VC Roundup: Investments in Web3 startups top $1B in July
This edition of Cointelegraph’s VC Roundup features Pichi Finance, Sybill, Hyperbolic, Raad Labs, and zkLink.
This edition of Cointelegraph’s VC Roundup features Pichi Finance, Sybill, Hyperbolic, Raad Labs, and zkLink.
[Strategy's Daily Trading Volume Surpasses Intel] According to BitcoinTreasuries.NET, the daily trading volume of Bitcoin treasury company Strategy (MSTR) has now surpassed that of tech giant Intel.
[Fluidstack in Talks for $700 Million Financing, Valuation May Reach $7 Billion] Cloud computing startup Fluidstack is in discussions to raise approximately $700 million in a new round of financing, with the company's valuation expected to reach $7 billion. Investment firm Situational Awareness, founded by former OpenAI researcher Leopold Aschenbrenner, is likely to lead the round, with Goldman Sachs serving as the banking advisor for the financing. Google parent company Alphabet Inc. is also considering participating in this round of investment. As the information has not yet been made public, sources have requested anonymity.
[U.S. SEC Meeting Reveals Regulatory Divide Between Traditional Finance and Crypto Industry] The U.S. Securities and Exchange Commission (SEC) Investor Advisory Committee held a meeting yesterday, with executives from Citadel Securities, Coinbase, and Galaxy participating in the discussion. The meeting highlighted the divide between traditional finance and the crypto industry on the issue of decentralization. Samara Cohen, Senior Managing Director at BlackRock, stated that the diverse perspectives of the six-member panel reflect current challenges and could lead to various solutions. Scott Bauguess, Vice President of Regulatory Policy at Coinbase, argued that decentralized exchanges (DEXs) should not be subjected to the same regulatory obligations as brokers. SEC Chairman Paul Atkins emphasized the need to provide a compliance pathway to leverage the unique capabilities of new technologies in order to drive U.S. innovation, investment, and employment.
[Mixed performance in the crypto sector as U.S. stocks close, BitMine rises 7.9%] U.S. stocks closed on Thursday with the three major indexes showing flat movements. The Dow fell 0.07%, the S&P 500 rose 0.1%, and the Nasdaq gained 0.2%. The crypto sector saw mixed performance: Circle rose 1.36%, BitMine surged 7.9%, Coinbase dropped 1.04%, Strategy fell 1.26%, SharpLink climbed 5.38%, and CEA Industries declined 5.05%. (msx.com) is a decentralized RWA trading platform that has launched hundreds of RWA tokens, covering various U.S. stocks and ETF assets.
Binance founder Zhao Changpeng (CZ) responded to economist Peter Schiff, emphasizing that Bitcoin protects the wealth of millions of people worldwide. The Bitcoin Historian (The Bitcoin Historian)