Blockchain
Shiba Inu raises $12 million in token round for its new blockchain
The team behind the well-known memecoin Shiba Inu (SHIB +2.03%) has raised $12 million by selling its yet-to-be-released token, TREAT, to venture capital investors outside the United States. These investors include Polygon Ventures, Mechanism Capital, Big Brain Holdings, Shima Capital, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures, Stake Capital, and Comma 3 Ventures, as announced by Shiba Inu on Monday.
Although some of these investors, like Mechanism Capital and Shima Capital, seem to be based in the U.S., Shiba Inu’s lead developer, known as Shytoshi Kusama, stated that none of the investors are U.S.-based, although full entity names may not be disclosed when questioned.
The fundraising for this round began a few months ago and concluded earlier this month, according to Kusama. However, he declined to comment on the valuation. Still, a source with direct knowledge of the matter revealed that it was a staged round, with each stage occurring at valuations of $75 million, $100 million, and $200 million, respectively.
Kusama mentioned that the token round includes both pre-seed and seed rounds.
The TREAT token, according to Shiba Inu, will function as the “utility and governance token” of its new privacy-focused Layer 3 blockchain, which is being constructed on Shibarium, its Ethereum Layer 2 blockchain.
TREAT will be the last non-stable token from the Shiba Inu ecosystem, said Kusama, adding that the ecosystem will introduce a new token called Shi later this year. The ecosystem currently includes popular tokens like the SHIB memecoin, BONE, Shibarium’s governance token, and LEASH. Despite the fact that the TREAT token has not been released yet, CoinGecko and CoinMarketCap are already displaying some trading volume for certain TREAT tokens. Kusama referred to this as a “scam.” The genuine TREAT token will be minted by The Shiba Inu Mint S.A., a Panama corporation, according to Kusama.
Shiba Inu is developing its new Layer 3 blockchain using fully homomorphic encryption technology from cryptography company Zama, which recently raised $73 million in funding. FHE is considered the “holy grail” of cryptography, enabling end-to-end data encryption, even during processing. “This new encryption chain aims to address multiple issues in crypto, including privacy and trust for Shiba Inu’s extensive community of tens of millions and the next billion crypto-curious individuals,” said Shiba Inu.
The new blockchain is intended to comply with regulatory requirements. “It’s important that we maintain a project that conforms to international law while protecting the privacy of data, and security of individuals,” Kusama said. “By allowing people to both be private yet still gain credentials to verify their identity, our entire system extends security and compliance at the same time.”
Kusama declined to disclose the name of the Layer 3 blockchain to “ensure that there are no scammers” like fake TREAT tokens.
The new blockchain is scheduled to release a testnet in the third quarter of this year and the mainnet “after thorough testing,” according to Kusama.
Source: theblock.co
The post Shiba Inu raises $12 million in token round for its new blockchain appeared first on HIPTHER Alerts.
bybit lucky
Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
-
Blockchain4 days agoBridging Innovation and Regulation: How Yellow Network is Transforming Non-Custodial Trading in a Pro-Crypto Future
-
Blockchain6 days ago
Prosper Adds 7,000 More ASIC Miners from BITMAIN To Drive Tokenization of Hashrate as Multichain RWA ; Targets 170MW Capacity With New Strategic Round
-
Blockchain Press Releases5 days agoHTX Ventures Identifies Five Rapidly-Growing Sectors in 2024, Expects Positive Crypto Regulations Driven by Trump Next Year
-
Blockchain5 days ago
Blocks & Headlines: Today in Blockchain (Reserve Bank of India (RBI), Aethir, Blockchain Center Abu Dhabi, Qubetics, )
-
Blockchain2 days ago
50,000+ Mined Coins and 100,000 New Users: EMCD Summarizes 2024
-
Blockchain6 days agoLoan Brokers Market Opportunities and Strategies Report to 2033 – Loan Brokers Market Poised for Strong Growth, Forecasted to Reach $947.9 Billion by 2033
-
Blockchain4 days agoBuilding Bridges in Crypto: Bybit Sparked Dialogues and Joined Industry Leaders at Bitcoin MENA
-
Blockchain Press Releases5 days agoBybit Concludes a Stellar Presence at Global Blockchain Show 2024: Pioneering Innovation for 2025
