FinTech news in founder category

Other investors in the round include PrimeBlock Ventures, M77 Ventures, ShataCapital, Kryptos, Antalpha Ventures, Waterdrip Capital, 7 O’Clock Capital, Misa Zhu, founder of AR glasses maker Rokid and Fan Zhang, a former co-founder of Sequoia Capital China. Other startups are also using MPC to enable distributed signing of crypto transactions, but Wang pointed to the fact that Safeheron is open-sourced, which gives its clients more transparency into its source codes. Since its product launch in October, Safeheron has powered over 20 clients, which altogether have more than $100 million in cryptocurrencies under custody and have facilitated more than $4 billion worth of transactions using Safeheron’s wallet as a service, according to Wang. Private keys, critical to decentralized crypto apps, let individuals take control over their digital assets through self-custody wallets rather than leaving control to a centralized institution.

A group of Voyager Digital customers filed a class-action suit in Florida federal court against Cuban as well as the basketball team he owns, the Dallas Mavericks, alleging their promotion of the crypto platform resulted in over 3.5 million investors losing $5 billion collectively.

UST is an algorithmic stablecoin that leans on a system of traders who swap between LUNA and UST when the value of UST goes above or below its 1:1 ratio, so it could hold to the U.S. dollar. The impact of this event can have broader implications across the market, as seen earlier this week when bitcoin’s value fell below $30,000 and U.S. Treasury Secretary Janet Yellen pushed for more stablecoin regulation during an annual testimony in front of the Senate Banking Committee on May 10, right in the middle of when Terra’s algorithmic stablecoin, UST, struggled to retain its peg.

Clearco co-founder Andrew D’Souza tells journalist that he has stepped back from his role as chief executive at the fintech company.

London-based early-stage European VC fund Backed is bolstering its position by adding €75 million to its seed fund, while adding another €75 million via a new follow-on fund vehicle.

Egorov is a DeFi superstar, and he’ll take the virtual stage with three other mighty minds — Andre Cronje, co-founder of Fantom Protocol; Taariq Lewis, founder of Volume; and Ivangbi, builder of narratives at Gearbox and LobsterDAO — for this must-see session.