CoinDCX tops $2B in valuation as investors pump in $135 million
CoinDCX has raised $135.9 million (~Rs 1,000 crore) from investors led by Pantera Capital and Steadview Capital. It has doubled its valuation to $2.15 billion in just 8 months to become the most valued crypto trading platform in India. So far, CoinDCX has raised over $245 million. The trading exchange will use the funds to increase its headcount from 400 to over 1,000 by the end of next year.
Crypto prices today: Bitcoin, ETH up 4%
Bitcoin is currently trading at $40,727, a 4.3% increase over the previous day. Ethereum is up 4.5% over the last 24 hours to $3,047.97. Solana rose 5% to $101.99, while Cardano is trading higher by 5.5% at $0.93. Meanwhile, Terra (LUNA) has surged 15.85% to $89.1. The global crypto market cap stands at $1.89 trillion, a 4.34% increase over the previous day.
Biggest risk of crypto is laundering, terror financing: Finance Minister
The biggest risk of cryptocurrency could be money laundering and its use for financing terror, said Union Finance Minister Nirmala Sitharaman. She added that no country can handle these risks alone, and crypto can be regulated only when countries come on board together.
Stablecoin variant “Gold Coins” emerging as first choice for crypto trading
Coins backed by gold are newer variants of “stablecoins”, which are typically pegged to the dollar to curb volatility. Pax Gold (PAXG) has jumped 7.4% in 2022, while its main rival Tether Gold has surged 8%. Stablecoins have emerged as a common medium of exchange. It is often used by traders to move funds across various platforms.
Hyundai to become the first automaker to enter NFT market
South Korea-based Hyundai Motor Company has announced its decision to enter the world of non-fungible tokens (NFTs). The automaker will partner with the ‘Meta Kongz’ NFT brand to create its own set of NFTs and a concept film. Hyundai also released a short film introducing the Hyundai NFT universe concept ‘Metamobility Universe.’
