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Crypto Evening Briefing: Court Approves Sale of Certain FTX Investments, Tokens and Equity Shares; Interactive Brokers To Offer Crypto Trading in Hong Kong

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Court Approves Sale of Certain FTX Investments, Tokens and Equity Shares

FTX has received court approval to sell certain investment assets and subsidiaries. Collectively, via various subsidiaries, FTX and Alameda spent around $5.3 billion across 473 investments, according to a report from The Block Research. Investments ranged from huge checks — such as $100 million into Mysten Labs, the developer of the Sui blockchain — to many smaller investments, such as $1 million checks into startups Limit Break and Messari.

NASDAQ-Listed Interactive Brokers To Offer Crypto Trading in Hong Kong

Interactive Brokers, a global brokerage firm with headquarters in the United States, announced the launch of its crypto trading services for institutional clients in Hong Kong on Feb. 14. The crypto trading services were launched in association with OSL Digital Securities, a Securities and Futures Commission-licensed digital asset brokerage and trading platform for professional investors.

UK FCA To Take Action Against Unregistered, Illegal Cryptocurrency ATMs

The United Kingdom’s financial regulator, Financial Conduct Authority (FCA), is coming for unregistered cryptocurrency automated teller machines (ATMs).

Magic Eden Undergoing Restructuring Process, Lays Off 22 Employees

Following a spree of layoffs across the crypto industry in 2022 – a microcosm of the tech industry at large, which also saw plenty of reductions last year – Magic Eden becomes the latest company to cut its headcount.

US Judge Halts CFTC and SEC Lawsuits Against SBF Until After Criminal Trial

United States District Judge Kevin Castel has approved the Justice Department’s request to stay the civil lawsuits filed by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) against Sam Bankman-Fried (SBF), the founder and former CEO of bankrupt crypto exchange FTX.

Market Watch

As of press time, according to Cointime data:

BTC 's live price is $$21,870.44 USD, jumped by 0.85% in the last 24 hours;

ETH’s live price is $1,512.00 USD, jumped by 1.48% in the last 24 hours;

BNB’s live price is $294.66 USD, jumped by 0.74% in the last 24 hours;

BUSD’s live price is $0.9998 USD, jumped by 0.04% in the last 24 hours;

XRP's live price is $0.3701 USD, jumped by 1.06% in the last 24 hours.

Fundraising News

Credit Suisse Leads $65 Million Series B in Digital Asset Firm Taurus

Taurus SA, a Switzerland-based digital asset infrastructure company focused on servicing financial institutions in Europe, raised $65 million in a Series B funding round.

ScalingX Launches $20M for Web3 Accelerator and Hackathon

ScalingX, a top Web3 developer community and accelerator, is launching its accelerator with a committed investment of $20 million. The accelerator is designed to support and cultivate the Web3 ecosystem, with a focus on building scalable and secure infrastructure solutions such as zero-knowledge (zK) technology, decentralized finance (DeFi) and metaverse projects.

Crypto Exchange Coinmetro Buys Social Fundraising Platform Ignium

Crypto exchange Coinmetro announced Tuesday that it will acquire Ignium, a blockchain-based social fundraising platform, according to a Coinmetro press release. Coinmetro purchased 71% of Ignium’s shares as of Feb. 3 and plans to buy the remaining stake by the end of April, statement said. The acquistion’s value is €4 million ($4.3 million), Coinmetro disclosed.

Jewellery Firm Chupi Raises €3.75M and Plans To Invest in Blockchain for Tracking and Authentication of Diamonds

Irish designer Chupi Sweetman’s jewellery brand Chupi is to receive €3.75m investment from a mix of backers including Business Venture Partners (BVP), Abbey Finance and Permanent TSB (PTSB) to accelerate the brand’s global growth. The investment includes around €2.75m in new equity, with the remainder representing debt provided by PTSB’s business banking division. This marks the first funding round by the jewellery brand which was established in 2013.

Former Jump Trading Developers Raise $19 Million To Build Monad Blockchain

Monad Labs, a Layer 1 blockchain project co-founded by former Jump Trading developers, raised $19 million in funding led by Dragonfly Capital. Other investors included Placeholder Capital, Lemniscap and Shima Capital, as well as angel investors, including Naval Ravikant, Cobie and Hasu, according to a Tuesday announcement. Overall, more than 70 investors backed the project.

Orb Labs Announced a $4.5M Seed Round, Led by Bain Capital Crypto

Orb Labs announced a $4.5M seed round Tuesday, led by Bain Capital Crypto, with participation from Shima Capital, 6th Man Ventures, Aves Lair, Newman Capital, Modular Capital, and SevenX Ventures.

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