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Crypto liquidity aggregator CoinDCX gets seed funding from Bain Capital Ventures

CryptoNinjas CoinDCX, an Estonia-domiciled global liquidity aggregator with R&D in Mumbai, India, announced it has raised a seed round of financing led by Bain Capital Ventures. Notable angels, including Sanjay Mehtaand Utsav Somani participated. Funds will be used to scale technical infrastructure and introduce products... Crypto liquidity aggregator CoinDCX gets seed funding from Bain Capital Ventures
CryptoNinjas

Crypto Liquidity Aggregator, CoinDCX Raises Seed Financing from Bain Capital Ventures

MUMBAI, India, March 20, 2019 /PRNewswire/ -- CoinDCX, an Estonia-domiciled global liquidity aggregator with R&D in Mumbai, India, raised a seed round of financing led by Bain Capital Ventures. Notable angels, including Sanjay Mehta and Utsav Somani participated. CoinDCX is a financial services aggregator and has versatile financial instruments and deep orderbooks that target a variety of trading use-cases. CoinDCX has gathered a user base of 50,000, and over a million dollars in average daily trading volume, both growing fast. Funds will be used to scale technical infrastructure and introduce products that bring transparency and inclusivity to CoinDCX's users. "No single platform provides investors with a complete set of financial instruments to trade their digital assets. That's why we created CoinDCX," said Sumit ...Full story available on Benzinga.com
Benzinga

Bitcoin Rewards Startup Lolli Raises $2.25M In Seed Funding Led By Bain Capital

A Bitcoin rewards platform called Lolli has raised $2.25 million USD in a recent seed funding round from investors which was led by Bain Capital Ventures and by the Digital Currency Group. Other companies that participated were Version One, Forerunner Ventures, 3K VC, SV Angel, FJ Labs, Alex Chung, Gokul Rajaram, Brian Sugar and other minor investors. The platform is set to allow users to earn Bitcoin when they shop at partners of the company. The firm already has over 500 partners like Hilton, Marriot, Walmart and Forever 21. The idea is to give the users up to 30% of the money that they spent back in Bitcoin. Alex Adelman, the creator of Lolli, which also acts as its current CEO, has expectations that the company will create a strong use case for Bitcoin. The service will work via browser extensions in popular browsers like Chrome (and Safari) and will notify the users when they get rewards for buying. All the money can be put back into their Lolli wallets later. They can spend their money, save it or convert it back to fiat from their wallet. The wallets will have the option for cold storage, which will keep the Bitcoins of the user safe and offline. The CEO affirms that people do not really think a lot about the consumer and that is how the company wants to make something different. He says that people want to earn Bitcoin instead of spend it. This way, the platform can help them by letting their earn it while they spend money and everybody gets happy and satisfied. By making it really simple for people to get Bitcoin, this program will boost the adoption of the token. Also, the company has been very successful so far as it already has thousands of clients and processed six figures in sales so far. Well that's exciting: https://t.co/WFcjF9Idra. Check out @trylolli for all your holiday shopping with a side of #btc — Alex Binkley (@bnkly) November 14, 2018
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Bain Capital Backs $2.25 Million Round for Bitcoin Rewards Startup Lolli

Bain Capital Backs $2.25 Million Round for Bitcoin Rewards Startup Lolli Bitcoin rewards platform Lolli has raised $2.25 million in seed funding from investors including Bain Capital Ventures and Digital Currency Group. Also participating were Version One, Forerunner Ventures, 3K VC, SV Angel, FJ Labs, Gokul Rajaram, Alex Chung, Brian Sugar and others, the firm said Wednesday.… The post Bain Capital Backs $2.25 Million Round for Bitcoin Rewards Startup Lolli appeared first on Altcoin Today.
Altcoin Today

Bain Capital Ventures Announces $1 Billion To Invest In Early And Growth-Stage Startups

SAN FRANCISCO, Nov. 14, 2018 /PRNewswire-PRWeb/ -- Bain Capital Ventures today announced $1 billion in new funding to invest in early through growth-stage technology startups that are transforming major industries. The new funding includes a $650 million core fund, a $250 million co-investment fund for larger growth investments and over $100 million from the partners at Bain Capital. Bain Capital Ventures now has $4.9 billion in assets under management. The new funding comes on the heels of several recent billion-dollar exits and IPOs, including Blue Coat, DocuSign (DOCU), Jet.com, Rapid7 (RPD), SendGrid (SEND), SquareTrade and SurveyMonkey (SVMK). Since its first dedicated venture fund in 2001, Bain Capital Ventures has invested more than $3.6 billion to launch and grow over 240 companies and has helped its portfolio realize over $50 billion in exit value. Today, ...Full story available on Benzinga.com
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Ravencoin Grows 20% And Continues to See RVN Token Surge in the Crypto Market

There are several altcoins that are registering interesting growth rates in the last weeks. This time, Ravencoin (RVN) was able to pump once again over 20% in just 24 hours. Although Bitcoin keeps being traded sideways, there are some altcoins that are behaving very positively. Ravencoin Spikes 20% Ravencoin was able to grow 20% and […]
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Bitcoin [BTC] Futures in good stead against its Spot equivalent: Bitwise Report

Bitcoin [BTC] Futures were thought to be a snippet of the overarching cryptocurrency market, though meager in comparison to the larger spot market. A recent report from Bitwise Asset Management, the crypto-centric investment firm has stated otherwise. In a March 20 report presented to the United States’ Securities and Exchange Commission [SEC], Bitwise analyzed the Chicago Mercantile Exchange [CME], and the Chicago Board Options Exchange, with ten prominent cryptocurrency exchanges’ in terms of their trade volume. Prior to shedding light on their Futures versus Spot findings, it must be noted that the report revealed that 95 percent of the trading volume of unregulated exchanges were seemingly “fake and/or non-economic wash trading”. Taking into account this disparity, the percentage of futures volume to their spot equivalent increases from 1.51 percent to 33.33 percent. Reported Spot volume totaled $6 billion, but after removing the “suspicious exchanges”, the actual volume recorded dropped to $273 million, in comparison to the futures market volume of $91 million. Furthermore, the increase in futures’ volume as a percentage of the spot market has been steadily increasing. From November 2018 to January 2019, the futures market was just over 15 percent, and almost doubled in February 2019 to 33 percent. Since the Futures contracts were approved in December 2017, only on two occasions did the Futures volume, in comparison to the Spot market, shoot above 20 percent; this was in May and August 2018. Futures Volume expressed as a percentage of their Spot Equivalent In terms of their stand-alone trade volume, the CME and the CBOE are in good stead against the world’s top cryptocurrency exchanges. The daily volume the CME, which brings in $84.82 million, ranks second behind Binance’s $110.5 million and ahead of Bitfinex, which records $38.06 million in daily trade volume. The CBOE also fairs well, taking the ninth spot on the ladder, ringing in $6.12 million in daily trade volume. Gemini takes the eight spot with $8.11 million and itBit caps off the top-10 with $5.58 million in daily volume. Notable, among the top-12, eight exchanges are registered within the United States. Despite the CBOE’s comparative success against the spot exchanges’, it has not been performing well against its cross-town rival, the CME. This slump forced the CBOE to delist their Bitcoin Futures [XBT] for March 2019. However, the XBT futures that are yet to expire later in the year will not be off-loaded prematurely. Bitwise also points out that the CME Futures Price tracks the Global Spot Price based on an arbitrage model. Given below is a chart attesting the same: Arbitrage between the CME Futures price and the global Spot price The post Bitcoin [BTC] Futures in good stead against its Spot equivalent: Bitwise Report appeared first on AMBCrypto.
AMBCrypto

How Cryptocurrency Trading Volume Fiasco Can Lead to Bitcoin ETF Approval

The SEC has held the ETF approval for Bitcoin and Cryptocurrency for a couple of reasons. The most significant reason for the same has been the unregulated marketplace. While decentralization in Bitcoin is an attribute that makes it an ideal asset class, the market places or Exchanges that provide for conversion of FIAT to Cryptocurrency is still controlled by independent entities. A recent report by Bitwise Asset Management published by the SEC inferred that more than 95% of the cryptocurrency volume is being faked. Hence, according to that, the ‘actual spot volume’ on cryptocurrency exchanges is a little above $270 million. Moreover, the reported volume of CME and Cboe Bitcoin Futures is more than one-third of the ‘actual spot volume’ estimated by Bitwise. According to Bitwise Asset Management, This is good news because it means CME— a regulated, surveilled market— is of material size, which important for an ETF. The case of a Bitcoin ETF Approval Now CME Bitcoin Futures reported a spot trading volume of $85 million. Moreover, according to Bitwise Asset Management, the actual trading volume of the Crypto-to-FIAT Exchanges is around $273 million. Hence, according to this statistic the Futures Trading Volume of CME alone accounted for 31.1% of the ‘Actual Exchange Volume.’ Moreover, there are other Bitcoin Futures market active in Europe and Japan as well. Hence, going by the above statistic, it can be said that the institutional investment might be in parity with the unregulated investment in Bitcoin. However, the Exchanges have reported total spot volumes total to the tune of $6 billion. This can necessarily raise doubts on its demand being higher than $100 billion. However, it does not directly affect the total market capitalization of a cryptocurrency.   Parity Between Spot Trading of Bitcoin and Gold The spot trading volume of Gold is 0.55% of its total market capitalization, while according to Bitwise statistics spot ‘actual spot trading on Bitcoin is 0.39%. If the CME Futures volume is included in this data, the percentage will increase to 0.51%. The OTC trading volume on most exchanges is also not added in the Exchange Data. All this suggest that the institutional investment in Bitcoin is considerably more significant than one expects. It is not only healthy in volume but also agrees statistically with the closest relatable asset class, i.e., Gold. Hence, a new form of informational mechanics for the trading of Bitcoin and Cryptocurrency in regulated Exchanges could alleviate the doubts around the Bitcoin ETF approval.   The post How Cryptocurrency Trading Volume Fiasco Can Lead to Bitcoin ETF Approval appeared first on Coingape.
CoinGape

Top 5 Crypto Performers Overview: ONT, ADA, ETC, BCH, IOTA

Top 5 Crypto Performers Overview: ONT, ADA, ETC, BCH, IOTA The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. […] Cet article Top 5 Crypto Performers Overview: ONT, ADA, ETC, BCH, IOTA est apparu en premier sur Bitcoin Central.
Bitcoin Central
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