Evening News | Bain Capital Launches $560 Million Crypto Fund; Tencent Invests in NFT Sector for the First Time
Bain's crypto fund will focus on Layer 1 and storage sectors; Evmos announced that the network will be in a paused state for the next few days.Compiled by: Richard Lee, Hu Tao, Chain Catcher
"What are the truly important news today?"
1. Bain Capital launches a $560 million crypto fund, focusing on Layer 1 blockchains and storage
According to Bloomberg, the veteran investment firm Bain Capital is launching a $560 million crypto fund that will invest in about 30 companies over the next 2 to 3 years. The fundraising for the fund was completed last November, and so far, it has invested $100 million in more than 10 projects.
Reportedly, the fund's investment areas include Layer 1 blockchain networks (i.e., competitors to Ethereum) and storage. (Source link)
According to Reuters, the NFT Layer 2 scaling solution Immutable X has completed a $200 million financing at a valuation of $2.5 billion, led by Temasek, with participation from Mirae Asset, ParaFi Capital, Declaration Partners, Tencent Holdings, and others.
It is reported that Immutable X is the first Layer 2 scaling solution for NFTs on Ethereum, offering instant transaction confirmation, high transaction throughput, and zero gas fees, without compromising Ethereum's security. Last September, the project completed a $60 million financing at a valuation of $410 million.
3. Evmos announces it will not restart the network for several days and will release a post-mortem analysis report
The Cosmos EVM network Evmos announced on Twitter that, in light of community feedback, the network will remain paused for the next few days. The team is analyzing the previous network upgrade failure, and a post-mortem analysis report will be released soon.
Yesterday, Evmos attempted a network upgrade but failed, announcing a pause in operations for 24-48 hours. The mainnet was officially launched on March 3. (Source link)
4. Web3 privacy system Espresso Systems completes $32 million financing, Sequoia Capital participates
Web 3 application scaling and privacy system Espresso Systems has completed $32 million in financing, led by Greylock Partners and Electric Capital, with participation from Sequoia Capital, Blockchain Capital, and Slow Ventures.
Reportedly, Espresso Systems is developing Layer 1 blockchain infrastructure that provides fast, low-cost transactions by integrating proof-of-stake consensus protocols with zk rollup mechanisms. The project's Ethereum configurable asset privacy (CAPE) smart contract application aims to provide creators with customizable privacy regarding sender and receiver addresses, as well as the quantity and type of assets held or moved. According to TechCrunch report, many core members of the project have backgrounds from Stanford University. (Source link)
5. Insider: Biden to sign executive order on cryptocurrency this week
Bloomberg cites sources familiar with government plans that U.S. President Biden will sign an executive order this week outlining the U.S. government's cryptocurrency strategy.
Insiders say the order will guide federal agencies in reviewing potential regulatory changes and the impact of digital assets on national security and the economy. In recent weeks, following sanctions imposed by the U.S. and its allies on Russia, the White House's stance on cryptocurrency has drawn renewed attention, raising concerns about organizations and individuals potentially using cryptocurrency to evade restrictions. (Source link)
6. Cardano founder Charles Hoskinson accused of falsifying his resume
Charles Hoskinson, the founder of Cardano, has recently been accused of falsifying his resume. Laura Shin, the host of Unchained, tweeted that Charles Hoskinson not only did not earn a PhD but also did not obtain an undergraduate degree, and called for him to publicly show proof of his educational background.
Reportedly, Laura Shin checked Charles Hoskinson's educational information at the University of Denver and the University of Colorado. Laura Shin previously revealed that the hacker who attacked The DAO might be the founder of TenX. (Source link)
7. Crypto venture capital firm OP Crypto's fund OP Ventures Fund I completes $50 million financing, Animoca Brands participates
The blockchain-focused venture capital firm OP Crypto's fund OP Ventures Fund I has completed $50 million in financing, with participation from billionaire Bill Ackman, Solana co-founder Raj Gokal, Terra founder Do Kwon, Polygon co-founder Sandeep Nailwal, billionaire Alan Howard, and Animoca Brands.
Reportedly, the fund will focus on investing in virtual worlds, gaming, social media, and decentralized finance. (Source link)
"What articles are the editors of Chain Catcher reading?"
On March 7, NFT/game developer Immutable completed a $200 million Series C financing at a valuation of $2.5 billion, led by Temasek, with participation from Mirae Asset, ParaFi Capital, Declaration Partners, Tencent Holdings, and others, marking Tencent's first direct investment in the NFT sector. Chain Catcher provides a comprehensive analysis of Immutable's solutions and product layout in this article.
2. 《Top 100 Influential Figures in the Crypto Industry in 2022: Who Should You Pay Attention To?》
Recently, the well-known crypto media Cointelegraph released the list of the top 100 influential figures in the crypto industry for 2022. This article organizes the specific list and provides detailed introductions to the notable figures.
3. 《In-depth Analysis: Arweave is a Key Player in Long-term Blockchain Storage》
Unlike most public chains that have developed from the top down, the Arweave ecosystem seems to have spent the majority of its efforts over the past three years on underlying infrastructure, attempting to carve out its unique bottom-up development path. To date, the ecosystem has over 400 projects, nearly doubling compared to the same period last year. Under the narrative of Web 3.0, many native blockchain dApps are inclined to use on-chain storage. As the underlying infrastructure matures, more application layer projects are expected to emerge, bringing new users and funds into the Arweave ecosystem.
