"Mergers, acquisitions, and funding rounds" Jan 22, 2023 - Transcripts

January 22, 2023

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treat, cure, or prevent any disease. It's 8 a.m. Eastern, January the 22nd, and this is your daily crypto report. Bitcoin is up half a percent at $22,890. Ethereum is up half a percent at $1,634, and Binance Coin is up slightly at $303. In the light of digital currency groups trouble with Genesis, the firm is considering selling off assets including CoinDesk, the popular crypto news site already has a suitor in the Binance-backed Chinese news outlet Marsbit with Wang Fing, the founder, saying, on Twitter, I believe in the future of the crypto industry our firm is willing to organize many well-known funds to cooperate to buy CoinDesk including its crypto media and all its consensus conference businesses. He's opened that up to interested investment funds or companies for partnerships. Cardano founder Charles Hoskinson also expressed interest in CoinDesk, saying in a YouTube video that the asking price was around $200 million. Well, this week, Phantom released a decentralized funding system called the Ecosystem Vault that's designed to fund new projects. The vault will get 10% of the transaction fees paid on the Phantom networks. Projects interested in funding will have to make a governance proposal and get approval via an on-chain vote. This new system provides an opportunity for projects to secure funding in their efforts to build dApps on Phantom.

The vault currently contains around $20,000. Well, the NFT startup, Candy Digital, raised $38.5 million at the start of 2023 according to a recently released regulatory filing. The startup previously raised $100 million at a $1.5 billion valuation. The firm had been seeking to raise a total of 68 million. This A1 funding round was led by Galaxy Digital and Consensus. The firm dates to 2021 and develops and designs digital collectibles. Well, ZK tech developer, NIL Foundation, has raised $22 million at a $220 million valuation. Polychain Capital led the round. NIL is the developer of the proof market protocol which allows layer one and two blockchains to generate zero knowledge proofs on demand. Well, Escape Velocity has raised for their first crypto fund with backing from big firms like Castle Island and A16Z. Escape Velocity started raising in June of last year and have pulled in $25 million already. The firm's thesis is thinking about the transition to a more distributed space for digital commodities.

And finally, a pair of smaller fundings, also a ZK startup, Hyper Oracle, has raised $3 million in pre-seed funding co-led by Sequoia China and Dow 5. The multi-chain wallet, Cypher, pulled in $4.3 million in funding from a round led by Y Combinator. Well, that's all for us today. Visit us at DailyCryptoReport.io for sources and links and listen to us everywhere else you podcast

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