All of the latest major news, solely on investments in the crypto market over the second week of September are in our Investment Digest
- Great Keppel Island of the Great Barrier Reef might get rebuilt with $216 million funding through crypto. A part of the plan includes building 1000 luxurious apartments and villas along with 250 berth marina, a golf course and an airstrip.
- Backed by a $65 million investment, Paxos has announced the launch of its USD-centralized stablecoin, Paxos Standard. The stablecoin is backed by New York State Department of Financial Services. Based on the Ethereum blockchain, the stablecoin goes by the ticker PAX.
- Close to $100 million worth of ETH spent in the last 30 days by projects that conducted their token sale on the ETH network. DigixDAO is reported to have spent the most ETH ($41.6M) followed by Etheroll ($17.6M) and Cobinhood ($16.8M).
- Stellar Development Foundation acquired Chain for an amount that is 'significantly more than $40 million' to create Interstellar. The partnership was completed on 5th of September while it was officially declared only on the 10th of September. Adam Ludwin, Chain CEO, mentioned that all former employees of the firm will continue under the new venture.
- ICOs could only manage to raise $326 million in the month of August as compared to $3077 million in January this year. The decreased amount of total collection through ICOs of startups on the Ethereum blockchain is suggested to be one big reason for the downtrend of ETH according to some reports.
- Bithumb, Upbit and Coinone insured themselves against crypto hackings for $5.3 million, $4.5 million and $2.7 million respectively through Hanhwa Insurance. The insurance firm of South Korea considers getting many more cryptocurrency exchanges inducted into its insurance plan.
- Blockchain game development platform, Cocos-BCX, raised $40 million in funding. The investment round was backed by Binance Labs, NEO Global Capital, 500 Startups and many others. Cocos-BCX is the group behind Cocos2d-x which is well known for creating games like Angry Birds, Clash of Kings, Badlands etc. Now, with this funding, the company aspires to change the future of gaming.