Blockchain Security Firm Blockaid Raises $50M to Tackle On-Chain Threats

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What to know: Blockaid secured $50 million in Series B funding led by Ribbit Capital, with participation from GV and existing investors. The company say it scanned over 2.4 billion transactions and blocked 71 million attacks last year. Blockaid plans to expand its research and engineering teams to meet growing demand from financial institutions and Web3 companies. Blockaid, a cybersecurity firm specializing in blockchain security, said it raised $50 million in a Series B funding round to help expand research, engineering and product development. Ribbit Capital led the round, with backing from GV and existing investors including Variant and Cyberstarts, the company said. The funding comes as demand for blockchain security rises, with major financial institutions and fintech firms expanding their on-chain operations. Blockaid, which started operations in 2023 and raised $27 million in a Series A round, provides real-time threat detection for blockchain transactions. The company inte...

Bitcoin passes $70k mark and $1.38 trillion dollar market cap

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Bitcoin (BTC) is back above the $70,000 mark after tumbling for 11 days with high price volatility. BTC is up by 5.4% in the past 24 hours and is trading at $70,500 at the time of writing. The flagship asset’s market cap is slightly above the $1.38 trillion mark with a daily trading volume of $42.7 billion. Data from CoinGecko shows that Bitcoin’s price rally has brought bullish momentum to the global crypto market capitalization with a 5.4% increase — currently hovering around $2.83 trillion. According to data provided by Santiment, the number of whale transactions consisting of at least $100,000 worth of BTC surged by 50.7% over the past 24 hours — rising from 8,233 to 12,404 unique transactions per day. Moreover, Bitcoin’s total open interest (OI) also registered an $800 million increase. Per data from Santiment, the total BTC OI surged from $11 billion to $11.8 billion over the past day. Higher price volatility is usually expected when an asset’s whale activity and open interest register sudden increases. On the other hand, data shows that the amount of trades betting on a further price surge for Bitcoin has hiked. According to Santiment, the total BTC funding rate aggregated from all exchanges jumped from 0.01% to 0.02%. This shows that traders are optimistic about a BTC price surge as the fourth Bitcoin halving gets closer. Per a crypto.news report, “Rich Dad, Poor Dad,” author Robert Kiyosaki believes that the BTC price could potentially surpass the $100,000 mark by September this year. Kiyosaki also claimed that he would purchase 10 more Bitcoins before April. Notably, the Bitcoin Relative Strength Index (RSI) has been consistently declining over the past three weeks despite the overheated market conditions. Santiment data shows that the BTC RSI declined from 49 to 47 over the past 24 hours. The indicator shows that Bitcoin is in good condition for a potential price surge.

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Blockchain Security Firm Blockaid Raises $50M to Tackle On-Chain Threats

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What to know: Blockaid secured $50 million in Series B funding led by Ribbit Capital, with participation from GV and existing investors. The company say it scanned over 2.4 billion transactions and blocked 71 million attacks last year. Blockaid plans to expand its research and engineering teams to meet growing demand from financial institutions and Web3 companies. Blockaid, a cybersecurity firm specializing in blockchain security, said it raised $50 million in a Series B funding round to help expand research, engineering and product development. Ribbit Capital led the round, with backing from GV and existing investors including Variant and Cyberstarts, the company said. The funding comes as demand for blockchain security rises, with major financial institutions and fintech firms expanding their on-chain operations. Blockaid, which started operations in 2023 and raised $27 million in a Series A round, provides real-time threat detection for blockchain transactions. The company inte...
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