Autor Cointelegraph By Zhiyuan Sun

Kevin Durant and Rich Kleiman's Thirty-Five Ventures to create NFT drops with Coinbase

Kevin Durant and Rich Kleiman's Thirty-Five Ventures to create NFT drops with Coinbase

Uverejnil používateľ | dec 15, 2021 |

On Wednesday, Thirty Five Ventures, a venture capital firm co-founded by NBA star Kevin Durant and sports manager Rich Kleiman, announced a business partnership with Coinbase. Under the agreement, Thirty Five Ventures will work jointly with Coinbase to create nonfungible tokens, or NFT, drops, storytelling content about NFTs and crypto, as well as showcasing Coinbase’s recent growth in the sector. According to the announcement, there will additionally be a philanthropic integration with the Kevin Durant Charity Foundation. Coinbase is currently the third-largest centralized cryptocurrency exchange in the world by trading volume. At the time of publication, there is currently a waitlist of over 2.6 million users for Coinbase NFT. The company said it is currently designing a self-custody wallet for NFTs integration. By the end of this year, Cointelegraph Consulting estimates that NFT sales will surpass $17 billion.Rich Kleiman issued the following the statement regarding the partnership:”Historically, premium has meant brands that have been around forever, like Mercedes, Rolex, and American Express. But in five years, Coinbase has become representative of that era and is in line with our premium brand philosophy. And we’re getting into this formalized agreement with a company that is just scratching the surface on where it’s going.”Ready for the next phase @coinbase @35ventures @boardroom https://t.co/j7jMczim9b pic.twitter.com/Jn9LslDqER— Kevin Durant (@KDTrey5) December 15, 2021

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Crypto payments solutions firm Ramp raises $53 million to increase adoption of dApps

Crypto payments solutions firm Ramp raises $53 million to increase adoption of dApps

Uverejnil používateľ | dec 15, 2021 |

On Wednesday, crypto-fiat gateway payments provider Ramp announced it had raised a $52.7 million Series A funding round led by Balderton Capital, NFX, Galaxy Digital, Seedcamp, Firstminute Capital, and angel investors. Ramp allows its partner brands to offer crypto-enabled services, claiming that it takes mere hours for developers to integrate their decentralized applications, or dApps, with its software. It has over 400 partners, including Axie Infinity, Mozilla, Opera Browser, Dapper Labs, Aave, Argent, Trust Wallet, and Zerion. The firm has regulatory approval in the U.S., U.K., and Poland.Current uses of Ramp include purchasing cryptocurrencies for storage in wallets directly in the Opera internet browser, buying and selling in-game content within fantasy football nonfunguible tokens, or NFTs, game Sorare, and onboarding new players in monster battle NFTs game Axie Infinity. In the future, Ramp developers plan to expand the software to help facilitate crypto transactions for financial institutions within their banking apps.Szymon Sypniewicz, co-founder and CEO of Ramp, issued the following statement regarding the development:”We’re on a mission to provide instant access to cryptocurrencies through a provider they can trust.”Morgan Beller, general partner at NFX and Ramp board member, added:”When I look at web3 companies, I ask: ‘Will this product help onboard net new users to the space?’ And, of course, does this product have network effects? Ramp is the ultimate answer to both questions. It is unique in its ability to help take web3 to the next adoption level.”

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SEBA Bank launches regulated gold token to enable digital ownership of physical gold

SEBA Bank launches regulated gold token to enable digital ownership of physical gold

Uverejnil používateľ | dec 15, 2021 |

On Dec. 15, SEBA Bank, a licensed Swiss digital assets banking platform, launched a regulated digital token backed by physical gold and exchangeable for delivery. SEBA claimed that due to its regulatory-compliant nature and the low volatility of gold prices, the gold token could eventually be used as a stablecoin for on-chain transactions.In other words, the design of the gold token bears similarity to gold standards, where fiat currencies are backed by their exchangeability to physical gold in addition to faith entrusted in governments that issue them. In 1971, U.S. President Richard Nixon took the dollar off the gold standard, where it was established that every $35 in dollars could be exchanged for one ounce of gold as per the 1944 Bretton Woods system.Gold-backed currencies are known for their ability to eliminate hyperinflation — a common fear among crypto enthusiasts. However, they also bear the downside of prolonging economic depressions as governments’ ability to print stimulus is restricted by gold supply. No country in the world currently operates on gold or silver standards.Buehler explained the development in the following statement:”Redeemable directly from refineries on-demand at any time; our gold token removes the frictions of owning gold for investors and provides a cost-effective solution for owning the asset fit for purpose in the new economy.”Previously, SEBA launched a program for users to earn yields on crypto. It is the first bank in the country to have received a digital custody license.

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Cove Markets to join Robinhood Crypto in latest acquisition

Cove Markets to join Robinhood Crypto in latest acquisition

Uverejnil používateľ | dec 14, 2021 |

Cove Markets, an API platform that enables users to trade across multiple centralized exchanges and manage aggregate financial data, will become part of Robinhood Crypto, as announced by the discount brokerage late Tuesday. Traders and investors can connect up to seven exchanges, including Coinbase Pro, Kraken, Bitfinex, etc., using Cove Markets to trade over 50 major currencies and altcoins.The two trading firms said they plan to increase the volume of order routing and execution on Robinhood with the acquisition. Christine Brown, chief operating officer of Robinhood Crypto, made the following remarks regarding the development:The Cove Markets team’s wealth of experience in trading execution and crypto market infrastructure will help us to build more powerful trading capabilities, bringing the benefits of better competition in the crypto markets to our customers.Thrilled to welcome the @CoveMarkets team to Robinhood! Their incredible experience in trading execution and crypto market infrastructure will help us to build an even better crypto platform for all our Robinhood crypto traders. https://t.co/m4Wnl9Ojv3— Christine (Hall) Brown (@christine_hall) December 14, 2021Robinhood has taken a sharp focus on the cryptocurrency industry in recent years. The day prior, it announced a partnership with blockchain analytics firm Chainalysis to provide data and tools for the rollout of its native crypto wallet. Currently, the waitlist for such a feature, which is expected to launch early next year, has grown to over 1.6 million. But its stock investors have had a tough year. Shares are down nearly 70% since August highs after the company’s IPO.

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NYDIG raises $1B in funding, valuation now $7B

NYDIG raises $1B in funding, valuation now $7B

Uverejnil používateľ | dec 14, 2021 |

On Tuesday, New York Digital Investment Group, or NYDIG, a financial institution specializing in Bitcoin financial services such as savings accounts, trading brokerages, 401(k)s, etc., announced it had secured a $1 billion equity investment led by WestCap. The funding places its valuation at nearly $7 billion.The firm has proved to be popular among institutional investors. Last year, Stone Ridge, a $10 billion asset manager, purchased 10,000 Bitcoin (BTC) via NYDIG’s services. NYDIG is also set to bring BTC adoption to over 650 U.S. banks and credit unions, as well as launching BTC trading for 18 million U.S. banking customers. In addition, NYDIG has been consistently launching new funding rounds throughout the past two years, with $100 million raised in April and $200 million in March, respectively.Aside from institutional interest, the company is also broadening its outreach in a partnership with the National Basketball Association’s Houston Rockets announced last month. NYDIG will be paying the team in BTC under the terms. Again in November, the firm announced the $300 million acquisition of Bottlepay, whose technology enables the transfer of small payments or microtransactions of BTC and traditional fiat currencies across the United Kingdom and European Union.NYDIG has raised $1 billion to accelerate growth & enhance its institutional-grade Bitcoin platform to support Lightning⚡️ payments, asset tokenization, and smart contracts. @NYDIG_BTC’s mission is #Bitcoin for All. https://t.co/S5iHOOsNKa— Michael Saylor⚡️ (@saylor) December 14, 2021Scott Ganeles, partner at WestCap, issued the following statement regarding the development:NYDIG plays a unique role in the industry, empowering companies of all types to incorporate Bitcoin in a secure and compliant way. We are proud to partner with Robby and his outstanding NYDIG team as they forge new paths to accessibility and further accelerate Bitcoin adoption.

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