New Multimillion Crypto Investment Rounds, Binance Withdrawals + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
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Investments news

• Major Bitcoin miner Genesis Digital Assets has announced a USD 125m round of equity funding to purchase equipment and build new data centers in the United States “and nordic region.” The funding round comes from Kingsway Capital, a UK-based private equity fund focused on frontier emerging markets with over USD 2bn in assets under management, the mining company said.
• BTC rewards company Lolli said it has closed a USD 10m Series A financing round led by Acrew Capital. The financing will contribute to the expansion of the company, hiring, new partnerships, and further development of the recently launched mobile app, they said.
• Fintech product Eco has announced a USD 60m fundraising round led by investment firms Activant Capital and L Catterton and joined by existing investors like a16z Crypto. The project had previously raised USD 26m in a funding round in March.
• Crypto mining firm Stronghold Mining is seeking to raise USD 100m in an initial public offering (IPO), according to regulatory documents. Stronghold is moving to expand the scope of its operations with additional generation facilities that process waste coal, which has most of its toxins eliminated, producing fly ash that can later be used as a fertilizer, they said.
• “Multichain relayer infrastructure network” Biconomy said that it has raised USD 9m in a private funding round led by investment firms DACM and Mechanism Capital. The funds will help the company further scale its current products, ensure multichain transaction infrastructure, and make essential technological developments, they said.
• Trading app Robinhood is working on a new feature that will help protect users from crypto price volatility, Bloomberg reported. The feature, called “price volatility protection”, has a message in the code that reads, “To protect your orders against price volatility, we may sometimes skip your recurring orders or buy less than your chosen amount.”

Exchanges news

• Binance is lowering their daily withdrawal limits from BTC 2 to BTC 0.06 (c. USD 2,000) for accounts that have only passed their Basic account verification, CEO Changpeng Zhao said, adding that this step is part of their efforts to comply with regulations by enhancing their know-your-customer efforts.

Regulation news

• The Malta Office of the Commissioner confirmed it has found the accounts filed by the Binance Blockchain Charity Foundation for the years 2018, 2019, and 2020, originally submitted in September 2020, according to Times of Malta. This finding comes after the watchdog had warned the foundation that they would pursue legal action over the supposed failure to submit, but as the mistake was on their part, no such action will be taken, per the outlet.
• Robinhood is facing an investigation over CEO Vlad Tenev’s failure to register with the US Financial Industry Regulatory Authority (FINRA), per a regulatory filing. “Robinhood is evaluating this matter and intends to cooperate with the investigation,” the firm said.

CBDCs news

• Nigerian central bank governor said that the country is planning to launch its own digital currency (CBDC), called the “e-naira”, in October, per Reuters.
• Eesti Pank, the Estonian central bank, said it carried out a research project into the technical possibilities for a digital euro alongside the European Central Bank and seven other central banks of the euro area and found that “the innovative digital euro technology based on the blockchain is highly scalable” and also provides “a good balance between privacy and the need to meet anti-money laundering requirements.”

Career news

• SEBA Bank, a Financial Market Supervisory Authority (FINMA) licenced Swiss Bank, has announced it has appointed Sam Lin as their Asia CEO. Lin has over 15 years of experience in investment banking at Credit Suisse and Barclays, and his appointment serves to demonstrate the bank’s intent to offer digital asset banking services in Asia, they said.