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Ex-Pimco, Millennium execs set up crypto advisory business

Coin Telegraph
Ex-Pimco, Millennium execs set up crypto advisory business
Advisory

After leaving crypto liquidity firm GSR in 2023, former Millennium and Pimco executives are coming back to crypto by launching a dedicated advisory firm.

Two former executives at major American investment management firms, Millennium Management and Pacific Investment Management Co (Pimco), are reentering the cryptocurrency space amid a major market rally.

Millennium’s ex-portfolio manager Benoit Bosc and Pimco’s former executive vice president Michael Bressler left their posts to set up a new crypto consultancy firm, x2B, Bloomberg reported on Nov. 11.

Expected to launch in November 2024, x2B will advise crypto projects on sectors like fundraising, tokenomics and market-maker strategy, exchange listing and treasury management.

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SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

Bitget Wallet launches $20M grant for Telegram Mini Apps

Coin Telegraph
Bitget Wallet launches M grant for Telegram Mini Apps
Bitget exchange

Despite TON’s TVL dropping more than 50% since July, Bitget Wallet and Foresight Ventures have given another boost to Telegram’s Mini App ecosystem.

Bitget Wallet, a non-custodial cryptocurrency wallet by Bitget exchange, continues promoting crypto adoption on Telegram by launching a new funding initiative for Telegram Mini Apps.

Crypto investment firm Foresight Ventures and Bitget Wallet on Nov. 11 jointly launched a new $20 million support program for Telegram Mini Apps, according to an announcement shared with Cointelegraph.

The new funding program aims to support the development of new projects in Telegram’s Mini App ecosystem and create new opportunities for developers and projects.

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SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

Republicans won the Senate, but 2 crypto races are still up for grabs

Coin Telegraph
Republicans won the Senate, but 2 crypto races are still up for grabs
Coin Telegraph

Democrat Ruben Gallego was leading in a race for Arizona’s Senate race, while Republican Sam Brown trailed in Nevada. 

Republican lawmakers in the United States have already flipped enough seats to secure a slim majority in the Senate for 2025, but the outcome for two candidates who received support from crypto-backed political action committees (PACs) and executives has yet to be determined.

As of Nov. 8, Republican Kari Lake was trailing Democrat Ruben Gallego in the race for an Arizona Senate seat. Lake has claimed to be a “pro-crypto candidate,” pledging to support some of Donald Trump’s policies on digital assets and Bitcoin (BTC), but did not appear to have received any campaign contributions from industry leaders or support from crypto-backed PACs.

The Fairshake PAC and its affiliates spent more than $10 million on media buys supporting Gallego, who led in the race against Lake with roughly 77% of votes counted at the time of publication. The Arizona lawmaker currently represents the state’s 3rd congressional district and voted in favor of the Financial Innovation and Technology for the 21st Century Act while in office.

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SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

After US election wins, the crypto industry looks to the 2026 midterms

Coin Telegraph
After US election wins, the crypto industry looks to the 2026 midterms
Coin Telegraph

Contributions from Coinbase and statements from executives suggested that crypto companies were likely to keep pouring money into future US elections. 

Though reporting varies and may still come in after all the elections are called, many experts said crypto interest groups and political action committees (PACs) spent more than $100 million through campaign contributions and media buys supporting or opposing political candidates in the United States — a strategy that is unlikely to change after 2024.

As of Nov. 7, more than 200 candidates running for the House of Representatives, Senate, and White House who had expressed support for digital assets and blockchain had won their respective 2024 races. Among some of the biggest wins crypto leaders claimed would be good for the industry included Republican Donald Trump for US President and Bernie Moreno for one of Ohio’s Senate seats. 

“The Ohio race was actually incredibly impactful and really proved just how powerful the crypto lobby is now,” Exodus chief legal officer Veronica McGregor told Cointelegraph, adding: 

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SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

Solana rally follows Bitcoin price as SOL data points to traders’ $200 target

Coin Telegraph
Solana rally follows Bitcoin price as SOL data points to traders’ 0 target
Bitcoin

Solana gains alongside Bitcoin’s US election-related rally, and data hints that SOL price could hit $200. 

Solana’s native token SOL (SOL) opened the day with a 5.3% gain to trade slightly above $167. The move accompanied Bitcoin’s (BTC) US election day rally to $70,550, and for many traders, the desired target for SOL rests closer to $200. 

Currently, onchain data and derivatives market metrics suggest that SOL’s rally could continue in the short-term. 

Solana continues to lead in decentralized exchange (DEX) volumes, a clear indicator of user activity and transaction fees, both of which are crucial for fostering sustainable growth and encouraging further project and trader adoption.

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SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

Sequoia to make $100M windfall from Stripe’s Bridge acquisition: Report

Coin Telegraph
Sequoia to make 0M windfall from Stripe’s Bridge acquisition: Report
Acquisition

Sequoia Capital owns 16% of Bridge, which is set to be acquired by payments platform Stripe for $1.1 billion. 

Venture capital firm Sequoia Capital, which owns 16% of stablecoin platform Bridge, could rake in over $100 million from Stripe’s $1.1 billion acquisition deal of the firm. 

Sequoia made a $19 million investment in the crypto firm’s Series A round, which took place within the last year, Bloomberg reported on Oct. 29, citing people familiar with the matter. 

Other VC firms are also set for hundreds of millions of dollars in windfall from their stakes in Bridge, including Ribbit Capital, Haun Ventures, Index Ventures, and Bedrock Fund Management.

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SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

Fireblocks launches $1M grant program to boost PYUSD developer adoption

Coin Telegraph
Fireblocks launches M grant program to boost PYUSD developer adoption
Coin Telegraph

As part of the program, developers can apply for up to $60,000 in grant funding to support their projects.

Digital assets management platform Fireblocks has announced the launch of a $1 million grant program for companies building blockchain-based projects using the PayPal USD (PYUSD) stablecoin. 

Qualifying projects will be eligible for up to $60,000 in grants as part of the program, which was extended on Oct. 24 after an extensive beta period with payment companies KoraPay and Bridge. 

“Our pilot has already shown the transformative impact PYUSD can have, and we look forward to seeing businesses create real-world use cases that take advantage of what stablecoins can offer,” said Ran Goldi, the senior vice president of payments and networks at Fireblocks, in an announcement.

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SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

AI startups draw record $11.8B funding in Q3

Coin Telegraph
AI startups draw record .8B funding in Q3
2024

According to Stocklytics, AI startups accounted for 30% of total venture capital funding in the third quarter of 2024.

Despite a general decline in venture capital funding, artificial intelligence startups saw another quarter of strong cash injections. 

According to data compiled by analytics company Stocklytics, AI startups raised $11.8 billion during the past 90 days, accounting for 30% of total venture capital funding in the third quarter of 2024. 

The surge occurred despite the United States increased export restrictions on AI chips, valuation uncertainties, and earlier disappointing earnings from startups, creating a mixed landscape for investors.

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SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

AI Powerhouse Openai Reportedly Seeking to Raise $6.5 Billion at a $150 Billion Valuation

Bitcoin.com
AI Powerhouse Openai Reportedly Seeking to Raise .5 Billion at a 0 Billion Valuation
AI
AI Powerhouse Openai Reportedly Seeking to Raise .5 Billion at a 0 Billion ValuationOpenai, the company at the center of the artificial intelligence (AI) revolution, is reportedly seeking to raise $6.5 billion from investors, reaching a valuation of $150 billion. According to Bloomberg, the funds would be used to support the need for computing power and other expenses, as stated in a memo sent to employees last month. […]
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SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

Blockchain music startup Tune.fm raises $50M from Global Emerging Markets

Coin Telegraph
Blockchain music startup Tune.fm raises M from Global Emerging Markets
Blockchain

The fresh capital brings Tune.fm's total funding to $80 million. The funds will be used to reward artists and users within the platform.

Decentralized music streaming platform Tune.fm has a new investor. According to a Sept. 12 announcement, the protocol has received $50 million in capital from Global Emerging Markets, bringing its total funding to date to $80 million. 

The new investment will be allocated to provide liquidity for the protocol’s JAM token (JAM), used within the platform to reward artists and users. Prior investors in Tune.fm include LDA Capital, Alpha Token Capital, Block Alpha, Animoca Brands, The HBAR Foundation and GDA Capital, among others. 

The platform offers music streaming services with an integrated non-fungible token (NFT) marketplace. Artists receive micropayments for every second their music is streamed, while users can earn tokens by discovering and listening to newly promoted songs. The platform is powered by the Hedera blockchain. 

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SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

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