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...

SingularityNET reportedly in talks with Fetch.ai and Ocean Protocol for $7.5b token merger

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Blockchain projects focused on artificial intelligence SingularityNET, Fetch.ai and Ocean Protocol are reportedly in talks to merge their tokens into one coin called ASI. According to Bloomberg’s sources familiar with the matter, the three artificial intelligence (AI)-focused blockchain firms are in advanced talks, nearing a consensus to merge their tokens into a single entity. This move aims to consolidate their tokens into an ASI token, potentially attributing a value of approximately $7.5 billion to the merged entity. The proposed announcement of the merger, anticipated as soon as Wednesday, is contingent upon receiving community approval from all entities involved. Despite the merger, the three platforms would maintain their independence, the sources note. The firms are expected to collaborate under the supervision of a “Superintelligence Collective,” led by Ben Goertzel, the founder of SingularityNET. Humayun Sheikh, CEO of Fetch.ai, is expected to be appointed as chairman in this collaborative effort. As of press time, neither SingularityNET, Fetch.ai, nor Ocean Protocol has issued any public statements regarding the matter. Amid the news, SingularityNET’s AGIX token jumped by 10%, while Fetch.ai’s FET gained 15%, according to CoinGecko data. The news surfaces as the crypto market explores new opportunities in the field of artificial intelligence, aiming to diversify its assets. As crypto.news previously reported, Tether, the largest stablecoin issuer by market value, is also expanding its presence in this sector, with a new unit focused on the development of open-source AI models and plans to collaborate with other companies to incorporate these models into products aimed at tackling “real-world challenges.”

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

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Image
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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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 int...
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