Blockchain and Cryptocurrency News Roundup

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  • March 24, 2021
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24 March 2021.

Here’s a short summary of some of the biggest headlines in Crypto. Blockchain com raises $300M at $5.2B valuation, Scaramucci’s SkyBridge Capital applies for Bitcoin ETF, Theta Network’s token enters top 10 cryptos by market capitalization and Twitter CEO Jack Dorsey sells NFT tweet for $2.9M.

Blockchain com raises $300M at $5.2B valuation

Blockchain com has raised $300 million in a funding round that valued the company at $5.2 billion, 73% more than the company was deemed worth only a month ago, according to a published report.

The investment into the London-headquartered firm was led by DST Global, Lightspeed Venture Partners and VY Capital, the WSJ reported Wednesday. The news comes a month after the raising of $120 million in a round led by Google Ventures. In that round the company was valued at $3 billion. The deal is a sign that venture capital firms are once again diving into the crypto space, the report noted. Blockchain com offers wallets, trading and numerous other crypto-related services to its 31 million customers. The company claims to have over 70 million wallets across over 200 different countries.


Scaramucci’s SkyBridge Capital applies for Bitcoin ETF 

Despite the temporary setback, Bitcoin continues to gain traction. Recently, many companies and exchanges have filed for Bitcoin ETFs. Although one has yet to be approved in the US, there are currently three newly launched Bitcoin ETFs in Canada. The first was launched by Purpose, the second by Evolve, and the third by CI Galaxy. The Bitcoin ETFs were a success, as Purpose’s Bitcoin exchange-traded fund gained $421 million in assets under management in just the first two days of launch.

The approval of Canadian-based Bitcoin ETFs has led many to wonder when the United States Securities and Exchange Commission (SEC) will approve one of its own. Currently, Anthony Scaramucci’s hedge fund, SkyBridge Capital, has tried its luck by filing a request with the SEC for a Bitcoin ETF.

Should SkyBridge receive the Securities and Exchange Commission’s blessing, its Bitcoin ETF will become the first of its kind to be approved in the United States and pave the way for future Bitcoin ETF applications.

The addition will expand the list of Bitcoin products SkyBridge currently has to offer. Currently, the hedge fund founded by former White House Communications Direction Scaramucci has a Bitcoin Fund, which demands a buy-in of at least $50,000. The Bitcoin Fund grew rapidly to a size of $370 million within weeks of its launch in December 2020.

Theta Network’s token enters top 10 cryptos by market capitalization

THETA, the native token of the Theta Network — a decentralized blockchain-based video delivery network — has entered the top 10 cryptocurrencies by market capitalization.On Tuesday, THETA overtook Chainlink’s LINK as the 10th biggest cryptocurrency by market cap at nearly $11.5 billion, according to data from CoinGecko. At publishing time, LINK’s market cap amounted to $11.2 billion.

THETA has seen huge growth recently, gaining 70% over the past seven days and hitting new historical highs. The token is trading at $11.80, up 17% over the past 24 hours as of publishing time, according to data from CoinGecko. The coin has seen consistent growth in 2021, even outperforming Bitcoin’s (BTC) late-2020 rally.

The new all-time highs for THETA come shortly after Theta Labs secured its second patent on designs for decentralized blockchain-based video and data delivery from the United States Patent and Trademark Office on March 16. Earlier in March, Theta Labs released an open-source code for the Theta protocol version 2.2.0 on its GitHub.

As previously reported by Cointelegraph, the Theta Network has been actively growing its validator program, attracting collaboration with Fortune Global 500 firms like Google, Samsung and Sony, as well as major industry firms like Binance, and Gumi. Theta Labs was founded in 2017 as a subsidiary of virtual reality livestreaming company


Twitter CEO Jack Dorsey sells NFT tweet for $2.9M

Jack Dorsey, CEO of social media platform Twitter and payments company Square, has sold a non-fungible token (NFT) representing his first-ever tweet for $2.9 million. Dorsey put the tweet—which reads “just setting up my twttr,” and was initially published on March 21, 2006—on sale via tweet-to-NFT marketplace Valuables. The platform allows users to auction off their tweets as NFTs.

“The tweet itself will continue to live on Twitter. What you are purchasing is a digital certificate of the tweet, unique because it has been signed and verified by the creator,” the platform explained.

The buyer was Sina Estavi, CEO of Bridge Oracle—a public oracle system based on the Tron Network. Notably, Tron founder Justin Sun lost out in the auction, placing a bid of $2 million. Sun has placed bids in a number of high-profile NFT auctions recently, narrowly losing to Vignesh “Metakovan” Sundaresan in Christie’s record-breaking auction for a digital artwork by crypto artist Mike Winkelmann, aka Beeple.

Dorsey has announced that he will immediately turn all the proceeds from his NFT auction into Bitcoin and donate them to a charity called GiveDirectly.


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