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Tether is in talks with investors to raise $15 billion to $20 billion in new funding that could value the largest stablecoin issuer at around $500 billion, putting it in the same league as titans like OpenAI and SpaceX. The private placement would involve issuing new equity, with Cantor Fitzgerald advising on the process, and give investors a stake of about 3% in the company, Bloomberg reported, citing two people familiar with the matter. They cautioned that the final raise could be significantly smaller as talks are in the early stages. If successful, the deal would rank among the largest private financings ever, and highlights the company’s bid to dominate stablecoins even as rivals such as Circle expand. “Tether is evaluating a raise from a selected group of high-profile key investors, to maximize the scale of the Company’s strategy across all existing and new business lines (stablecoins, distribution ubiquity, AI, commodity trading, energy, communications, medi...

Author: WuBlockchain According to RootData statistics, there were 97 publicly disclosed Crypto VC investment projects in September, representing a 13% month-over-month decrease (112 projects in August 2024) but a 4% year-over-year increase (93 projects in September 2023). Note: Since not all fundraising activities are disclosed in the same month, these figures may increase in the future. The breakdown by sector is as follows: Among them, CeFi accounted for approximately 6%, DeFi for 27%, NFT/GameFi for 10%, L1/L2 for 8%, RWA/DePIN for 11%, Tool/Wallet for 9%, and AI for 6%. The total fundraising amount in September was $610 million, representing a 23% month-over-month decrease (from $790 million in August 2024) and a 12% year-over-year decrease (from $690 million in September 2023). The top 10 rounds by funding amount are as follows: Modular blockchain Celestia raised $100 million in funding, led by Bain Capital Crypto. This fundraising was conducted through an OTC token sale, announce...

As part of the reported restructuring efforts at Rario, a number of roles are also being eliminated, according to the report. Rario, a Polygon-based platform issuing cricket-related nonfungible tokens (NFTs), has reportedly seen its founders leaving the firm after two years since launch. Founders of Rario, including Rario CEO Ankit Wadhwa and chief technology officer Sunny Bhanot, are being pushed out as investors at the startup to exert greater control over the platform, TechCrunch reported on Sept. 8. Rario CEO Ankit Wadhwa (left) and CTO Sunny Bhanot (right). Source: TechCrunch Dream11, a major Indian fantasy sports platform and the largest backer of Rario, is being ousted as well, according to the report. As part of other restructuring efforts at Rario, a number of roles are also being removed, the report said. Apart from Dream11, Rario has some prominent investors including the global investment company and cricket legend Sachin Tendulkar. In April 2022, the cricket NFT platfor...

Circle’s investment arm has joined a funding round for CNHC, the issuer of the eponymous stablecoin pegged to the offshore yuan. The investment arm of major cryptocurrency exchange KuCoin is moving to support new Stablecoin initiatives by backing a Chinese yuan-pegged Stablecoin issuer . KuCoin Ventures has led a $10 million investment into stablecoin issuer and blockchain-based payment service provider known as CNHC. Announcing the news on March 16, KuCoin Ventures said that the funding round included some prominent industry investors, including KuCoin’s investor IDG Capital and Circle Ventures, the investment arm of the USD Coin (USDC) issuer, Circle. KuCoin chief investment officer and KuCoin Ventures lead Justin Chou told Cointelegraph that the new investment in CNHC is the first time for KuCoin Ventures to invest in a stablecoin -related project. “KuCoin is always interested in building a stronger infrastructure for the financial system,” Chou said, adding that the world is like...