This week’s news in the crypto space has both negative and positive impacts. The market has taken a sharp downturn in recent days, but overall developments are positive and include funding rounds, metaverse growth, and strong adoption trends.
- Crypto Security Firm CertiK raised $88 million in a funding round that saw participation from Goldman Sachs; it is now valued at $2 billion.
- HSBC has launched a metaverse fund for its private banking clients, which further increases its involvement in the metaverse space.
- The Luna Foundation Guard added to its treasury with a $100 million purchase of AVAX tokens.
- A recent report reveals that more women have invested in crypto over the past year and that they are decidedly more risk-averse.
- The new incoming Korean government is considering allowing the issuance of STOs and IEOs, along with a raft of other positive changes.
This Week in Crypto
Crypto Security Firm CertiK Gets Funding From Goldman, Valued at $2 Billion
Blockchain security firm CertiK raised $88 million in a funding round that gives it a valuation of a whopping $2 billion. The total sum raised so far is $230 million, and the future looks bright for the firm. This funding round was led by Insight Partners, Tiger Global, and Advent International, but also saw participation from Goldman Sachs.
CertiK also had a funding round in Q4 2021, raising $80 million in a Series B2 funding round led by Sequoia Capital China. That put its valuation at $1 billion, already a staggering sum for a company that is at the heart of blockchain and smart contract auditing.
Now HSBC Gets In on Metaverse With Fund for Private Clients
In what can only be described as quite a surprise move, the HSBC bank has created a metaverse fund for its private banking clients. The fund was launched on April 6 and allows investors to invest in metaverse-themed opportunities. Executives even said that the “metaverse is expected to become the next iteration of the internet.”
Of course, this isn’t the first time that HSBC has dabbled with the metaverse. It entered The Sandbox metaverse earlier this year, and it is certainly trying to keep up with the times. The metaverse fund will focus on infrastructure, computing, virtualisation, experience and discovery, and human interface.
Luna Foundation Guard Buys Another $100 Million in AVAX Tokens
The Luna Foundation Guard has been making the headlines for its hefty purchases of bitcoin. The treasury for the Luna project now holds nearly 40,000 bitcoin or over $1.5 billion worth of the asset. They even aim to hold $10 billion worth of bitcoin, and co-founder Do Kwon has said that the LFG aims to become the second-largest holder of bitcoin.
But the LFG has also been buying other assets to bolster its reserves. In the last week, it bought another $100 million in AVAX tokens, an asset it also sees as important in its treasury. The project has been drawing a lot of attention for its price movements and general activity, and it’s clear that it wants to cement its position, with a strong treasury acting as a safeguard.
More Women Investing in Crypto
There’s good news for crypto adoption: more women are investing in cryptocurrencies. A report revealed that the number of women investing in cryptocurrencies has increased over the past year. Interestingly, while the average initial deposits have been higher, they did not trade as frequently as men.
So, it appears that women are generally more risk-averse, and this is linked to a better performance in the markets. The report also stated that women seemed to follow a structured trading strategy, with a smaller range of more focused positions.
New Korean Government May Implement STO and IEO Rules for Crypto Market
South Korea has always been one for crypto regulation, having instituted multiple laws to that end. But with a new Korean government coming into place, things might change. The president-elect said that his administration might consider the issuance of Security Token Offerings (STOs) and Initial Exchange Offerings (IEOs) and create regulations for monitoring the space.
In more positive news, it is also considering allowing more crypto exchanges to operate in the country. Of course, all of this is still in the early stages of discussion, but the signs are hopeful.