Ukraine Passes Virtual Asset Law, FBI Crypto Unit, Sequoia Doubles Tokens, Universal Music NFTs and many other crypto market highlights compiled in the last 24 hours.
Sequoia Capital, a Silicon Valley venture capital powerhouse, says it is providing $500 million to $600 million through its Money Fund to invest in “liquidity tokens and digital assets” and its new Sequoia electronics. “Our goal with this fund is to be more actively involved in protocols, to better support token-only projects, and to learn by doing it by studying the code ourselves,” the company said.
Infrastructure and payments firm Stronghold has launched a new $100 million investment fund, Stronghold Capital, which will focus on areas where founders and fund managers are “overlooked and underappreciated,” representative payments and fintech ecosystems as well as Web3 and Blockchain ecosystem.
Venture capital firms Digital Currency Group, Multicoin Capital, Reciprocal Ventures, gumi Cryptos Capital, NGC Ventures and HashKey have announced the launch of a $205 million ecosystem fund to support developers building on it, the indexing and query layer of Web3, The Chart (BRT).
Animoca Brands announced that it has completed the acquisition of indie game developer Grease Monkey Game. Grease Monkey Games is the developer of Torque Burnout and Torque Drift and has a major new motorsport title in development.
Cryptocurrency platform Bakkt has announced that its combined (non-GAAP) net revenue of $39.4 million in 2021 increased by $10.9 million, or 38%, year-on-year and is expected to grow from $60 million to Dollar will increase to $80 million in 2022 with an increase of about 50% or 100% compared to 2021. The platform is also expected to generate between $150 million and $170 million in cash over the course of 2022 will use for investment, but added that it has strong liquidity with over $390 million in cash available as of December 31, 2021. Quarterly net loss is also expected this year due to increasing corporate investment.
Bitpanda says they will expand their crypto offering to meet growing user demand, aiming to offer the widest range of cryptocurrencies in Europe from March 2022 as new assets are added weekly, they said. Additionally, the platform opens up to crypto creators worldwide, who can now request to have their crypto projects listed pending approval – a process that takes into account market capitalization, stability, and number of users, among other things.
The U.S. Department of Justice has confirmed that the FBI has a new virtual asset mining unit, a dedicated team of crypto experts dedicated to providing FBI-wide analysis, support and training, and innovating its crypto tools dedicated to stay ahead of the future threats. Additionally, the ministry announced the selection and appointment of Eun Young Choi, “a seasoned prosecutor,” as the first director of the National Cryptocurrency Enforcement Team (NCET). Established to ensure the department responds to the challenge posed by criminals misusing cryptocurrencies and digital assets, the NCET includes attorneys from across the department, including prosecutors with crypto roots, death, cybercrime, money laundering and forfeiture, they added added.
The Ukrainian Parliament has passed a law on virtual assets in line with the President’s proposal, the Ministry of Digital Transformation announced today. This means that Ukrainians will be able to declare their income with virtual assets, banks will open accounts for crypto companies and crypto exchanges will operate legally in Ukraine, they added.
The UAE is poised to issue federal licenses to Virtual Asset Service Providers (VASPs) by the end of the first quarter in a bid to attract some of the world’s largest crypto companies, Bloomberg reported, citing an unnamed government official. The Commodity and Securities Regulatory Authority is in the final stages of amending the law to allow for the establishment of a VASP, the official added.
Former US Presidential candidate Andrew Yang said he launched Lobby3, “a blockchain and community-based fundraising effort aimed at building a strong lobbying infrastructure that can bring Web3’s votes to Washington DC.” . “Once the initial lobbying infrastructure is built, a portion of the proceeds will be used to fund the Lobby3 DAO treasury, which is controlled by its members – the token holders,” Yang added.
Entertainment giant Universal Music Group (UMG) has announced that the NFT Curio platform will serve as the dedicated global agency for future officially licensed NFT projects from record labels, the UMG public operating company and recording artists worldwide.
Global cosmetics giant L’Oréal could be venturing into the virtual goods economy, according to recent trademark filings in the NFT and Metaverse categories. The listings identify their affiliates, and Kiehl’s listing includes rights to “non-downloadable virtual perfumes” along with “virtual body care and hair care products,” including the metaverse.”
DeFi lending and lending platform EQIFI has announced a partnership with Metaverse accelerator and venture builder TDeFi to provide banking and DeFi solutions for Metaverse projects in the accelerator program. EQIFI will continue to partner and expand its products to more Metaverse platforms in the near future, they added.
The Australian National Rugby League (NRL) has partnered with crypto exchange Swyftx for a three-year period, with options to continue through the end of the 2026 season. The Sydney Morning Herald reports that the deal is worth more than 25 million AUD (18 million euros) has US DOLLAR). Swyftx’s partnership with NRL will support NRL and NRLW games, Finals and State of Origin, and All Stars games.
Cryptocurrency platform Bitget has announced a partnership with Turkish football club Galatasaray for the remainder of the 2021-22 season. Terms of the agreement were not disclosed.
UEFA, the governing body of European football, announced non-fungible token issuer (NFT) Socios.com as its first official fan token partner in the partnership, which will be in place until 2024. A number of elite clubs in Europe, including Juventus, Paris Saint-Germain and FC Barcelona, becomes a regional sponsor of the Champions League, UEFA’s most prestigious competition, in the United States.
BitRiver, provider of location services for cryptocurrency mining, announced that it is now the first Russian company to be verified as a carbon neutral company. The company adds that its largest data center in Bratsk, in the Irkutsk region, runs entirely on alternative energy sources.
Cryptocurrency platform CEX.IO has appointed Joel Kosloski as Chief Information Security Officer and John Werneke as Chief Product Officer. Before joining CEX.IO, Kosloski was Chief Technology Officer at remittance specialist Sigue Corporation, while Werneke was Global Director of Digital Product Management for Hyatt Hotels Corporation.
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