According to CoinDesk, the new digital asset investment firm Canary Capital Group filed an S-1 application with the U.S. Securities and Exchange Commission (SEC) on Tuesday to launch the Canary Litecoin (Litecoin) ETF. The S-1 filing is a required document for a company to issue new securities and list them on a public stock exchange, which is one of the two documents required to launch an exchange-traded product (the other being the 19b-4 filing). Canary Capital Group was founded by Steven McClurg, a former co-founder of Valkyrie Funds, and was established just about a month ago, having filed an XRP fund application with the SEC a week ago.
According to The Block, Grayscale Investments filed an application with the U.S. Securities and Exchange Commission on Tuesday to convert its mixed crypto fund containing Bitcoin, Ethereum, Solana, XRP and Avalanche into an exchange-traded fund (ETF). The company had previously converted its Bitcoin and Ethereum funds into ETFs. According to the company's website, Grayscale's crypto-based financial instrument, its Digital Large Cap Fund, trading under the ticker GDLC, is currently traded over-the-counter and has $524 million in assets under management. The fund is primarily composed of Bitcoin, accounting for nearly 75%, followed by Ethereum at around 19%. The remaining portion is composed of SOL, XRP and AVAX according to the company's filings.
According to CoinDesk, Ripple Labs has announced the exchange and market maker partners for its upcoming US dollar-pegged stablecoin RLUSD, and is awaiting regulatory approval from the New York Department of Financial Services (NYDFS). Ripple has partnered with crypto exchanges such as Bitstamp, Bitso, and Bullish, while Keyrock and B2C2 will serve as market makers for RLUSD. Ripple Labs president Monica Long stated that RLUSD will serve as an important bridge for payments and real-world asset tokenization, and will be backed by short-term US Treasuries, US dollar deposits, and cash equivalents. RLUSD is planned to be tested on the XRP Ledger and Ethereum network, and is expected to be launched in the near future.
BitMEX co-founder Arthur Hayes stated in his latest article that, due to geopolitical risks, he has prepared for a significant devaluation of his holdings and has significantly reduced his positions in MEME coins he had previously purchased. The only MEME coin he currently holds is SCF. Arthur also stated that he has not yet instructed Maelstrom's investment manager Akshat to slow down or stop the deployment of funds into pre-sale token trades. For Maelstrom's idle fiat currency, he will be staking it on Ethena to earn substantial interest income while waiting for opportunities to buy various illiquid cryptocurrencies.
Kraken supports its users to re-stake ETH on EigenLayer
According to Decrypt, the crypto exchange Kraken announced in a statement on Tuesday that its users can now re-stake ETH on the Ethereum network and earn additional rewards through projects on EigenLayer. This new feature aims to expand the channels for investors to earn on-chain returns and make "it easier for a broader set of clients to participate in re-staking". Kraken's Staked will serve as the ETH re-staking validator, and participating users can hold their rewards on Kraken or convert them to fiat or other cryptocurrencies.
According to Decrypt, asset tokenization company Securitize has announced the launch of a conversion service between its own tokens and Circle's USDC stablecoin, applicable to BlackRock's (Blackrock) USD Institutional Digital Liquidity Fund (BUIDL). This move aims to reduce investment costs and simplify the subscription process for traditional financial investors to participate in BUIDL. Securitize collaborated with BlackRock to issue BUIDL tokens on the Ethereum blockchain. Zero Hash, a blockchain infrastructure company, will be responsible for the conversion service between US dollars and digital assets. The BUIDL fund currently has an estimated value of $550 million and allows institutional investors to invest in secure assets such as US Treasuries through the purchase of tokenized shares, enjoying benefits such as instant settlement and enhanced liquidity.
SingularityDAO plans to merge with Cogito Finance and SelfKey to form an AI-centric Layer-2 network
According to CoinDesk, SingularityDAO, Cogito Finance and SelfKey plan to merge and form a new project called Singularity Finance (SFI), which will focus on the tokenization of the AI economy. The new entity will provide a Layer-2 network for tokenizing assets (such as GPUs) and offering AI-driven financial tools. This merger will convert SelfKey's existing KEY token into SFI, while SingularityDAO's SDAO and Cogito's CGV tokens will be merged into SFI at ratios of 1:80.353 and 1:10.89 respectively. This process may be adjusted based on discussions with stakeholders. Previously, SingularityNET completed similar mergers with AI projects such as Fetch.ai and Ocean Protocol in June.
Blockchain game developer Azra Games raises $42 million in Series A funding led by Pantera Capital
Blockchain-based video game development company Azra Games announced the completion of a $42 million Series A funding round, led by Pantera Capital, bringing the total amount raised to $68.3 million. Azra Games was founded in 2022 by veteran game designer Mark Otero, who previously worked on the popular game "Star Wars: Galaxy of Heroes". Azra plans to develop a high-quality role-playing game called "Project Legends", which will integrate NFT and blockchain technology, and drive the development of the fourth-generation RPG games, with a focus on mobile devices for the initial launch.
Blockstream completes $210 million convertible bond financing led by Fulgur Ventures
According to The Block, Bitcoin infrastructure development company Blockstream has announced the completion of a $210 million convertible bond financing round, led by Fulgur Ventures. Blockstream plans to use the funds to accelerate the market application of its Layer 2 technologies, expand its Bitcoin mining business, and strengthen its Bitcoin reserves. Blockstream's Layer 2 solutions include the Liquid Network and Core Lightning, aimed at improving the speed and cost-efficiency of Bitcoin transactions. Additionally, Blockstream intends to leverage the asset tokenization potential of the Bitcoin ecosystem to develop Liquid into an infrastructure for tokenizing real-world assets.
According to The Block, Opacity Labs, the developer of the zero-knowledge proof-based data verification platform Opacity Network, has raised $12 million in a seed funding round. The round was co-led by Archetype and Breyer Capital, with participation from a16z Crypto Startup Accelerator (CSX), Finality Capital Partners, Bodhi Ventures, and Escape Velocity (EV3). The company began fundraising in July and completed the round last month. The funding round was structured as a Simple Agreement for Future Equity (SAFE) with a valuation cap and token warrants, with the specific valuation undisclosed. This seed round brings Opacity's total funding to $13.4 million, after a previous $1.4 million Pre-Seed round. Opacity is described as a zero-knowledge proof-based data verification network that allows users to verify information without revealing underlying details. For example, individuals can verify mortgage application income without disclosing the actual amount. Opacity utilizes zkTLS (zero-knowledge transport layer security), an extension of the standard TLS protocol that combines zero-knowledge proofs to enhance privacy and security during data transmission. It also employs a multi-party computation (MPC) architecture and Eigenlayer's Active Validation Service (AVS) to serve as verifiers for user data.
According to The Block, the crypto derivatives exchange Bitnomial announced on Tuesday that it has raised $25 million in a funding round led by Ripple Labs, and has launched a perpetual futures trading platform called Botanical in the US. Botanical is currently in closed beta testing and will provide investors with a way to trade perpetual futures, traditional futures and options, using Ripple's RLUSD stablecoin to settle the perpetual futures. In a statement, Bitnomial CEO Luke Hoersten said, "By launching Botanical, we have taken a bold step towards our mission of providing a regulated and innovative trading experience, which will offer an alternative to the often offshore and VPN-based solutions common in today's perpetual trading." Ripple CEO Brad Garlinghouse said in a statement, "Bitnomial's approach of bringing the offshore trading model into the US derivatives industry presents a significant market opportunity, as they establish a compliant derivatives market for digital assets like XRP."
Crypto-friendly city project Praxis raises $525 million to build a tech-forward city
According to The Block, the "crypto nation" project Praxis announced on Tuesday that it has raised $525 million to build a technology-forward city that supports the development of crypto, AI, energy and biotech. Praxis is led by 28-year-old co-founder Dryden Brown, and has attracted a number of new investors including Arch Lending, Manifold Trading, GEM Digital, as well as angel investors like Farcaster CEO Dan Romero and Worldcoin co-founder Max Novendstern. The project had previously raised funds from Paradigm, Alameda Research and Three Arrows Capital.
Praxis said in a statement, "Seeing institutions like BlackRock commit to crypto, we've designed a crypto-native mechanism to finance large-scale projects using tokenized real-world assets, and are partnering with the Middle East's largest new city development project, Global Emerging Markets. This financing is primarily composed of extraction tools, representing the first deployment of this mechanism." The project's website also states that it has nearly 14,000 "Praxians" residing around the world.
It's worth noting that GEM Digital's previous investments have been questionable, with a common tactic being "investment commitments" and "large investments" that don't materialize. A 2022 PANews report stated that most of GEM's invested projects lacked substance, and were often announced as investment commitments rather than direct investments, using positive news with the project partners to pump prices and then sell out to distribute profits.
Data: World Liberty Financial has sold $9.65 million worth of tokens so far
According to the official website, as of 8:37 am Beijing time today, the crypto project World Liberty Financial, supported by the Trump family, has sold approximately 644.02 million WLFI tokens in the public token sale, with 19.355 billion tokens remaining. Calculated at $0.015 per token, the sales amount to approximately $9.65 million. In an early morning post on X, Trump wrote, "The token sale for World Liberty Financial is now live, and crypto represents the future. Let's embrace this incredible technology and lead the world's digital economy."
Tesla has transferred its remaining $770 million worth of Bitcoin reserves to multiple new addresses
According to data tracked by blockchain analytics firm Arkham Research, electric vehicle giant Tesla, operated by Elon Musk, has transferred approximately 11,509 Bitcoins worth around $770 million to about seven new addresses. This appears to be the company's entire remaining Bitcoin reserves. Tesla invested $1.5 billion in Bitcoin in February 2021. Prior to these token transfers, Tesla conducted six test transactions, marking the first time the company has interacted with its Bitcoin wallets since Tesla sold most of its assets in 2022. It's unclear why the company is moving the Bitcoins now after over two years of inactivity, but some speculate it may be preparing to sell more Bitcoin. As of October 15, Tesla's Bitcoin holdings were estimated at 9,720 BTC worth around $650 million, far below its peak of 43,000 BTC. However, Arkham believes Tesla holds a total of 11,509 BTC across 68 addresses, worth around $770 million at current prices. SpaceX, Musk's space exploration company, is also estimated to hold an additional 8,285 BTC according to BitcoinTreasuries. Tesla is scheduled to report its Q3 2023 financial results after the market close on October 23.
A trader turned $727 into $2.44 million by trading GOAT, a 3,176x return in 5 days
According to Lookonchain monitoring, the trader marked "stupidmoney.sol" sold all 15.15 million GOAT tokens just 3 hours ago. In just 5 days, they turned 5 SOL ($727) into 15,883 SOL ($2.44 million), a 3,176x return.
Ethereum Foundation sells 100 ETH for 257,900 DAI
On-chain data shows that the Ethereum Foundation's address 0xd77...1f4, used for small high-frequency ETH sales, sold 100 ETH at a price of $2,579 per ETH 20 minutes ago, receiving 257,900 DAI in return.
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