Author: bitcrypto.io

Fidelity has cut the value of its holding in Meesho by 33.6% since the original investment, giving the Indian social commerce startup a valuation of $3.5 billion, adjusted for outstanding shares. The U.S. asset manager valued its holding in Meesho at $27.8 million at December’s end, down from the $41.9 million that it invested in the second half of 2022 through a specific mutual fund unit. Fidelity made the disclosure about the markdown in its monthly disclosure on Monday afternoon. Fidelity had marked down the valuation of Meesho to $4.1 billion at the end of October. The startup was valued at…

Daily Top Performer — AltLayer (ALT) The SPX index is up 0.53%, buoyed by higher-than-expected U.S. economic growth in Q4, suggesting the economy might avoid a deep recession. The broader cryptocurrency market is up, with Bitcoin and Ether rising by 0.39% and 0.16%, respectively in the past 24 hours. Today’s outperformer is ALT, which jumped 12.9% after launching ALT token with $2.9 billion valuation. Altlayer (ALT), founded in 2021, is a platform for application developers to create efficient, extensible layers, supporting multi-threading and multi-VM environments. It is compatible with EVM and WASM across various blockchain networks, offering a flexible scaling…

Apple’s upcoming iOS 18 software update may be “the biggest” in the company’s history, according to Bloomberg’s Mark Gurman. iOS 18 is expected to be announced at Apple’s annual WWDC event in June. “I’m told that the new operating system is seen within the company as one of the biggest iOS updates–if not the biggest–in the company’s history,” Gurman wrote in his latest Power On newsletter. “With that knowledge, Apple’s developers conference in June should be pretty exciting.” The news comes a few months after Gurman reported that Apple was hoping for iOS 18 to be its most “ambitious and compelling” update in…

OpenAI hopes to win the trust of parents — and policymakers — by partnering with organizations that work to minimize tech and media harms to kids, preteens and teens. Case in point, OpenAI today announced a partnership with Common Sense Media, the nonprofit organization that reviews and ranks the suitability of various media and tech for kids, to collaborate on AI guidelines and education materials for parents, educators and young adults. As a part of the partnership, OpenAI will work with Common Sense Media to curate “family-friendly” GPTs — chatbot apps powered by OpenAI’s GenAI models — in the GPT Store,…

Rebellions, a South Korean fabless AI chip startup, said today it has closed $124 million (165 billion KRW) in a Series B round of funding to develop its third AI chip, called Rebel. The startup will also use the new capital, oversubscribed with an initial target of $90 million, to ramp up production of its data center-focused chip, Atom, and for hiring. This Series B values the three-year-old startup at approximately $658 million (880 billion KRW) post-money, CFO of Rebellions Sungkyue Shin said in an exclusive interview with TechCrunch. This latest capital infusion brings the total raised to around $210 million since…

In 2021, Oleg Klimov, Vlad Guber and Oleg Kiyasko set out to co-create a platform, Refact.ai, that could convince more companies to embrace GenAI for coding by affording users more customization — and control — over the experience. Klimov and Kiyasko had worked together for nearly a decade building AI-based systems for image recognition and security systems. Guber knew Kiyashko from childhood; they were neighbors in the South Ukranian town of Yuzhnoukrainsk. “It was clear that AI would change the very notion of what engineering is,” Klimov told TechCrunch in an email interview. “As software engineers at heart, we decided…

Since the emergence of Bitcoin in 2009, there have been many other competing cryptocurrencies created, generally referred to as altcoins. These altcoins are differentiated from Bitcoin by their new or extra capabilities. Some examples include Ethereum with its smart contract ability, and Solana, which features a faster processing time. One altcoin making the headlines is the Baby Doge Coin (BABYDOGE). Since its launch on Jun 1, 2021, the altcoin has undergone turbulent price swings, surging by approximately 2,800% after just one month. However, over the next few months, the price of Baby Doge Coin dropped back to its original price range. More recently (over…

Explore the pioneering journey of Ethereum, symbolizing innovation and user empowerment in the dynamic landscape of blockchain’s evolution. Ethereum stands as a decentralized blockchain platform driven by the Ether token, offering users a versatile range of capabilities. From facilitating transactions to playing games, engaging in cryptocurrency trading, storing nonfungible tokens (NFTs) earning interest through staking, and even participating in social media activities, the platform presents a comprehensive ecosystem. Many envision Ethereum as the natural progression of the internet. While centralized platforms like Apple’s App Store embody the era of Web 2.0, Ethereum represents the dawn of Web 3.0—a decentralized, community-driven…

Polymer Labs raises $23M in Series A funding to build Ethereum’s Interoperability Hub. Polymer is excited to announce that its closed $23M in Series A funding. The round was co-led by Blockchain Capital, Maven 11, and Distributed Global with contributions from Coinbase Ventures, Placeholder, Digital Currency Group, North Island Ventures, & Figment Capital. “Polymer’s mission is to establish the next generation of the internet by ensuring that the interoperability layer connecting all blockchains is neutral, open, modular, and permissionless across ecosystems,” said Peter Kim, Polymer Co-founder. Ethereum has established itself as the most vibrant and robust network in Web3, hosting a diverse community of developers and users. However, its scalability…

Main Takeaways The year 2023 has seen a resurgence of excitement in the crypto industry. While it is too early to definitively declare the return of a bull market, things are looking more hopeful than they have for a while. Based on the observation of recent events and trends, the Binance Research team compiled a roundup of several key narratives and metrics to follow in the coming months. Below are the top crypto trends to follow as we navigate into the new year. Bitcoin 2023 has been an eventful year for Bitcoin, with major developments across the entire spectrum of…