In a Wednesday announcement, iTrustCapital said it had completed a $125 million Series A growth equity investment led by New York-based VC firm Left Lane Capital. The company said it planned to use the funds for expanding its existing product and service line in addition to exploring strategic acquisitions.Continue Reading on Coin Telegraph More
Microsoft Pushes Deeper into the Metaverse with Activision Blizzard Purchase, Animoca Brands Raises $360 MillionJoining the slew of companies jumping into the metaverse, Microsoft has announced the $68.7 billion acquisition of Activision Blizzard – an American video game holding company.Microsoft explained that the acquisition will accelerate its involvement in the gaming industry across all mobile, PC, console, and cloud platforms. Microsoft added that the deal will also provide the building blocks for its entry into the metaverse.In other news from the virtual world, metaverse gaming company Animoca Brands has announced the completion of a $360 million funding round. The round was led by Liberty City Ventures.According to Crunchbase, the metaverse company has now raised an estimated $604 million. The latest funding round has pushed the valuation of Animoca Brands to above $5 billion – three times more than it was valued in October 2021.Flipsider:Why You Should CareMicrosoft joins a growing list of companies pouring billions into the metaverse to see that it becomes a reality.
Coinbase and Mastercard Enter into NFT Partnership, OpenSea Acquires Dharma LabsAs it builds its NFT marketplace, leading crypto exchange Coinbase has announced a partnership with Mastercard. According to Coinbase, the partnership is intended to reduce friction in the NFT buying process.As a result of the partnership, Coinbase users will be able to use Mastercard credit and debit cards to make purchases on the crypto company’s upcoming NFT marketplace.To improve its NFT services, leading NFT marketplace OpenSea announced the purchase of Dharma Labs, a crypto wallet and lending platform. OpenSea is looking to improve the experience of buying, minting, and selling NFTs on its marketplace.As part of the acquisition, Dharma Labs will shut down its operations and be integrated directly into OpenSea. With Dharma allowing users to deposit fiat in order to trade on Uniswap. this has given rise to rumors that OpenSea could explore fiat for NFT purchases.Flipsider:Why You Should CareCoinbase and OpenSea are exploring ways of getting more people safely and securely involved with the growth of the NFT sector.
Ethereum Whale Buys MATIC Worth $17 Million Following EIP-1559 UpgradeSince December, reports have emerged about the largest Ethereum whales acquiring Polygon (MATIC). However, more such investors have turned to the Layer-2 scaling solution since EIP-1559 was implemented on the Polygon Mainnet.The EIP-1559 introduced a token burn protocol to Polygon (MATIC). With MATIC being a fixed supply token, reducing the number of tokens in circulation is intended to create a deflationary model, which is predicted to positively affect MATIC.According to on-chain data, the 157th biggest Ethereum whale has snapped up a total of 7,483,202 MATIC, valued at $17,396,711 across seven different transactions. The 24 hour price chart for MATIC. Source: TradingviewFlipsider:Why You Should CareWith its success in 2021, more people have turned to the Layer-2 scaling solution, with MATIC’s value predicted to gain by even more in 2022.
Intel Is Preparing to Launch an ‘Ultra Low-Voltage Bitcoin Mining ASIC’Intel, one of the world’s largest computer chip makers, is reportedly planning to enter the crypto and Bitcoin mining hardware market in February. According to reports, the microchip giant has developed an “ultra low-voltage energy efficient Bitcoin mining ASIC.”With Intel preparing to unveil its “Bonanza Mine” processor at the International Solid-State Circuits Conference (ISSCC) commencing on February 23rd, many have suggested that the new mining chip could be announced alongside.ASIC chips have been widely used in the mining of cryptocurrency because they are particularly suited to the number-crunching involved. Launching an ASIC will pit Intel directly against Bitmain and MicroBT in the market of specialized ASICs for Bitcoin mining.Flipsider:Why You Should CareIntel is looking to claim a share in the crypto mining hardware market, the rise of which has driven up demand and prices for GPUs.EMAIL NEWSLETTERJoin to get the flipside of cryptoUpgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.[contact-form-7]
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To enforce its new regulation, the Monetary Authority of Singapore (MAS) allegedly decided to close crypto ATM services in the country on Tuesday. In addition to this, the regulators aim to strictly regulate how companies promote and hype crypto advertisements mainly in Singapore. Meanwhile, before the announcement, the Central Bank released a guideline that bans crypto advertising services in public places, websites, and social networks. The news brought a mixture of reactions among crypto ATM operators that offer their services in Singapore. Apart from ATM operators, crypto traders’ reactions and interest show that they’re also surprised by the news.Additionally, Daenerys & Co commented that the news took them by surprise. Many crypto ATM operators including Deodi switched off their services prior to the announcement. Regardless of everything, Singapore has established a good reputation when it comes to crypto-friendly countries. Now, people keep doubting whether Singapore is gradually becoming unfriendly to crypto these days or not.On the other hand, the news came a few days after Britain announced its initiative to crack down on the hyped and promotional crypto advertisements in the country. Lastly, there seems to be a huge speculation about countries that plan to ban crypto advertisements nowadays.Continue reading on CoinQuora More
Decentralized betting protocol Azuro has officially closed its seed round funding amounting to $3.5 million. This successful raising of funds is made possible with the help of true value adds on the venture and the strategic partner side.The investors that participated in the seed round event of Azuro which are now partners of the network includes, Gnosis, Flow Ventures, Polymorphic Capital, who lead the round, and Ethereal Ventures, Arrington XRP Capital, AllianceDAO (a.k.a. DeFi Alliance), Delphi Digital, Meta Cartel Ventures, Merit Circle and Clever Advertising (a top 3 global sports betting media).These groups of companies that put their trust in the platform are also experienced in the field of traditional betting infrastructure, sportsbetting lead generation and web3, GameFI, DeFi, and blockchain infrastructure. Ricardo Pinto (Clever Advertising) said,On the other hand, the betting markets on Azuro are created by importing odds (via oracles) for events in the real world, live betting data. This enables sports, events and markets that are related to them to get started with competitive odds. Tommy Quite (Merit Circle) explained,Continue reading on CoinQuora More
In brief, Bitcoin institutional outflows were negative four out of the last five weeks, totaling $55 milion. The total assets under management fell to a three-month low of $35 billion midweek last week. Continue Reading on Coin Telegraph More
The growth of the digital economy at a global level and the effects left by the covid-19 pandemic in the last two years, produced a 151% increase in cyber attacks, according to a study carried out by the World Economic Forum (WEF).The WEF report called The Global Cybersecurity Outlook 2022 detailed that in 2021 an average of 270 cyberattacks were registered for each organization, which meant a 31% increase compared to 2020.The cost of these attacks to companies was $3.6 million, as they were forced to increase their spending on protection services. But for small and medium-sized companies this cost was higher, due to their financial vulnerability and lack of resources.Approximately 80% of ransomware or malicious software attacks affected public security, according to the annual report “The Global Cybersecurity Outlook 2022”.”The accelerated pace of digitization, fueled by Covid-19, turned out to be a new annual record for cybercrime”, highlighted the WEF.
For 80% of the cybersecurity leaders consulted, malicious software represents a danger and a threat to public safety. However, there is a wide gap between what business executives believe and what cybersecurity leaders think.92% of business executives say they are prepared to face these attacks, but only 55% of cybersecurity experts think so. Such differences of opinion on such a high-priority matter can leave companies highly vulnerable to future cyberattacks, the study warns.On the FlipsideOrganizations can take up to 280 days on average to resolve a cyberattack, the report points out. That means that they will spend most of the year trying to find the flaw and adopting a proper protection shield to prevent further attacks.“Companies must now embrace cyber resilience – not only defending against cyberattacks but also preparing for swift and timely incident response and recovery when an attack does occur,” said World Economic Forum Managing Director Jeremy Jurgens.
For her part, Julie Sweet, president and CEO of Accenture (NYSE:ACN) who collaborated in conducting the survey, highlighted the importance of cybersecurity for “all organizations at all levels”.She also commented that:“Organizations need to work more closely with ecosystem partners and other third parties to make cybersecurity part of an organization’s ecosystem DNA, so they can be resilient and promote customer trust.”
And she added:“This report underscores key challenges leaders face – collaborating with ecosystem partners and retaining and recruiting talent”.
The annual Global Cybersecurity Outlook 2022 report was written using data collected from the survey of global cyber leaders. Also with information from the Cyber Outlook Series sessions carried out by the WEF during 2021. As well as interviews with experts in the area and other data from the agency’s reports and investigations.Why You Should CareEMAIL NEWSLETTERJoin to get the flipside of cryptoUpgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.[contact-form-7]
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As the year wound up, multiple reports from WhaleStats emerged that some of the biggest Ethereum whales were acquiring Polygon (MATIC) in large quantities. According to WhaleStats, as of January 12, the average MATIC purchase among the top 1000 ETH whales was approximately $530,000.More Ethereum Whales are Turning to Polygon (MATIC)New on-chain data now shows that Ethereum whales have returned to snapping up huge amounts of MATIC tokens. The report comes after the layer-2 scaling solution implemented the EIP-1559 upgrade on its Mainnet.The EIP-1559 has introduced a token burn protocol to Polygon (MATIC). With MATIC being a fixed supply token, reducing the number of tokens in circulation will create a deflationary model, predicted to positively affect MATIC.According to on-chain data, the 157th biggest whale of Ethereum has snapped up a total of 7,483,202 MATIC, valued at $17.4 million in seven different transactions. The purchases started after the upgrade was implemented.According to the on-chain data tracker, WhaleStats, Polygon (MATIC) is the most traded crypto over the last 24 hours. The 24 hours price chart of MATIC. Source: TradingviewOn the FlipsideWhy You Should CareWith its success in 2021, more people have turned to the layer-2 scaling solution, as MATIC is predicted to gain even more in 2022.EMAIL NEWSLETTERJoin to get the flipside of cryptoUpgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.[contact-form-7]
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As announced in October 2021, BIT Mining is constructing a data center in Ohio (“Ohio Mining Site”), with a total planned power capacity of up to 150MW. As the data center’s power capacity continues to scale, the Company is not only conducting self-mining operations, but is also hosting third-party miners.Xianfeng Yang, CEO of BIT Mining, commented,”Our Ohio Mining Site continues to grow, and we are making progress in its buildout and in securing mining machines, despite ongoing industrywide supply-side constraints. 50MW is our first notable milestone, but this is only the beginning. We intend to reach our goals of extending our footprint and creating strong industry partnerships. As we continue to grow our computing power, we are also focused on creating a technology-driven diversified enterprise, capable of generating revenue along the cryptocurrency value chain.”
The Company also announced further operational updates, as of today the Company has:– 532.8 PH/s theoretical maximum Bitcoin computing power in North America, of which 344.7 PH/s has been deployed. Additional machines are waiting to be tested and deployed.– 292.7 PH/s theoretical maximum Bitcoin computing power in Kazakhstan,of which 146.8 PH/s has been deployed. Additional machines are waiting to be tested and deployed.– 4,800.0 GH/s theoretical maximum Ethereum computing power in Hong Kong,of which 4,747.2 GH/s has been deployed. Additional machines are waiting to be tested and deployed.– Approximately 491.5 PH/s Bitcoin computing power in aggregate with estimated daily production of approximately 2.56 BTC.– Approximately 4,747.2 GH/s Ethereum computing power in aggregate with estimated daily production of approximately 72.29 ETH.Mr. Yang concluded,”We continue to execute on our strategy and have aggressive plans to scale throughout 2022. Our ability to source mining machines and gain access to the best technology has been, and will continue to be the primary driver of our success. We are confident that the continued diversification of our business and integration of new ventures will make us well positioned to drive stakeholders’ value.”EMAIL NEWSLETTERJoin to get the flipside of cryptoUpgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.[contact-form-7]
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