New $560M Crypto Fund, Binance CEO Chelsea Eyed Abramovich, Visa & Mastercard Fees + More News

New $560M Crypto Fund, Binance CEO Chelsea Eyed Abramovich, Visa & Mastercard Fees + More News

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Get your daily digest of crypto-asset and blockchain-related news – by investigating stories that fly under the radar in today’s crypto news.

Investment News

  • Large start-up investment company Bain Capital Ventures announcement it is launching a $560 million fund focused exclusively on crypto-related endeavors. The fund will support the companies it invests in with key economic and technical decisions, participate in on-chain governance and provide liquidity, where needed, at all stages of capital, they added.
  • Binance CEO Changpeng Zhao discussed buying Russian billionaire Roman Abramovich’s Premier League football club chelsea but ruled out such a deal, Reuters reportedquoting a Binance spokesperson.
  • the avalanche Foundation noted it launched Avalanche Multiverse, an incentive program of up to $290 million (up to 4 million AVAX) focused on accelerating the adoption and growth of its new “subnet” feature , which is expected to enable a rich ecosystem of application-specific scalable blockchains. Initially, the program is focused on supporting new ecosystems, including but not limited to blockchain-enabled games, DeFi, NFTs, and institutional use cases, they added.
  • Cardano (ADA) native decentralized exchange (DEX) Wing Riders announcement a seed and private funding round of undisclosed value that included investors Animoca brands, matrix port, Spark Digital Capital, Double peakand Bitrue.
  • Bitcoin mining startup blockmetrix says he has raised $43 million in Series B equity, bringing total venture capital funding to $50 million. The funding will be used to expand Blockmetrix’s hyper-growth strategy, primarily by securing digital asset mining platforms, they added.
  • VanEck ETF Trust deposit with the United States Security and Exchange Commission for the VanEck Digital Assets Mining ETF that would track the performance of digital asset mining companies. The fund will not invest in digital assets (including cryptocurrencies) directly or indirectly, through the use of digital asset derivatives, or initial coin offerings, they added.

Payments News

  • Payment providers Visa and MasterCard are preparing to increase the fees that many large merchants pay when they accept credit cards from consumers, according to the Wall Street Journal reported. The fee increases are expected to take effect next month, according to people familiar with the matter and a document seen by The Wall Street Journal.

News from the war in Ukraine

  • Crypto exchange noted he is donating $1 million to support the humanitarian crisis in Ukraine. The funds will be distributed to four charities: The Red Cross Society of Ukraine, The Humanitarian Aid Fund under the supervision of the Ukrainian Ministry of Social Policy, Rescue as soon as possible, and Global donations. (Learn more: How to donate responsibly to Ukrainian causes)
  • Binance announcement it will make Mastercard and Visa cards issued in Russia unavailable on the exchange as of March 9, 2022. The exchange added that all transactions initiated with Mastercard and Visa cards by financial institutions outside of Russia will also be unavailable within the Russian Federation on Binance.
  • Thai Phuket Tourism Association (PTA) is in talks with the central Bank of Thailand research alternative payment methods, including cryptocurrency, for Russian tourists in Thailand, by the Nation Thailand, because Visa and Mastercard have suspended the use of Russian credit cards abroad.

Tokenization News

  • Spanish multinational banking giant Santander Group noted it aims to offer loans, backed by tokens based on agricultural commodities, in Argentina. The bank has partnered with a tokenization startup Agrotoken for this project.

Tax news

  • The Thai cabinet has eased tax rules for investments in digital assets to help promote and grow the industry, which will allow traders to offset annual losses against tax gains due on crypto investments. currency, and to exempt a value added tax of 7% for the trading of crypto-assets on authorized exchanges, by Reuters. The tax exemption, effective from April 2022 to December 2023, will also cover trading in retail central bank digital currency to be issued by the central bank, he added.

NFT news

  • Premier League clubs discussed a major NFT deal on Tuesday morning that would potentially see all 20 clubs in this major English football league launch officially branded digital assets within a year that could be worth hundreds of millions of pounds, The Telegraph reported.
  • Community of non-fungible tokens (NFT) women’s world and virtual game world The sandbox announcement a partnership in which The Sandbox will provide WoW Foundation with $25 million in funding over 5 years, furthering the inclusion of women through education and mentorship. The fund will provide business development opportunities across The Sandbox’s growing networks, Animoca brandsand Brinc.

Regulatory News

  • Great Britain Financial Conduct Authority (CIF) Published a warning to Binance Markets in response to Binance’s payment company Bifinity and investment company Eqonex enter into a strategic partnership. The watchdog reiterated that Binance Markets is not permitted to conduct certain regulated crypto-related activities in the UK without prior consent due to previous concerns about the company’s inability to “be effectively supervised”, claiming that some of its products posed “a significant risk”. to investors.

Trade news

  • Coinbase announcement that they introduce a new experimental etiquette on asset pages and disclosure when executing trades for certain assets with the aim of greater transparency. This will include newly created assets or lesser-known tokens that could lead to additional trading risks, including higher price fluctuations and increased order cancellations, they added.

Mining News

  • Basic scientist announcement preliminary 2021 revenue of $515-545 million, net income of $50-60 million, and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $225-235 million. The company said it mined BTC 981 last year.
  • Argo Blockchain announcement he mined BTC 135 in February 2022 compared to BTC 172 in January 2022 and added that the reduction is “due to a world record high hash rate and a subsequent increase in network difficulty.” The company also had problems at its facilities in Mirabel and Baie Comeau, Quebec, as well as in North Dakota, which suffered significant curtailments due to cold winter conditions.
  • BitNile noted that it plans to expand the power capacity of its Michigan data center to 300 megawatts, which would allow Bitcoin mining operations at the facility to operate approximately 90,000 BTC miners. Upon installation, the company’s Bitcoin mining capacity is expected to be approximately 12 PE/s, which represents an estimated annualized Bitcoin mining capacity of approximately 19,600 BTC.
  • TeraWulf started mining operations at its Lake Mariner facility in upstate New York, using more than 90% carbon-free energy, are expected to reach more than 500 megawatts of capacity when complete. The company also plans to begin mining at its Pennsylvania facility early in the third quarter of 2022, where it aims to have 300 megawatts of gross mining capacity using 100% carbon-free power when complete.

Metaverse News

  • Crypto exchange KuCoin East opening the KuCoin Meta Office, designed as a metaverse iteration of the exchange, in the Bloktopia skyscraper. KuCoin aims to celebrate the opening of the Meta Office by launching Staking and Trading campaigns with a total value of 300,000 USD in BLOK, the native token of the Bloktopia project.