Avalanche rakes in £167m of funding led by Polychain

Avalanche

Avalanche, a proof-of-stake and smart-contract enabled cryptocurrency, has received £167 million in funding through a private sale led by Polychain and Three Arrows Capital.

R/Crypto Fund, Dragonfly and CMS Holdings also invested substantially by buying up the company’s native AVAX token.

Avalanche is an ultra-fast and eco-friendly blockchain protocol with a growing ecosystem of decentralised finance (DeFi) products.

Avalanche has experienced monumental...

Blockchain Expo 2021: Crypto investors, CBDC, and retail participation

Cryptocurrencies.

The global blockchain technology market is estimated to accumulate $20 billion in revenue by 2024.

According to a study by Transparency Market Research (TMR), this is largely down to the rapidly rising interest among several giant companies in leveraging the disruptive potential of blockchain.

This, in turn, has created an increasingly competitive vendor landscape. Furthermore, the continuous entry of new players capitalising on the use of the process for practical...

DigitalBits signs £73m deal with Inter Milan FC

Inter Milan DigitalBits Partnership

DigitalBits has signed a €85 million (£73m) multi-year partnership with Italian Serie A’s reigning champions Inter Milan FC.

The partnership marks the second Italian top-flight team to sign a major deal with the cryptocurrency company in recent months, with AS Roma FC agreeing to a €36m deal in July.

As part of this partnership, DigitalBits becomes the ‘Official Global Cryptocurrency’ and Zytara Labs becomes the ‘Official Global Digital Banking Partner’...

Advertising campaign launched to highlight cryptocurrency investment risk

A view of Edinburgh.

UK-based money app Ziglu, which offers people access to a range of cryptocurrencies such as Bitcoin and Ethereum, has launched a new advertising  campaign in Edinburgh with the slogan ‘Scotland, Your Capital is at Risk’.  

It will appear in more than 200 outdoor locations and will run until September 5, 2021. As more people start to invest in cryptocurrencies for the first time and the sector becomes more mainstream, Ziglu has launched its campaign to highlight how...

Liquid hit by $100m crypto heist in second major hack this week

Crypto Hacker

Liquid, a Japanese cryptocurrency exchange, has been hit by a cyberattack that saw $97 million (£71m) stolen from users’ digital wallets.

Liquid said some of its digital currency wallets had been “compromised,” and that hackers were transferring the assets to four different wallets.

“We are currently investigating and will provide regular updates,” Liquid tweeted. “In the meantime deposits and withdrawals will be suspended.”

Although no estimated...

Cardano’s ADA token becomes third largest cryptocurrency

Cardano ADA Token

ADA, Cardano’s native token, has surpassed stablecoin Tether to become the third largest cryptocurrency based on market cap.

According to cryptocurrency tracker CoinGecko, the ADA token now has a market cap of $64.9 billion (£47.2bn) compared to recently overtaken Tether which sits just shy at $64.6 bn (£46.9bn).

Perhaps more notably, the Cardano coin has a seven day growth rate of 20.8%, putting it leaps and bounds ahead of Tether’s 0.7% growth or top dog...

Stijn Vander Straeten, CEO, Crypto Finance Infrastructure Services: The rise of tokenisation and the need for crypto carbon indexing

Stijn Vander Straeten, CEO, Crypto Finance Infrastructure Services

The Block caught up with Stijn Vander Straeten, CEO of Crypto Finance Group’s infrastructure services subsidiary, to discuss milestones, tokenisation, and plans for the future ahead of the company’s appearance at Blockchain TechEx Global from 6-7 September.

Crypto Finance Infrastructure Services, based in Zug, Switzerland, distinguishes itself from other businesses in the digital asset space through exclusively serving business-to-business (B2B) clients like banks, brokerage...

Amazon looking to hire digital currency and blockchain expert

Amazon office

A new Amazon job posting for a “digital currency and blockchain product lead” further solidifies speculation that the e-commerce giant is planning to bring its payments system into the crypto age.

The position, based at Amazon’s headquarters in Seattle, will be part of the company’s payments acceptance and experience team.

The job posting, which calls for “an experienced product leader to develop Amazon’s digital currency and blockchain strategy and product...

Digital-only cryptocurrency artwork predicted to sell for £200,000+

The Crypto Train artwork.

A digital artwork that only exists as a high-resolution file is expected to surpass its reservation price of £120,000 when its auction by Thomas Crown Art is completed.

‘The Crypto Train’ by British artist Adrian Chesterman is said to showcase the parallel between traditional money and cryptocurrencies like Bitcoin.

NFTs are digital collectibles that are encoded onto a blockchain - the same technology on which cryptocurrencies run - creating a unique digital...

PayPal scraps annual purchase limit of cryptocurrency

PayPal Office, Dublin

PayPal has announced its annual purchase limit of $50,000 (£36,500) for Bitcoin and other digital assets is being removed.

Similarly, the platform’s weekly purchase limit is being raised fivefold from $20,000 (£14,500) to $100,000 (£73,000).

Jose Fernandez da Ponte, PayPal’s vice president of blockchain, crypto and digital currencies said: “These changes will enable our customers to have more choice and flexibility in purchasing cryptocurrency on our...