NBA 76ers joins fan token platform Socios

Socios, the blockchain-based platform responsible for tokenizing many popular sports franchises, has said the Philadelphia 76ers basketball team will be joining its roster. In a Thursday announcement from Socios, the platform said as part of the partnership the 76ers, or the Sixers, will integrate branding from the fan token site across the physical and digital space. Socios will appear on screens in the team’s home venue, the Wells Fargo Center in Philadelphia, as well as on its website and social media. Alexandre Dreyfus, CEO of Socios and blockchain-based sports platform…

B.Protocol announces v2 platform for DeFi liquidations

Decentralized finance service B.Protocol has announced plans for a new version that will improve the liquidation of undercollateralized loan positions on lending platforms. In a release issued on Tuesday, the backstop liquidity protocol for DeFi lending platforms revealed that the upcoming v2 is based on a white paper for a novel Backstop automated market maker (B.AMM) written by a couple of anonymous community members. According to a blog post published by B.Protocol founder Yaron Velner the v1 design that utilized professional liquidators to share profits with users instead of miners…

IBM contributes blockchain platform code to Hyperledger to drive enterprise blockchain adoption

The global blockchain technology market size is projected to reach $72 billion in the next five years. In order to ensure this growth, however, blockchain solution providers must continue to advance and innovate.  For example, public enterprise blockchain use has become an ongoing trend this year as companies like ConsenSys aim to drive adoption for open, permissionless networks. On the flip side, it’s important to point out that private blockchains are still being leveraged by enterprises and will continue to be utilized as innovation continues. Advancing open, permissioned blockchain networks Most…

Major US trading platform Interactive Brokers to offer cryptocurrency trading

United States foreign exchange company Interactive Brokers will offer direct cryptocurrency trading to clients within months, a report says. Speaking at the Piper Sandler Global Exchange & FinTech Conference on June 9, founder Thomas Peterffy revealed that the firm had opted to enter the crypto market. Demand fuels latest crypto uptake Quoted by CNBC, Peterffy hinted that client demand had been a major driver of the decision. “Customers certainly are asking for [crypto trading] and we expect to be ready to offer it to them by the end of the summer,”…

Kraken launches Kusama Parachain Auction platform as KSM defies downtrend

U.S. cryptocurrency exchange Kraken has announced a “first-of-its-kind” Parachain Auction Platform enabling clients to participate directly from the exchange. In a blog post on June 8, Kraken revealed the new platform will enable users that qualify to pledge support for Kusama projects vying for a Parachain slot by staking Kusama’s KSM tokens. The rewards for contributors who support a winning bid vary and can include referral bonuses, early participation bonuses, and airdrops. Polkadot’s multi-chain ecosystem will use sharded sidechains to process transactions in parallel. These Parachains are acquired in the…

Crypto investment platform Coinseed shuts down amid NYAG lawsuit

Coinseed, a crypto platform that enabled micro-investing in cryptocurrency assets for its users, has shut down its operations. Delgerdalai Davaasambuu, founder and CEO of Coinseed, announced the decision via a statement published on the platform’s website. Detailing his decision to shutter the business, Davaasambuu wrote: “It is with an incredibly heavy heart, today I’m announcing that I am winding down the business due to a lawsuit from the NYAG (New York Attorney General).” As previously reported by Cointelegraph, the Office of the New York State Attorney General brought fraud charges against…

Andreessen Horowitz leads $40M investment round into crypto-trading platform

Talos, an up-and-coming institutional technology provider for cryptocurrency trading, has secured $40 million in Series A funding from some of the biggest venture capitalists in the digital asset market.  The raise, which was led by Andreessen Horowitz, also had participation from PayPal Ventures, Fidelity Investments, Galaxy Digital, Elefund, Illuminate Financial and Steadfast Capital Ventures. Talos said the Series A funding will help bootstrap the expansion of its institutional trading platform. The company provides fund managers and other institutions with liquidity sourcing, direct market access, and clearing and settlement services. Its…

Blockchain platform raises $12M to build JavaScript-like DApps

Reach, a blockchain development platform for decentralized applications, has raised $12 million from investors to further its goals of simplifying the DApp creation process, the company announced on Wednesday. The latest funding round takes the total sum raised by Reach to $48 million as the firm aims to produce a JavaScript-like programming language for use in building blockchain applications. At present, most major blockchains launch with their own unique programming languages, meaning the applications built on each platform are rarely compatible with any other. Reach launched in 2019 and has…

OneOf raises $63M for new Green NFT platform for musicians

Sustainable technology company OneOf has raised $63 million in seed funding to finance its new Green NFT platform for musicians, offering further evidence that the market for nonfungible tokens remains hot. Several investors and venture capitalists participated in the seed round, including Bill Tai, Sun Said of Nima Capital, Sangha Capital, Tezos Foundation, Jack Herrick and Jaeson Ma of East West Ventures. Built on the Tezos protocol, OneOf is a marketplace for artists and fans to tap into digital collectibles. The company claims that minting NFTs on Tezos uses over…

Lego and Disney veteran joins digital collectibles platform Terra Virtua

Digital collectibles platform Terra Virtua has tapped branding veteran Pierre Dadd to lead its marketing division, offering yet another example of a high-profile executive transitioning to a blockchain company. Dadd has been hired for the position of marketing director, Terra Virtua announced Wednesday. Dadd has over 20 years of experience in marketing and brand development, making him a strong candidate to spearhead Terra Virtua’s marketing efforts. Dadd’s LinkedIn profile suggests he has been involved with the company since at least April. Prior to accepting the position, he headed his own…