The Block
Quick Take Praxis, which bills itself as the world’s first “Network State,” announced it has secured $525 million to build a tech-forward city that will support the development of crypto, artificial intelligence, energy and biotech. Investors in the round include Arch Lending, GEM Digital, Manifold Trading, and angels like Farcaster CEO Dan Romero and Worldcoin co-founder Max Novendstern. The project has previously raised money from Paradigm, Alameda Research and Three Arrows Capital.
Quick Take A new organization called Women in web3 Privacy gives women the tools and knowledge to navigate the largely male-dominated crypto industry.
Yesterday, Harris vowed to support a crypto regulatory framework that protects Black men investing in and owning cryptocurrency.The comments coincided with a spike in bitcoin’s price and $555 million entering Bitcoin ETFs on Monday.
Quick Take JPMorgan analysts have turned bullish on the crypto market, projecting a positive outlook for 2025. This optimism is underscored by several key factors, including the potential return of Donald Trump as U.S. president, which could influence investor sentiment and market dynamics.
Quick Take Digital asset prime broker FalconX has launched an “electronic streaming service” that will liquidate crypto mining rewards to streamline “the reinvestment process.”
Bitcoin derivatives exchange Bitnomial announced it has raised $25 million in a funding round led by Ripple.Bitnomial also said it has launched a futures trading platform in the U.S. called Botanical.
Qualified investors can now subscribe to BlackRock’s BUIDL fund by converting USDC to U.S. dollars via an integration between tokenization firm Securitize and crypto infrastructure provider Zero Hash.The move comes as BUIDL, the largest tokenized fund, surpassed $550 million in assets under management for the first time.
Quick Take Canary Capital says Litecoin will be “attractive to a wider range of institutional investors.” Bloomberg ETF analyst James Seyffart said Litecoin could be similar in the regulatory sense to bitcoin.
The Sui Foundation rebutted social media allegations of $400 million worth of insider selling on the open market during the recent Sui token price surge.Bernstein analysts attribute bitcoin’s recent price surge above $66,000 to its correlation with rising odds of Donald Trump winning the 2024 U.S. presidential election.U.S. spot Bitcoin ETFs saw net inflows of $555.9 million on Monday, the largest since June 4, with no net outflows reported by any fund.The following article is adapted from The Block’s news
Quick Take Opacity Network developer has raised $12 million in a seed funding round. The network leverages zero-knowledge proofs for data verification.
