Author: Wayne Jones
Enterprise capital agency Sequoia Capital stands to make roughly $100 million following Stripe’s $1.1 billion buy of Bridge. The substantial return is especially notable within the crypto sector, the place enterprise funding has considerably declined since its peak in 2022. Different Buyers Additionally Set for Main Returns In response to experiences from Bloomberg, Sequoia invested $19 million in Bridge throughout its Collection A funding spherical that passed off lower than a 12 months in the past. The quantity interprets to 16% of the stablecoin platform’s possession, which, when liquidated, may lead to a $100 million windfall. Different corporations that invested…
Reddit, a pioneering social media drive for crypto engagement and arguably the most well-liked dialogue discussion board, offloaded a considerable portion of its digital asset holdings within the third quarter of 2024. In its newest regulatory submitting, the corporate revealed that it bought most of its Bitcoin (BTC) and Ethereum (ETH) treasury property, producing $6.87 million. Reddit Hits Revenue The tidy sum raked in from the sale helped Reddit flip a revenue for the primary time in its 19-year existence, amounting to only beneath $30 million. It first revealed the crypto investments in a February 2024 IPO submitting with the…
In accordance with a brand new report by the Monetary Intelligence Unit (FIU), South Korea’s cryptocurrency investor base has surged to 7.78 million. This determine marks a 21% improve from the earlier yr. The “Digital Asset Enterprise Survey” exhibits home crypto buyers elevated by 1.33 million in comparison with the second half of 2023, pushed largely by an explosive progress in Bitcoin’s worth. Investor Profile and Market Conduct This progress coincides with a 67% improve within the common every day transaction quantity in South Korea’s digital asset market, which hit a report 6 trillion received ($4.3 billion), up from 3.6…