thrive

ChainCatcher news, the payment-focused blockchain project Tempo, supported by fintech giant Stripe and blockchain venture capital firm Paradigm, announced the completion of a $500 million Series A funding round, led by venture capital giants Greenoaks and Thrive Capital, founded by Joshua Kushner. This round of financing values Tempo at $5 billion, with participation from Sequoia Capital, Ribbit Capital, and Ron Conway's SV Angel.

ChainCatcher news, according to Jinshi Data, U.S. Secretary of Commerce Raimondo stated that cryptocurrency needs a regulatory framework to thrive.

ChainCatcher message, the CEO of Visa stated that cryptocurrency will experience a boom similar to "e-commerce in the 1990s," with widespread adoption expected in the next decade. He emphasized that the widespread use of cryptocurrency is imminent.

ChainCatcher news, Bitwise Chief Investment Officer Matt Hougan stated on social media that the four-year cycle of cryptocurrency has "failed," and the future will be characterized by "sustained stable prosperity";The forces that created the previous four-year cycle are weakening:Halving occurs every four years;Interest rate cycles are positive for cryptocurrency, rather than negative (as seen in 2018 and 2022);The risk of explosions is reduced due to improved regulation and institutionalization of the space;Greater forces are operating on a timeline that is not synchronized with the four-year cycle:Asset inflows into ETFs are a 5-10 year trend, starting in 2024;Broader institutional adoption has just begun (ETFs are still being approved on national account platforms, and pension funds and endowments are just beginning to consider cryptocurrencies, etc.);The regulatory process will officially start in January 2025 and will last for several years;Wall Street has just begun to lay out its plans in the cryptocurrency space and will invest billions of dollars over the next few quarters and even years. This started with the passage of the "Genius Act" this month.Hougan believes that the long-term forces favoring cryptocurrency will overwhelm the classic "four-year cycle" forces, and 2026 will be a good year, more like "sustained stable prosperity" rather than a super cycle.

ChainCatcher news, according to the Financial Times, AI code editor Cursor has completed a new round of $900 million financing, led by Thrive Capital, with participation from Andreessen Horowitz (a16z) and Accel. After this round of financing, Cursor's parent company Anysphere is valued at $9 billion.

ChainCatcher news, U.S. Congressman Tom Emmer, who supports the cryptocurrency industry, stated: "I am honored to be selected as the Vice Chair of the Subcommittee on Digital Assets, Financial Technology, and Inclusion.With President Trump in the White House and Gary Gensler locked in the Washington dumpster, we have a tremendous opportunity to ensure that the future of digital assets is guided by Americans and aligned with American values. I look forward to working with Chairman French Hill, Chairman Bryan Steil, and other colleagues to create an environment where digital asset innovation can thrive."Previous news, U.S. House Financial Services Committee Chairman French Hill has appointed Tom Emmer as the Vice Chair of the Subcommittee on Digital Assets, Financial Technology, and Inclusion. He also nominated other Republican members to the committee.

ChainCatcher news, the Blockchain Association stated that the elected President Trump attended the Blockchain Association's annual gala and delivered a speech: he affirmed the efforts of the Blockchain Association for cryptocurrency legislation in the United States; he mentioned that real use cases like DePIN legitimize cryptocurrency and place it on the legislative priority list; he promised to ensure that Bitcoin and cryptocurrency thrive in the United States.

ChainCatcher news, Trump announced the appointment of Silicon Valley investor David O. Sacks as the White House Director of Artificial Intelligence and Cryptocurrency. He posted on the social media platform Truth Social, "I am pleased to announce that David O. Sacks will serve as the 'White House Director of AI and Cryptocurrency.' In this important position, David will guide the government's policies in the two areas that are crucial to America's future competitiveness: artificial intelligence and cryptocurrency.David will work to make the United States a clear global leader in both fields. He will protect online free speech and keep us away from the biases and censorship of big tech companies. He will be dedicated to establishing a legal framework that provides the clarity the cryptocurrency industry has long sought, allowing it to thrive in the United States. David will also lead the President's Council of Advisors on Science and Technology. With his knowledge, business experience, wisdom, and pragmatism, David will make America great again in these two critical technologies. Congratulations, David!"

ChainCatcher news, according to TechCrunch, OpenAI announced that it has raised $6.6 billion in a new round of financing, with a post-financing valuation of $157 billion, led by Thrive Capital. According to Crunchbase data, OpenAI has raised a total of $17.9 billion.According to The New York Times, Thrive invested about $1.3 billion in this round of OpenAI financing and has an exclusive option to reinvest up to $1 billion at the same valuation before 2025. Microsoft, Nvidia, SoftBank, Khosla Ventures, Altimeter Capital, Fidelity Investments, and MGX also participated.The Wall Street Journal reported that Microsoft's investment is close to $1 billion, Nvidia has committed to invest $100 million, and SoftBank invested $500 million.

ChainCatcher news, according to CoinDesk, investment bank Architect Partners pointed out in its quarterly report that the cryptocurrency industry is about to enter a significant growth phase and has begun to surpass the internet within the same lifecycle. The report shows that in the first half of this year, the market capitalization of the cryptocurrency industry increased by over $750 billion. Of this, over $700 billion came from the surge in the value of crypto tokens, more than $15 billion originated from the Bitcoin spot ETF launched in the U.S., and the market capitalization of listed crypto companies grew by $11 billion.In addition, the total value of trading announcements in the second quarter reached a new high of $2.7 billion, exceeding the total of the previous eight quarters. Architect Partners stated that the crypto winter is over, market confidence and momentum are recovering, and professionalism, risk management, and ethical behavior are becoming the foundational principles of the crypto industry.

ChainCatcher news, according to Cryptopotato, 16z partner Chris Dixon expressed concerns about the U.S. regulatory system, questioning why meme coins can thrive while cryptocurrency companies and blockchain tokens with useful applications are "stuck in regulatory hell" due to the possibility of being classified as securities.Chris Dixon stated, "But my goal is not to defend or diminish meme coins. It is to point out the absurdity of the U.S. regulatory system, which allows only meme coins to flourish while crypto companies and blockchain tokens with more efficient uses face obstacles. We see this every day when working with entrepreneurs and startups. Any meme creator can easily create, launch, and even automatically list a token. But what about those entrepreneurs trying to create something lasting? They are stuck in regulatory hell."Dixon referred to this as the distinction between "computers and casinos," where one culture focuses on innovation while the other focuses on speculative trading. He advocated for better regulatory frameworks to protect investors and prevent get-rich-quick schemes.Dixon also drew a parallel to the post-Great Depression era, emphasizing the need for a regulatory framework in the cryptocurrency market while advocating for a system that recognizes the different characteristics of tokens to ensure a fair, efficient, and secure market for investors.

ChainCatcher news, after Sam Altman resumed his role as CEO of OpenAI, the plan for OpenAI to sell employee stock is back on track, with the company's valuation currently at $86 billion. The deal is expected to be completed next month.In addition, investors led by Thrive Capital will purchase up to $1 billion in stock held by employees or other investors, and may buy more.