Speaking of a16z, the venture capital giant announced a new US$4.5 billion dollar crypto fund, which is more than double the size of its last fund. The sharp decline in crypto prices over the past few weeks doesn’t seem to phase those behind the fund — a16z says it remains steadfast in its conviction and is focused on the long term.
StarkWare Industries, which provides IT consulting and services to make blockchains more scalable, has raised US$100 million in a Series D funding round putting it at a US$8 billion valuation. This is up from the US$2 billion valuation at its last fundraising in November 2021.
The dust has barely settled following UST/LUNA’s cataclysmic collapse earlier this month, but the protocol’s founder has confirmed
that Terra 2.0 😱 is set to launch this week. CoinDesk provided a breakdown
of what the revival plan looks like. Meanwhile, blockchain analytics firm, Nansen
, undertook an investigation
to find out exactly what led to UST de-pegging in the first place. Another important thing to note: On Wednesday, Ethereum co-founder Vitalik Buterin, shared his thoughts
on whether algorithmic stablecoins like UST are sustainable. If you ask us, we think it’s too soon for a Terra comeback tour. 😬
European Central Bank (ECB) President Christine Lagarde is known to be a fierce critic of cryptocurrencies and says she won’t go near digital assets. However, she recently told an audience during a college tour that her son invests in crypto. Interesting.