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☆ These 16 creator startups raised millions of dollars in 2023 despite a 'brutal' fundraising landscape
▼ + stars: | 2023-11-27 | by ( Dan Whateley | Sydney Bradley | ) www.businessinsider.com time to read: +3 min

It's been a challenging fundraising year for creator-economy startups. Some creator upstarts have still managed to raise millions of dollars in 2023 despite constraining macroeconomic conditions. Link-in-bio upstart Hype in April announced it had raised a $10 million Series A. "We knew going into it that we are fundraising in arguably the most challenging fundraising environment in recent times," said Arthur Leopold, cofounder of the creator-marketing platform Agentio and a former president at Cameo. The funding ranged from a few million dollars to as much as $70 million for one startup.

Persons: It's, upstarts, Andreessen Horowitz, VCs, Kara Burney, Arthur Leopold, Leopold, Agentio, Steven Galanis, YouTuber Cody Ko, PitchBook Organizations: PitchBook, Business, Abstract Ventures, Founders Fund, Silicon Valley Bank, Craft Ventures, AlleyCorp Locations: Web3, Silicon, North America

Binance founder and CEO Changpeng Zhao pleads guilty to felony charges Tuesday related to his failure to prevent money laundering on the crypto exchange platform. Former Binance CEO Changpeng Zhao on Tuesday named a new CEO of the cryptocurrency exchange he founded, after pleading guilty to federal money laundering charges and stepping down as the company's chief. Zhao named Richard Teng, a former CEO of Abu Dhabi Global Market, the UAE capital's financial services regulator, as Binance's new CEO. "He will ensure Binance delivers on our next phase of security, transparency, compliance, and growth," Zhao added. Zhao appeared before Judge Brian Tsuchida for a hearing in a Seattle courtroom at 10:00 a.m. Pacific Time (1:00 p.m.

Persons: Changpeng Zhao, Zhao, Richard Teng, Teng, Binance, Sam Bankman, Fried, CNBC they'd, Brian Tsuchida Organizations: Abu, Abu Dhabi Global Market, Monetary Authority of, U.S, Bank, Emergency Economic, DOJ, CNBC, U.S . Department of Justice Locations: Abu Dhabi, UAE, Binance, Monetary Authority of Singapore, Seattle

☆ Singapore central bank sees regulation and innovation going together in the Web3 world
▼ + stars: | 2023-11-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSingapore central bank sees regulation and innovation going together in the Web3 worldSopnendu Mohanty, chief fintech officer at the Monetary Authority of Singapore, said this has manifested into projects, products and public consultations — all of which are the "right way to move forward."

Persons: Mohanty Organizations: Monetary Authority of Locations: Singapore, Monetary Authority of Singapore

☆ NBA's Spencer Dinwiddie and Calaxy co-founder Solo Ceesay demo the app's new crypto payment feature
▼ + stars: | 2023-11-14 | by ( Talia Kaplan | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNBA's Spencer Dinwiddie and Calaxy co-founder Solo Ceesay demo the app's new crypto payment featureSpencer Dinwiddie, NBA athlete and co-founder of Calaxy, and Solo Ceesay, co-founder and CEO of Calaxy, discuss the latest for the web3-focused app. In the wide-ranging interview, Dinwiddie and Ceesay explain the new feature for sending crypto or NFTs on the app, discuss digital asset markets and provide their 2024 outlook for web3.

Persons: NBA's Spencer Dinwiddie, Calaxy, Spencer Dinwiddie, Ceesay, Dinwiddie Organizations: NBA, Calaxy

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailARK launches new crypto-focused ETFs in 21Shares partnership: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Spencer Dinwiddie, NBA athlete and co-founder of Calaxy, and Solo Ceesay, co-founder and CEO of Calaxy, discuss the latest for the web3-focused app. In the exclusive interview, Dinwiddie and Ceesay explain the new feature for sending crypto or NFTs on the app, discuss digital asset markets and provide their 2024 outlook for web3.

Persons: explainers, Spencer Dinwiddie, Ceesay, Dinwiddie Organizations: CNBC Crypto, CNBC, NBA, Calaxy

☆ Immutable's Robbie Ferguson discusses the future of web3 gaming
▼ + stars: | 2023-11-08 | by ( Talia Kaplan | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailImmutable's Robbie Ferguson discusses the future of web3 gamingRobbie Ferguson, a co-founder and the president of Immutable, breaks down his vision for the future of gaming and explains what's hindering adoption of web3 gaming.

Persons: Immutable's Robbie Ferguson, Robbie Ferguson

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRobinhood reports 55% drop in crypto trading revenue in Q3: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Robbie Ferguson, a co-founder and the president of Immutable, breaks down his vision for the future of gaming and explains what's hindering adoption of web3 gaming.

Persons: explainers, Robbie Ferguson Organizations: CNBC Crypto, CNBC

☆ Bored Ape creator investigates claims that guests at its NFT event suffered agonizing eye problems because of UV lights on the stage
▼ + stars: | 2023-11-06 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Yuga Labs said it's investigating reports of eye problems by people who attended a recent NFT event. It said it was reaching out to attendees of the ApeFest event in Hong Kong to learn more. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementBored Ape creator Yuga Labs said it was aware that some visitors to its ApeFest NFT event last week have reported suffering from painful and burning eye problems. AdvertisementAdvertisementA video shared on X from the ApeFest event showed bright pink lights fitted around the stage and aimed towards the crowd.

Persons: Bloomberg, —, Evan Luthra, Hajime Sorayama, Hypebeast Organizations: Service, Yuga, Bloomberg, photokeratitis, Hong Kong Free Press Locations: Hong Kong, Hong

☆ Silicon Valley Shrugs Off Sam Bankman-Fried’s Trial
▼ + stars: | 2023-11-02 | by ( Erin Griffith | More About Erin Griffith | ) www.nytimes.com time to read: +1 min

In the four weeks that Sam Bankman-Fried, the founder of the FTX cryptocurrency exchange, was on trial on fraud charges, the tech industry:Reacted to the war in Israel and Gaza, including protesting a tech conference organizer’s social media posts about the conflict. Buzzed over a manifesto from a top venture capitalist outlining a list of enemies to technological progress. Scrambled to invest money in the hottest artificial intelligence company, OpenAI, at triple its valuation earlier this year. Hotly debated the new features on Threads, a social media site owned by Meta. But a simpler answer could be that the tech industry has again done what it does best: move on to the next thing.

Persons: Sam Bankman, Bankman Organizations: Meta Locations: Israel, Gaza, FTX

☆ Unlocking the future of the web
▼ + stars: | 2023-11-02 | by ( Sponsor Post | Created Insider Studios With Pwc | ) www.businessinsider.com time to read: +8 min

Web3 technologies, like extended reality and crypto, allow Chipotle to offer more rewarding and innovative loyalty programs. The current bear market in crypto and web3 has been a good thing for customer experiences. Once the goal is clear, this will guide which web3 technologies and strategies can form the right solution. It's a promising new technology that has the potential to revolutionize the way businesses interact with customers. Crucially, web3 isn't a "nice-to-have": It's something all businesses need to adopt to thrive in the future.

Persons: web3, John Rolston, Web3, Rolston, Chipotle, We're, Matthew Blumenfeld, " Blumenfeld, Katie Forrest, Forrest, It's Organizations: Gen, Insider Studios Locations: cryptocurrency, web3

☆ Storylines Residential Cruise Faces Backlash From Investors, Ex-Employees
▼ + stars: | 2023-11-01 | by ( Kate Taylor | Brittany Chang | ) www.businessinsider.com time to read: +31 min

Storylines' first cruise ship was initially scheduled to launch in 2019; it's now set for December 2026. Nine former employees, consultants, and investors told Insider that they'd come to doubt the MV Narrative would ever be built. The only existing residential cruise ship is The World. Many Storylines buyers remain optimistic about the residential cruise ship. "The ball is in your court," Punton told buyers in July in a video that's since been taken down.

Persons: Alister Punton, Punton, Shannon Lee, Mike Kasperzak, Jim Holt, Holt, Angela Nuran, Paul Cosentino, Cosentino, We're, Lee, it's, Alexandre Caillol, Condé, superyachts, Sean Fremder, Weeks, Caillol —, —, Marco Polo —, PitchBook, Alexandra Zodian —, Caillol, Michael Edwards, Edwards, he'd, Martin Buggy, Melissa Edyvean, Edyvean, Paul Read, Salvatore R, Mercogliano, Pat Helmers, Helmers, Michael Perisi, Andrew Lentz, didn't, Lentz, Wrocław . Lentz, Andrew, I'm, Lee ., Dick Rosman —, Lee —, Krzysztof Kontek, Kontek's, Michal Jackiewicz, Brodosplit, Brian Martin, Read, Nuran, We've, he's, New Zealand —, Kasperzak, " Lentz Organizations: Punton, Army, West —, Industry, CNN, Brodosplit, Regent Seven Seas, Wall Street Journal, Korea's Samsung Heavy Industries, Utopia, Beverly Hills, Rock City, The Raiders, Raiders, Holland America's, Mariners, New Zealand Locations: massages, Croatian, Beverly, Punton, Queensland, Australia, Broadbeach, California, Rock, Brisbane, Netherlands, Caillol, Polynesia, French Polynesia, France, London, Australian, British, Delaware, Sweden, Tahiti, Perth, Ecuador, Poland, Wrocław, Mexico, Florida, New

☆ This DeFi founder pulled his money out of FTX a month before it collapsed—here's his top advice for crypto traders
▼ + stars: | 2023-10-16 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

On Nov. 11 2022, cryptocurrency exchange FTX filed for bankruptcy after users withdrew around $6 billion in funds from the exchange and Binance, a competing offshore crypto exchange, backed out of a deal to buy the company. He publicly raised concerns about FTX's financial health about a month before the company's multibillion-dollar implosion. At that time, the crypto craze had soared to a fever pitch and the entire crypto market was valued around $3 trillion. However, despite the hype surrounding FTX, Bhaidani says that the numbers just weren't adding up at the time. Since exchanges typically earn revenue by charging traders transactions fees, this would mean that revenue was down for the company as well, he says.

Persons: FTX, Sam Bankman, Ishan Bhaidani, wasn't, Bhaidani Organizations: CNBC, Miami Heat Locations: Manhattan, FTX

☆ Ether to soar to $8,000 in 3 years and eventually may hit $35,000, predicts Standard Chartered
▼ + stars: | 2023-10-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

A report out Wednesday argues that the price of the ethereum cryptocurrency may eventually climb as high as $35,000. "Layer 2 scaling solutions … are likely to grow in importance over time, particularly as architecture upgrades expected in early 2024 sharply lower fees on these platforms. ETH.CM= 1Y mountain Ether (ETH) over the past year That valuation assumes future use cases and revenue streams that may not exist yet, Kendrick noted. He highlighted gaming and tokenization of real-world assets as the next big use cases for the network. Standard Chartered expects "significant developments on these fronts by 2025-26," Kendrick said.

Persons: ethereum, Geoff Kendrick, Kendrick, — CNBC's Michael Bloom Organizations: Chartered, ETH Locations: Solana, Cardano, London

☆ The NFT market may be nearly worthless - but Starbucks is hoping there's appetite for digital pumpkin spice lattes
▼ + stars: | 2023-10-06 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Starbucks is selling pumpkin spice latte NFTs to commemorate the 20th anniversary of the seasonal beverage. The $20 digital stamps came out on Thursday via Starbucks Odyssey, the company's Web3 platform. A analysis emerged in September that showed 95% of the NFT market may now be worthless. AdvertisementAdvertisementLast December, Starbucks gifted free NFT stamps to members, and some of those resold for $1,900 each on secondary markets. Starbucks, however, may be an outlier player in the digital asset space as the broader NFT market was recently found to be mostly worthless.

Persons: — Organizations: Starbucks, Starbucks Odyssey, Service

☆ I moved to Dubai when Russia invaded Ukraine. The cost of living is extreme, but it's very safe and I love living here.
▼ + stars: | 2023-10-04 | by ( Jen Glantz | ) www.businessinsider.com time to read: +7 min

Despite the high cost of living, air pollution, and quality of the running water, she loves Dubai. AdvertisementAdvertisementThis as-told-to essay is based on a conversation with Mary Pedler, the 29-year-old founder of a PR agency who moved to Dubai when Russia invaded Ukraine. I feel safe raising my daughter hereMary Pedler and her daughter in Dubai. The higher cost of living is a trade-off I'm willing to acceptAnother downside is the cost of living in Dubai. I don't know where I'll be in 10 years, but for now, I'm happy with my life in Dubai.

Persons: Mary Pedler, —, I've, It's Organizations: Service Locations: Moscow, Dubai, Russia, Ukraine, Miami, London, America, Europe

☆ Meta has Apple to thank for giving its annual VR conference added sizzle this year
▼ + stars: | 2023-09-30 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +7 min

The iPhone maker in June announced its Vision Pro mixed-reality headset at an eyepopping price of $3,499 when it goes on sale next year. "There's curiosity for sure with Apple entering the market," said Tom Symonds, CEO of the UK-based VR firm Immerse. Apple CEO Tim Cook stands next to the new Apple Vision Pro headset. At its high price point, the Vision Pro will likely be more of a product for businesses, Seitz said. Initially, the price is too high and the Vision Pro will require users to wear a battery pack, creating an added nuisance during a workout.

Persons: Andrew Bosworth, Josh Edelson, Mark Zuckerberg, it's, Tom Symonds, Meta, Zuckerberg, Tim Cook, Justin Sullivan, Aneesh Kulkarni, Kulkarni, Josette Seitz, Seitz, Gaspar Ferreiro, Apple, Ferreiro, Jeffrey Morin, Morin, Litesport, " Morin, Apple's Organizations: Facebook, Meta, AFP, Getty, VR, Menlo, Apple, Street, Apple Vision, Baltu Technologies, Car Studios, Vision Locations: Menlo Park , California, Web3, billings

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin dips back below $27,000 while Ether inches closer to $1,700: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Sergey Nazarov, co-founder of the web3 services platform Chainlink, explains what can help prevent another crypto firm failure ahead of the trial of the crypto exchange's founder Sam Bankman-Fried.

Persons: explainers, Sergey Nazarov, Sam Bankman Organizations: CNBC Crypto, CNBC

☆ Chainlink's Sergey Nazarov explains what can prevent another FTX-like meltdown
▼ + stars: | 2023-09-29 | by ( Talia Kaplan | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChainlink's Sergey Nazarov explains what can prevent another FTX-like meltdownSergey Nazarov, co-founder of the web3 services platform Chainlink, explains what can help prevent another crypto firm failure ahead of the trial of the crypto exchange's founder Sam Bankman-Fried. He also discusses what's needed to avert more crypto hacks.

Persons: Sergey Nazarov, Sam Bankman

☆ JPMorgan's UK digital bank blocks customers from buying crypto
▼ + stars: | 2023-09-26 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Chase UK, the British challenger bank brand of JPMorgan, has blocked customers in the U.K. from purchasing crypto assets. The company said in a statement Tuesday that, starting Oct. 16, Chase UK customers would "no longer be able to make crypto transactions via debit card or by outgoing bank transfer." Chase UK cited data from Action Fraud, Britain's fraud reporting agency, that showed U.K consumer losses to crypto fraud increased by over 40% in the last year, surpassing £300 million for the first time. Chase UK is the latest bank in the country to take steps to limit the ability of their customers to purchase cryptocurrencies. "We're committed to helping keep our customers' money safe and secure," a Chase spokesperson told CNBC via email Tuesday.

Persons: Chase, We're Organizations: Chase, JPMorgan, Wales, Office, National Statistics, cryptocurrencies, NatWest, HSBC, Nationwide, CNBC Locations: England

☆ Ethereum founder Vitalik Buterin travels the globe to keep crypto alive as the U.S. cracks down
▼ + stars: | 2023-09-22 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +17 min

Today, the biggest challenge for Buterin and the ethereum community is making sure that it provides actual value to people. Buterin was named the world's youngest crypto billionaire at age 27 as the crypto market swelled to its peak in 2021. And he isn't, according to his own estimation, the be-all and end-all authority on the ethereum network. About the ethereum network, he says, "On the other hand, you've got your laptop. In terms of what's next for ethereum — Buterin says a big priority is focusing on privacy and scalability through zero-knowledge rollups.

Persons: Vitalik Buterin, Buterin, coder, doesn't, Czech Republic Pavel Sinagl, that's, clasped, Buterin wasn't, cryptocurrencies, Sam Bankman, Luna, they're, Dmitry, Vitalik, Dmitry Buterin, ethereum blockchains, you've, Satoshi Nakamoto, ethereum, — Buterin Organizations: CNBC PRAGUE, CNBC, Canadian, U.S . Tornado, Buterin, U.S, Securities and Exchange Commission, SEC, CFTC, People's Bank of China, tinker, Ethereum, Ethereum Foundation Locations: Prague, Russia, Czech Republic, Ukraine, Netherlands, Paralelní Polis, Holešovice, China, U.S, Africa, Argentina, Buenos Aires, San Francisco, CBDCs, Moscow, ethereum, Denver, Paris

☆ Web3 music platforms are combining new tech with Web2 features to give artists better compensation and 'create dope consumer experiences'
▼ + stars: | 2023-09-18 | by ( Diana Umana | ) www.businessinsider.com time to read: +12 min

Web3 music platforms are changing the industry, giving artists better payouts and ways to reach fans. Orin FleurimontThe importance of direct-to-consumer offerings for music artists has never been more evident. It also uses familiar terminology throughout its platform and in marketing, similar to what one would find on traditional music platforms. The benefit of this hybrid approach is clear: In April, when much of the Web3 music space faced uncertainty, Even closed its $2.2 million seed round. Safeguarding security and enhancing educationWhile integrating Web3 and Web2 experiences on music platforms offers promising benefits, there are drawbacks and areas for improvement.

Persons: Tanerélle, Orin Fleurimont, Web3, Mag Rodriguez, Weston Rich, Rodriguez, Eric Bellinger, Shaun, Snoop Dogg, Tayla Parx, Bobby Shmurda, Andreessen Horowitz, Sound.XYZ, David Greenstein, Pablo Sáez David Greenstein, Brett Shear, Christopher Lee, Erin Leydon, Lee, merch, Vérité, IYK, Jamie Kim, Audius Organizations: Service, Spotify, Apple, PTC, Investments, IYK, IRL, Atlantic Records, NFC Locations: Wall, Silicon, Web3, Sound.XYZ

☆ What it's like in Europe's popular crypto haven Portugal as the U.S. cracks down
▼ + stars: | 2023-09-09 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +19 min

They understood the importance of self custody of bitcoin, bitcoin on bitcoin blockchain, not on other chains." Sunrise over Lisbon, Portugal Alexander Spatari | Moment | Getty ImagesThe San Francisco of EuropeA walk through Portugal's capital feels eerily similar to a stroll in San Francisco. "This makes Portugal a really attractive place for crypto users to live," explained Shehan Chandrasekera, a CPA and head of tax strategy at crypto tax software company CoinTracker.io. The only exception to the country's generous crypto scheme relates to companies registered in Portugal that deal in crypto. Cyclists photographed in Lisbon, Portugal, in October 2018.

Persons: Alexander Spatari, PORTUGAL —, maximalists, Lorenzo Primiterra, He's, Peter Pan, Primiterra, Terra Luna, bitcoin, solana, Greenfield, Portugal Alexander Spatari, Jemson Chan, Chan, CNBC Guy Young, Seb True, CNBC Seb, True, That's, it's, bitcoiners, I've, Stephen Knowles, cryptocurrencies, Shehan Chandrasekera, Katie Ananina, Ethena's Young, —, Deley, Deley doesn't, that's, Didi Taihuttu, They've, Taihuttu Organizations: Campo Pequeno, maxis, CNBC Software, CNBC, titans, Securities and Exchange Commission, British, Abril, European, CPA, Cyclists, European Union, D7, Companies, Algarve Locations: LISBON, PORTUGAL, Lisbon, Italy, Portugal, Almada, Lisboa Region, outranking New York, Berlin, Singapore, European, Sunrise, San Francisco of Europe, San Francisco, bitcoin, Europe, Crypto, U.S, Egypt, Asia, Switzerland, it's, Puerto Rico, Australia, Canada, Ghent, Belgium, cryptocurrency, Cryptocurrencies, Lisbon's, Lagos, Angeles, Algarve

☆ The cofounder of Fanhouse explains why she resigned from the startup and what she would have done differently if she started it today — including not raising VC funding
▼ + stars: | 2023-09-06 | by ( Shriya Bhattacharya | ) www.businessinsider.com time to read: +6 min

Creator Rosie Nguyen started Fanhouse in 2020 with two other cofounders. Nguyen explains what she would do differently as a founder if she were building the startup today. Nguyen launched Fanhouse in 2020 as a subscription platform for creators to monetize, share exclusive behind-the-scenes content, and connect with top fans. The added investments helped Fanhouse in many ways, like hiring more staff and paying creators more money through the platform. She'd also tap into equity crowdfunding like creator startup Gumroad did.

Persons: Rosie Nguyen, Fanhouse, Nguyen, Lucy Guo, @jasminericegirl, Khoi Le, Jerry Meng, VCs, Jeff Morris Jr, Andreessen Horowitz, She'd, she'd, Le, Meng, shouldn't Organizations: Twitter, Investors, didn't Locations: American, Los Angeles, Fanhouse, VCs

☆ Cash in or lose out: Banks are turning to AI, cloud computing, and Web3 to gain competitive advantage and customer loyalty
▼ + stars: | 2023-09-05 | by ( Nicholas Fearn | ) www.businessinsider.com time to read: +11 min

AI and cloud tech are giving some banks an edge over competitors and enticing brand loyalty. Traditional banks that ignore this reality risk losing loyal customers to digital banks that have emerged over the past few years, research suggests. Digital transformation is a must for banksWith online banking now the norm, digital transformation is no longer optional for banks. Legacy banking systems were not designed to provide the banking experience that people expect today," she said. As a result, banking customers and employees can view transactions in real time and deliver "a more seamless and personalized experience" for all stakeholders, she added.

Persons: Banks, Victoria Newton, Newton, Laura Merling, Merling, Jay Venkateswaran, WNS, Eno, Goldman Sachs, Nigel Vaz, Publicis, Publicis Sapient Nigel Vaz, Venkateswaran, Vaz, James Whybrow Organizations: Service, Starling Bank, Arvest Bank, Banking, Capital One, Microsoft, Bank of America, Amazon Web Services, Google, Economist Intelligence Unit, Arvest, Software AG, Software Locations: Wall, Silicon, It's, Starling, WNS, Morgan

While breezy bitcoin has bounced back, leaping by about 55% this year, investments in crypto startups have dropped for the fifth straight quarter. VC crypto bets totaled just under $2.3 billion in April-July this year, the lowest quarterly level for over three years, according to data firm PitchBook. In the first half of 2023, investments were down by almost three-quarters from a year ago to $5 billion. Those that are raising capital now are probably doing it because they have to," said Adam Reeds, CEO of Toronto-based crypto finance company Ledn. VC crypto investments have correlated with crypto asset prices with a lag of roughly three to six months, according to PitchBook, and if current trends continue, VC investment would rise during the second half of 2023.

Persons: Dado Ruvic, Tal Elyashiv, Crypto, Cameron Peake, Adam Reeds, Alyse Killeen, Medha Singh, Lisa Pauline Mattackal, Tom Wilson, Pravin Organizations: REUTERS, Arrows Capital, Restive Ventures, LayerZero, Thomson, Reuters Locations: Toronto, Bengaluru

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