Recently deceased porn mogul Larry Flynt once said, “Hypocrisy is a detriment to progress.” His story may have something to offer crypto.
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Author: Daniel Kuhn
The studio’s flagship ventures fund increased in value from $14 million to $300 million.
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Author: Danny Nelson
Banks face a stablecoin conundrum: Build their own projects, with all the overhead that implies, or work with well-placed existing providers.
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Author: Rafael Cosman
With BTC setting a new record above $48K and Mastercard implementing crypto payments, CoinDesk’s Market Daily is back with the latest news roundup.
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Author: Adam B. Levine
Pantera and Lemniscap co-lead a bet on stability in DeFi without the U.S. dollar.
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Author: Brady Dale
Crypto exchange Kraken has launched a venture unit to invest in crypto and fintech startups.
The unit, Kraken Ventures, is targeting early-stage startups across verticals that include blockchain, crypto, decentralized finance (DeFi), and fintech.
“We felt this was the perfect time to launch Kraken Ventures because we are at an inflection point in both fintech and crypto, but still very early in the life cycle of both industries,” Brandon Gath, general partner of Kraken Ventures, told The Block.
The unit will invest globally, although a majority of its investments are expected to be in North America and Europe, said Gath. The average check size per startup will fall in the range between $250,000 and $3 million, he said, adding that the firm has the flexibility to invest outside of those ranges.
Kraken Ventures has “multiple investments” in its pipeline and plans to announce them “over the next couple of months,” said Gath.
The unit is being led by Gath, together with Kirill Gourov and Akshi Federici, senior leaders at Kraken. A fourth partner is expected to be added during the first half of this year.
Kraken rivals Coinbase and Binance both have dedicated venture units, Coinbase Ventures and Binance Labs, respectively.
© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Author: Yogita Khatri
A “cross-chain finality” bug has forced the network into “self-healing mode.”
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Author: William Foxley
Joseph Chase Oaks allegedly used SIM-swap hacks to access victim’s online accounts between August 2018 and October 2019.
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Author: Jamie Crawley
Quick Take
- S&P 500 firms are sitting on more than $1.3 trillion in cash.
- Firms including Genesis Global and Coinbase are trying to get them to join MicroStrategy, Square, and Tesla in buying bitcoin.
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Author: Frank Chaparro
Peirce also pushed back against an emerging government narrative that cryptocurrency is a dangerous rail for terrorist financing.
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Author: Danny Nelson
