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...

Tether Made 'Unsolicited' Bid for Majority Stake in $1B LatAm Agribusiness Adecoagro

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What to know: Tether's investment arm earlier this month submited a non-binding, unsolicited offer to acquire a majority stake in agricultural producer firm Adecoagro. The bid is for $12.41 per share. Adecoagro's New York-listed shares (AGRO) are higher by 8% premarket to $10.48. Adecoagro’s board is reviewing the offer with financial and legal advisors. Tether, the crypto firm behind the $140 billion dollar USDT stablecoin, made an "unsolicited" proposal to acquire a majority stake in Latin American agricultural commodities producer firm Agrodeco (AGRO). The Adecoagro board met on Feb. 16 to discuss the bid and has engaged financial and legal advisors to determine whether accepting the offer aligns with shareholders' interests, the company said. Adecoagro's shares jumped 8% premarket to $10.48 in premarket trading in New York. Adecoagro is a major player in South America’s agribusiness sector focusing on sugar, ethanol, dairy, and crop production and operating across Argentina, Brazil, and Uruguay. "Land is a critical asset class, scarce, yielding long-term returns, and historically a safe haven during geopolitical uncertainty," a Tether spokesperson said in an email to CoinDesk. "Investing in agriculture aligns with our vision of resilience and sustainability, complementing our existing holdings in bitcoin (BTC) and gold. Adecoagro, with its focus on essential agricultural production, represents an opportunity to support an industry fundamental to humanity’s future." Tether's investment offer comes as the company is expanding beyond its core crypto business. The stablecoin issuer said it raked in $13 billion in net profits last year.

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