Amber Group raises $200M. Foxbit raises $21M. Fast Break Labs raises $6M. Bitscrunch raises $3.6M
Not a lot of good news this week. We feel heartbroken at the news and images coming from Ukraine. A war in the 21st century is unthinkable. Our thoughts are with our Ukrainian friends, in or outside the blockchain space.
We can only wish for a quick resolution of the situation.
Recap of the Week
Gemini joins Coinbase, Block and others to support lawmakers and regulators to help further the adoption of crypto worldwide
Coinbase made $2.2 billion from transaction fees in Q4, 2021.
Brazil set to follow El Salvador in full-scale adoption of Bitcoin
Ukraine bitcoin exchange volume spikes 200% as Russia war sparks currency concerns
A shortage of blockchain talent is inflating salaries and brewing up competition in the industry building Web 3
From McDonald's to Walmart are gobbling up metaverse trademarks
Manchester City has collaborated with Sony to build the world’s first football stadium in the Metaverse
Latest Funding Rounds in Crypto
🔹 Amber Group raises $200M in Series B+ · Founded in 2017 · Hong Kong
Amber Group is a one-stop crypto finance service provider that provides liquidity provision, trading and asset management services 24/7.
The firm will use the funds to expand its global footprint in developed and developing markets.
Round led by Temasek Holding. The round was raised at a valuation of $3 billion.
🔹 Foxbit raises $21M in Series A · Founded in 2014 · Brazil
Foxbit is a cryptocurrency exchange operating in Brazil with trading in bitcoin, ether, litecoin, TrueUSD and XRP.
Funds will be used for the development of new technologies, expansion of the company’s product and technology teams and potential acquisitions.
Foxbit plans to lower fees by integrating blockchain networks and boost its B2B segment by attracting traditional Brazilian players to crypto.
Round led by OK Group, owner of crypto exchange Okcoin
🔹 Fast Break Labs raises $6M in Seed Round · Founded in 2021 · US
Fast Break Labs, a Web 3 startup, is creating the Virtual Basketball Association, an online fantasy sports league that lets gamers manage their own basketball team by building a roster and then competing against other virtual teams for prizes.
The game is built on the Solana blockchain and is similar to other play-to-earn games on the market. Gamers will need to buy a pack of NFTs that are used as the players on a team’s roster.
Round co-led by Pantera Capital and Patron Capital firm.
🔹 Bitscrunch raises $3.6M in Private Round · Founded in 2021 · Germany
BitsCrunch uses AI-based analytical tools to determine the fair price of NFTs, identify wash trading warnings, and determine whether an NFT is a copy of the genuine asset.
The funds will be utilized to expand its team in India and to secure many prominent blockchain technologies such as Solana, Polkadot, Algorand, among others.
Round led by Animoca Brands.
Acquisitions
🔹 London Stock Exchange acquires Tora Trading Services
Acquisition of $325M - Feb 2022
London Stock Exchange enables stock brokers and traders to buy and sell stocks, bonds, and other securities.
Tora offers software trading solutions for customers exposed to stocks, forex, fixed income securities, derivatives and cryptocurrencies.
The acquisition is an important extension of LSE’s global trading business. Acquiring Tora will enable LSE to deliver critical "at trade" capabilities for the buy-side.
🔹 Bitpanda acquires Trustology Wallet Provider
Terms were undisclosed - Feb 2022
Bitpanda is an Austria-based centralized crypto exchange that provides users access to digital assets.
Trustology is a UK-based DeFi Custodian platform that safeguards crypto assets.
The acquisition's main objective is to make DeFi more accessible to institutional investors, service providers as well as token issuers.
Meme of the Week