Big Plans, Careful Moves (Investment and Partnership Digest, Nov 15—21)

Besides gaming news: KuCoin completing round A investments, Binance investing $3M in OTC, Bilbao-city offering a grant for a blockchain project, IBM and Columbia University creating accelerator programs, an Israeli institutional investor setting up two funds, Parker Wright to raise $250M, KMPG emphasises on the importance of institutional investors

  • KuCoin announced it has secured $20 million in Series A funding round.  According to the exchange, the funds will be used to create a more secure global platform. The round is led by investors such as IDG Capital, Neo Global Capital, and Matrix Partners.
  • Binance Labs released a press release stating Binance invested $3 million in Koi Trading. Koi Trading is a San Francisco-based, over-the-counter cryptocurrency trading desk which seeks to be the choice for private cryptocurrency liquidity. Aside from providing liquidity, the trading firm provides quantitative research, data science, and compliance consultation services.
  • Mythical Games released a statement conveying it has raised $16 million in Series A funding round. The round was led by Digital Galaxy. The acquired capital will be used to produce new games on the blockchain that will enable players and developers to modify certain game aspects.
  • Blockade Games gears up to present the Marguerite deCourcelle led project, Neon District, a blockchain-based video game. The game is valued at $13 million. Blockade Games is also working on a new game, Buidl Bear.
  • IBM and Columbia University revealed two accelerator programs to assist innovation of startups. The programs will each support 10 startups and provide business mentors, technical support, talents from Columbia University, and resources from IBM’s cloud technology.
  • Bilbao, located in the North of Spain, offered a €150,000, approximately $171,000, tender to build a public services blockchain within 6 months. The company who will win the contract has to develop a network akin to EJIE to help local authorities process data exchange from separate public institutions.
  • Silver Castle, the first institutional investment firm from Israel, sets into motion two crypto funds. Silver Castle sees the current bear market as an opportunity for institutional investors to enter the market with reduced risks. Eli Mizroch, the firm’s CEO, is certain the market is ideal for large-scale investments.
  • A global investment firm, Parker Wright, will raise funds amounting to $250 million on the CDRX platform. An agreement signed between Parker Wright and CDRX affirms the said amount will be used for the investment firm’s Quantitative AI fund.
  • Security Token Network released a curated list of firms who have invested in Security Token Offerings (STO) and other related projects. Firms in the list include INDX Capital, Pantera Capital, Swarm Fund, and Sequoia Capital.
  • KMPG, a Netherlands-based auditing firm, released a report: Institutionalization of Cryptoassets. The report emphasized the importance of institutional investors in the growth of the cryptocurrency industry.

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Will The Binance.US Launch On Tuesday Inspire A Bitcoin Price Breakout After A Fail With The Bakkt Launch?

The Bakkt launch that went live a few hours ago has not had the desired result. Analysts have been predicting that its launch would bring in traditional investors such as Wall Street and trigger an upward move. In the first day, this has not been the case. With the launch failing, there is a new development that could potentially boost Bitcoin and see it Breakout, finally cementing its support above $10K. The launch of Binance.US. Its shortcomings could propel Bitcoin upwards, however, this comes at the cost of altcoins. Binance exchange has announced that its American arm, Binance.US, will commence trading on Tuesday.  Last week the exchange began registration and accepting deposits from the U.S. Residents will no longer be allowed to trade through the global platform as the exchange announced months ago. This has come at a cost for investors. Due to the regulatory framework in the U.S, the exchange will not be able to offer as many trading options as it does in its main platform. For now, Binance U.S will only offer Bitcoin, Bitcoin Cash, XRP, Ethereum, Tether, Binance Coin, and Litecoin. Regulatory Hurdles To Boost Bitcoin The U.S is one of the largest crypto markets and Binance one of the biggest exchanges. The limit on trading options is expected to have an effect on market dominance and price movement. In the face of it, it could lead to Bitcoin and the few coins on offer gaining more dominance and their prices soaring, leaving the other lot of altcoins in the wind. Hopefully, as the exchange has stated, more coins will soon be listed. This include, Stellar, 0x, BAT, and Ethereum Classic. Notably, limited trading options is not the only regulatory problem facing Binance US. The launch will be restricted in several states including New York. The other 12 states include Florida, Texas, Louisiana, Hawaii, Idaho, North Carolina, Connecticut, Alaska, and others. Bitcoin Price Update And Prediction Bitcoin at the time of press is trading below $10K, a support that has continually been breached by the bears in the last few months. The Bakkt launch was a potential catalyst that should have seen prices breakout. With Bakkt failing, the bulls now set their eyes on the Binance US launch that should see a change in trends and prices for the digital asset. The post Will The Binance.US Launch On Tuesday Inspire A Bitcoin Price Breakout After A Fail With The Bakkt Launch? appeared first on ZyCrypto.
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