Blockchain
Talon Closes US$5MN Series A Round Led by Animoca Brands
Talon, the Hong Kong headquartered competitive gaming, entertainment and culture brand, today announced that it has secured US$5M in equity capital in its Series A financing round. The raise was led by leading digital entertainment, blockchain and gamification company Animoca Brands, which participated in Talon’s seed round investment in 2018, and other investors including Hana Digital Transformation Fund and HZL Capital. Amongst the new investors joining Talon include AK Partners, Token Bay Capital, Foxmont Capital Partners, Arete Capital Asia, BlackPine, Yieldly, PAC Capital amongst other family offices.
This investment builds on Talon’s recent success, which include quadrupled revenues since 2019, strong social media growth and the delivery of multiple championships across numerous titles since its seed round. Talon currently has competitive rosters in six major game titles across five markets within Asia Pacific. The PSG Talon League of Legends team has won three titles in the Pacific Championship Series (PCS) in four seasons since 2020 and has represented the region at both MSI (Mid-Season Invitational) and World Championships in every year of competition, placing among the best teams globally. In Thailand, Talon’s Arena of Valor roster has won two major domestic titles and clinched a world title in the form of the Arena of Valor World Cup in July 2021. Additionally, Talon fields teams in Dota 2, Overwatch Contenders, Rainbow Six Siege, Tekken 7 and Street Fighter V.
Talon boasts over 25 million followers across its combined social platforms. With the capital raised Talon will continue to grow its lifestyle and cultural platform focusing on working with fashion labels, KOLs, musicians and traditional sports athletes to deliver entertainment to the next generation of youth, targeting Gen Z and millennials.
As part of this strategy, a strong focus will be placed into the development of digital and blockchain solutions alongside Animoca Brands to deliver unique experiences, collectibles and opportunities via different metaverses, P2E games and NFT platforms. Additionally, Talon will further expand its regional footprint into South East Asia, focusing on the Philippines, Vietnam and Indonesia and compete in the biggest gaming titles in each respective country.
YAT SIU, executive chairman and co-founder of Animoca Brands, said: “Talon is a great example of how the communities of esports and gaming are converging on blockchain and making use of NFTs. We look forward to working with Talon and the many companies in our investments portfolio in order to bridge these communities and take us one step closer to making the open metaverse a reality.”
NICO SIBAL, Director of Portfolio Management Foxmont Capital Partners, said: “We are especially excited to work with Sean and Talon, the region’s top esports team and brand. We look forward to supporting their timely expansion into the Philippines, where there are over 50 million active gamers across all ages and platforms.”
LAWRENCE CHU, Founder of BlackPine, said: “Talon will shape esports and entertainment for the next generation of players, fans and creators. We look forward to supporting their expansion to SEA, blockchain and P2E games.”
CLAYTON LARCOMBE, Managing Director and CIO of PAC Capital, commented: “The private (unlisted) global esports and gaming space is very exciting. I started to come across many companies looking for funding and Talon stood out among the pack. One of the key reasons for this being the CEO – Sean Zhang, who I came to know as a strong and highly capable leader. Other reasons include the team’s competitive success and the many potential revenue expansion pathways. This is one of the most exciting investments in our portfolio and momentum is well and truly building.”
CHARLES LUCHANGCO, Principal Arete Capital Asia “We have been looking for increased exposure into esports and emerging consumer entertainment. The challenge for us was to find a balance between entrepreneurial drive and institutional investment standards. As such, we are delighted to be partnering with Sean and the Team at Talon.
SEAN ZHANG, CEO of Talon, commented: “Together with our strategic partners and investors, I’m very excited to be entering the next chapter of TALON’s journey. We will continue to add to the trophy cabinet while building an entertainment and culture platform that will allow us to connect ever more deeply with our fans. We are also extremely excited to leverage cutting-edge technology alongside Animoca Brands to develop new ways to engage with fans.”
Blockchain
Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins
In a recent communication directed to Treasury Secretary Janet Yellen, US Senator Elizabeth Warren has strongly advocated for the incorporation of robust Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures specifically tailored for stablecoins. Senator Warren’s correspondence underscores the critical importance of adopting the full array of AML tools outlined by the Treasury Department in a prior November 2023 communication to Congress.
Senator Warren has underscored the burgeoning threat posed by cryptocurrencies, particularly stablecoins, to national security. She has specifically drawn attention to instances where entities like Iran and Hamas have turned to cryptocurrencies as a means to raise funds and support terrorist activities. To effectively address this evolving threat landscape, Senator Warren asserts that any forthcoming crypto legislation must encompass comprehensive AML/CFT authorities as requested by the Treasury Department.
Moreover, Senator Warren has made reference to the testimony provided by Deputy Secretary Adewale O. ‘Wally’ Adeyemo before the Senate Committee on Banking, Housing, and Urban Affairs. In this testimony, Adeyemo emphasized the critical need for additional AML authorities to combat the growing menace posed by cryptocurrencies. Senator Warren has pointed out that the exclusion of crucial actors within the digital asset ecosystem, such as miners and validators, from AML/CFT requirements could potentially enable nefarious actors to exploit the increased crypto trading facilitated by stablecoin legislation.
Senator Warren’s steadfast stance on the regulation and oversight of cryptocurrencies is aligned with her prior efforts aimed at curbing illicit activities and safeguarding consumers, the financial system, and national security interests. She has persistently advocated for the closure of loopholes in AML regulations that allow sanctioned entities like Iran to derive revenue through crypto transactions. Furthermore, Senator Warren has consistently voiced concerns regarding the exploitation of cryptocurrencies in terrorist financing schemes and has called for the implementation of stronger regulatory frameworks to protect both consumers and national security interests within the realm of stablecoin-related legislation.
Source: blockchain.news
The post Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins appeared first on HIPTHER Alerts.
Binance has rolled out Binance Megadrop, a novel token launch platform that blends airdrops with Web3 quests. This platform enables users to engage in BNB Locked Products subscriptions and complete tasks within their Web3 Wallet to earn early rewards from chosen Web3 projects, even before their tokens hit the Binance Exchange.
The inaugural project featured on Binance Megadrop is BounceBit (BB), a BTC restaking chain. Here are the token specifics for BounceBit: Max Token Supply: 2,100,000,000 BB, Megadrop Token Rewards: 168,000,000 BB (8% of max token supply), Initial Circulating Supply: 409,500,000 BB (19.5% of max token supply).
To kickstart their journey with Binance Megadrop, users must log into their Binance account and ensure they possess an active Binance Web3 Wallet. From there, they can subscribe to BNB Locked Products and/or fulfill Web3 Quests to accumulate scores. These scores dictate the rewards received through the Megadrop program.
The scoring mechanism for Megadrop relies on the Locked BNB Score, determined by the quantity of BNB subscribed and the subscription period’s duration. Users also earn a Web3 Quest Bonus and a Web3 Quest Multiplier upon completion of designated Web3 Quests. The total score is computed by applying the Web3 Quest Multiplier to the Locked BNB Score and adding the Web3 Quest Bonus.
Importantly, only wallets created within the Binance Web3 Wallet and not external wallets will count towards Megadrop participation. Megadrop rewards will be airdropped to users’ Binance Spot Wallets.
Users must undergo identity verification and maintain at least one active Binance Web3 Wallet to qualify for Megadrop rewards. Additionally, certain jurisdiction-based eligibility criteria apply. Users from Australia, Canada, Cuba, Crimea Region, Hong Kong, Iran, Japan, New Zealand, Netherlands, North Korea, Russia, Singapore, Syria, United Kingdom, United States of America, and its territories are presently ineligible to participate in BB Megadrop.
Binance Megadrop is aimed at offering users an interactive and rewarding experience within the crypto realm. Further details regarding the Megadrop amount, Web3 Quests, and the comprehensive listing plan will be disclosed separately.
Source: blockchain.news
The post Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 Quests appeared first on HIPTHER Alerts.
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