Crypto Evening Briefing: Crypto Startups Raise Approx $52 Million in the Past Week

Cointime Official

Top Stories

Liechtenstein Considers Enabling Bitcoin Payments for Government Services

The government of Liechtenstein is exploring the use of Bitcoin and considering enabling its citizens to pay for government services with the cryptocurrency, according to Prime Minister Daniel Risch. Among the possible uses of Bitcoin is enabling citizens to make deposits in Bitcoin and immediately exchange them for the national currency of Liechtenstein, the Swiss franc.

Coinbase CEO Brian Armstrong Heads To UAE For Strategic Developments

Coinbase CEO Brian Armstrong and VP of International & Business Development Nana Murugesan are in the UAE for strategic developments in the region, seeking to establish the country as a hub for Coinbase. The company is working with Abu Dhabi Global Market regulators for licensing and availability for Coinbase International Exchange after launching the derivatives exchange in Bermuda last week. 

Pepecoin Drops Nearly 50% From Highs as Traders Likely Taking Profits for Ether

Pepecoin (PEPE) has seen a significant drop of nearly 45% after hitting a peak of $0.00000431 on Friday with a market capitalization of $1.8 billion. This drop is likely due to traders taking profits on their positions or using advanced trading strategies following the introduction of pepe-tracked futures.

BRC-20 Meme Coin Craze Overwhelms Bitcoin Network, Minting Fees Reach Record High

Meme coins are shifting to the BRC-20 standard, taking over the Bitcoin network as Ethereum faces congestion from new tokens. Daily minting fees on BRC-20 reached a record high of 247 BTC on May 7, and the total fee for these Bitcoin Ordinals was 641 BTC. BRC-20 tokens have a market cap of $541 million, with 14,079 tokens, many of which are meme coins.

Ripple CEO Reveals $200 Million Spent Defending SEC Case

Ripple CEO Brad Garlinghouse revealed that the company has spent $200 million defending itself against the lawsuit brought by the SEC. He expressed regret about the US falling behind in crypto regulation compared to the UAE and Europe.

Market Watch 

As of press time, according to Cointime data:

BTC 's live price is $27,948.55 USD, dropped by 3.48% in the last 24 hours;

ETH’s live price is $1,867.03 USD, dropped by 2.50% in the last 24 hours;

BNB’s live price is $317.55 USD, dropped by 2.15% in the last 24 hours;

XRP's live price is $0.4370 USD, dropped by 4.90% in the last 24 hours.

Fundraising News

Webb Protocol Raises $7 Million for Privacy-Focused Cross-Blockchain Asset Transfers

Webb Protocol, the creator of zero-knowledge infrastructure for private cross-blockchain asset transfers, has raised $7 million in a seed funding round led by Polychain Capital and Lemniscap. The funding will be used to expand the team and develop new privacy-focused tools. 

Hong Kong NFT Firm Artifact Labs Raises US$3.25 Mln in Seed Round

Artifact Labs, a Hong Kong-based non-fungible token (NFT) company, has raised $3.25 million in its seed financing round led by Blue Pool Capital and Animoca Ventures. The company, which is a spinoff of Hong Kong newspaper South China Morning Post, plans to use the funds to expand operations and increase its technical headcount. 

Crypto Startups Raise Approx $52 Million in the Past Week

Last week, crypto startups raised approximately $52 million, with Fedi raising $17 million and zkLink raising $10 million. Fedi is a developer of financial data technology that allows users to create federations for payments between friends and family using Bitcoin.

Siphon Lab Has Successfully Closed a $1.2M Seed Round Fundraising

Crypto DeFi startup Siphon Lab has recently closed a successful $1.2 million fundraising seed round ahead of its beta launch. The funding was led by Kima Ventures, with participation from Waveline Capital, BT Growth Capital, Uno Ventures, Quidnet Ventures, and Mava Ventures, among other notable angel investors in the web3 and web2 industry. The seed round funding will be used to accelerate Siphon’s development, expand its team and scale its operations to meet the increasing demand for its services.


All Comments

Recommended for you

  • Valkyrie Ethereum Futures ETF Receives U.S. SEC Approval

    The US SEC has approved Valkyrie to convert its existing Bitcoin futures ETF to a Bitcoin and Ethereum futures ETF. The new fund will be renamed "Valkyrie Bitcoin and Ethereum Strategy ETF" and will take effect on October 3, with the code still being BTF.

  • AlphaSense Raises $150M in Series E Funding Round Led by BOND and Alphabet's CapitalG

    AlphaSense, a B2B AI platform focused on business intelligence and search, has completed a successful Series E funding round, raising $150 million. The round was led by BOND and included investments from Alphabet's CapitalG, Goldman Sachs, and Viking Global. AlphaSense's valuation has grown from $1.7 billion to $2.5 billion since its Series D funding round in June 2023. The platform uses machine learning to provide deep insights into business and finance analytics, offering "insights-as-a-service." The latest investment will allow AlphaSense to continue leading the generative AI revolution in the B2B sector.

  • web3 startup IYK raises $16.8 million in seed funding, led by A16z Crypto

    Web3 startup IYK has raised $16.8 million in seed funding, with A16z Crypto leading the way and other investors including 1kx, Collabcurrency, Lattice Capital, and gmoney. According to its website, IYK is a participant in the a16z Crypto Startup School, which is an accelerator program from the venture capital giant that typically invests $500,000 in participating startups in exchange for 7% equity. IYK says that it has recruited over 100 creators from industries such as fashion, music, and art since its founding in 2021. To attract more brands and creators, it is launching a self-service platform to help create digital physical experiences.

  • Oracle project Supra completed over US$24 million in financing, with participation from Animoca Brands and Coinbase Ventures.

    On September 28th, Supra, a provider of oracle and VRF services, announced that it had completed a funding round of over $24 million. Investors in this round include Animoca Brands, BCW, Coinbase Ventures, FiveT Fintech (formerly Avaloq Ventures), Galaxy Interactive, Hashed, HashKey, Huobi Ventures, No Limit Holdings, Prosus Ventures,, Republic Crypto, Shima Capital, Signum Capital, SMO Capital, Sound Ventures, Sublime Ventures, UOB Venture Management (Dahua Bank), and Valor Equity Partners.

  • Hong Kong police arrested three people again in connection with the JPEX case, bringing the total number of arrests to 15

    Hong Kong police arrested three more people related to the JPEX case, including one director and one employee of the overseas exchange Lupin, and one popular analyst from a foreign currency exchange shop. The total number of arrests is now 15. The police have received a total of 2,392 reports, involving a total amount of nearly 1.5 billion yuan, and have frozen 77 million yuan in assets. 

  • The EU will collect data proving that cryptocurrency PoW mechanisms "seriously" harm the environment and plans to develop sustainability standards

    On September 28th, the European Commission released a tender contract worth 800,000 euros (approximately $842,000) aimed at mitigating the "significant harm" that cryptocurrency poses to the environment. The research, which will end on November 10th, will establish standards that will be incorporated into potential future EU policies to curb the impact of cryptocurrency on climate change and develop new energy efficiency labels for blockchain. The European Commission stated in the tender document that "there is evidence that crypto-assets can cause significant damage to the climate and the environment," which could undermine the EU's greenhouse gas reduction targets, indicating that new sustainable development standards may be adopted in the future. EU legislators are concerned about the energy-intensive PoW consensus mechanism that supports blockchain such as Bitcoin. The EU's research will be completed within a year and will study green issues related to the use of water, waste, natural resources, and energy by cryptocurrencies. (CoinDesk)

  • Brazil’s cryptocurrency trading volume in July was US$3.7 billion, with USDT trading accounting for 81.6%

    According to data from the Federal Tax Authority, cryptocurrency transactions in Brazil reached 18.8 billion Brazilian real (approximately 3.7 billion US dollars) in July, a decrease of 11.4% compared to the previous month. The three highest transaction volumes were stablecoins, with USDT accounting for 15.3 billion Brazilian real, or 81.6% of the total transaction volume, followed by USDC (838 million Brazilian real) and Brazilian real stablecoin BRZ (641 million Brazilian real). 

  • The National Blockchain Industry Industry-Education Integration Community was established in Xiongan New Area

    National Blockchain Industry Production-Education Integration Community Establishment Conference was held in Xiong'an New Area on September 27. The National Blockchain Industry Production-Education Integration Community is jointly formed by Xiong'an Guochuang Center Technology Co., Ltd., Southwest University of Finance and Economics, Hebei Software Vocational and Technical College, and other units under the guidance of the Vocational and Adult Education Department of the Ministry of Education, the Education and Examination Center of the Ministry of Industry and Information Technology, and the China Association of Small and Medium Enterprises, together with relevant industry associations, enterprises, undergraduate colleges, vocational colleges, scientific research institutes and other units. The establishment of the National Blockchain Industry Production-Education Integration Community aims to gather high-quality production-education resources and establish a new type of production-education integration organization to support the development of the blockchain industry, promote industrial development and talent cultivation, effectively promote the deep integration of industry and education, improve the quality of talent cultivation, better meet the development needs of the blockchain industry, and effectively promote economic and social development.

  • Slope, a Fintech Startup Backed by the Founder of Worldcoin, Completed $30 Million in Financing

    Slope, a financial technology startup supported by Worldcoin founder Sam Altman, announced the completion of a $30 million financing round, with participation from Y Combinator, monashees, and a group of angel investors in the financial technology field. It is reported that Sam Altman and Union Square Ventures jointly led Slope's previous $24 million Series A financing round. So far, the company's total financing amount has reached $187 million.

  • AIOPs Platform Senser Completes US$9.5 Million in Seed Round Financing, Led by Eclipse

    Senser, an AI operations management platform that can provide data analysis support for Web3 infrastructure, announced the completion of a $9.5 million seed round of financing, with Eclipse as the lead investor and Amdocs and other private investors participating.