$120 Billion Wiped From Market With Bitcoin.com Launching Token VERSE

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Crypto industry champion Bitcoin.com has raised $33.6 million in a private sale of its VERSE token.

The company provides cryptocurrency exchange services, educational resources, non-custodial wallet, and news about crypto and blockchain.

Bitcoin.com said the token rewards users for participating in its ecosystem, such as buying, selling and exchanging digital assets.

Strategic investors include Digital Strategies, Blockchain.com, Kucoin Ventures, Redwood City Ventures, 4SV and Boostx Ventures. Individual investors Jihan Wu, Roger Ver and David Wassman also participated.

A general token sale will follow this summer.

“Since 2015, Bitcoin.com has been a pioneer in introducing newcomers to crypto and guiding them through their crypto journey,” said CEO Dennis Jarvis. “To date, we have built an amazing suite of products and services with over 4 million monthly active users and 30 million self-created wallets.

“Today, we are proud to announce VERSE, a utility and reward token for everyone who participates in the Bitcoin.com Verse ecosystem.

“VERSE is user centric and adds tremendous value across our suite of crypto products and services including the Bitcoin.com self-wallet app, Bitcoin.com Exchange, Verse DEX, Bitcoin.com News, and our upcoming crypto feature. Credit Card. We are also excited. Very much to announce the public sale of the Verse token, which is set to begin in June.”

Zora raises $50 million for NFT Tools Protocol

Non-fungible token startup Zora has raised $50 million in seed funding to boost the NFT Instruments protocol.

The round was led by Haun Ventures – the first investment by a Web3 fund led by Katie Haun, formerly of Andreessen Horowitz – with participation from Coinbase Ventures and Kindred Ventures.

Zora is publicly available and focused on providing accessible tools for creating independent NFT sets and marketplaces for artists and businesses. It was used in the $4 million sale of DOGE NFT last September as well as NFT’s dating show “Mad Realities”.

Cryptocurrency Shorts

New research claims that 33% of Britons have invested in cryptocurrency at some point, up 4% in six months and second behind the Netherlands’ figure of 47% in Europe.

Cryptocurrency exchange Binance contributed $500 million to Elon Musk’s $44 billion purchase of Twitter.

Days after two of Argentina’s largest banks – Banco Galicia and Brubank – announced plans to allow customers to buy and sell cryptocurrencies, the Central Bank of Argentina (BCRA) banned them to mitigate the risks of cryptocurrency to users and “the financial system” as a whole.

A federal judge has fined the three founders of BitMEX — Arthur Hayes, Benjamin Delow and Samuel Reed — $10 million each for operating an illegal crypto-derivatives platform and violating money laundering rules.

Free mobile game publisher Tilting Point will partner with Polygon Studios to launch 10 Web3 games over the next two years.

LootRush, an accessible blockchain gaming hosting platform, has raised $12 million in an initial funding round led by Paradigm with the participation of Andreessen Horowitz. It also provides an NFT rental service for game play, which lowers the cost for a new player and earns revenue for the NFT owner.

Cryptocurrency rates

The total market value of more than 19,300 coins is $1.68 trillion, down 7% in the last 24 hours, equivalent to a $120 billion loss.

Bitcoin Market Leader – TThe original cryptocurrency created by the mysterious Satoshi Nakamoto – fell 8% to less than that $36,500 at the time of writing (7:30am UK). BTC is Down 8% in a week.

Ethereum, the second most valuable cryptocurrency – Created as an advertisementA decentralized network of smart contracts on the blockchain – down 6% to around $2,750. ETH is down 6% over the course of a week.

Binance Coin is a file A cryptocurrency created by popular crypto exchange Binance to help achieve its goal of becoming an infrastructure service provider for the entire blockchain ecosystem. Its BNB token lost 6% to $379, leaving it down 7% over the course of seven days.

XRP token for Ripple, A system of exchange and transfer of payments settlement assets, Serves as a bridge for transfers between other currencies. XRP fell 6% to below 61 cents, leaving it down 5% over seven days, but moved above Solana in the market cap valuation chart.

Solana is a blockchain created to make decentralized finance more widely accessible – capable of processing 50,000 transactions per second. His SOL token sank 11% towards $83 and down 15% from last week.

Terra, which is billed as a programmable money for the internet, lost 6% to less than $81. Its payment code for LUNA is 6% less than its price a week ago.

Cardano is an open source network that facilitates dApps which consider themselves an updated version of Ethereum. Its ADA token, designed to allow owners to participate in the operation of the network, fell 9% to 79c. It is down 5% over the course of the week.

Meme coin DOGE was created to satirize the hype surrounding cryptocurrency, but is now a major player in the field. DOGE’s stock fell 5% to below 13°C, leaving it down 9% in a week.

Avalanche, a lightning-fast verifiable platform for corporations, businesses and governments, came out of nowhere months ago to break into the top 10 coins. that it AVAX token is down 12% to $59 and down 12% in a week.

Polkadot was founded by the Switzerland-based Web3 Foundation as an open source project to develop a decentralized network. Its DOT token, which aims to connect the blockchain securely, is down 11%. to $14.54 which is 14% less than its price a week ago.

To see how major currency valuations have changed recently – and for a summary of the latest crypto news – click here.

For ratings of the top 250 coins by market cap as well as 24-hour price change and trading volume, see below.

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