Singapore, Singapore--(Newsfile Corp. - October 20, 2021) - SevenX Ventures, an Asia-based blockchain fund, recently announced that they had raised $30 million in the second phase of their fund. This development came on August 16 when SevenX was able to add LPs from the likes of family offices, hedge funds, blockchain industry veterans, and internet companies to their list. The firms said they would be moving towards Venture Fund II which will specifically focus on DeFi, NFT, WEB3.0, Polkadot ecosystem, NEAR ecosystem, and the new ecology of the data storage paradigm represented by Arweave.
Needless to say, since its inception in 2020, crypto investment firm SevenX has directed these investments towards the benefits of several companies including DODO, YGG, and Acala, among others. With the help of fundings coming from SevenX Ventures, these companies have seen immense growth. In their very first year, SevenX's first phase of funding saw a 20-fold increase, breaking a new record.
Mapping out SevenX Ventures' Portfolio
SevenX looks for long-term value projects that can make the real world better using a long-term development mindset and underlying logic perspective. There are a number of success stories among SevenX's portfolio and the following statistics demonstrate some of such outcomes:
In the DeFi space, as one of the first investment funds specializing in DeFi, SevenX is an angel investor in Opium, Shield, Kine, InsureAce, DODO. In addition, they were also the first investor in Furucombo and had made a strategic investment in Zerion in 2020;
In the NFT field, SevenX has carried out a matrix layout under its own logic framework. Starting with the core technology system, it has co-led the Rangers Protocol investment with Framework and Pantera, and then went on to invest in NFT Alchemy.
In the middle layer (content and application layer), SevenX invested in MintGate, BeeperDAO, and ShowMe; Whereas in the upper layer of "NFT+DeFi," SevenX invested in Taker and NiftyPay.
In the top traffic layer of the wallet, SevenX also invested in Blocto, YGG, and Whaleshark- one of the world's largest collector communities, Moreover, SevenX also invested in MYNFT, an interconnection platform with East and West creators.
As for the Arweave, SevenX has been investing in this area as a frontier since 2020. "There will be an extraordinary wave of breakthroughs in the Arweave ecosystem over the coming years, " stated Eraser Li, the founding partner of SevenX Ventures. Koii and Everpay are building a storage-based computation paradigm based on Arweave; ARGO, the appless augmented reality solution provider, allowing developers to deploy DAPP to AR instantly, while ArDrive enables customers to use AR as their own data storage solution as easy as using an Internet network disk. These are the SevenX portfolio.
Immersion Investing
The blockchain ecosystem is highly autonomous and for a startup to grow in such uncertain conditions, funding is not the "do-all." Blockchain startups need much more than just money - they need the resources, tools, and knowledge necessary to execute plans and strategies. This is where the role of SevenX comes into play.
SevenX doesn't just provide blockchain startups with the bucks, but also strategic consulting services. The entrepreneurs get an opportunity to understand the industry as an omniscient spectator - an external view. Furthermore, SevenX attempts to understand the problems and challenges that the entrepreneurs face, thereby finding solutions and opportunities accordingly. And that's where SevenX provides all-around help and why SevenX has come up with an "immersion investing" strategy.
The team's bid to provide growth opportunities and foster entrepreneurs has helped shape its "immersion investing" strategy. Take DODO as an example, a decentralized exchange platform powered by the Proactive Market Maker (PMM) algorithm. As the angel and private round investor, SevenX has provided DODO with consulting services, including strategy, community, fundraising, and token economic design. Just one year after the product's launch, it has become one of the top 15 trading volumes of DEX. SevenX also assisted Maskbook in the global market, connected with leading crypto funds; helped Darwinia reposition as "Polkadot's Golden Gate Bridge" to enhance market awareness.
Looking Forward
The rise of any industry is due to the efforts of countless entrepreneurs, and SevenX Ventures will further capitalize on the next wave of crypto innovators and entrepreneurs. In doing so, the crypto company appreciates the efforts of all and welcomes more and more entrepreneurs to join the SevenX family and be a part of the miraculous change that the world is witnessing at the moment.
Chainalysis, Robinhood and 488 more Cryptocurrency companies in United States from the F6S community. Cryptocurrency forms part of the Finance industry, which is the 3rd most popular industry and market group.
Who owns the most Bitcoin in the world? The top Bitcoin holder is still believed to be Satoshi Nakamoto, the anonymous creator of Bitcoin, who reportedly holds around 1.1 million BTC across many wallets. Despite this large holding, the top 10 holders collectively only possess about 5.5% of the total Bitcoin supply.
Satoshi Nakamoto, the pseudonymous creator of Bitcoin, is believed to own the most bitcoins, with estimates suggesting over 1 million BTC mined in the early days of the network.
Bitcoin was created by an anonymous person or group using the pseudonym Satoshi Nakamoto. Nakamoto published a whitepaper titled "Bitcoin: A Peer-to-Peer Electronic Cash System," outlining the concept of a decentralized digital currency. 1 The true identity of Satoshi Nakamoto remains unknown to this day.
As of today, we track 216 crypto exchanges with a total 24h trading volume of $61.5 Billion, a -28.09% change in the last 24 hours. Currently, the 3 largest cryptocurrency exchanges are Bybit, Coinbase Exchange, and OKX.
Michael Saylor, CEO of MicroStrategy, a software firm that has made heavy investments in bitcoin, is now worth an estimated $4.4 billion, compared to $760 million last year. Brian Armstrong, CEO of crypto exchange Coinbase, is worth an estimated $11.2 billion, up from just $2.2 billion last year.
F rom the increasingly ferocious federal crackdown on the cryptocurrency business, it might appear the U.S. government cannot stand digital currencies. Yet there is a love-hate dynamic: the Treasury is sitting on a stash of 207,189 bitcoin, worth $5 billion, by far the largest such state-owned hoard.
Prior to Coinbase, Armstrong worked as a software engineer at various tech companies, including IBM and Airbnb. However, it was his involvement with cryptocurrency that paved his way to fortune. In 2012, Armstrong co-founded Coinbase.
Cryptocurrencies are usually not issued or controlled by any government or other central authority. They're managed by peer-to-peer networks of computers running free, open-source software. Generally, anyone who wants to participate is able to.
The legend of Satoshi Nakamoto, the anonymous bitcoin founder, is a mystery built for the digital age. His true identity has become mythologized, and while no one knows who he is, he's become a symbol of a new era of freedom in finance and technology.
Key Takeaways. As of March 2024, bitcoin was legal in the U.S., Japan, the U.K., and most other developed countries. In general, it is necessary to look at laws in specific countries. In the U.S., the IRS considers bitcoin and other cryptocurrencies property, issuing appropriate tax treatment guidelines for taxpayers.
Fortunately in United States, you can buy Bitcoin on Coinbase's centralized exchange. Coinbase is the most trusted place for people and businesses to buy, sell, and manage Bitcoin. It's quick and easy.
Crypto.com holds a money services business license with U.S. FinCEN, so it's legal in the U.S. It also holds a money transmitter license in every U.S. state that requires it, except New York.
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