Berachain Raises $100M

Hi NoRamp Community,

Daily News:

1) Winklevoss Twins Invest $4.5M in Peter McCormack’s Football Club

2) Chainlink to Make Blockchain Transfers Safer with Bridge App 'Transporter'

3) Berachain Raises $100M

4) Bunq Raises $31 Million

5) Stripe Raises $694M Through Share Sale

Winklevoss Twins Invest $4.5M in Peter McCormack’s Football Club:

• Winklevoss Capital, founded by Cameron and Tyler Winklevoss, has invested $4.5 million in Real Bedford (RBFC), a non-league football club owned by crypto podcaster Peter McCormack. Both brothers will become co-owners alongside McCormack.

• McCormack, who acquired RBFC in 2021, has ambitious plans to elevate the club to the Premier League. Under his leadership, the club has already won a league and cup double in its first season and advanced to the Spartan South Midlands Premier League.

• The investment reflects the Winklevoss twins' belief in McCormack's vision and leadership, aiming to realize the dream of bringing Premier League football to Bedford. This is part of a broader trend where football clubs globally are increasingly partnering with crypto companies and platforms.

Chainlink to Make Blockchain Transfers Safer with 'Transporter’:

• Chainlink has launched a new blockchain bridge application called "Transporter," designed to enable users to transfer crypto assets and data across multiple networks. The application is intended for both individual users and institutions, providing a cost-efficient solution for secure, high-value token transfers.

• Transporter is compatible with multiple blockchains including Arbitrum, Avalanche, Base, BNB Chain, Ethereum, Optimism, Polygon, and WEMIX. It aims to enhance the functionality of Chainlink’s oracle service by facilitating connections between different blockchain platforms.

• Built on Chainlink’s Cross-Chain Interoperability Protocol (CCIP), Transporter emphasizes security in cross-chain transfers, a response to the vulnerabilities often exploited in blockchain bridges. The platform includes a real-time visual tracker for monitoring transfers and applies standard CCIP fees for transaction execution and service provider costs.

  

  Source: Decrypt

Berachain Raises $100M:

• Berachain, a layer-1 blockchain utilizing Cosmos technology, has successfully raised $100 million in a Series B funding round co-led by Brevan Howard Digital and Framework Ventures. The round also saw participation from other major investors like Polychain Capital and Samsung Next, signaling strong market support.

• The blockchain, founded by pseudonymous bear-themed founders including Smokey the Bear, is designed to optimize network incentives for security and liquidity using a proof-of-liquidity consensus mechanism. This innovative approach aims to address limitations of the proof-of-stake model by increasing liquidity and decentralizing inflation.

• Berachain plans to use the funding to bolster its engineering resources, expand economic growth initiatives, and extend its global reach into regions such as Hong Kong, Singapore, Southeast Asia, Latin America, and Africa. The project has transitioned from a successful NFT venture to a promising blockchain platform with its testnet achieving significant engagement, and is preparing to launch its mainnet within the quarter.

Bunq Raises $31 Million:

• European neobank Bunq secured a 29 million euros ($31 million) commitment from shareholders for expansion, adding to a 125 million euros ($133 million) capital injection received up to December 2023. This funding supports rapid growth and user integration as detailed in its 2023 annual report.

• Bunq's user deposits quadrupled to 6.9 billion euros ($7.3 billion) in 2023, driven by competitive interest rates on savings accounts, bringing its user base to over 11 million. Continued capital injections are anticipated in 2024 to meet capital requirements.

• Bunq is actively pursuing regulatory licenses, having reapplied for an eMoney Institution (EMI) license in the UK and considering a U.S. banking license reapplication. Additionally, it launched the AI platform Finn to enhance financial management for users and expanded its service offerings to include cash back, savings bonuses, and purchase protection.

Stripe Raises $694M Through Share Sale:

• Fintech giant Stripe has raised $694.2 million through a stock sale, as revealed in a US Securities and Exchange Commission (SEC) filing. This sale is part of a tender offer aimed at providing liquidity for current and former Stripe employees.

• The latest funding round values Stripe at $65 billion, a 30% increase from last year's $50 billion valuation, following over $6.5 billion raised and the acquisition of the fintech company Okay.

• Stripe's CFO, Steffan Tomlinson, cited continued strong momentum with major partners like Airbnb, Microsoft, Uber, and WhatsApp as a key factor in the new valuation. The company used part of the funds to buy back shares, offsetting dilution from employee stock programs, amid ongoing speculation about a potential IPO.

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