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Posts Tagged ‘Million’

Bitmain IPO Document Reportedly Reveals $500 Million Q3 Losses

Bitcoin (BTC) mining giant Bitmain could have made losses of around $500 million in Q3 last year, industry magazine CoinDesk reported on Feb. 19, citing a company document. Bitmain, which is currently attempting to launch an initial public offering (IPO) under the auspices of the Hong Kong Stock Exchange (HKEx), submitted a report into its…

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Police Arrest Suspects in Alleged $14 Million Crypto Scam

Law enforcement in Mumbai, India have exposed a group allegedly involved in a cryptocurrency scam that amassed an estimated 1 billion rupees (nearly $17 million), local media outlet The Times of India reports on Feb. 17. The case reportedly led to the freezing of several accounts in the country and to the arrest of four…

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Fairfax County Pension Funds Invested $21 Million in Blockchain Technology

Fairfax county of the United States state of Virginia, has invested $21 million in Morgan Creek Blockchain Opportunities Fund, according to an official note published on Feb. 13. Jeff Weiler, Executive Director at Fairfax County Retirement Systems, clarified the terms of recent investments in Morgan Creek Digital that reportedly amounted to $40 million. The statement’s…

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GMO Internet’s Crypto Business Reports $12 Million Loss in 2018

Japanese IT giant GMO Internet has just reported an operating loss of 1.36 billion yen, or about $11.75 million, for its cryptocurrency business last year. The firm published its financial results for the fiscal year 2018 on Tuesday, saying its overall crypto segment, including exchange and mining businesses, made $74.51 million in net sales for 2018.…

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Blockchain Sleuthing Startup Chainalysis Raises $30 Million

Chainalysis, the cryptocurrency transaction analysis startup, has raised $30 million in Series B funding. The firm will use some of the funding to open a new office in London and a research-and-development lab in a bid to expand its presence in the U.K., where it has worked closely with the likes of Barclays, the High…

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Barclays, Ripple Back $1.7 Million Round for Remittance Firm Using XRP

Ripple, Barclays  and other investors have backed a $1.7 million round for SendFriend, a new remittance startup that will use the XRP cryptocurrency to move funds internationally. Announcing the news on Monday, the New York-based firm said the Mastercard Foundation, MIT Media Lab, Techstars, Mahindra Finance, 2020 Ventures and 8 Decimal Capital also participated in the round.…

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Two Public Pensions Anchor Morgan Creek’s New $40 Million Venture Fund

Two public pension funds are dipping their toes into the world of crypto venture capital. “As far as we know, nobody has raised money from a public pension,” Anthony Pompliano, partner at Morgan Creek Capital, told CoinDesk in an interview. Morgan Creek, an asset manager focused on institutional clients and family offices, announced Tuesday a…

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NYSE Parent ICE Anticipates Over $20 Million Spend on Bakkt This Year

Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, estimates it will spend more than $20 million this year in building Bakkt, its bitcoin futures trading and custody platform. In an earnings call for Q4, 2018, on Feb. 7, Scott Hill, ICE’s chief financial officer, said the firm’s investment in Bakkt will…

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Ethereum Foundation Weighs $15 Million Bid to Build ‘Randomness’ Tech

At the cutting edge of blockchain research is a potential $15 million dollar venture by the Ethereum Foundation centered around a technology called Verifiable Delay Functions (VDFs). Acting as a source of computer-generated randomness that is unpredictable and unbias-able, VDFs are envisioned for use in a highly-anticipated “proof-of-stake”(PoS) system called Serenity which the ethereum network will…

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