Blockchain
Crypto Platform Kikitrade Completes US$8M Pre-series A Funding
Cryptocurrency social investment platform Kikitrade today announced that the company has completed Pre-series A funding of USD 8 million, co-led by Dragonfly Capital, Cherubic Ventures and Animoca Brands who also joined the Board of the Company. By providing a user-friendly, secure and fun user experience, Kikitrade aims to attract the millennials and everyday people to invest in crypto assets with ease, and contribute to the democratization of cryptocurrency in the long run.
Renowned Investors Betting on Strong User and Team Traction
The Pre-A series funding was co-led by Dragonfly Capital, a blockchain venture fund affiliated with Sequoia Capital, Cherubic Ventures, a venture capital that has invested six unicorns globally, and Animoca Brands, a blockchain gaming giant founded by tech legend Yat Siu. Other investors include Ethereum Co-founder Joseph Lubin and his new fund in stealth, Singaporean venture capital Vulpes, Super Chain Capital, Australian venture capital Artesian, Head & Shoulders X in Hong Kong, Chinese blockchain fund SNZ and more.
With profound experience in FinTech, Kikitrade Co-founder Allen Ng said, “My singular goal with Kikitrade is to lower the entry barrier of crypto investment and provide everyday people with the necessary tools and knowledge required.” Dragonfly Capital Partner Mia Deng said, “Attracting the millennials and Gen-Z with first-class user experiences is an important trend in FinTech. We like Kikitrade’s strategies and look forward to driving the mass adoption of crypto together.”
Kikitrade’s solid and diverse team background is also a key consideration for the investors. The team comprises experienced engineers, hedge fund traders, investment bankers and crypto enthusiasts with in-depth knowledge in both financial and blockchain industries. Cherubic Ventures Managing Partner Tina Cheng said, “Kikitrade’s professional team has both excellent product development capabilities and extensive marketing resources. We are very bullish on its future growth and the vision of driving crypto’s mass adoption”.
Enhancing “Social” and “Gaming” Elements for Millennials
Sean Tao, another Co-founder of Kikitrade, has built and operated multiple social products for millennials before. A heavy gamer himself, Sean aims to integrate “social” and “gaming” elements to Kikitrade, enabling peer interaction and gamified experience. Animoca Brands CEO Yat Siu said, “NFT’s are the standard for true digital property rights and the next development of the Metaverse requires easy to on-board financial services, and we believe Kikitrade could become an influential financial onboarding platform for collectors and gamers globally.”
Entering New APAC Markets and Introducing New Features
Granted a Digital Asset Exchange Provider Qualification from the Australian government, Kikitrade has plans to apply or acquire more licenses in APAC. The compliant platform upholds a high standard on identity verification (i.e KYC), anti-money laundering (i.e AML) and asset segregation, striving for a secure and reliable crypto investment experience. To address the common misperception of the high costs associated with crypto, Kikitrade sets its minimum investment amount at US$1. In addition, Kikitrade provides crypto-based saving features and regular investment plans targeting beginners and long-term holders.
The investment proceeds will accelerate the user acquisition in the fast growing APAC markets, including Taiwan, Southeast Asia and Australia. Kikitrade will also continue to optimize its existing trading system, enhance its educational content and create an easy-to-use Non-Fungible Tokens (NFT) and Decentralized Finance (DeFi) portal. Kikitrade is highly committed to becoming the best partner for mainstream investors in their forays into the crypto universe.
Blockchain
FBI warning against crypto money transmitters ‘appears’ to be aimed at mixers
A recent warning from the FBI regarding a crypto money transmitter seems to be aimed at the Samourai Wallet. This development highlights the increasing scrutiny and regulatory challenges faced by privacy-focused cryptocurrency wallets and services.
The FBI warning raises concerns about the use of certain cryptocurrency wallets that prioritize user privacy and anonymity, potentially enabling illicit activities such as money laundering and terrorist financing. While the warning does not explicitly name any specific wallet or service, the language used suggests that the Samourai Wallet may be the target of the advisory.
Samourai Wallet is known for its focus on privacy and security features, including coin mixing and stealth addresses, which aim to enhance user privacy and protect against surveillance and tracking. However, these features have drawn the attention of law enforcement agencies and regulators, who are increasingly concerned about their potential misuse by criminals.
The FBI warning underscores the challenges faced by privacy-focused cryptocurrency wallets in navigating regulatory compliance and law enforcement scrutiny. While these wallets aim to empower users with greater control over their financial privacy, they must also address regulatory requirements and law enforcement concerns to avoid legal and reputational risks.
As the cryptocurrency industry continues to evolve, privacy-focused wallets like Samourai Wallet will need to strike a balance between privacy and compliance, ensuring that they can provide robust privacy features while also addressing regulatory concerns and maintaining transparency with authorities. This delicate balance is essential to foster trust and confidence among users and regulators alike, ultimately enabling the continued growth and adoption of privacy-enhancing technologies in the cryptocurrency space.
Source: cointelegraph.com
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Blockchain
Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets
Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.
The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.
Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.
As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.
Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.
Source: blockchain.news
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Blockchain
Existing Blockchains Can’t Adopt Post-Quantum Cryptography Without Significant User Impact, Says Johann Polecsak
Johann Polecsak argues that existing blockchains face significant challenges in adopting post-quantum cryptography without causing substantial disruption to users. This assessment highlights the complex and multifaceted nature of transitioning to new cryptographic standards in blockchain networks.
Post-quantum cryptography refers to cryptographic algorithms that are resistant to attacks from quantum computers, which have the potential to break traditional cryptographic schemes. While post-quantum cryptography offers enhanced security, implementing it in existing blockchain networks poses technical, operational, and usability challenges.
Polecsak suggests that transitioning to post-quantum cryptography could require significant changes to blockchain protocols, consensus mechanisms, and user interfaces. These changes may disrupt existing workflows, require modifications to software and hardware infrastructure, and necessitate coordination among network participants.
Furthermore, Polecsak emphasizes the importance of ensuring backward compatibility and interoperability during the transition to post-quantum cryptography. This is crucial to prevent fragmentation of the blockchain ecosystem and maintain continuity for users and applications.
Polecsak’s assessment underscores the complexities and trade-offs involved in adopting post-quantum cryptography in existing blockchain networks. While the transition promises improved security against quantum threats, it requires careful planning, coordination, and investment to minimize disruption and ensure a smooth transition for users and stakeholders. As the field of post-quantum cryptography continues to evolve, blockchain projects will need to carefully evaluate their options and strategies for implementing these new cryptographic standards.
Source: news.bitcoin.com
The post Existing Blockchains Can’t Adopt Post-Quantum Cryptography Without Significant User Impact, Says Johann Polecsak appeared first on HIPTHER Alerts.
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