Famous Billionaire Gives Up On Blockchain While Whales Acquires Huge Amounts of BTC Over The Counter

Binance invests millions in Contentos, Li Xiaolai gives up, investors accumulates BTC in OTC, $15M for stablecoin, Acronis plans to invest $20M in Arizona, ConsenSys invests $6.5M in DrumG Technologies, Veem gets $25M from Goldman Sachs, SEBA raises $103M, VC firms increase investments by 280%, KIP plans to invest in Temco

  • In an October 1st press release, Binance labs announced it has invested millions of dollars in startup Contentos. Contentos is going to develop a decentralized system for the monetization of content without the involvement of any third-party censorship.
  • Li Xiaolai is contemplating on a career change. He publicly states he is giving up on investing in blockchain. China’s Bitcoin billionaire appears to have been fed up with fraudulent actors in the crypto space.
  • Whales are acquiring huge amounts of Bitcoin over the counter, according to Bobby Cho, head of trading at Cumberland. If these high net-worth institutional investors are hoarding Bitcoin then it should reflect in the market, but the market has been stable for the past two months.
  • Venture Capital firm Andreessen Horowitz venture invested a reported $15 million stablecoin in MakerDAO (MKR). The stablecoin is built on Ethereum. It was supposedly made to stabilize the price of DAI.
  • Acronis plans to enter the blockchain and AI market. The cyber protection and hybrid cloud solutions company intends to increase its investment by $20 million in Arizona for the next three years by providing jobs through the expansion of its operations and as well as its research and development department.
  • ConsenSys invested $6.5 million in DrumG Technologies, a startup started by Tim Grant, who is also the former head of Business Development in R3. ConsenSys is the only investor in its Series A funding round. Joseph Lubin, ConsenSys founder and CEO is on the Board of Directors of DrumG Technologies.
  • Goldman Sachs invested $25 million to DLT-based payments system Veem. The banking giant invested in the startup through its Principal Strategic Investment Group. In the previous months, the Goldman Sachs group has supported a number of DLT projects.
  • Seba Crypto AG successfully raised over $103 million or 100 million Swiss francs to start a regulated bank for fiat to crypto trading. SEBA is lead by former UBS executives.
  • Diar publishes a report that shows an increase of investments from venture capital firms by 280% in 2018. The report mentions data from Pitchbook that ICOs have raised $3.9 billion from VC firms this year.
  • South Korean venture capital firm KIP publicized on Tuesday their intention to invest in Temco. The amount invested will remain undisclosed. Temco is another startup targeted at improving the supply chain management systems for small and medium enterprises through blockchain technology.
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