Startups

DeFi Startup Compound Finance Raises $25 Million Series A Led by A16z

Lending protocol Compound Finance just raised $25 million in a round led by Andreessen Horowitz’s a16z crypto fund, marking one of the largest venture capital investments in a decentralized finance (DeFi) startup to date. According to DeFi Pulse, Compound has nearly $103 million worth of crypto locked up in its automated system, which can generate …

DeFi Startup Compound Finance Raises $25 Million Series A Led by A16z Read More »

Alibaba Offers Bitcoin Rewards Through Lolli Shopping App for ‘Singles Day’

Lolli, an affiliate retail startup that gives online shoppers bitcoin instead of regular cash-back perks, just announced its first Asian partnership with Chinese e-commerce giant Alibaba. Lolli’s in-browser app allows users to shop through merchants’ websites as they normally would, but earn small bitcoin rewards delivered to the in-browser wallet. CoinDesk reached out to Alibaba …

Alibaba Offers Bitcoin Rewards Through Lolli Shopping App for ‘Singles Day’ Read More »

Pension Funds Double Crypto Asset Exposure in Morgan Creek’s Fund to 1%

Morgan Creek Digital now takes up around 1 percent of the assets of two Fairfax Retirement System pension funds – an investment which has more than doubled since taking their first position in the fund that closed in February. Two of the three pension funds under the system from Fairfax County, Virginia, the Police Officer’s …

Pension Funds Double Crypto Asset Exposure in Morgan Creek’s Fund to 1% Read More »

Zcash Will Get a Gateway Into Ethereum’s DeFi Ecosystem

When cryptocurrency fans gathered in Osaka, Japan, this week for the Devcon developer conference, the halls were filled with buzz about smaller projects seeking access to ethereum’s decentralized finance smorgasbord, especially loans and financial products, via interoperability. “Connecting to other chains doesn’t seem to be an ethereum developer’s priority,” Summa co-founder James Prestwich told CoinDesk. …

Zcash Will Get a Gateway Into Ethereum’s DeFi Ecosystem Read More »

Facebook’s Calibra Sued by Mobile Banking App Over Similar Logos

Facebook’s Calibra is being sued for trademark infringement by mobile banking app Current, adding a potential legal showdown to the beleaguered Libra digital currency project’s growing list of woes. The complaint, filed Thursday in the U.S. District Court for the Southern District of New York, alleges that the Calibra logo is too similar to Current’s …

Facebook’s Calibra Sued by Mobile Banking App Over Similar Logos Read More »

Overstock-Funded Bankorus Has No Money or Staff, Says $1M Shareholder

The largest shareholder in Overstock-funded blockchain wealth management startup Bankorus has claimed that the firm has no money left. In a statement issued on Oct. 6, Sonic Zhang said that previous funding deals for Bankorus had fallen through and that all its employees have resigned. Zhang: Bankorus “has run out of cash” As a contributor …

Overstock-Funded Bankorus Has No Money or Staff, Says $1M Shareholder Read More »

Binance and Polychain Are Funding a Crypto-Friendly Bank in Malta

To some, Malta-native Paula Pandolfino may seem like a walking contradiction: bitcoiner and banker. After personally investing in bitcoin in 2016, she’s now co-founder of the upcoming Founders Bank in Malta, scheduled to open in 2020. “Crypto will take over the world, and we need full banking services,” she told CoinDesk. “We want to be …

Binance and Polychain Are Funding a Crypto-Friendly Bank in Malta Read More »

Bankers Start to Recognize Bitcoin’s Role in Financial Evolution

</header> <strong>Digitization, disruption, blockchain, and frictionless payments. It’s amazing how prominent figures from the financial elite can provide a pretty detailed description of decentralized money without uttering “bitcoin” or “crypto.” But the fact of the matter is that clever businessmen in any industry, banking is no exception, would quickly spot emerging competition, analyze its strengths, …

Bankers Start to Recognize Bitcoin’s Role in Financial Evolution Read More »

Ripple’s Xpring Looks to Build XRP DeFi Products With New Acquisition

Ripple has made its first move towards building decentralized finance (DeFi) products based on XRP. With its acquisition of decentralized payments platform Logos Network, Ripple’s investment arm, Xpring, will add nine New York-based engineers. Logos founder and CEO Michael Zochowski will become Xpring’s “Head of DeFi Products.” Xpring did not disclose the price of the …

Ripple’s Xpring Looks to Build XRP DeFi Products With New Acquisition Read More »

Bitcoin Shopping App Fold Raises $2.5 Million to Bring Lightning to Retailers

The lightning-friendly Fold App, which allows users to spend bitcoin on goods like clothes and pizza and then earn bitcoin-back rewards, just added fiat capability after raising its first round as an independent startup. Fold product lead Will Reeves told CoinDesk the startup spun out of Thesis with a $2.5 million raise led by Craft …

Bitcoin Shopping App Fold Raises $2.5 Million to Bring Lightning to Retailers Read More »