News about investments
TaxBit, a crypto-tax and accounting software company, has raised USD 130m through a Series B round, led by IVP and Insight partners. This increased its valuation to USD 1.3bn according to Bloomberg. Their goal is to make tax reporting easier and give individuals and institutions tools for tracking trades and portfolios.
Dune Analytics, a Norwegian provider of DIY crypto industry data dashboards from Norway, announced that they raised USD 8 million in a Series A led and managed by Union Square Ventures. Redpoint Ventures, Dragonfly Capital and Multicoin Capital were also involved. The three-year-old startup revealed that there are more than 40,000 analysis on Dune, including metrics such as DEX trading volumes and total DeFi users.
Valkyrie Investments, a crypto trading company, has submitted a proposal to the US Securities and Exchange Commission for a bitcoin futures exchange-traded funds (ETF). The fund would not invest directly in BTC, but it would buy a number bitcoin futures contracts to ensure that the total bitcoin value is as close as possible 100% of the fund’s net assets.
According to the SEC filing, Metromile, a digital insurer, used 10% of funds that were reserved for crypto purchases to buy bitcoin. This amounts to USD 1m. The company had previously said it would allocate USD 10m towards crypto in Q2 2021 to adopt cryptocurrency as an additional choice for insurance premiums and payment of claims.
Neuberger Berman, an investment management firm worth USD 400 billion, has filed for a commodity-focused funds to allow indirect exposure to crypto investments. According to a filing to the SEC. It stated that its Commodity Strategy Fund would allow investors to have indirect exposure to cryptocurrencies and digital assets through bitcoin and ethereum (ETH) futures, as well as bitcoin trusts and ETFs, through a subsidiary.
Bitwave is a US-based provider enterprise digital asset tax software and accounting software. Blockchain Capital announced a seed investment of USD 7.25m. Other investors include Nima Capital and Arca, XBTO Humla and returning angel investor Rowan Trollope. This additional funding will enable Bitwave to expand its software capabilities and grow its client base, they said.
DAO Maker confirmed that they “faced malicious use of one of our wallets with access to admin privileges” today and “the hacker was able to siphon approximately USD 7m, until our security team was able to trace, contain and stop the drain of funds.” The team estimates that 5,251 users were affected and each user lost USD 1,250. The team behind the decentralized autonomous organisation added that DAO Maker would devise solutions over the next five days to mitigate the damages.
Specialist officers from Greater Manchester Police’s Economic Crime Unit seized USD 22.25m. This was after intelligence led them to discover USB sticks containing USD USD 9.5m worth ETH. They also announced that USD 12.7m in unspecified forms were discovered “a few days later.” Victims from the United Kingdom, United States, Europe and China had made deposits, including their life savings, in what they believed was an online trading and savings service using Binance Smartchain. After a substantial amount of money was deposited, the scammers shut down the website and transferred the funds to their accounts,” police said.
News from the Exchanges
DBS Vickers, the brokerage arm of DBS Bank is working towards obtaining a DPT (digital payment token) services license from the Monetary Authority of Singapore. This is per Regulation Asia. DBS Vickers will, once licensed, be able, as a member DBS Digital Exchange, to support asset managers and companies in trading DPTs via DDEx.
The Swiss bank SEBA Bank announced it will expand its Decentralized Finance (DeFi), offering support for AAVE and chainlink. These coins will be available to institutional investors who use the platform for trading, investment, custody and storage.
The Web3 Foundation, a DeFi incubator, has announced that they have signed on 300 projects. The majority of the projects include runtime modules and development software, while the rest includes wallets, user interface development, tooling and cryptography.
Mango Markets, the decentralized exchange based on Solana (SOL), announced that they raised USD 70m through a fair token launch of their governance token MNGO. It will allow its holders to participate in the decentralized autonomous organisation (DAO), and have the power to suggest upgrades to the protocol.
Powerbridge, a blockchain applications company, has announced plans to invest in ETH and BTC mining and have planned operations worldwide. They have assembled a group of crypto experts and stated that their mining operations will be based on renewable energy.
Mawson Infrastructure Group Inc. is a digital infrastructure provider that offers diversified operations in Bitcoin mining and digital asset administration. It announced it had purchased additional 17,352 Canaan’s ASIC Bitcoin miners. This adds over 1.5EH to Mawson’s current operations. The deal’s value was not disclosed.
After the US and Canada, Crypto.com announced the launch in Australia of its free Crypto.com tax service. They said that Crypto.com Tax allows users to generate tax reports including records of capital gains or losses and other crypto-related transactions taxable and not taxable.
The Kin Foundation has released their new strategy. It stated that they had been working for the past few months on restructuring a Kin Foundation with the right priorities and resources to support our ecosystem’s growth. They said that they “will continue making it easy to build with Kin via increased simplicity of our SDK’s,” and they are “starting to increase the level of self-service capabilities once a developer hits our website.” They announced “the Kin Rewards Engine”, which should reward developers.