Crypto Market Highlights January 19, 2022
Intel Bitcoin Mining Surprise, Crypto Mortgage, BNB Burn and many other crypto market highlights compiled over the last 24 hours.
Crypto Market Highlights: Investment News
- Investment firm Blossom Capital has raised $432 million to back early-stage tech startups in Europe, a third of which is earmarked for crypto investing, according to Bloomberg. They say that they not only want to invest in cryptocurrencies, but also in companies developing crypto infrastructure.
- Decentralized Finance Protocol (DeFi) Hubble Protocol has raised $10 million just ahead of the mainnet launch scheduled for Jan. 28. They added that they will use this support to expand the DeFi team and services through 2022.
- Social commerce platform SPACE Metaverse has garnered an unspecified strategic investment from Binance Labs, the incubator arm of major crypto exchange Binance. The project allows users to create their own virtual trading space for games, art, fashion, music, etc.
- Interactive esports platform Yesports says it has raised $2.25 million in an oversubscribed seed round led by investors including Polygon Studios, Alphabit, Kernel Ventures and Cosmos. The money raised will go towards the growth of their non-fungible token-based (NFT) esports marketplace and esports-focused metaverse.
- NFT gaming platform Balthazar raised $3 million in its first token sale with a valuation of $30 million and opened a private token sale that raised $8 million and ended the next month.
- The OlympusDAO Decentralized Reserve Coin has partnered with the DeFi Protocol Balancer to migrate its liquidity to the Balance Protocol. This migration offers Olympus Pro partners a way to leverage Balancer’s Liquidity Bootstrapping Pools (LBP) to conduct an initial fundraiser with OlympusDAO’s OHM-native token, which has fallen nearly 70% in a month.
Crypto Market Highlights: Mining News
On February 23, during the ISSCC conference, American multinational and technology giant Intel scheduled a presentation to outline a new “Bonanza Mine” microprocessor — a new chip dubbed the “Ultra Low Voltage Energy Saving Bitcoin Mining ASIC.” will. Whether Intel releases the Bonanza Mine chip as a product to the public or remains limited to a research project is unclear for the time being. However, given that the chip is on the “Marked Chip Releases: Digital/ML” list, and Koduri’s comment, it’s reasonable to expect these chips to be available for customer products in the near future, according to Tom’s Hardware.
Mining rig manufacturer Bitmain has released the Antminer S19 Pro + Hyd. launched, making it the company’s first product to combine liquid cooling technology with increased hashing power. The miner will have a hashrate of 198 TH/s, an energy efficiency (at 35°C) of 27.5 joules/terahash (J/TH) and consume 544 watts of power, they said.
Crypto Market Highlights Latest Products and Services
Fintech firm Milo has announced its new crypto mortgage, allowing crypto investors to use their digital assets to buy real estate in the United States. Milo customers can pledge their BTC to purchase assets and qualify for a 30-year crypto mortgage.
Crypto Market Highlights: Stock Market News
Binance announced that it has completed its 18th Binance Coin (BNB) token burn, in which a total of 1.68 million BNB ($781.6 million) has been taken out of circulation. Unlike the previous quarterly burns, the number of tokens burned in that quarter is automatically calculated using the auto-burn formula.
Crypto Market Highlights: Regulatory News
Indian Prime Minister Narendra Modi called for global cooperation to address cryptocurrency challenges. He compares cryptocurrencies to supply chain disruptions, inflation and climate change, and calls for collective, synchronized action.
The UK Government plans to bring cryptocurrency promotion under the Financial Promotion Act, which could put cryptocurrency promotion under the Authority’s rules. The Financial Conduct Authority (FCA) adheres to the same standards as other financial promotions such as stocks, Shares and organized insurance products. This is to minimize the risk of harm to consumers and ensure everyone has the right information to make informed investment decisions, the announcement said.
Crypto Market Highlights: Security News
Multichain’s cross-chain bridge says users who didn’t update their permits according to instructions were mined and lost 445 Ether Wrapped (WETH) ($1.4 million). The project has warned its users to remove permits for six tokens, otherwise their assets will be exposed to security vulnerabilities.
Crypto Market Highlights: Career News
Cryptocurrency payments processor Bitpay has appointed Jim Lester as the company’s first chief executive officer (COO), tasked with overseeing the company’s blockchain product innovation. Lester previously served as CEO and Board Director at ThingTech, where he was responsible for executing the company’s overall strategy.
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