Autor Cointelegraph By Ornella Hernandez

Citadel Securities takes in $1.15B investment from Sequoia and Paradigm

Citadel Securities announced that VC firms Sequoia and Paradigm made a $1.15 billion combined minority investment in the market maker, bringing its valuation to $22 billion. The partnership with Paradigm, a Web3-focused investor, signaled Citadel Securities’ shift toward new asset classes such as crypto.Sequoia, who led the round, with investment from Sequoia Heritage, Sequoia Capital Global Equities and the Global Growth Fund, will also get a seat on the Citadel Securities Board of Directors for Sequoia Partner Alfred Lin.We are proud to announce that Sequoia and Paradigm have made a $1.15 billion minority investment in our firm. https://t.co/EIbWKduS1h— Citadel Securities (@citsecurities) January 11, 2022Related: Sequoia China leads $25M equity round for DeFi wallet DeBankAccording to a statement, Citadel Securities will use the funds to further its growth of new products, markets and regions. Citadel Securities CEO Peng Zhao said:“As technological innovation in financial markets becomes only more important, we see enormous opportunities to meet the needs of our clients across more markets and more products. Our partnership with Sequoia and Paradigm puts us in an even stronger position.”Related: Ken Griffin says Bitcoin will be replaced by Ethereum-based currencyHistorically, Ken Griffin has been as crypto skeptic, even claiming that crypto was “a jihadist call that we don’t believe in the dollar” only a few months ago. The arm of hedge fund Citadel is clearly embracing its expansion into cryptocurrency.

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NYC restaurant claims it will open for NFT holders only

VCR Group, the hospitality company founded by entrepreneur Gary Vaynerchuk, announced the live token sale of its latest members-only private dining club in New York City, called Flyfish Club. Prospective seafood-restaurant-goers must purchase their membership on the blockchain, sold as a nonfungible token (NFT).Flyfish Club (FFC) is the world’s first member’s only private dining club where membership is purchased on the blockchain as a Non-Fungible-Token (NFT) and owned by the token-holder to gain access to our restaurant and various culinary, cultural and social experiences.— Flyfish Club (@Flyfishclub) January 12, 2022VCR Group answered the question “Why NFT?” on the Flyfish Club website, stating:“By utilizing NFT’s, FFC is able to create a loyal, member-community that we can provide special experiences for. NFT’s create new modernistic financial models, which will allow FFC to deliver an exceptional and sustainable product for years to come.” There appear to be two types of memberships available on the official website. The regular tier alleges to give members access to the main dining room, outdoor space and cocktail lounge, and special events for 2.5 Ether (ETH), or $8,474 at time of writing. The second, pricier tier — Flyfish Omakase — will grant access to all of the above plus a 14-seat omakase room and is now available for 4.25 ETH or $14,400.According to its website, Flyfish Membership NFT holders can lease their token to non–tokenholders on a monthly basis, or they can resell it. There are also no reoccurring annual fees. And despite cryptocurrency being required to acquire membership, customers can pay for their food and beverages in U.S. dollars.Flyfish Club is the second concept from VCR Group, following the opening of the omakase-style Japanese restaurant Ito, which is also in New York City but not members-only. Flyfish Club plans to open in early 2023.Related: YouTuber trades Tesla Roadster for NFTFlyfish Club claims to be the first members-only NFT restaurant; however, it is not the first culinary concept to integrate crypto into its business model. More recently, Crypto Street Restaurant opened up in Clearwater, Florida, boasting crypto-themed wall art, menu items and the acceptance of crypto payments.

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Checkout.com raises $1B in Series D, bringing valuation to $40B

Global payments processor Checkout.com announced a $1 billion Series D funding round on Wednesday, which marks a total of $1.8 billion raised to date and a $40 billion company valuation.Among the primary investors in the latest round are Altimeter, Dragoneer, Franklin Templeton, GIC, Insight Partners, the Qatar Investment Authority, the Oxford Endowment Fund and more.Big news We’ve just closed our $1bn Series D funding round at a $40 billion valuation. It will help drive our US growth, our platform evolution, and exciting work in Web3 Read more from our founder and CEO, @GuillaumePousaz https://t.co/KiqE2Q5NGD pic.twitter.com/PEXmtN2Xkv— Checkout.com (@Checkout) January 12, 2022The U.K.-based startup plans to use the funds to scale operations in the U.S. market, further develop their payment platform and “strengthen leadership in Web3,” according to the statement. Checkout.com founder and CEO, Guillaume Pousaz acknowledged:”At our core, we help enterprise merchants to navigate the complexity of moving money around the world, whether in fiat currency or bridging the gap to Web3.”Related: British Payment Firm Checkout.​com Joins the Libra AssociationIn addition to serving ecommerce and services merchants such as Netflix, Pizza Hut and Sony, Checkout.com also powers large crypto players, including Coinbase, Crypto.com, FTX and MoonPay. Its modular products are also used by the fan token provider Socios.com and the blockchain-based wallet Novi from Meta. The company also claims to be beta-testing a proprietary solution for merchants to settle transactions in digital currencies.Pousaz added that the company is still in “chapter zero of our journey” of bridging fiat and cryptocurrencies. And according to Checkout.com’s 2022 e-commerce trends report, payment diversification strategies are “vital” if brands want to convert more sales, especially as merchants increasingly offer digital wallet integrations, QR code scanners and even to sell their own NFTs.

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New NFT marketplace LooksRare allows traders to earn rewards

LooksRare, a recently launched nonfungible token, or NFT, marketplace, says it wants to index all NFT collections on the Ethereum blockchain. The site went live on Monday with a token airdrop.#LooksRare NFT Marketplace Now Live!$LOOKS airdrop claim open⏰ Staking starts at block 13977012Trading reward calculations start tomorrow LFG! https://t.co/Y1jt9Kmqt6— LooksRare – NFT Marketplace (@LooksRareNFT) January 10, 2022Created by two anonymous co-founders, known as Zodd and Guts, LooksRare claimed to be made “By NFT People, for NFT People.” According to its blog announcement, the LooksRare team is “tired of the deplatforming of creators, and the decision-makers who value business over community, seeking IPO instead of benefiting the communities that got them there.”Their alleged solution is to offer a marketplace that rewards the platform’s participants and creators. Users who buy or sell NFTs from eligible collections can earn its native utility LOOKS tokens. OpenSea users who traded 3 ETH or more between June 16–Dec. 16, 2021 are eligible for an airdrop of LOOKS Tokens.Related: GameStop shares jump 26% in after-hours trade after NFT division unveiledIn addition, the platform has a 2% standard fee on all NFT trades, which is lower than OpenSea’s 2.5%, that goes to LOOKS token stakers. And users can trade NFTs with Ether or wrapped ether (WETH). At the time of publication, LOOKS traded at 0.0008748 WETH ($2.69).The LooksRare site was down for a few hours on Monday, which caused some users to experience difficulties while connecting their wallets and completing listings. According to the project’s Discord, the site was under a distributed denial-of-service attack, or DDoS, meaning that its network was overwhelmed with malicious traffic.Related: 5 NFT marketplaces that could topple OpenSea in 2022On Monday, another NFT marketplace launch announcement was made by the news organization Associated Press, which plans to debut its photojournalism NFT platform on Jan. 31.

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‘We are 50% of the way there,’ says Vitalik on Ethereum’s development

Vitalik Buterin has walked listeners through a five-part roadmap on the latest Bankless podcast where he outlined the necessary steps for Ethereum to survive and thrive. In order to achieve ultimate scalability and decentralization, Butalik claimed that Ethereum needs to be more agile and more lightweight in terms of blockchain data so that more people can manage and use it.At the beginning of December, Buterin also published an article titled “Endgame” where he makes the case that all blockchains will ultimately converge in the future, while listing the tools that would allow for block verification to happen in a decentralized and censorship resistant way.[embedded content]The first step is called the merge, referring to the full transition away from proof-of-work to proof-of-stake, taking place in the first half of 2022. Part two, called the surge, plans to give Ethereum increased scalability, massive bandwidth and throughput, particularly on zk-rollups. The merge and the surge are the most important upgrades, according to Buterin, to building out the Ethereum network.When asked to evaluate Ethereum’s progress made so far in the past six years, Buterin asserted that “we are 50% of the way there” thanks to the launch of the Beacon chain, the London hard fork and even the rise of NFTs. But there is still a long way to go. Once the merge and surge go through, and there is full sharding implementation, then it will supposedly be 80% complete. The roadmap, which is estimated to take another six years to complete, will lead to 100% optimization, according to Buterin.The next phases include the verge, enabling more users to run nodes and essentially “democratizing access to the broadest number of participants possible to anyone and everyone who wants to verify the validity of the chain,” said Buterin. Following the verge, are the purge and splurge phases, referring to the elimination of historical data and the addition of miscellaneous upgrades, respectively. Related: Ethereum white paper predicted DeFi but missed NFTs: Vitalik ButerinButerin summarized his ideal scenario for an Eth2 that doesn’t sacrifice decentralization for scalability:“Leave the past in the past and create an Ethereum that actually becomes simpler and simpler over time.” Buterin admitted that Etherum is “not yet the layer-one system that is ready for direct mass adoption,” while reiterating the need for layer-two scaling solutions and reduced transaction fees. He does, however, note the “amazing” progress that Ethereum has seen in layer-two scaling over the past year and the community behind it that is “willing to continue fighting for it.”In addition to scalability, another theme that Buterin emphasized is security and the safety measures around the upgrades. He compared blockchain building to the development of a city. Just as the police and the military work to defend their city or nation, so do blockchain users act as the security guards watching for attackers. And as cities expand or blocks get added to the chain, the more security that is needed. Currently, Ethereum runs on about 2.6 megabytes per second of blockchain data, according to Buterin. He claimed that once Ethereum has the ability to add more bandwidth and increase the user base, “the more defenders will be able to run nodes and to verify that everything is going okay.”Related: 3 reasons why Ethereum can reach $5,000 in Q1Ethereum stands as the world’s second-largest cryptocurrency in terms of market capitalization, at $454 billion at the time of publication, making its journey to completion one of high-stakes. Below is a copy of the roadmap that Buterin posted to Twitter last month.Happy birthday beacon chain!Here’s an updated roadmap diagram for where Ethereum protocol development is at and what’s coming in what order.(I’m sure this is missing a lot, as all diagrams are, but it covers a lot of the important stuff!) pic.twitter.com/puWP7hwDlx— vitalik.eth (@VitalikButerin) December 2, 2021

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