Crypto bank Sygnum hits unicorn status with new $58M raise
Fulgur Ventures, a leading investor in the recent successful funding round of Sygnum, has a reputation for supporting prominent players in the blockchain industry such as Blockstream. With their latest investment in Sygnum, Fulgur Ventures has once again demonstrated their commitment to driving innovation and growth in the digital asset space.
Sygnum, a Swiss-based digital asset bank, has recently announced the completion of its strategic growth round, with Fulgur Ventures as one of its cornerstone investors. This round has raised a total of $30 million, which will be used to further develop Sygnum’s digital asset banking services and expand its global presence.
Fulgur Ventures’ decision to invest in Sygnum is a testament to the bank’s strong track record and potential for future growth. Sygnum has established itself as a pioneer in the digital asset banking sector, offering a wide range of services including custody, trading, and lending for cryptocurrencies and other digital assets. The bank has also obtained a Swiss banking and securities dealer license, making it one of the first digital asset banks to be fully regulated.
In addition to their investment in Sygnum, Fulgur Ventures has a history of backing successful industry platforms such as Blockstream, a leading provider of blockchain technologies. This further solidifies their expertise and understanding of the blockchain space, making them a valuable partner for Sygnum’s growth and development.
With the support of Fulgur Ventures and other prominent investors, Sygnum is well-positioned to continue its expansion and drive innovation in the digital asset banking sector. As the demand for digital asset services continues to grow, Sygnum’s comprehensive and regulated offerings make it a key player in the industry. This latest funding round marks an important milestone for Sygnum and the digital asset space as a whole, and we can expect to see even more exciting developments from this dynamic partnership in the future.
Semler Scientific buys another $23M in Bitcoin
In a bold move towards embracing the future of finance, the company has announced its acquisition of over $192 million worth of Bitcoin. This significant investment not only showcases the company’s confidence in the leading cryptocurrency, but also positions them as a major player in the ever-evolving digital asset space.
With this move, the company is not only diversifying its portfolio, but also tapping into the potential for significant returns. In fact, they proudly boast a “Bitcoin yield” of over 99%, a testament to the strength and stability of this digital asset.
This decision to invest in Bitcoin is a strategic one, as the cryptocurrency continues to gain mainstream acceptance and adoption. With its limited supply and decentralized nature, Bitcoin has proven to be a valuable asset for both individuals and institutions alike. And with the recent surge in its value, it’s no surprise that more and more companies are jumping on the Bitcoin bandwagon.
But this move is not just about financial gain. It also speaks to the company’s forward-thinking mindset and willingness to embrace innovation. By investing in Bitcoin, they are not only securing their financial future, but also positioning themselves as a leader in the ever-evolving world of digital assets.
This news has already caused a stir in the financial world, with many experts predicting that more companies will follow suit and invest in Bitcoin. As the cryptocurrency market continues to mature and gain mainstream acceptance, we can expect to see more traditional companies diversifying their portfolios with digital assets.
In conclusion, this bold move by the company not only showcases their confidence in Bitcoin, but also highlights the growing importance of digital assets in the world of finance. With a “Bitcoin yield” of over 99%, this investment is sure to bring significant returns and solidify the company’s position as a forward-thinking and innovative player in the financial industry.
Kenya drafts legislation to regulate cryptocurrencies
Kenya is taking a step towards regulating the use of cryptocurrencies in the country. The government has released a draft proposal for a new legislation that aims to provide a legal framework for the use and trading of digital currencies. This move comes as a response to the growing popularity and adoption of cryptocurrencies in Kenya.
The draft proposal, which is open for public feedback until January 24th, outlines the government’s plans to regulate the use of cryptocurrencies in the country. It includes measures to prevent money laundering and terrorist financing, as well as protect consumers from fraud and scams.
One of the key aspects of the proposed legislation is the creation of a regulatory body, the Digital Asset Regulatory Authority (DARA), which will oversee the use and trading of cryptocurrencies in Kenya. DARA will be responsible for issuing licenses to cryptocurrency exchanges and other service providers, as well as enforcing compliance with the regulations.
The move to regulate cryptocurrencies in Kenya is a significant step towards legitimizing the use of digital currencies in the country. Currently, there is no specific legislation governing the use of cryptocurrencies, which has led to uncertainty and potential risks for users. With the new regulations in place, individuals and businesses will have a clear understanding of the legal framework surrounding cryptocurrencies, making it easier for them to participate in this emerging market.
The proposed legislation also aims to promote innovation and growth in the cryptocurrency industry in Kenya. By providing a clear regulatory framework, the government hopes to attract more investors and businesses to the country, creating new job opportunities and boosting the economy.
However, the draft proposal has received mixed reactions from the public, with some expressing concerns about the potential restrictions and limitations on the use of cryptocurrencies. Others have welcomed the move, seeing it as a positive step towards embracing new technologies and promoting financial inclusion in the country.
Overall, the proposed legislation marks a significant development in the regulation of cryptocurrencies in Kenya. With the public feedback period open until January 24th, it is an opportunity for individuals and businesses to have their say and shape the future of digital currencies in the country.
US Bitcoin reserve would have ‘profound’ impact on adoption: CoinShares
The recent passage of the Bitcoin Act has sparked excitement and speculation within the cryptocurrency industry. This groundbreaking legislation, which officially recognizes Bitcoin as a legal form of currency, has the potential to significantly impact the value and adoption of the world’s most popular cryptocurrency.
According to industry executives, the Bitcoin Act could pave the way for BTC’s price to soar past $1 million per coin. This bold prediction is based on the belief that the legislation will bring about increased mainstream acceptance and usage of Bitcoin, leading to a surge in demand and ultimately driving up its value.
But what exactly does the Bitcoin Act entail? Essentially, it provides a clear legal framework for the use and trading of Bitcoin, giving individuals and businesses the confidence and security they need to fully embrace this digital currency. This is a major step forward for Bitcoin, which has long faced skepticism and regulatory challenges.
The passage of the Bitcoin Act is also seen as a major win for the cryptocurrency community, as it further legitimizes and solidifies Bitcoin’s role in the global financial landscape. With more and more companies and institutions starting to accept Bitcoin as a form of payment, the potential for widespread adoption and use is greater than ever before.
Of course, there are still some skeptics who question whether Bitcoin can truly reach such lofty heights. However, with the backing of the Bitcoin Act and the growing interest and investment in the cryptocurrency, it’s clear that the future is bright for Bitcoin.
In conclusion, the Bitcoin Act’s passage is a significant milestone for the cryptocurrency industry and has the potential to propel BTC’s price to unprecedented levels. As we continue to witness the evolution and growth of Bitcoin, it’s clear that this digital currency is here to stay and has the potential to revolutionize the way we think about money.
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Bitcoin ATH doesn’t mean the maximalists are right
Bitcoin has been making headlines recently with its record-breaking all-time highs. Many people are quick to jump on the bandwagon and proclaim that this is proof of the superiority of Bitcoin and the downfall of all other cryptocurrencies. However, this maximalist view is not only narrow-minded, but it also fails to take into account the bigger picture.
Firstly, let’s address the elephant in the room – Bitcoin’s price. Yes, it has reached unprecedented levels, but this does not automatically mean that it is the only cryptocurrency worth investing in. In fact, it is important to remember that Bitcoin’s price is heavily influenced by market speculation and hype, rather than its actual utility and adoption. This means that its value can fluctuate greatly and is not a reliable indicator of its long-term success.
Furthermore, the cryptocurrency market is constantly evolving and new technologies and projects are emerging all the time. To dismiss all other cryptocurrencies as inferior to Bitcoin is to ignore the potential of these innovations. It is important to have a balanced approach and consider the unique features and use cases of each cryptocurrency, rather than blindly following the maximalist narrative.
Moreover, the success of Bitcoin does not necessarily mean the failure of other cryptocurrencies. In fact, the rise of Bitcoin has brought more attention and interest to the entire cryptocurrency market, leading to increased adoption and growth for all cryptocurrencies. This is a positive development for the industry as a whole and should be celebrated, rather than used to fuel divisive maximalist views.
In conclusion, while Bitcoin’s all-time highs are certainly impressive, they do not validate the maximalist perspective. A more nuanced and open-minded approach is needed to truly understand and appreciate the potential of the entire cryptocurrency market. So let’s embrace diversity and continue to explore and support the various projects and technologies that make up this exciting and ever-evolving industry.
Hacks and scams stole $3B from crypto activities in 2024 — PeckShield
In the fast-paced world of cryptocurrency, security is a top concern for investors and traders alike. With the rise of digital currencies, there has also been an increase in cyber attacks and scams targeting these assets. In fact, a recent report by a leading security firm revealed that hacks accounted for over 70% of crypto losses due to illicit activities in 2024, while scams made up the remaining 30%.
This alarming statistic highlights the need for heightened security measures in the crypto space. As more and more people turn to digital currencies as a means of investment and payment, it is crucial for individuals and companies to take necessary precautions to protect their assets.
One of the main reasons for the high percentage of losses due to hacks is the decentralized nature of cryptocurrencies. Unlike traditional financial systems, there is no central authority or institution to oversee and regulate transactions. This makes it easier for hackers to exploit vulnerabilities and steal funds.
However, it’s not just hacks that pose a threat to the crypto community. Scams, such as fake ICOs and phishing schemes, also continue to be a major concern. These fraudulent activities not only result in financial losses but also damage the reputation of the entire industry.
To combat these threats, it is essential for individuals and businesses to educate themselves on best practices for securing their crypto assets. This includes using strong passwords, enabling two-factor authentication, and storing funds in cold wallets. Additionally, staying informed about the latest scams and being cautious when investing in new projects can also help mitigate risks.
As the crypto market continues to grow and evolve, it is crucial for all stakeholders to prioritize security. By taking proactive measures and staying vigilant, we can create a safer and more secure environment for the future of digital currencies.
Starknet launches SN Stack, allowing developers to build custom chains
Zero-knowledge technology has been making waves in the world of cryptocurrency, offering a unique solution to two major challenges: scalability and security. This innovative approach allows for the efficient scaling of cryptocurrencies while also providing quantum-resistant security measures.
So, what exactly is zero-knowledge technology? In simple terms, it is a method of verifying information without revealing any of the underlying data. This means that transactions can be validated without disclosing any sensitive information, such as the amount being transferred or the identities of the parties involved. This not only protects user privacy but also makes it nearly impossible for hackers to access and manipulate the data.
One of the main benefits of zero-knowledge technology is its ability to improve scalability. As the popularity of cryptocurrencies continues to grow, the demand for faster and more efficient transactions has become increasingly important. With zero-knowledge technology, transactions can be processed and verified at a much faster rate, allowing for a higher volume of transactions to be completed in a shorter amount of time.
But perhaps the most impressive aspect of zero-knowledge technology is its quantum-resistant security. As quantum computing becomes more advanced, traditional encryption methods used by cryptocurrencies may become vulnerable to attacks. However, zero-knowledge technology utilizes advanced mathematical algorithms that are resistant to quantum computing, ensuring that cryptocurrencies remain secure and protected.
This technology has already been implemented by several cryptocurrencies, including Zcash and Monero, and has proven to be successful in improving scalability and security. As the demand for faster and more secure transactions continues to grow, it is likely that we will see more cryptocurrencies adopting zero-knowledge technology in the future.
In conclusion, zero-knowledge technology is a game-changing innovation in the world of cryptocurrency. It offers a solution to two major challenges and has the potential to revolutionize the way transactions are processed and secured. As the technology continues to evolve and improve, we can expect to see even more advancements in the world of cryptocurrency.
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Why is XRP price down today?
XRP, the native cryptocurrency of the Ripple network, has been facing a downward trend in its price today. As of writing, XRP is down by 5%, trading at $0.50 per coin. This decline in price can be attributed to a combination of onchain metrics and a weakening technical setup, which are signaling a bearish outlook for the altcoin.
One of the key onchain metrics that is contributing to the bearish sentiment around XRP is the decrease in daily active addresses. This metric measures the number of unique addresses that are actively transacting on the network. According to data from Glassnode, the number of daily active addresses for XRP has been steadily declining since the beginning of the year, indicating a decrease in network activity and potentially a lack of interest from investors.
In addition, the technical setup for XRP is also showing signs of weakness. The altcoin has been trading below its 200-day moving average for the past few weeks, which is a bearish signal for traders. Furthermore, the Relative Strength Index (RSI), a popular technical indicator, is also showing a bearish divergence, suggesting that the selling pressure may continue in the near future.
Despite these bearish signals, some analysts believe that XRP may still have some potential for a rebound. The altcoin has been consolidating in a range between $0.50 and $0.60 for the past few weeks, and if it can break out of this range, it could potentially see a bullish rally. However, this would require a strong catalyst, such as a positive news announcement or a market-wide uptrend.
In conclusion, XRP is currently facing a bearish outlook due to a combination of onchain metrics and technical indicators. However, there is still a possibility for a rebound if the altcoin can break out of its current consolidation range. As always, investors should do their own research and consider the risks before making any investment decisions.