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Asian VC Firm Launches $30 Million Polkadot, Kusama Fund

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Master Ventures, an Asian private-venture capital firm has unveiled a $30 million fund geared toward crypto projects eyeing for a parachain slot on Polkadot and Kusama.

Bullish on Parachain Projects

According to a press release issued today, $1 billion-valued blockchain incubator & private venture capital company Master Ventures has launched a $30 million venture capital fund dubbed the Master Ventures Polkadot VC Fund.

The first of its kind fund aims to support and finance the Parachain bids of tier-1 blockchain and cryptocurrency projects aiming to secure a slot on the Polkadot Relay Chain. In addition, the fund will also bootstrap early-stage investments in projects in the budding Polkadot and Kusama ecosystems.

For the uninitiated, both Polkadot and Kusama are poised to launch more than 50 parachains over the next 18 months. These Parachain slots, as such, will be auctioned to the highest-bidding projects who must also make the required payments for their respective bids in DOT or KSM, the native tokens of Polkadot and Kusama networks, respectively.

In a bid to incentivize community support towards a particular Parachain bid, projects will issue their native tokens in exchange for a DOT crowdloan. Notably, this process is an alternative conceptualized by Polkadot to an ICO/IDO with the native tokens being airdropped to the lenders.

Commenting on the development, Kyle Chasse, Founder and CEO, Master Ventures, noted:

“As a supporter of Blockchain & Cryptocurrency since 2012, we’ve evaluated over 1000 projects and invested in nearly 100 of these, many of which have committed to develop on Polkadot.  In our current portfolio of incubated projects led by the PAID Network, we’ve also committed significant research & development resources to build on Polkadot.”

Adding:

“As such, we’ve gained amazing proprietary knowledge and insight into the current progress and future evolution of both projects and we believe Polkadot will be one of the clear long-term winning blockchains and ecosystems due to its cross-chain functionality, ease of development & deployment as well as the strength of its development community.”

Anticipation Builds for Parachain Auctions

Both Polkadot and Kusama are slated to conduct Parachain auctions which will witness numerous tier-1 projects battle each other to secure a Parachain for a certain period of time.

As BTCMananger reported on May 25, Polkadot is assessing multi-chain tech challenges after launching Parachain auctions.

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Source: https://btcmanager.com/asian-vc-firm-launches-30-million-polkadot-kusama-fund/

Blockchain

How Many Bitcoin U-Turns? Goldman Sachs Now Says Bitcoin Is Not a Viable Investment

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The US multinational investment bank Goldman Sachs continues with its 180-turns on the cryptocurrency industry. After its recent interest that included filing for a Bitcoin ETF and exploring crypto as an asset class, the institutions’ latest report said virtual currencies are not a “viable investment.”

Crypto Is Not a Viable Investment: Goldman

It’s safe to say that Goldman Sachs has displayed a controversial approach to the cryptocurrency space. The latest report coming from the Wall Street giant takes it back a notch by going to its hostile policy from previous years.

Titled “Digital Assets: Beauty Is Not in the Eye of the Beholder,” it touched upon some of the most recent concerns, including high energy consumption required in the process of mining. This topic was raised in May by Tesla’s Elon Musk, who criticized BTC for using too much coal fuel.

Despite numerous reports claiming otherwise, Tesla disabled bitcoin payments citing environmental issues.

The paper also touched upon cryptocurrencies’ usage in ransomware attacks after numerous hacks transpired on US soil in recent months. After each, the perpetrators indeed requested the payments to be sent in bitcoin.


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Furthermore, the document named impending regulations as the “biggest risk to the speculative aspects of this ecosystem.” Keeping in mind all of these concerns, the bank concluded:

“After analyzing various valuation methodologies and applying our multi-factor strategic asset allocation model, we have concluded that cryptocurrencies are no a viable investment for our clients’ diversified portfolios.”

How Many U-Turns?

The mentioned-above word ‘controversial’ might not be strong enough to describe Goldman’s ever-changing views on the industry.

The institution was among the first regulated entity to launch a crypto trading desk all the way back in 2017. Yet, that came amid the parabolic price increases, and when the year-long bear market followed, Goldman halted the initiative.

In the meantime, Goldman held a conference call in which it said bitcoin is not an asset class. Bank executives repeatedly questioned BTC’s ability to serve as a reliable store of value and blasted its volatility.

Yet again, Goldman restarted the trading desk this year when, once again, prices were skyrocketing to new highs. It also filed for a Bitcoin ETF with the SEC, explored launching custody services, added BTC to its year-to-date returns report, participated in investment rounds in crypto projects, and enabled clients to trade bitcoin derivatives.

With all of that in mind, it’s not such a surprise that Alex Kruger and other crypto community members viewed Goldman’s latest U-turn as nothing out of the ordinary.

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Source: https://cryptopotato.com/how-many-bitcoin-u-turns-goldman-sachs-now-says-bitcoin-is-not-a-viable-investment/

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Ethereum: Will this level hold in the face of selling pressure?

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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice

The weekend curse seemed to continue as the global cryptocurrency market opened in the red on yet another Saturday. Ethereum was no exception to the trend and found itself burdened by selling pressure. At press time, the world’s largest altcoin was trading at $2,227, down by 4% in the last 24 hours.

Ethereum 1-day chart

Source: ETH/USD, TradingView

Ethereum’s daily chart pictured an ascending triangle breakdown after the price was rejected at the 20-SMA (red) and $2,540 resistance. A southbound trend ensued and losses amounted to over 13% from the bottom trendline of the pattern. The next question was – What level could provide support for ETH’s downfall?

23 April’s swing low of $2,080 was one defensive option. A bounce back from this region triggered a 100% rally in end-April and saw the digital asset hit its ATH above $4,000. While a similar outcome is certainly unlikely in a bear market, the line could offer support nonetheless.

Further down the charts, another support line rested at 23rd May’s swing low of $1,730. This area was further bolstered by the 200-SMA (green). Once ETH finds its resting ground, the focus would switch to certain resistance levels but the bulls would face an uphill task to target a break above $2,900.

Reasoning

The Relative Strength Index has been unable to break above 50 since the 19th May crash. This indicated that bears were still in control of market prices despite several recovery attempts over the last few weeks. The MACD did see some choppy movement since June but the same has failed to rise above equilibrium. Moreover, the On Balance Volume’s downtrend suggested that selling pressure was still dominant in the market.

While more downside was certainly on the cards, ETH’s support zones can be expected to alleviate incoming selling pressure. However, the price would be constrained going forward. The 20-SMA hovered next to $2,540 and gains would likely be contained below this line over the coming days. Even in the unlikely event of a breakout, ETH did not look ready to climb above $2,900 just yet.

Conclusion 

Ethereum can be expected to find support around $2,080-2,000 region moving forward. A sturdier form of defense rested at $1,730, should it be called into action. In case of a bullish resurgence, ETH could struggle to break above $2,540 over the coming days as bears still had the upper hand.


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Source: https://ambcrypto.com/ethereum-will-this-level-hold-in-the-face-of-selling-pressure

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Scammers are Sending Fake Ledger Wallets to Steal Cryptocurrencies

fake ledger devices

Rate this post Scammers are sending fake Ledger replacement devices to the victims of hacked users exposed in the recent Ledger data breach in order to steal their cryptocurrencies. Victims Of Ledger Hack Receives Fake Hardware Wallet Victims of hacked customer data held by Ledger, which happened almost a year ago are still being targeted by scammers. Over 1 million victims of the hack had their details exposed, including their names, phone numbers, and email addresses with more than 200,000 people also having their home addresses being exposed. Now, scammers have taken a new turn by mailing the same hacked victims fake replacement devices in order to steal their private seeds. A Reddit user initially reported receiving a fake Ledger Nano X device in the mail in an authentic-looking package which included a letter stating the user needed to replace their current wallet for safety reasons. In a Ledger blog post on June 17th, explaining the scam, the company said the box includes a fake letter explaining the “need to replace your existing hardware wallet to secure your funds. This is a scam. The Ledger Nano is fake.” Fake Wallets Designed to Steal User’s Cryptocurrencies The device came in an authentic-looking packaging, with a poorly written letter explaining that the device was sent to replace their existing purportedly signed by Ledger CEO Pascal Gauthier. By tampering with the device, the malicious actors hope to get the victims typing in their recovery words into the fake app, which would enable them to take control of the victim’s funds and gain access to the funds. Last year, customers of Ledgers suffered two significant data leaks, with the first that took place on July 14, when an unidentified third party accessed over one million emails and 9,500 addresses of its customers. The second happened on December 20 when the information was leaked to the internet for free, resulting in a series of phishing and scam attacks by mail.

The post Scammers are Sending Fake Ledger Wallets to Steal Cryptocurrencies appeared first on Cryptoknowmics-Crypto News and Media Platform.

Republished by Plato

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Table of Contents

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Scammers are sending fake Ledger replacement devices to the victims of hacked users exposed in the recent Ledger data breach in order to steal their cryptocurrencies.

Victims Of Ledger Hack Receives Fake Hardware Wallet

Victims of hacked customer data held by Ledger, which happened almost a year ago are still being targeted by scammers.

Over 1 million victims of the hack had their details exposed, including their names, phone numbers, and email addresses with more than 200,000 people also having their home addresses being exposed.

Now, scammers have taken a new turn by mailing the same hacked victims fake replacement devices in order to steal their private seeds.

READ  Michael Saylor Says $400M Bitcoin Reserve Holdings Could Be Liquidated

A Reddit user initially reported receiving a fake Ledger Nano X device in the mail in an authentic-looking package which included a letter stating the user needed to replace their current wallet for safety reasons.

In a Ledger blog post on June 17th, explaining the scam, the company said the box includes a fake letter explaining the “need to replace your existing hardware wallet to secure your funds. This is a scam. The Ledger Nano is fake.”

Fake Wallets Designed to Steal User’s Cryptocurrencies

The device came in an authentic-looking packaging, with a poorly written letter explaining that the device was sent to replace their existing purportedly signed by Ledger CEO Pascal Gauthier.

By tampering with the device, the malicious actors hope to get the victims typing in their recovery words into the fake app, which would enable them to take control of the victim’s funds and gain access to the funds.

READ  Ledger Live New Version Launches Coin Control Feature To Protect Bitcoin Transaction

Last year, customers of Ledgers suffered two significant data leaks, with the first that took place on July 14, when an unidentified third party accessed over one million emails and 9,500 addresses of its customers. The second happened on December 20 when the information was leaked to the internet for free, resulting in a series of phishing and scam attacks by mail.

#Ledger #Ledger Data Breach

Source: https://www.cryptoknowmics.com/news/scammers-are-sending-fake-ledger-wallets-to-steal-cryptocurrencies/

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