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"The reason we didn’t go with a fund structure is because we don’t need any external funding to be able to build this business, both from a capital and management fee perspective," said Cheng. "It also allows us to finance investments with evergreen capital, which we believe is more valuable
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The decentralized finance (DeFi) ecosystem had quite an eventful week with several new developments and price action. The week started with DeFi “Godfather” Andre Cronje announcing his departure from most of his projects, leading to a massive drop in prices of projects that Cronje was associated with.CAKE DeFi launched a
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Singapore-based decentralized finance (DeFi) services firm Cake DeFi announced the launch of a $100 million venture arm dedicated to serving as accelerators for Web3, gaming, nonfungible tokens (NFT) and other crypto initiatives.The newly launched $100 million venture arm, Cake DeFi Ventures (CDV), will fund crypto startups that complement the company’s
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Binance Labs, the venture capital and incubation arm of Binance cryptocurrency exchange, has led a financing round for the cross-chain protocol Multichain, previously known as Anyswap.Shortly after rebranding from Anyswap last week, Multichain has raised $60 million in a seed funding round led by Binance Labs, the firm officially announced
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Binance Asia Services, the Singapore arm of major cryptocurrency exchange Binance, has acquired a stake in a local private securities exchange, Hg Exchange (HGX).On Dec. 7, the company officially announced an acquisition of a post-money 18% stake in HGX, a stock exchange licensed and regulated by the Monetary Authority of Singapore.Binance Singapore
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Galaxy Digital re-stocked its crypto-culture war chest earlier this year with a $325 million venture fund focused on digital entertainment.The fund, from Galaxy Interactive, which scouts gaming and arts startups for Mike Novogratz’s crypto conglomerate, has been investing in projects such as Art Blocks for months now, General Partner Sam
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On Monday, the U.S. wing of Sam Bankman-Fried’s crypto empire said its new marketplace, FTX NFTs, will allow users to trade, mint, auction and authenticate Solana-based NFTs. It plans to soon support Ethereum NFTs, the home to the bulk of non-fungibles trading. Original Source
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DBS Bank’s brokerage arm, DBS Vickers (DBSV), has been granted a license to operate as a Major Payment Institution from the Monetary Authority of Singapore (MAS).The broker says its license enables it to provide its services in the city-state through its DBS Digital Exchange (DDEx), according to a press release
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Emurgo, the commercial and venture arm of Cardano, is investing $100 million to boost decentralized finance (DeFi), non-fungible token solutions and blockchain education efforts for the world’s fourth-largest blockchain.Announced during the Cardano Summit 2021 on Sunday, Emurgo CEO Ken Kodama said the investment would “accelerate the development of the Cardano
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Red Date Technology, the company developing China’s Blockchain Services Network (BSN), wants the project to move past its government roots as it pushes for international expansion in a tumultuous geopolitical climate.Red Date filed in late July to register a nonprofit foundation in Singapore to manage the international version of the
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