Binance CEO Changpeng Zhao believes that decentralized finance (DeFi) will surpass centralized finance (CeFi) in the next six years due to increasing adoption and accessibility for those without traditional banking access. He also sees institutional interest in crypto as a positive sign for the industry and its technology. Despite recent regulatory struggles, Zhao stated that Binance is committed to compliance and regulatory efforts, and highlighted the company's minimal exposure to bankrupt crypto firms. Additionally, The Wall Street Journal reported that Binance has laid off approximately 1,000 employees in recent weeks.
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Binance CEO Predicts DeFi Will Surpass CeFi in 6 Years, Ready to Collaborate with Regulators
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Tetra Digital Group, a digital asset infrastructure company, has secured approximately $10 million in funding.
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Lead Bank raises $70 million at a $1.47 billion valuation
Lead Bank, a Missouri bank with a 97-year history, is currently restructuring to serve financial technology and cryptocurrency companies. The company has raised $70 million, with a valuation of $14.7 billion, almost double that of last year, aiming to expand its balance sheet and customer base. -
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Commission-free trading platform Midas secures $80 million in funding at a valuation of nearly $1 billion
according to Bloomberg, Turkey's first commission-free trading platform Midas is valued at nearly $1 billion after its latest funding round. The company announced earlier this week that it had secured $80 million in funding, setting a new record for funding for a Turkish financial technology company. This round of funding was led by QED Investors, with additional investors including the International Finance Corporation (IFC) and existing investors Spark Capital. With this, Midas' total funding has reached $140 million. Midas is the owner of Istanbul brokerage firm Midas Menkul Degerler AS, and is seen as the Turkish version of the "Robinhood" trading platform. -
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AI-native platform Sola completes $17.5 million Series A funding round, led by a16z
AI native platform Sola completed a $17.5 million Series A financing round, led by a16z. Sola uses AI robots to automate workflows. Their agents observe how users perform tasks on the screen and can automatically handle these tasks even in traditional tools without APIs or integrations. -
Web3 payment infrastructure company Transak completes $16 million in financing
Web3 payment infrastructure company Transak has announced the completion of a new round of financing of $16 million, led by IDG Capital and Tether, with Primal Capital, 1kx, Protein Capital, and Fuel Ventures participating. Transak plans to use this funding to expand its stablecoin payment stack and enter new markets. -
Binance: Bitcoin miners record longest streak of net selling since 2017
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