Day: October 30, 2023

a16z targets $3.4B for next early and seed-stage funds: report

Andreessen Horowitz (a16z) is planning to raise $3.4 billion for its next early and seed-stage fund.
The fundraising is reportedly set to start by the end of year.

Andreessen Horowitz (a16z), a crypto-friendly venture capital firm based in Silicon Valley, is targeting approximately $3.4 billion for the next early-stage and seed-stage funds, according to Axios.

According to the report, the core fund will represent a slight increase for a16z when compared to previous efforts.

New growth, crypto and bio vehicles

Andreessen Horowitz is one of the bullish VCs on AI, an area that’s seeing a significant uptick in investments. But as artificial intelligence projects prove a big hit for VC fundraising, the broader landscape is seeing notable declines.

The fundraising that reportedly is marked to start towards the end of the year eyes “new growth, crypto and bio vehicles in 2025.” Per Axios, the VC giant “will ask, although not require, limited partners to invest via a new master vehicle that would feed into sub-funds (including some of its sector-specific vehicles).”

In May 2022, a16z announced a $4.5 billion fund that targeted projects in crypto and blockchain. Earlier this year, Andreessen Horowitz outlined its bullish outlook on generative AI, noting the industry’s massive potential and impact. 

That perspective adds to its footprint in the crypto space, with high profile investments including those in Coinbase, Dapper Labs, Avalanche and MakerDAO.

The post a16z targets $3.4B for next early and seed-stage funds: report appeared first on CoinJournal.

Cosmos proposal to transfer 42.7 million unclaimed Neutron (NTRN) approved

Cosmos Hub announced on October 30 that proposal #835 seeking the transfer of 42.7 million tokens from Neutron DAO to Cosmos Hub community pool had passed.
The proposal authorises the transfer of 42,727,950 NTRN in airdrop tokens not claimed.

Cosmos (ATOM) has announced that the proposal to transfer more than 42.7 million tokens from an unclaimed airdrop of the CosmWasm platform Neutron (NTRN), has been approved.

The governance proposal #835 sought to authorise the Neutron DAO to transfer the 42,727,950 NTRN that had not been claimed to the Cosmos Hub community pool.

Cosmos’ proposal and funds’ use

On October 30th, the Cosmos Hub revealed the governance vote had passed and the 42.7 million NTRN worth approximately $18,000,000 at the time of the proposal will now be moved to the community pool.

Proposal #835 is approved ✅

42,727,950 NTRN are on their way to the Hub Community Pool!

Establishing a stronger alignment between @Neutron_org and the Cosmos Hub ⚛️ pic.twitter.com/ivpVETLMth

— Cosmos Hub ⚛️ (@cosmoshub) October 30, 2023

Included in proposal #835 were policy details that outlined the rules that applied to the transfer in relation to how the Cosmos ecosystem could utilise these funds. 

Approval and the subsequent transfer from the Neutron DAO was pegged on the understanding that the Cosmos community would adopt a policy that affects no harm to Neutron as a result of the funds’ use.

The other was that there would be mutual benefit, that the Cosmos network, its governance, and the community would ensure proper use of the funds for long-term benefit to both the Cosmos Hub ecosystem and Neutron.

Binance added NTRN to its Launchpool as the 38th token on October 10. The 20-day offering allowed users to farm NTRN tokens by staking their BNB, or stablecoins TUSD and FDUSD.

The post Cosmos proposal to transfer 42.7 million unclaimed Neutron (NTRN) approved appeared first on CoinJournal.

Celestia’s Mainnet set to launch with TIA Airdrop and exchange listings

Celestia’s mainnet launches on October 31, with several exchange listings.
A 60 million TIA token airdrop is scheduled for active users on Ethereum Layer 2s, Cosmos Hub.
Celestia’s modular design and consensus mechanisms make its launch a standout event in the crypto space.

The highly anticipated launch of Celestia’s mainnet is just around the corner, and it brings with it a flurry of activity in the cryptocurrency world.

Below are the key details of what to expect from Celestia’s mainnet launch, including an exciting airdrop and exchange listings.

Mainnet launch and exchange listings

Celestia, a modular blockchain network, is gearing up for the release of its mainnet, scheduled for October 31. This marks a significant milestone in the project’s development and introduces new opportunities for users and investors.

Centralized exchanges, including KuCoin and Bybit, have already announced their plans to begin trading Celestia’s native token, TIA, at around 10 a.m. EST on the day of the mainnet launch. The trading pairs will primarily involve the USDT stablecoin, providing users with a convenient way to access TIA tokens. 

Binance has also confirmed its intention to list TIA, with trading tentatively opening at 16:00 UTC.

Binance will list Celestia (TIA) and tentatively set to open trading for these spot trading pairs at 2023-10-31 16:00 (UTC). Previously, a total of 191,391 addresses claimed the 60 million TIA airdrop allocation (6% of the total). https://t.co/o4qRdQL9Uu

— Wu Blockchain (@WuBlockchain) October 30, 2023

Airdrop for active participants

One of the most exciting aspects of Celestia’s mainnet launch is the generous airdrop program.

The project has allocated 60 million TIA tokens to be distributed to various groups of active participants. These groups include users on Ethereum Layer 2s, stakers on Cosmos Hub and Osmosis, and developers within the broader crypto ecosystem.

It’s important to note that the snapshot for this airdrop was taken on January 1, 2023.

The airdrop accounts for 6% of the total TIA token supply, offering a valuable opportunity for those who have actively participated in the blockchain ecosystem.

The post Celestia’s Mainnet set to launch with TIA Airdrop and exchange listings appeared first on CoinJournal.

Robert Kiyosaki picks gold and bitcoin over stocks and bonds

Robert Kiyosaki challenges the 60/40 investment strategy that has 60% stocks and 40% bonds.
He says a portfolio with 75% gold, silver Bitcoin mixed 25% real estate/oil is better.
Investors might want to shift if they want to survive an imminent economic crash of historic proportions.

Robert Kiyosaki, a renowned author and entrepreneur, says the current market is not one where the traditional 60/40 investment advice works. 

Financial experts have for ages talked about having 60% of one’s portfolio in stocks and 40% in bonds. But according to Rich Dad Poor Dad author, those who take this approach to portfolio allocation are “the biggest of losers.”

Gold, silver and Bitcoin

Rather than the 60/40 strategy, Kiyosaki suggests putting 75% of the investment in gold, silver and Bitcoin, and 25% in real estate or oil. Such a portfolio might survive a global crash.

 “Forever and ever financial experts have promoted the idea “Smart Investors invest in 60/40 60% bonds 40% stocks. In 2024 60/40 investors will be biggest losers. Before going down with the ship consider a shift to 75% Gold, Silver, Bitcoin 25% real estate/oil stocks. This mix may allow you to survive the greatest crash in world history,” he said in an October 29 post on X.

In another post last week, Kiyosaki noted that his first gold coin cost him $40 – today it’s worth $2,000. Rather than wanting to be like the Oracle of Omaha Warren Buffett, he opined that “Dollar Cost Averaging” was what average investors should go for when looking to accumulate assets.

Gold dropped $10 today. Silver 14 cents. This is where “Dollar Cost Averaging” pays off. Rather than pretend to be Warren Buffet picking bottoms I am an average investor “accumulating” the asset I want for the long term. I have been accumating gold, silver, BC and real estate…

— Robert Kiyosaki (@theRealKiyosaki) October 23, 2023

The investor’s latest take on investing comes as the Bitcoin price hovered above $34,000. The benchmark crypto asset is forecast to embark on a new bull market that could take its price to highs of $125k in 2024.

Currently, bulls are looking to retest resistance above $35k, with analysts saying investors could be watching for volatility amid an upcoming Fed meeting and the unfolding geo-political landscape.

The post Robert Kiyosaki picks gold and bitcoin over stocks and bonds appeared first on CoinJournal.

Polkadot (DOT) surges 8% with staking dashboard upgrade

Polkadot’s price experiences an 8% increase.
The surge is bolstered by the introduction of the Staking Dashboard 1.1.
The upgrade allows users the ability to view the 14-day activity of validators on the Polkadot network.

Polkadot (DOT) has once again made headlines with its impressive price movement in the crypto market. At the time of writing, each DOT is priced at $4.34, reflecting a 3.23% increase in the past 24 hours.

This surge in DOT price is attributed to the recent deployment of Polkadot’s Staking Dashboard 1.1, designed to enhance the user experience within the Polkadot ecosystem.

Polkadot’s resurgence

Over the past week, Polkadot has been among the best performers in the top 20 cryptocurrency rankings by market capitalization, with an 8% price gain during this period. This positive momentum underscores Polkadot’s readiness to retest the resistance point at $5 in the near term.

The surge in Polkadot’s price is not merely coincidental. It is closely tied to the introduction of the Polkadot Staking Dashboard 1.1, a critical upgrade in the Polkadot ecosystem that provides users with improved insights into the network’s validator activities and performance.

The Polkadot Staking Dashboard 1.1

The Polkadot Staking Dashboard 1.1, unveiled by Ross Bulat, an engineer with Parity Technologies offers Polkadot Stakers a more intuitive reporting system, making it easier for users to understand ongoing activities within the ecosystem.

1/ Polkadot Staking Dashboard 1.1 Is Now Live 🎉 This is a BIG release.
MetaMask support, new power-user features for managing nominations, configurable RPC endpoints, and a lot more, all in this thread.

Get ready to #StakeDOT at the next level. Let’s dive in🧵👇 pic.twitter.com/9HG3CdFj6Y

— Ross (@rossbulat) October 30, 2023

Among the features of this upgrade is the ability to view the 14-day activity of validators on the Polkadot network, along with their performance concerning the staker’s nominations. Light clients are now supported, and asynchronous synchronization is enabled, enhancing the overall user experience.

The dashboard also includes a ranking system that classifies validators based on their performance, allowing potential stakers to make informed decisions. To ensure maximum accuracy, the dashboard showcases the validator with the best performance by default.

This upgrade is designed to promote transparency and ease of use, ultimately encouraging greater participation in the Polkadot network and driving the recent surge in demand for DOT tokens. With high-profile partnerships and the increased accessibility provided by the Staking Dashboard 1.1, Polkadot appears poised for continued growth.

The post Polkadot (DOT) surges 8% with staking dashboard upgrade appeared first on CoinJournal.

UK publishes proposals on stablecoin regulation, outlines FCA’s regime

The HM Treasury today published a policy update to the country’s crypto regulation.
In it, the UK government has outlined the FCA’s regime in stablecoin regulation.
The Bank of England (BoE) and the Payment Systems Regulator (PSR) will also have a role.

The UK government has published a policy update outlining a phased regulation of fiat-backed stablecoins in the country.

In terms of regulating activities around stablecoins, the HM Treasury will focus on two areas – their use in payment chains and issuance and custody “in or from the UK.” The latter will be irrespective of a fiat-backed stablecoin’s uses, that’s whether for payments, as a settlement asset, or as a store of value.

FCA, BoE role in stablecoin regulation

In the publication, which was made public on Monday, the HM Treasury explains the expected regulatory regimes of the Financial Conduct Authority (FCA), the Bank of England (BoE) and the Payment Systems Regulator (PSR).

The regulatory landscape will bring certain (fiat-backed) stablecoins within the remit of the Bank of England, Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR), which altogether will aim to minimise potential for customer harm and mitigate the conduct, prudential, and financial stability risks arising from those stablecoins, particularly when used for payments,” the document reads in part.

The government expects the FCA, BoE and PSR to work within statutory objectives that align with the overall stablecoin regulation framework, with regulators coordinating for a clear approach.

While the HM Treasury secondary legislation via parliament will bring stablecoins within the FCA’s regulatory perimeter, there’s co-responsibility on the FCA and BoE to supervise a firm recognised as systemic.

In a scenario where an FCA authorised fiat-backed stablecoin firm is recognised as systemic by HM Treasury, and so should be supervised by the Bank of England, the government expects that the Bank of England should act as the lead prudential regulator and be able to supervise such an entity through Part 5 of the Banking Act 2009, while the firm continues to also be regulated by the FCA for conduct,” the document states.

UK’s legislation on crypto is set for 2024, after the Financial Services and Markets Act 2023 passed into law in June to allow for the treatment of crypto as a regulated activity. The latest policy update looks to prepare the various government agencies and regulators for this.

The post UK publishes proposals on stablecoin regulation, outlines FCA’s regime appeared first on CoinJournal.

Bitget becomes one of the first exchanges to list Celestia (TIA)

Victoria, Seychelles, October 30th, 2023, Chainwire

Bitget, a leading cryptocurrency derivatives and copy trading platform, is thrilled to announce to be one of the first centralized exchanges to list TIA, the native cryptocurrency of Celestia’s groundbreaking blockchain ecosystem. This strategic listing of Celestia’s token on Bitget opens up new avenues for users to explore the limitless potential of modular blockchains and experience the benefits of data availability and roll-up technology in a timely manner.

TIA token, the lifeblood of Celestia’s ecosystem, will be available for trading on Bitget’s secure and user-friendly platform starting late October or early November. This listing marks a significant milestone for both Bitget and Celestia, as it brings together two innovative communities in the blockchain industry to drive mass adoption and foster collaboration among them.

Celestia’s groundbreaking blockchain ecosystem has garnered support from prominent investors, including Binance Labs, Interchain Foundation, Bain Capital Crypto, Polychain Capital, Coinbase Ventures, Jump Crypto, Placeholder, and many others. These investments made by industry-leading players further validate Celestia’s innovative approach and highlight the immense potential of its modular blockchain design.

Gracy Chen, Managing Director at Bitget, expressed her excitement about the listing, “We are thrilled to list TIA token as one of the first centralized exchanges and provide our users with priority access to Celestia’s revolutionary blockchain ecosystem. Celestia’s modular approach and focus on data availability and rollups align perfectly with our vision of empowering users with cutting-edge technologies. This listing reaffirms our commitment to offering our users the most innovative and promising projects in the crypto space.”

Celestia’s modular blockchain design represents a paradigm shift in the industry, enabling specialized blockchains to optimize performance and scalability for specific functions.

With data availability at its core, Celestia ensures the security and transparency of transactions, allowing anyone to inspect the ledger and verify its integrity. The integration of rollups further enhances the ecosystem’s efficiency, as transaction data is published to Celestia and made available for users while benefiting from the platform’s robust security measures.

Bitget’s listing of TIA tokens reflects its dedication to providing its users with access to cutting-edge projects that have the potential to shape the future of blockchain technology. By expanding its portfolio to include Celestia’s ecosystem, Bitget continues to position itself as a leading exchange at the forefront of innovation.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and web3 company. Serving over 20 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.

For more information, visit:

Website
Twitter
Telegram
LinkedIn
Discord
Bitget Wallet

Contact

Rachel Cheung
media@bitget.com

The post Bitget becomes one of the first exchanges to list Celestia (TIA) appeared first on CoinJournal.

Tellor (TRB) price spikes 15% amid fresh whale activity

Tellor (TRB) price rose to highs of $119 on Monday as bulls looked to close in the green for the first time in four days.
TRB price could see a bullishish continuation as whales buy more tokens.
Tellor price is just 26% from its all-time-high of $164 reached in May 2021.

Tellor (TRB) price pumped early Monday as the market looked to continue the positive momentum that has catalysed recent gains for many altcoins.

According to market data from CoinGecko, TRB price was $117 at the time of writing, up 15% in the past 24 hours. The price surge comes as a bullish break from lows of $96 saw TRB soar past $110.

What is Tellor?

Tellor is a decentralised oracle network with smart contracts on Ethereum.  The protocol’s oracle feeds provide for a permissionless infrastructure for bringing valuable off-chain data to smart contracts. Data providers compete for incentives in TRB, while the platform overall benefits the decentralised finance (DeFi) ecosystem.

Tellor recently deployed on the Manta Pacific mainnet, adding its launch on the network to other EVM- compatible chains including Ethereum and Arbitrum. The oracle feed is also integrated with the Filecoin Virtual Machine.

Why is the Tellor (TRB) price rising today?

As can be seen in the chart below, TRB came close to hitting the $120 price level. This is the same price level that marked the point of last week’s rejection and the start of a four-day decline for the altcoin. Bulls are looking to decisively break the four-day red candle streak.

Tellor price chart. Source: TradingView

On-chain data sleuth Lookonchain has highlighted that TRB’s price gains today come amid new accumulation by whales. After buoying the uptick from lows of $41 earlier this month, whales are at it again. More than 27,400 TRB worth over $3.18 million have been moved from crypto exchange Binance in the last few hours, Lookonchain posted on X.

Whales accumulate $TRB again! 2 whales have withdrawn 27,405 $TRB ($3.18M) from #Binance in the past 5 hours. And the price of $TRB increased 15% today,” the account noted as Tellor pumped.

The trend was also observable last week as TRB price skyrocketed 28% and 31% on October 23 and October 25. 

2 fresh wallets withdrew 24,784 $TRB ($1.88M) from #OKX and #Binance ~10 mins ago.

A total of 7 fresh wallets have withdrawn 198,755 $TRB ($15.06M, 7.83% of the total supply) from exchanges in the past 3 days. pic.twitter.com/TKh2C9XnSc

— Lookonchain (@lookonchain) October 23, 2023

With whales showing continued confidence in the token, its likely TRB/USD could surge past its immediate resistance zone. The next supply wall may be at the all-time-high zone above $160. 

TRB price reached its ATH of $164 in May 2021, which means bulls are roughly 26% off the peak at current levels.

The post Tellor (TRB) price spikes 15% amid fresh whale activity appeared first on CoinJournal.

Thailand’s Kasikorn Bank acquires majority stake in Satang crypto exchange

Kasikorn Bank has acquired a 97% stake in Thailand-based cryptocurrency exchange Satang.
The bank’s deal is reportedly worth 3.705 billion Thai baht ($102.8 million).
Satang will rebrand to Orbix.

Kasikorn Bank, Thailand’s second largest bank, has reportedly acquired a 97% stake in Satang crypto exchange. The deal was completed via Kasikorn Bank’s subsidiary Unita Capital and involved 3.705 billion Thai baht ($102.8 million) worth of shares in Satang’s parent company.

Wu Blockchain highlighted the crypto news in a post on X on Monday, citing CoinDesk.

Thailand’s second biggest bank Kasikorn Bank has acquired 97% shares in the parent company of Satang crypto exchange. The deal has a valuation of 3.705 billion Thai baht ($102.8 million). K-Bank recently secured a crypto exchange license and launched a $100 million fund targeting…

— Wu Blockchain (@WuBlockchain) October 30, 2023

Satang to rebrand to Orbix

The Satang Corporation, founded in 2017 and one of the major digital asset exchanges in Thailand, offers trading for more than 45 cryptocurrencies. Details show that the platform’s customer base is over 1 million.

Per a local media report published early Monday, the deal’s completion will see Satang re-brand to Orbix, with three subsidiaries namely: Orbix Custodian, Orbix and Orbix Technology. 

Kasikorn, also known as K-Bank, recently received a crypto exchange operator license and has launched a $100 million fund for Web3, fintech, and artificial intelligence (AI).

K-Bank’s move sees it join other leading financial giants in Thailand in the push into the crypto ecosystem. These include Siam Commercial Bank (SCB) and Gulf, a local energy behemoth that recently partnered with Binance to expand the global crypto exchange’s services in the country.

The post Thailand’s Kasikorn Bank acquires majority stake in Satang crypto exchange appeared first on CoinJournal.

ADA/USD price forecast: bullish reversal as horizontal support holds

Cardano forms a bullish reversal pattern 
The Federal Reserve might signal the end of the tightening cycle
A move above $0.35 would trigger more strength

The week ahead is important for the US dollar as the Federal Reserve of the United States announces its interest rate decision on Wednesday. The market unanimously expects the Fed to hold the funds rate at the same level as six weeks ago, the second pause in the current tightening cycle.   

However the focus will not be on the actual decision. Instead, it will be on what the Fed will signal that will come next. 

More precisely, is the tightening cycle over? Can the Fed declare its fight against inflation over? 

Sure enough, inflation has dropped from its highs. Also, it continues to drop. 

If one can draw a parallel with Europe, then the Fed should prepare for inflation to drop even further. In Europe, the prices of goods and services have dropped drastically in October. Considering that the Fed and the ECB had similar tightening cycles, one may expect similar inflation trends. 

A dovish Fed would spark US dollar weakness and some markets already sniffed it. The cryptocurrency market is one example, where Bitcoin rallied to $35k recently, triggering similar moves in other cryptocurrencies such as Cardano.

ADA/USD bounced from horizontal support – how much can it rally?

One of the cryptocurrencies that anticipates a dovish Fed is Cardano. ADA/USD has rallied from horizontal support and is trying to break dynamic resistance. 

Cardano chart by TradingView

Cardano rallied with other cryptocurrencies at the start of the trading year but failed to hold onto its gains. However, it found strong support at $0.25, and then it bounced from the lows. 

The market formed a bullish reversal pattern that might represent the end of the bearish market. A move above $0.35 should trigger more strength, while a drop below the 2023 lows would invalidate the bullish reversal pattern. 

The post ADA/USD price forecast: bullish reversal as horizontal support holds appeared first on CoinJournal.


Verified by MonsterInsights