Clicky

  • About
  • Coincu
  • Hot topics
  • Random
Friday, September 22, 2023
CoinCu News
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
  • Market
    • Analysis
  • Knowledge
    • Crypto 101
    • DeFi
  • Reviews
    • Exchange Reviews
    • DeFi Reviews
    • GameFi Reviews
    • Casino Reviews
    • Others Reviews
  • Recommended
    • Best Presale Cryptocurrencies
    • Best Bitcoin Casinos
    • Best Bitcoin Gambling Sites
    • Best Web3 Cryptocurrencies
  • Video
  • PR
    • Press Releases
    • Sponsored Articles
    • Advertise
  • Home
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
  • Market
    • Analysis
  • Knowledge
    • Crypto 101
    • DeFi
  • Reviews
    • Exchange Reviews
    • DeFi Reviews
    • GameFi Reviews
    • Casino Reviews
    • Others Reviews
  • Recommended
    • Best Presale Cryptocurrencies
    • Best Bitcoin Casinos
    • Best Bitcoin Gambling Sites
    • Best Web3 Cryptocurrencies
  • Video
  • PR
    • Press Releases
    • Sponsored Articles
    • Advertise
No Result
View All Result
CoinCu News
No Result
View All Result
Home News

MoonPay CEO Collected $150 Million During Bitcoin’s Golden Age

Harold by Harold
4 months ago
in News
Reading Time: 3 mins read
564
131
SHARES
4.4k
VIEWS
Share on Twitter

South Korea’s FIU Enhances Crypto Exchange Oversight From October 2024

Hong Kong’s JPEX Sees Significant Increase In Victims In HK$1.37 Billion Fraud

Key Points:

  • In 2021, MoonPay raised $555 million in an all-equity Series A financing.
  • The funds will be used to recruit more employees, increase geographical coverage, and introduce new payment options.
  • Yet, the CEO of the company apparently used part of his wealth to buy a $38 million house in Florida.
According to an unidentified source, MoonPay insiders, including co-founder and CEO Ivan Soto-Wright, got $150 million at the crypto payment startup’s Series A financing in late November 2021.
MoonPay CEO Collected $150 Million During Bitcoin's Golden Age

MoonPay, a cryptocurrency payments company, announced a major $555 million financing round in November 2021, with investors like Tiger Global Management and Coatue Management taking part during the Bitcoin craze, which reached a record high of over $69,000.

Insiders paid out $150 million in shares, according to The Information, with CEO Ivan Soto-Wright among the main sellers.

MoonPay is a crypto infrastructure company that provides a payment gateway for crypto companies. The platform supports digital asset transfers, allowing users to easily acquire cryptocurrencies such as Bitcoin. In 2021, the company received widespread notice for its non-fungible token (NFT) “concierge” service, which was lauded by celebrities like Jimmy Fallon and Paris Hilton.

MoonPay CEO Collected $150 Million During Bitcoin's Golden Age

The company was valued at $3.4 billion in the financing round, which was spearheaded by high-profile investors. Ivan Soto-Wright revealed in an interview with CoinDesk that the company intended to use the cash to expand its personnel and geographical reach, among other things. Nevertheless, rather than going to the firm, part of the funds was utilized to purchase shares from existing stockholders such as Soto-Wright.

According to The Information, $405 million of the total funds came from selling shares to investors, while the remaining $150 million came from insiders cashing out their shares in a secondary transaction. This suggests that a significant portion of the cash generated was not reinvested in the firm. Soto-Wright acquired a $38 million estate in Miami a few weeks after the Series A fundraising round, a property he’s accustomed to throwing expensive parties like the one hosted during last year’s Art Basel art festival.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News

Craig Wright's Copyright Battle Over Bitcoin File Format Raises Community's Curiosity

Legal Turmoil Surrounds Craig Wright: Hefty Fees And Contempt Charges In The Spotlight

Top Bitcoin Casinos Sites In 2023

Tags: bitcoincryptoIvan Soto-Wrightmoonpay
Previous Post

SFC Hong Kong Will Have Principles For Virtual Asset Exchange To Protect Users

Next Post

A Game Changer: How to Buy NFTs Without Owning Crypto?

Other Posts

South Korea's FIU Enhances Crypto Exchange Oversight From October 2024
News

South Korea’s FIU Enhances Crypto Exchange Oversight From October 2024

September 22, 2023
Coinbase Chief Legal Officer Paul Grewal Confirms Layer 2 Base Will Not Launch Tokens
News

Coinbase Chief Legal Officer Paul Grewal Confirms Layer 2 Base Will Not Launch Tokens

September 22, 2023
Hong Kong's JPEX Sees Significant Increase In Victims In HK$1.37 Billion Fraud
News

Hong Kong’s JPEX Sees Significant Increase In Victims In HK$1.37 Billion Fraud

September 22, 2023
Binance's Trading Volume Faces Challenge Due To Zero-Fee Promotion Halt
News

Binance’s Trading Volume Faces Challenge Due To Zero-Fee Promotion Halt

September 22, 2023
Justin Sun's Huobi Bold Transformation: HTX Emerges As A Game-Changer In Crypto
News

Justin Sun’s Huobi Bold Transformation: HTX Emerges As A Game-Changer In Crypto

September 22, 2023
Bankman-Fried's Release Was Denied: Legal Showdown Looms In High-Profile Trial
News

Bankman-Fried’s Release Was Denied: Legal Showdown Looms In High-Profile Trial

September 22, 2023
Next Post
A Game Changer: How to Buy NFTs Without Owning Crypto?

A Game Changer: How to Buy NFTs Without Owning Crypto?

  • Immutable-X-Suddenly-Increases-More-Than-35-percent-As-Whales-Show-Signs-Of-Accumulation

    Immutable X Suddenly Increases More Than 35% As Whales Show Signs Of Accumulation

    124 shares
    Share 50 Tweet 31
  • Coinbase Wallet Users: Beware of Scammers Exploiting Messaging Protocols for Phishing!

    142 shares
    Share 57 Tweet 36
  • Layer 1 Vara Network Will Be Supported By Coinbase

    112 shares
    Share 45 Tweet 28
  • Ethereum Network Gas Fee Now Soars To Over 310 Gwei

    93 shares
    Share 37 Tweet 23
  • Singapore Banks Crack Down On Money Laundering: $1.8 Billion Assets Seized

    93 shares
    Share 37 Tweet 23
Arbitrum Defies DeFi Turbulence: Whales Make Bold Moves Amidst Market Swings

Arbitrum Defies DeFi Turbulence: Whales Remain Optimistic Amidst Market Swings

September 22, 2023
South Korea's FIU Enhances Crypto Exchange Oversight From October 2024

South Korea’s FIU Enhances Crypto Exchange Oversight From October 2024

September 22, 2023
Coinbase Chief Legal Officer Paul Grewal Confirms Layer 2 Base Will Not Launch Tokens

Coinbase Chief Legal Officer Paul Grewal Confirms Layer 2 Base Will Not Launch Tokens

September 22, 2023
Hong Kong's JPEX Sees Significant Increase In Victims In HK$1.37 Billion Fraud

Hong Kong’s JPEX Sees Significant Increase In Victims In HK$1.37 Billion Fraud

September 22, 2023
Sui Foundation Awards $300,000 In Grants to Shape Web3 Education

Sui Foundation Awards $300,000 In Grants to Shape Web3 Education

September 22, 2023
Binance's Trading Volume Faces Challenge Due To Zero-Fee Promotion Halt

Binance’s Trading Volume Faces Challenge Due To Zero-Fee Promotion Halt

September 22, 2023
Justin Sun's Huobi Bold Transformation: HTX Emerges As A Game-Changer In Crypto

Justin Sun’s Huobi Bold Transformation: HTX Emerges As A Game-Changer In Crypto

September 22, 2023
Bankman-Fried's Release Was Denied: Legal Showdown Looms In High-Profile Trial

Bankman-Fried’s Release Was Denied: Legal Showdown Looms In High-Profile Trial

September 22, 2023
Binance And CEO Changpeng Zhao Officially File To Dismiss SEC Lawsuit

Binance And CEO Changpeng Zhao Officially File To Dismiss SEC Lawsuit

September 22, 2023
Linear Finance Reported The Attack Causes LUSD Volume Spike Up 7761%

Linear Finance Reported The Attack Causes LUSD Volume Spike Up 7761%

September 21, 2023
  • Live Prices
  • Binance
  • NFT
  • Solana
  • Metaverse
  • Polygon
  • Coinbase
  • Trending

© 2021 COINCU Financial Group Inc. Address: Road Town, Tortola, British Virgin Islands. Email us: [email protected].

No Result
View All Result
  • Coincu
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • Metaverse News
    • NFTs News
  • Market
    • Analysis
  • Knowledge
    • Crypto 101
    • DeFi
  • Reviews
    • Exchange Reviews
    • DeFi Reviews
    • GameFi Reviews
    • Casino Reviews
    • Others Reviews
  • Recommended
    • Best Presale Cryptocurrencies
    • Best Bitcoin Casinos
    • Best Bitcoin Gambling Sites
    • Best Web3 Cryptocurrencies
  • PR
    • Press Releases
    • Sponsored Articles
    • Advertise
  • Video

© 2021 COINCU Financial Group Inc. Address: Road Town, Tortola, British Virgin Islands. Email us: [email protected].

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In