Huobi co-founder reportedly looks to sell majority stake valued at over $1B

Leon Li, the co-founder of global crypto exchange Huobi, is reportedly in talks to sell the majority of his stake in the company that could be valued at over $1 billion. Li reportedly had discussions with multiple financiers seeking to offload a 60% stake in the crypto company, which could be valued at over $1 billion and some believe could fetch as high as $3 billion, reported Bloomberg. A Huobi spokesperson confirmed to Bloomberg that the co-founder is engaging with numerous international giants to sell his majority share in the…

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FTX may be planning to purchase a stake in BlockFi: Report

Crypto exchange FTX is reportedly in talks to acquire a stake in BlockFi after the company issued a $250 million credit to the lending firm. According to a Friday report from the Wall Street Journal, FTX is currently in discussions with BlockFi regarding the crypto exchange purchasing a stake in the firm, but no equity agreement has been reached. The reported ongoing talks followed BlockFi signing a term sheet with FTX to secure a $250 million revolving credit facility on Tuesday. “BlockFi does not comment on market rumors,” a BlockFi…

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Stake or DApp? With liquid staking, you don’t have to choose

Last summer, Polkadot made its own little bit of history after confirming the first five projects to occupy parachain slots on its canary network Kusama. Disparate blockchains that bolt onto Polkadot’s main Relay Chain for security, yet are otherwise independent, parachains represent a new way of doing business in blockchain, a maximalist vision aimed at enhancing scalability and governance while permitting the possibility of forkless upgrades. The five projects were Karura, Moonriver, Shiden, Khala and Bifrost. Fast-forward to today, and the first batch of parachains are set to expire, releasing…

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Robinhood shares spike 30% after Sam Bankman-Fried buys $650M stake

Sam Bankman-Fried, the billionaire founder and CEO of cryptocurrency exchange FTX has acquired a substantial 7.6% stake in the popular online brokerage, Robinhood.  The news was well received by the market, with Robinhood’s (HOOD) stock price initially soaring over 30% in after hours trading. At the time of writing the price has settled to a 24% overall gain. According to a securities filing made with the Securities and Exchange Commission on Thursday, Bankman-Fried purchased a total of $648 million in Robinhood shares at an average price of $11.52. The purchases…

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Terra to burn $1.4B UST and stake 240M LUNA to ‘stop the bleeding’

The Terra rescue story continues to unravel. In a tweet thread, the Terra Money Twitter account went into greater detail regarding the CEO of Terraform Labs, Do Kwon’s rescue plan for UST. The thread sheds light on Proposal 1164, Do Kwon’s initial strategy for Terra from May 11. The proposal would better balance the algorithmic stablecoin UST by expanding the base pool for the currency.  The proposal has received 220,000 votes, at over 50%.  The tweet thread also explains that there is a “supply overhang” of UST which explains LUNA’s…

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Degens can stake crypto to help the Ukrainian people

Laura K. Inamedinova is a marketing agency CEO from Lithuania who started early with ICOs, a journey that has led her to launch UkrainianPool, an initial staking pool offering raising money for the Ukrainian government. Inamedinova got into ICOs right out of university in 2016 and is shy to mention the name of the first crypto fundraising project she worked for. “There were definitely not only bad projects, but you didn’t know at that time,” she explains, referring to the early days of the industry. “You didn’t know that anything…

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Animoca Brands buys major stake in Aussie digital services agency

NFT investment giant Animoca Brands has acquired a major stake in Australian digital marketing agency Be Media. Be Media has locations in Perth, Melbourne, and Sydney and has provided Web2 firms with advertising and digital strategy since 2013. While the company isn’t geared up towards the crypto sector, the investment seems to be a part of Animoca’s immediate aim to “shepherd companies into Web3.” According to an announcement shared with Cointelegraph, Be Media will be tasked with seeking out partnerships with top Australian Brands relating to Animoca’s various blockchain-focused initiatives…

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Mozilla will only accept Proof of Stake crypto donations

The company behind the Firefox internet browser Mozilla is attempting to appease its environmentally-conscious community by accepting only Proof-of-Stake (PoS) crypto donations. The company initially halted all crypto donations in January, but has now opened them back up after a review period to assess community sentiments and to conduct research on crypto energy usage. An update to our policy on accepting cryptocurrency donations. We got it wrong, we heard you, and we’ve evolved. https://t.co/0bSThVJsCC — Mozilla (@mozilla) April 7, 2022 PoS blockchains consume less than 1% as much electricity as…

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Binance back in Malaysia via a strategic stake in regulated digital exchange

Binance, the world’s leading crypto exchange by trading volume is returning to the Malaysian markets with a strategic stake in the country’s regulated digital asset trading platfrom MX Global. Binance and Cuscapi Berhad acquired a key stake in MX Global, one of the four Recognized Market Operators – Digital Asset Exchange licensed by the Securities Commission (SC) in Malaysia. Hello Malaysia. https://t.co/vsHzHlm7KI — CZ Binance (@cz_binance) March 1, 2022 The leading crypto exchange has a significant presence in the Asian region and with its new partnership in Malaysia, the exchange aims to…

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How to stake cryptocurrencies in 2022, explained

DPoS is a version of PoS where participants can pool tokens in a staking pool to determine a block validator. In 2013, Daniel Larimer developed an evolution of PoS in which validators are joined by a new group, the delegates. In the resulting Delegated Proof of Stake (DPoS), delegates exist as representatives from the community, as indicated by those holding tokens. These ones can then vote on which validator could create a new block and become entitled to a reward paid through transaction fees. Delegates would also be required to…

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