. The company is also looking to build more facilities in potentially one to two more states.

“We’re all sold out. Every bit of infrastructure we can build — and we’re the biggest — we have demand for,” co-chairman and CEO Mike Levitt said in an interview.

“We’re basically sold out of capacity through 2022, and we’re building more.”

Core Scientific, which has operations in North Dakota, North Carolina, Georgia, and Kentucky, said it was 100% net carbon neutral, with 56% of its electricity coming from sustainable sources, including solar, wind, hydro, and nuclear. It buys carbon credits to offset the rest.

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Author: AnTy

The Simpsons Reports Bitcoin Price at Infinity; This Week’s Catalyst to ‘Blow People’s Minds’

Coinbase’s Wednesday listing a “big milestone” for the industry whose valuation dwarfs Google’s at the time of its IPO and the current market cap of Nasdaq and ICE, which runs the NYSE.

Bitcoin is nearing its all-time high as the market gets extremely excited about the upcoming listing of the largest US cryptocurrency exchange on Wednesday.

Going as high as $61,300 today, BTC is hovering around $60k. But the market believes we are nowhere near the top.

In fact, according to The Simpsons, Bitcoin is going to infinity.

The big catalyst for Bitcoin to send it higher, not to infinity, but all that closer to six figures is Coinbase going public on the Nasdaq under the ticker “COIN.”

Being the first major crypto company to do so has put everyone’s eyes on it. This listing is expected to provide the crypto market and other crypto exchanges an idea about investor appetite for the crypto industry and other start-ups in the sector.

“A crypto company moving to IPO is a big milestone,” said Nick Jones, CEO, and co-founder at crypto wallet Zumo.

“It’s moves like this that make consumers feel safer with crypto and ultimately boost confidence in the space.”

As we have seen recently, more and more mainstream companies are entering the sector. Besides Tesla and Square putting BTC in their Treasury, Goldman Sachs and Morgan Stanley are all set to offer their clients access to Bitcoin. Also, PayPal, Mastercard, and Visa have joined in.

An interesting facet about this listing is Coinbase’s $100 billion valuation.

Commenting on the eye-popping valuation, Amy Butte said more interesting is the fact that crypto is a “real innovation in financial services,” and Coinbase has added to this innovation in terms of settlement and new use cases.

“Institutions even in the last 3-4 months have really come in, and corporates have come in and said hey I need to have crypto as a part of my treasury planning.”

As for context on this valuation, Google’s IPO was worth only $23 billion, and unlike Coinbase’s no lockup period, the tech giant’s employees were locked out from selling for 6 months.

As for exchange comparison, Intercontinental Exchange, which runs the New York Stock Exchange (NYSE), has a market cap of $65 billion, and Nasdaq has only $25 billion.

“Coinbase is going to blow people’s minds,” said Matt Hougan, CIO at Bitwise Asset Management. “I think it’s going to force traditional finance to wrestle with the phenomenal growth that is taking place in crypto.”

But it makes sense given that Coinbase reported revenue of $1.8 billion, with an adjusted EBITDA of $1.1 billion. And, of course, 56 million verified users. These numbers have the market expecting a rush of investors and crypto ETFs to own it.

“It is possible our ETF will be the first to own it,” said Matt Kennedy, senior IPO market strategist at Renaissance Capital.

Meanwhile, Michael Saylor, CEO of MicroStrategy calling for an uptrend in BTC, following this listing.

“Simple arithmetic implies that Coinbase is gaining 1 million users & $10 billion in digital assets each week. This direct listing will be a wake-up call for institutional investors, financial advisers, & investment banks worldwide. Bitcoin Rises.”

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Author: AnTy

Chainalysis Raises $100 Million with a $2 Billion Valuation, No Plans to Go Public Yet

Chainalysis Raises $100 Million with a $2 Billion Valuation, No Plans to Go Public Yet

Blockchain research and analysis firm Chainalysis is the latest company in the crypto industry to raise funds. The firm has raised $100 million from investors led by Paradigm, co-founded by crypto exchange Coinbase co-founder Fred Ehsram.

TIME Ventures, the investment fund of billionaire Marc Benioff also participated in the funding round along with the previous backers, Addition, and Ribbit.

The new investment came just on the back of a $100 million investment in November, bringing Chainalysis’s valuation at more than $2 billion.

The New York-based company helps private firms and government agencies process and mine blockchain data for analysis recorded on blockchains to root out “cryptocurrency crime and money laundering.”

The company aims to use the raised funds for hiring across all parts of the organization and expand its product portfolio to provide new data solutions.

Chainalysis is building solutions for cryptocurrency businesses and financial services providers to optimize their market development strategies based on on-chain customer behaviors, help asset managers use on-chain data to discover crypto investing opportunities, and government agencies connect on-chain activity to other data sets.

As of yet, Chainalysis has no plans to go public, said Chief Executive Officer Michael Gronager, adding that they are choosing growth over profitability for the time being.

“We’re assuming we can do even better in 2022,” he said. “We can do more, but doing more takes money.”

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Author: AnTy

Blockchain.com Raises $300M At A $5.2B Valuation to ‘Aggressively’ Expand its Products

Blockchain.com Raises $300M At A $5.2B Valuation to ‘Aggressively’ Expand its Products

The company has over 31 million verified users, recording a 3x increase in active users and a total of 70.243 million unique wallets.

London-based cryptocurrency firm Blockchain.com has raised $300 million in its latest funding round with a valuation of $5.2 billion.

The Series C round was led by DST Global, Lightspeed Venture Partners, and VY Capital.

Just last month, the company that offers digital wallets for storage of cryptos along with trading and other services for larger investors said it raised about $120 million with investment from Alphabet Inc’s venture capital unit.

Launched in 2011, the total number of unique Blockchain.com wallets created has reached 70.243 million to date.

The company has more than 31 million verified users in over 200 countries, recording a 3x increase in active users over the past 12 months. Peter Smith, CEO & co-founder of Blockchain said,

“With one of the most significant balance sheets in the industry, we plan to aggressively expand the products we offer our customers, grow our global team, and pursue M&A opportunities to bring exciting new products and ideas into the company.”

Bitcoin soaring to a record high of nearly $62,000 this month is leading to ballooning valuations of companies in the crypto space.

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Author: AnTy

Bitcoin (BTC) Price Analysis (April 24)

Key Highlights       

  • Bitcoin’s price valuation has made an upward rise briefly past $7,600 distribution territory.
  • The bears are gradually getting weaker in BTC/USD trade operations.
  • BTC/USD Traders should be wary of a $7,600 mark.

Bitcoin (BTC) Price Analysis

• Major distribution territories: $8,000, $8,400, $8,800
• Major accumulation territories: $6,800, $6,400, $6,000

Bitcoin’s price valuation has made an upward rise briefly past $7,600 distribution territory during the yesterday’s trading sessions. The US dollar seems to be getting weaker as price now hovers around the price value earlier stated.

The bulls now appear in a higher buying spree, having broken northward through the last range upper point at $7,200. But, the market movements are presently converging heavily around the $7,600 value. As it is, the bears aren’t having it smoother to push against the crypto’s gradual appreciation moving mode.

Bitcoin Technical Indicators Reading

The Upper Bollinger Band has bit stretched northward. Short candlesticks are near its path. The 50-day SMA trading indicator and the Middle Bollinger Band are conjoint pointing to the north from underneath. Those indicate that the buyers are somewhat in control of the market. The Stochastic Oscillators have joined the hairs together around range 80. And, they now consolidate around it to signify an indecision trading condition of BTC/USD trade.

Conclusion

Though, there has now been a sign of seeing more ups in the market operations of BTC/USD. Also, the crypto-market may experience a line of corrections downward averaging a low mark at $7,200 before regaining the strength to further the journey to the north. A bearish pressure may occur at a $7,600 spot. And, it may not be ideal for a long position trading psyche.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.

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Author: Ben Jordan

Tezos (XTZ) Price Analysis (April 21)

Key Highlights

  • A relative number of falls has featured in the market’s valuation of XTZ/USD.
  • A downward breach at the $2 mark, will lead XTZ/USD price trading lower around the i$1.8 major accumulation territory afterward.
  • XTZ/USD market is likely to make rebound northwards a bit above the $2.4 mark.

Tezos (XTZ) Price Analysis

  • Major distribution territories: $2.6, $2.8, $3
  • Major accumulation territories: $1.8, $1.6, $1.4

There have a relative number of falls in the market’s valuation of Tezos as traded against the US dollar’s price worth. On April 18, the crypto surged northbound higher to a closely average $2.4 mark. Price has been trading towards a low value at $2 line.

A further downward breach of the $2 mark, will potentially lead the crypto market’s value to trade lower around the i$1.8 immediate major accumulation territory. Meanwhile, the bulls’ failure at that point will cause more sell-offs through some major accumulation territories afterward.

Tezos (XTZ) Technical Indicators Reading

The 50-day SMA indicator, still to some extent, points to the north direction a bit above the $2 mark. A line of bearish Japanese candlesticks has occurred to touch the SMA trading indicator. That signifies a correction in the crypto’s price earlier upswings. The Lower Bollinger Band lies closer below the SMA trend-line to give strength to it. That showcases the potential of seeing the bulls regaining power from that point The Stochastic Oscillators have moved downward slightly start a consolidation moves around range 20. That signals the necessary need to stay away from placing a position for a while.

Conclusion

As XTZ/USD market now trades around the 50-day SMA trend-line and, the Lower Bollinger Band, the crypto is more likely to make rebound northwards a bit above the $2.4 mark closely averaged earlier on. Any rejections around a low value at $2 line, may signal a good entry of the XTZ/USD bullish market trading zone.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.

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Author: Ben Jordan

Ripple (XRP) Price Analysis (February 12)

Key Highlights

  • There have been notable sequential increases in the valuation of the XRP/USD trade.
  • Most indications support that the XRP/USD bulls are still relatively in the control of this crypto market.
  • The XRP/USD market’s upswing is facing a critical line around $0.30 mark.

  • Major supply zones: $0.32, $0.34, $0.36
  • Major demand zones: $0.26, $0.24, $0.22

Ripple (XRP) Price Analysis

XRP price has been significantly witnessing sequential increases in valuation against the US dollar trade stance in the crypto-market. The rises occurred while the fiat money lost its value after a light push downwards the bigger SMA trend-line a bit over the current immediate demand zone at $0.26 mark.

From a careful looking point of the current XRP/USD market situation, the cryptocurrency has been mustering up energy at the weakening line of the fiat currency.

Ripple Technical Indicators Reading

The two trading SMA trend-lines were almost conjoined, but they have slightly separated and bent a little towards the north. They are both underneath the present market trading point.

The SMA indicators now still show that the bulls; are to a degree capacity have control of the XRP/USD market. The Stochastic Oscillators have also begun to consolidate around range 80. That indicates a kind of small ups and downs to be experienced in no time.

Conclusion

XRP price has to now move further upwards above its present long-standing critical zone of $0.30 mark to affirm a sound bullish market continuation movement of this crypto-trade. Notably, safe bullish entries of this crypto-trade, are most of the time, lie in the reversal of low downward price movements.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.

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Author: Ben Jordan