Grayscale's ETF was previously knocked back by the SEC and it wants it and competing ETFs approved together so none have an advantage.
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Sequoia slashes its crypto fund by 66% after industry collapses: Report
Venture capital giant Sequoia Capital reportedly downsized its cryptocurrency fund from $585 million to $200 million, amid a liquidity crunch and a pivot away toward smaller crypto players.
According to a July 27 Wall Street Journal report, the tech-focused VC firm told investors in March it would reduce its Sequoia Crypto Fund — along with its ecosystem fund — to better reflect changed market conditions.
The cryptocurrency fund will now focus more on backing early-stage startups, given the recent crypto industry turmoil that took away many of the opportunities to back larger companies.
Another motive behind the cuts is to lower the capital threshold and thus the barrier to entry for investors to partake in Sequoia’s fund offerings, according to the sources.
“We made these changes to sharpen our focus on seed-stage opportunities and to provide liquidity to our limited partners,” reportedly said Sequoia in remarks to the Financial Times. The firm added it had returned more than $15 billion to investors over the past three years.
Bitcoin traders put eyes on $31K even as $2B in BTC options expire on Friday
BTC traders fix their eyes on $31,000 even as $2 billion in Bitcoin options are set to expire this Friday.
SEC chief accountant warns accountants about liabilities when auditing crypto firms
Paul Munter says making or allowing misleading statements can have serious consequences for accounting forms and individual accountants.
New Optimism wallet lets users receive crypto via Twitter login
Beam wallet uses Web3Auth and account abstraction to allow for seedless accounts, stablecoin gas payments and other user experience features.
Optimism transaction volumes surpass Abitrum’s for the first time in six months
Optimism lost the top spot to Arbitrum in January, after the end of its season one “quest," but has regained it after Worldcoin launched on July 25.
Optimism transaction volumes surpass Abitrum’s for the first time in six months
Optimism lost the top spot to Arbitrum in January, after the end of its season one “quest," but has regained it after Worldcoin launched on July 25.
'Pro crypto bill' passes out of US House Agriculture Committee
The Republican bill, dubbed FIT for the 21st Century, was drafted by two House committees and passed after strenuous preparations by members of both parties.
Stablecoins pose lower risk than bank deposits, says ex-Fed policy analyst
Stablecoins cannot be compared to bank deposits in terms of risk, nor can they be compared to money market funds, argues a new policy paper released by Paradigm.
Bitcoin price erases FOMC gains as US dollar surges on Q2 GDP print
Bitcoin casts off a U.S. GDP "nothingburger" but DXY charges to two-week highs in what is traditionally a BTC price headwind.
Rep. Patrick McHenry blames White House for lack of urgency on stablecoin bill negotiations
Republican leadership has blamed the Biden administration for not having a "sense of urgency" on stablecoins, while the Democratic response suggested "impatience" by lawmakers.
99-year-old Hungarian artist's computer generated NFTs sold for $1.2M
Vera Molnár pioneered the use of computer-generated art in the latter half of the 20th Century.
Block.one ICO damages ‘far beyond’ $22M, ENF founder says
The latest legal action against Block.one (B1) — the creator and original seller of Eos (EOS) — could potentially help plaintiffs get a higher compensation, according to EOS Network Foundation (ENF) founder and CEO Yves La Rose.
On July 25, La Rose officially announced that ENF is preparing a lawsuit against Block.one for its failure to follow through on its $1 billion following its $4.1 billion raise in 2018.
The CEO argued that Block.one’s broken promises to invest $1 billion caused major issues for the EOS community and promised to hold the firm accountable.
As many investors have already been part of another class action against Block.one, a number of those might need to opt out of their current lawsuits, La Rose said.
“They would do that if they aren’t satisfied with the current settlement offer and believe their interests are better suited by opting out, which is a common practice,” the ENF founder told Cointelegraph.
Block.one ICO damages ‘far beyond’ $22M, ENF founder says
Block.one owes much more to EOS investors than just $22 million after the $4-billion ICO, EOS Network Foundation CEO Yves La Rose believes.
Nexo joins sanctions association as regulatory scrutiny increases
Nexo looks to keep pace with regulatory requirements by implementing new certification requirements for its compliance team.
Journeys: Hervé Larren on Bitcoin, Apes and the psychology of ‘blue-chip’ NFTs
Hervé Larren’s crypto journey has taken him from luxury goods to Bitcoin mining and back full circle to the world of “blue-chip” NFTs.
Journeys: Hervé Larren on Bitcoin, Apes and the psychology of ‘blue-chip’ NFTs
During a period of hyperinflation in 2013, “my Venezuelan mother asked me to send money to Caracas, the country’s capital,” Hervé Larren recalls. However, bank transfers were not possible between the two countries.
Busy with work in New York, he told a friend that he planned to fly to Caracas — carrying cash for his mother — and return the same day. “Why don’t you just send Bitcoin?” his friend asked, which quickly led to a change of plans as Larren made his first Bitcoin transfer.
“My first crypto transaction, in 2013, was to wire Bitcoin from the U.S. to Venezuela. Due to the economic collapse, there was no functioning banking system between these two countries.”
Switching from a career with luxury goods company LVMH Moët Hennessy Louis Vuitton, Larren co-founded a large-scale crypto mining operation and worked with Grayscale to bring crypto assets to old-school investors. He later became a key adviser to ApeCoin and the first person to bid a million dollars for a nonfungible token.
From old to new
“We were reporting to Nicolas Sarkozy, and he was coming to our meetings,” Larren recalls of his time as the head of a high school student council in Neuilly-sur-Seine, the wealthiest old-money suburb of Paris, where he grew up.
Journeys: Hervé Larren on Bitcoin, Apes and the psychology of ‘blue-chip’ NFTs
During a period of hyperinflation in 2013, “my Venezuelan mother asked me to send money to Caracas, the country’s capital,” Hervé Larren recalls. However, bank transfers were not possible between the two countries.
Busy with work in New York, he told a friend that he planned to fly to Caracas — carrying cash for his mother — and return the same day. “Why don’t you just send Bitcoin?” his friend asked, which quickly led to a change of plans as Larren made his first Bitcoin transfer.
“My first crypto transaction, in 2013, was to wire Bitcoin from the U.S. to Venezuela. Due to the economic collapse, there was no functioning banking system between these two countries.”
Switching from a career with luxury goods company LVMH Moët Hennessy Louis Vuitton, Larren co-founded a large-scale crypto mining operation and worked with Grayscale to bring crypto assets to old-school investors. He later became a key adviser to ApeCoin and the first person to bid a million dollars for a nonfungible token.
From old to new
“We were reporting to Nicolas Sarkozy, and he was coming to our meetings,” Larren recalls of his time as the head of a high school student council in Neuilly-sur-Seine, the wealthiest old-money suburb of Paris, where he grew up.
Journeys: Hervé Larren on Bitcoin, Apes and the psychology of ‘blue-chip’ NFTs
Hervé Larren’s crypto journey has taken him from luxury goods to Bitcoin mining and back full circle to the world of “blue-chip” NFTs.
Journeys: Hervé Larren on Bitcoin, Apes and the psychology of ‘blue-chip’ NFTs
Hervé Larren’s crypto journey has taken him from luxury goods to Bitcoin mining and back full circle to the world of “blue-chip” NFTs.