Bitcoin
Paradigm supports BTC Babylon staking protocol with $70M round
Babylon Bitcoin Staking Protocol Successful created $70 million in a funding round led by venture capital firm Paradigm.
Babylon’s investment round included participation from Bullish Capital, Polychain Capital, Hashkey Capital, Mantle, Galaxy, Hack VC, ViaBTC Capital, Amber, and HTX Ventures.
The platform intends to use this new capital to drive its mission of establishing a Bitcoin-secured decentralized economy. Allows multiple proof of bet (PoS) systems, such as PoS chains, layer 2 solutions, data availability layers, and oracles, to use Bitcoin as a staking asset.
By using Babylon’s modular design and shaving functionality, PoS systems can enhance their cryptoeconomic security far beyond what native tokens offer.
According to Babylon, this approach could unlock more than $1 trillion in Bitcoin ecosystem value, significantly reducing inflationary pressure on PoS chains and increasing financial utility for Bitcoin holders.
David Tse, co-founder of Babylon, expressed his excitement about the investment.
“We are excited by the confidence shown by Paradigm, Bullish Capital, Polychain Capital and other investors,” he said. “This funding will accelerate our mission to make Bitcoin the security backbone of PoS systems.”
Growing Footprint of the Paradigm in Crypto Finance
Paradigm’s role in fundraising is notable. The research-driven technology investment firm has been actively involved in the crypto investment space.
Earlier this year, Bloomberg reported Paradigm’s leading role in a significant funding round for Merkle Manufactory, the company behind the Farcaster network.
Rated at approx. US$ 1 billionFarcaster raised $150 million with Paradigm at the helm, alongside A16z Crypto, Haun Ventures, USV, Variant, Standard Crypto and others.
In April, Paradigm also announced plans to raise new funds for crypto investments, targeting up to $850 million as the digital asset industry continues to recover.
This would mark Paradigm’s biggest fundraising since 2021, when the company secured $2.5 billion for a crypto fund, a record at the time until surpassed by Andreessen Horowitz’s $4.5 billion crypto investment fund in May 2022.
Other venture capitalists, including a16zHack VC and Hivemind are equally involved in fundraising activities, with amounts ranging from $50 million to $150 million, reflecting renewed momentum in the cryptocurrency sector.
Bitcoin
‘This is huge’ — Billionaire Mark Cuban issues ‘incredible’ Bitcoin and crypto prediction amid price slump
Bitcoin
Bitcoin
came back with a vengeance this year when former President Donald Trump Cryptocurrency boosts US presidential election in November with ‘revolutionary’ plan.
The price of bitcoin has surged to more than its all-time high in recent months, surpassing $70,000 per bitcoin and triggering a wave of mega-optimistic predictions about the price of bitcointhough it fell again this week, falling below $65,000 after the Federal Reserve kept interest rates steady.
Now, as Elon Musk suddenly breaks his silence on bitcoin and cryptocurrenciesBillionaire investor Mark Cuban called a California plan to digitize 42 million car titles using blockchain an “incredible step forward” and “huge” for cryptocurrencies.
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Mark Cuban, famous Shark Tank investor and billionaire owner of the NBA team Dallas Mavericks, has… [+] called a cryptocurrency update “amazing” amid bitcoin’s price slump.
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The California Department of Motor Vehicles (DMV) has digitized 42 million car titles using blockchain, it was reported by Reuters, through technology company Oxhead Alpha on the Avalanche blockchain and designed to detect fraud and facilitate the securities transfer process.
“This is an incredible development for crypto,” Cuban, best known as an investor on TV’s Shark Tank and owner of the Dallas Mavericks NBA team, posted on X, joking that U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler could sue the state as part of his hostility toward cryptocurrencies and blockchain technology.
“The reason this is huge for crypto is because people who hold the tokens will have an app with an Avalanche wallet,” Cuban said. “Tens of millions of Californians having and using a crypto wallet in the next five years, or however long it takes, normalizes the use of wallets and crypto.”
John Wu, president of Avalanche developer Ava Labs, told Reuters that California’s DMV is “creating a wallet that you can download on your phone.”
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Bitcoin’s price has rallied this year, triggering a wave of bullish bitcoin price predictions from… [+] people like billionaire Mark Cuban.
Forbes Digital Assets
Last month, Cuban predicted that if the US dollar falls as the global reserve currency, bitcoin could become “a global ‘safe haven’” and a “global currency.” potentially sending the price of bitcoin to a much higher level.
According to Cuban, bitcoin could become what its most ardent supporters “envision” — a means “of protecting our economies… This is already happening in countries facing hyperinflation.”
The price of bitcoin has skyrocketed over the past year, largely due to the world’s largest asset manager, BlackRock, leading a bitcoin attack on Wall Street.
Bitcoin
MicroStrategy’s Cash Flow Amid Bitcoin Rally Raises Some Eyebrows
Analysts are starting to pay more attention than usual to Bitcoin-proxy’s underlying enterprise software business MicroStrategy Inc.
How to better invest cash generated from operations is what originally prompted co-founder and CEO Michael Saylor to turn to Bitcoin four years ago. Since then, the Tysons Corner, Va.-based company has adopted a two-pronged strategy of investing in the cryptocurrency instead of traditional assets like short-term Treasuries and ramping up its software operations.
Bitcoin
Large Bitcoin (BTC) Holders Added $5.4 Billion Worth of BTC in July, Data Shows
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Bitcoin
Bitcoin (BTC) Hits Six-Week High After Trump’s Pro-Crypto Speech
Bitcoin has retreated from a six-week high as investors shift their focus to speculation the U.S. may sell seized tokens just days after Donald Trump vowed to create a government stockpile of the cryptocurrency if he is elected president again.
The US transferred $2 billion worth of Bitcoin to a new digital wallet address on Monday, blockchain research firm Arkham said in a publish on social media platform X. Market analysis firms have speculated that the tokens are from the Silk Road marketplace, where customers used virtual currencies to buy illegal drugs and hacking tools before it was shut down.
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