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BTC $71,199.61 +1.11%
ETH $2,195.92 +1.68%
BNB $604.94 -1.49%
XRP $1.35 -0.17%
SOL $82.78 -1.42%
TRX $0.3178 +0.90%
DOGE $0.0931 +0.12%
ADA $0.2521 -1.08%
BCH $442.37 +0.20%
LINK $8.94 -0.08%
HYPE $38.99 +2.64%
AAVE $92.67 +0.45%
SUI $0.9224 +0.84%
XLM $0.1579 -0.77%
ZEC $323.62 +4.11%

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CZ's new book reveals: During the 9·4 period, the silence of venture capital left him disappointed, and Sequoia ultimately backed out due to a breakdown in valuation talks

Binance founder Zhao Changpeng (CZ) recalled in his new book that after the "9·4" regulatory policy was introduced in 2017, venture capital firms as a whole became more cautious, and Sequoia Capital, which had originally expressed investment intentions, also paused related cooperation. He stated, "Seeing the venture capitalists collectively silent during our most difficult September, I was actually quite disappointed."CZ revealed that prior to this, Sequoia had expressed investment interest at the beginning of He Yi's joining, but chose to wait and see in light of the policy impact. Subsequently, Binance achieved rapid growth from September to October, with the number of users increasing from about 20,000 in August to about 120,000 by late October, ranking among the top ten exchanges globally and becoming profitable.CZ stated that by the end of October, after the risk phase had basically passed, Sequoia re-expressed its investment intentions, but they had proposed to raise the valuation requirement. Ultimately, the two sides could not reach an agreement due to valuation differences. The other party then proposed to pursue legal proceedings, and a week later, four large boxes of legal documents were delivered. CZ said this was the "first time in his life becoming a defendant." CZ mentioned that he later learned that the lawsuit was led by Sequoia's legal team in the U.S., who are skilled at using the media to create public opinion, "the media reporters knew before I, the party involved."

Insurance capital giant's initial position of 20 million USD, State Street launches treasury custody, Iris achieves full retention

According to BBX data, yesterday global listed companies released strong fundamental signals in "traditional finance entry" and "small and mid-cap dollar-cost averaging":$20 million insurance capital entry: Corebridge Financial (NYSE: $CRBG) disclosed yesterday that the board has approved a $20 million Bitcoin allocation plan. As one of the largest retirement and life insurance providers in the U.S., this move marks the beginning of risk-averse "insurance capital" incorporating BTC into long-term reserves.100% monthly retention: Iris Energy (NASDAQ: $IREN) released its unaudited production report for March yesterday, confirming that its monthly output of 450 BTC has been fully transferred to cold wallets, officially joining the "zero-sale mining company" club.5% cash flow conversion: Beyond Inc. (NYSE: $BYON) (formerly Overstock) updated its corporate treasury guidelines yesterday, announcing that it will convert 5% of its free cash flow at the end of each quarter into Bitcoin, reviving its hard asset strategy as an early crypto payment evangelist in North America.Bond issuance to acquire 50 BTC: Cathedra Bitcoin (TSX-V: $CBIT) announced yesterday the completion of a $4 million priority secured bond issuance, with the raised funds fully used during the trading day to purchase 50 BTC at market price.Century-old institution launches custody: State Street (NYSE: $STT) officially opened its enterprise-level digital asset custody vault to Nasdaq and NYSE listed companies yesterday. The implementation of this compliant infrastructure directly removes the audit barriers for hundreds of conservative companies to purchase cryptocurrency.
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