Dinari Raises $7.5M for Decentralized Stock Trading Platform


Founded in 2021, Dinari wants to provide blockchain-backed access to corporate equity through its dShare platform. The dShare platform offers access to securities such as Apple or Tesla stock using a wallet on the Arbitrum network for users outside the United States due to regulatory reasons, said Jake Timothy, Dinari co-founder and chief technology officer, in an email to CoinDesk. Each dShare token is 1-1 backed similar to stablecoins like USDC or Tether.

Curve Token Climbs After Binance Labs Commits to $5M Investment


“Curve is the largest stableswap, and as a key protocol in DeFi it has contributed to the steady growth of the space in 2023,” said Yi He, co-founder of Binance and head of Binance Labs. “Given the recent events that have impacted the protocol, Binance Labs has offered our full support to Curve through our investment and strategic collaboration. We view this cooperation as a starting point and look forward to working together to further propel the growth of the DeFi ecosystem.”

Jump Crypto Backs $5M Round for Bitcoin Wallet Xverse


Other investors in the round included RockawayX, Sfermion, Alliance, NGC Ventures, V3ntures, Old Fashion Research, 2140 Bitcoin Ecosystem Fund, Bitcoin Frontier Fund, Newman Capital, Franklin Templeton, New Layer Capital, Miton C, Gossamer Capital, Daxos Capital, Sora Ventures, Tyhke Block Ventures, IOBC Capital and Despread, among others.

Brevan Howard Backs Crypto Infrastructure Startup Puffer in $5.5M Round


The funding round also included Bankless Ventures, Animoca Ventures, Kucoin Ventures, DACM, LBK, SNZ and Canonical Crypto. Puffer previously received backing from The Ethereum Foundation through a $120,000 grant, and a $650,000 pre-seed round led by Jump Crypto.

Multicoin Backer L1 Digital Raises $152M for Second Crypto VC Fund


L1D is registered with FINMA, Switzerland’s independent financial markets regulator, and manages one alternative investment fund plus the now two venture capital funds, which are backed by professional and institutional clients, including Swiss pension funds, family offices, wealth managers and banks. Founded in August 2018, L1D has had experience with both raising and deploying funds during a bear market.

Bitcoin Remains King While Crypto Hedge Funds Get Rekt


“It is plain to see that a simple buy-and-hold investment into bitcoin would have outperformed all of these fund baskets. Bitcoin added about 80% in value by the half of the year,” wrote 21e6 Capital due diligence manager Jan Spörer and sales and marketing head Maximilian Bruckner in the report. “In previous bull runs, crypto hedge funds were frequently able to significantly outperform the bitcoin benchmark. How can underperformance among professionally managed crypto funds be such a widespread phenomenon?”

Crypto Investor HashKey Aims to Raise $100M for New Digital Assets Fund


HaskKey Capital, a digital asset financial services firm, announced plans to launch a liquid digital assets fund regulated by the Hong Kong Securities and Futures Commission (HK SFC) on September 1. HashKey is aiming to raise at least $100 million for the open-ended fund, which will focus entirely on virtual assets, a HashKey representative told CoinDesk.

Metaverse Project Futureverse’s Co-Founders Start $50M Venture Fund


The Born Ready fund will cut checks between $250,000 and $1 million per project, the team told Fortune in an interview. It has already deployed capital into a variety of companies, including high-tech sneaker startup FCTRY Lab, Web3 startup Power’d Digital, and blockchain gaming companies Polemos and Walker Labs. Born Ready will announce an accelerator program with funding opportunities at a later date.

Bitcoin Won’t Back U.S Dollar, Presidential Hopeful Vivek Ramaswamy Says


“I think that bitcoin, for me, for a number of reasons, does not yet meet that commodity basket,” Ramaswamy said. “I’m a bitcoin fan. I spoke at a bitcoin conference. I want to stabilize the dollar against agriculture and farm commodities, gold, silver and nickel.”

Nomura Backs $6M Round for On-Chain Fund Platform Solv Protocol


“Solv has built a trustless institutional DeFi platform integrating brokers, underwriters, market makers, and custodians to create the first fund infrastructure on the blockchain to bridge DeFi, CeFi and TradFi liquidity,” said Olivier Deng, global chief operating officer for the wholesale digital office at Nomura, in the press release.

Crypto Firms Raised $129M Last Week, Led by Flashbots


Infrastructure projects again dominated the week with six projects, while Web3 was the only other category represented. The week was also dominated by early-stage deals in the seed or pre-Series A stages, a common theme during the extended crypto winter. Later stage rounds involve more risk and due diligence, and the size of those rounds has gotten smaller amid the bear market.

Disgraced U.S. Congressman George Santos Involved Crypto in Nigerian Prince-Like Scheme: NYT


George Santos, a first-term member of the House of Representatives, is under indictment for thirteen felonies, including allegedly embezzling contributions from supporters, fraudulently collecting unemployment checks and lying in disclosures to the House. But one of his more bizarre schemes, which involved cryptocurrency, seemed to be inspired by the classic Nigerian prince email scheme, according to a New York Times report.

Amazon Expands Managed Blockchain Services


AMB Access expands AMB’s node offerings with serverless, scalable access to blockchains. Developers can use standard remote procedure calls, a method of asking an external computing source to perform a function, to interact with digital assets and distributed applications across multiple blockchains without specialized infrastructure.

DeFi Headed Toward a ‘Major Resurgence,’ Tribe Capital’s Boris Revsin Says


In late 2018, the crowdfunding platform Republic acquired Game Theory Group and Revsin was brought on to head its new Republic Capital arm, which was distinct from the more consulting and builder-oriented Republic Crypto group. By the time Revsin left in April 2022, Republic Capital had raised more than $600 million, held about $1 billion in assets under management and had invested in more than 80 startups, including Avalanche, Polygon, Blockdaemon and Kraken.

Crypto Firm Flashbots Raises $60M in Paradigm-Led Round


The Block first reported on the funding round, citing a July 21 filing with the U.S. Securities and Exchange Commission that showed Flashbots had raised $30,353,089 of a $59,999,919 target. A source told The Block that two more filings would become public in the coming days that would complete the round. The publication said the round carried a $1 billion valuation. A Flashbots spokesperson declined to confirm that figure to CoinDesk.

Binance Labs Invests $10M in DeFi Lender Radiant, RDNT Jumps 10%


Traders, known as Dynamic Liquidity Providers, can lock in the native RDNT token to profit from interest and flash loan fees and have governance authority within the Radiant DAO. The protocol’s platform fees are paid out in bitcoin (BTC), ether (ETH), BNB Coin (BNB) and stablecoins.

Solana Foundation, Polygon Lead $30M Fundraise for Web3 Firm Cosmic Wire


“We are very excited for Cosmic Wire’s Web3 infrastructure to be built on the Solana network,” said Johnny Lee, general manager of games, entertainment, and media at Solana Foundation, in a press release. “Their metaverse SDK solutions significantly reduce development times of high-fidelity, 3D, browser-based metaverse experiences with e-commerce of both physical web3 digital products, content CDNs [content delivery networks], payment solutions and avatar UGC [user generated content] all integrated,” Lee added.

Polychain Capital Co-Leads $25M Fundraise for Manta Network Developer


“We are excited to see Manta expanding into the Ethereum ecosystem, and have doubled down on our investment this Series A round,” said Luke Pearson, Investor at Polychain Capital. “Manta Pacific will leverage the performance capabilities of the modular ecosystem, whilst also allowing increasing access to ZK through Universal Circuits,” he added.

Blockchain Capital Leads $40M Round for Crypto Firm RISC Zero


The funds will help RISC Zero bring its Bonsai computing platform to market. Other investors in the round included Galaxy Digital, IOSG, RockawayX, Maven 11, Fenbushi Capital, Delphi Digital, Algaé Ventures, IOBC, Tribute Labs’ Zero Dao, and Alchemy, according to a press release provided to CoinDesk.

Crypto VC Firm Polychain Capital Raises $200M for Fourth Fund: Fortune


Polychain Capital was founded in 2016 by early Coinbase employee Olaf Carlson-Wee. The firm has about $2.6 billion in assets under management, Fortune said citing Pitchbook data. The extended crypto winter has put pressure on the crypto investment landscape for both startups and the venture capital firms that back them.

Dragonfly, Arthur Hayes Back $6M Round for New Stablecoin, Ethena


“Ethena is building the holy grail of stablecoins: a coin that is truly stable, decentralized, and capital-efficient,” said Dragonfly general partner Tom Schmidt in the press release. “Stablecoins have grown massively in popularity over the past few years by providing access to USD-denominated savings and remittances for people around the world, but they’ve always been handicapped by one of these three issues. Ethena has a breakthrough design that remedies these issues while also benefiting a broad user-base. We’re thrilled to be partnering with them to bring their vision to life.”

Web3 VC Shima Capital Didn’t Slow Strategy for Crypto Winter


“Infrastructure deals typically hold up well in crypto winter because they usually take longer to build the projects and also require much more talent, which is cheaper now,” said Gao. “On the other end of the barbell, we see that consumer apps, specifically gaming, continue to make up a large portion of our portfolio,” he continued. “People play more games in bear markets and, more importantly, tokenomics and digital assets fit nicely into a well-designed game.”

Binance Labs Invests $15M in Web3 Gaming Startup Xterio


“The Xterio ecosystem is expanding faster than ever and bridges free-to-play genres with on-chain gaming enhanced by AI capabilities,” said Yi He, co-founder of Binance and head of Binance Labs. “The Xterio core team brings together experienced Web2 professionals with Web3 expertise; we look forward to closely working with them to allow gamers around the world to experience rich on-chain gameplay.”

AI-Backed Web3 Security Firm Olympix Raises $4.3M


“Out of the many wins Olympix has had over the past year, I’m most proud of the results of our static analyzer private alpha,” wrote Greenwall in the announcement post. “With 30+ companies participating, including Blockdaemon, Rysk Finance, and Arrakis Finance, we’ve become a trusted part of the developer workflow not just to find and fix vulnerabilities, but help the developer become more sophisticated through real-time micro-teaching moments. Most notably, our private alpha has helped developers secure over $300 million in assets since its launch.”

Brevan Howard Joins $12M Round for Liquid Staking Protocol Alluvial


Software development company Alluvial has raised $12 million in a Series A funding round to further development of Liquid Collective, a liquid staking protocol. Ethereal Ventures and Variant co-led the fund with participation from Brevan Howard Digital, Avon Ventures, Nascent Capital, a_capital, Robot Ventures, Fenbushi, IOSG and Blockdaemon, among others.