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UK Startup Flock Taps Chamath Palihapitiya as Lead Investor in $17M Series A Funding Round

3 days ago

The backing of the Flock’s funding round by Palihapitiya was born out of the conviction that the firm is all in to redefine the scope of our growing hyper-connected world.United Kingdom-based Connected car insurance startup Flock has completed its Series A funding round, pulling as much as $17 million. According to TechCrunch, billionaire investor, Chamath Palihapitiya leads the funding round with $10.6 million, and the firm’s existing investors Anthemis and Dig Ventures also participated in the funding round.Flock’s journey since it was founded in 2015 by Ed Leon Klinger and Antton Pena has been quite disruptive in the auto insurance industry. The firm started out by redesigning insurance policies to commercial drone operators such as Netflix, the BBC, and a medical delivery service

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Lloyds Banking Group Set to Acquire Embark for £390 Million as Q2 Pretax Profits Rise

3 days ago

In line with the move, Lloyds increased its net new money target to around £40 billion in 2023.British financial institution Lloyds Banking Group PLC is set to buy major WealthTech player Embark Group for £390 million. The UK banking giant will acquire £35 billion of assets under administration from the Dundee-based retirement solutions provider. The deal, which is Lloyds’ biggest since it returned to private ownership four years ago, will also see it inherit about 410,000 customers. However, Embark’s Rowanmoor SIPP and SSAS administration are excluded from the package deal and will be retained by existing shareholders.Lloyds Banking Group’s Plans to Buy EmbarkThe newly acquired business consolidates Lloyds’ existing partnerships which caters to the more complex financial planning and

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EY Collaborates with UK Authorities to Design Blockchain Solution for Global Tax Problem

3 days ago

With the current solution, it is possible to envision European Commission’s plan to commence establishing a collaborative, mainstream EU-wide system for withholding tax relief at source. Ernst & Young Global Limited (EY) has collaborated with the UK government to design an extensive blockchain project to help with problems related to the cross-border withholding tax process.The complications of foreign withholding tax arise when a paper-based conventional process of data saving is lost or the shared data is not genuine due to privacy concerns. The multinational professional services network company, also known as EY, announced on Wednesday that it had targeted the complexities of the international withholding tax process in its attempt to better the taxation process in the European

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Uniswap Puts Decentralized Finance (DeFi) Projects on Spotlight in Token Delisting Saga

3 days ago

DeFi will likely continue to amass more users at the current pace of innovation as systems become scalable and interoperable. This raises the probability of crypto users opting for alternative DeFi environments despite Ethereum’s current market dominance.Uniswap, a Decentralized Application (DApp) built on the Ethereum blockchain, is making headlines in the crypto market following a decision by Uniswap Labs to delist some tokens from the interface. The Brooklyn based firm shared a list of about 100 tokens that it has delisted, most of which are tokenized stocks and derivative instruments.However, Uniswap Labs was keen to note that its protocol will remain open-source, allowing DeFi users to leverage the Interface code to access the delisted tokens through other platforms. While the

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FTX Renames Blockfolio Trading App in Fresh Branding Move

3 days ago

By uniting the brand identity, FTX is looking to rival Coinbase and other major trading platforms.FTX has announced that FTX: Blockfolio mobile app will now be called FTX mobile app. The crypto exchange had acquired the Blockfolio portfolio tracking app for $150 million in August 2020. Prior to that time, Blockfolio had over six million crypto enthusiasts on its platform. Following the acquisition, the app morphed into a trading app and took a hybrid name FTX: Blockfolio. Since then, the goal has been to integrate the trading platforms via FTX.COM and FTX.US.What the Renaming of the Trading App into FTX Will DoBeginning on Wednesday, the name change were effected on the app and users of the FTX: Blockfolio can see it. The company announced that the change would have no effect on the

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Bitcoin-Rewarding App Lolli Raises $10 Million in Series A Funding

3 days ago

Lolli said that this funding will go towards expanding in the global market, hiring, new partnerships, and further development of the recently launched mobile app.Crypto firm Lolli, which rewards users in free Bitcoins against shopping, has raised $10 million in a Series A funding round led by Acrew Capital. Other players joining this funding round were Up North Management, Banana Capital, and Animal Capital.Besides, it has investments from influencers and entrepreneurs like Logan Paul, Chantel Jeffries, Baron Davis and others. The crypto fundraising market is catching up with the heat as the industry continues to grow. Interestingly, the latest funding comes after Lolli raised $5 million in pre-Series A round just four months earlier. With Series A, Lolli’s total funding to date has gone

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Volkswagen Reports Record First Half Earnings Encouraging Car Manufacturer to Raise Profit Margin Target

3 days ago

Volkswagen posted first half earnings of $13.5 billion and now expects operating return on sales to go as high as 7.5%.German automaker Volkswagen AG (XETRA: VOW) on Thursday, July 29, posted record first half sales of 11.4 billion euros ($13.5 billion) after experiencing a surge in demand for its products. The increased demand for premium cars in Europe and the Americas, and the tripling of electric car sales majorly contributed to the company’s sales volume. As a result, Volkswagen has now raised its projected profit margin target for the second time in three months. The company’s expected operating returns on sales is now between 6% and 7.5%. This is higher than the previously projected range between 5.5% and 7%.The German car maker’s second-quarter deliveries were pegged at 2.55

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Bitcoin Price Records Retracement as Bulls Get Rejected at $40,000 Support Zone

3 days ago

The fiscal and economic policies being rolled out by the Feds in various nations, particularly the United States can also help in the Bitcoin price retracement moves.The price of Bitcoin (BTC) is seeing a gradual retracement as market bulls’ effort leading to the breach of the $40,000 resistant zone was met with rejection. At the time of writing, Bitcoin is changing hands at $39,915.36, down 0.21% in the past 24 hours according to CoinMarketCap.The snapshot performance of Bitcoin is in contrast to its 24 hours price record, which saw the cryptocurrency print its biggest price gain of $40,816.07 in more than a month. The current Bitcoin price retracement has been seen by analysts as a viable move to help the digital currency secure a new rebound. Commenting on the price volatility,

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Robinhood Secures $32B Valuation in IPO, Set to Debut on Nasdaq Exchange

3 days ago

The shares are expected to begin trading on the Nasdaq Global Select Market on July 29, 2021, under the ticker symbol “HOOD”.Robinhood, a famous stock and crypto-trading app, is set to debut on the Nasdaq exchange on Thursday following a $32 billion valuation via its initial public offering (IPO). In a press release from the company on Wednesday, it revealed that it has priced its offering at $38 per Class A common stock share. The $38 pricing of the company’s common stock is on the lower end of the $38-$42 per share price range it targeted and had planned on selling 5.5 million shares targeting a $1.89 billion raise.The statement by the company also indicated that the net proceeds to Robinhood from the sale of the common stock in this offering will be approximately $1.89

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Coca-Cola to Create Custom NFT Collection to Raise Money for Special Olympics International

3 days ago

Coca-Cola will be offering these special NFTs in a three-day OpenSea Marketplace auction.Coca-Cola as the leading world beverage brand will be entering the NFT domain by creating a special collection of non-fungible tokens to celebrate International friendship day. The NFTs will be available for an auction on the NFT marketplace called OpenSea from July 31st to 2nd August. The proceeds collected with the help of this auction will be sent to Special Olympics International that is closely associated with helping children and adults combatting various body disabilities.Coca-Cola Is Set to Build an NFT Collection Together with Digital Creator TafiCoca-Cola will be offering these special NFTs in a three-day OpenSea Marketplace auction. The NFTs will be created via a partnership with digital

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COVID-19 Fund Manager: Only $20M of Buterin $1B Shib Donation Cashed Out

4 days ago

The fund manager in charge of receiving the SHIB donations from Vitalik Buterin for COVID-19 relief in India has revealed bottlenecks to the process.Although Ethereum (ETH) co-founder Vitalik Buterin donated $1 billion in SHIB tokens to a COVID-19 relief fund in India, recipients and distributors have received only about $20 million.The founder of the receiving fund, Sandeep Nailwal, recently spoke to reporters about the problem. Nailwal, who is also the Polygon (former Matic) co-founder, said that the problem is a genuine carefulness to ensure that the funds reach the grassroots. Both Nailwal and Buterin want to ensure that as quickly as possible, the funds reach the intended recipients, especially those who need them the most. Nailwal also told reporters that he will employ an auditor to

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V Stock Down 1.5% in Pre-market, Visa Reports Fiscal Q3 2021 Earnings

4 days ago

Visa reported revenue of $6.1 billion in Q3 2021 against an estimate of $5.86 billion according to a consensus by FactSet.Visa Inc (NYSE: V) stock traded around $247, 1.57% down during Wednesday’s pre-market. The downshift comes at a time when publicly traded companies are reporting the quarter that ended on June 30. Notably, Visa reported a blowout Q3 2021 earnings that beat analysts’ expectations.According to news outlet MarketWatch, Visa reported a net income of $2.6 billion, up from $2.37 billion a year ago. Notably, the figure represented $1.18 per share during the just-concluded quarter in comparison to $1.07 per share. During the third fiscal quarter, Visa reported revenue of $6.1 billion against an estimate of $5.86 billion according to a consensus by FactSet. According to the

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Binance Integrates Tax Reporting Tool as It Limits Withdrawals for Customers with No KYC

4 days ago

Beyond the integrated Binance tax reporting tool, the exchange has also taken action to reduce the daily Bitcoin (BTC) withdrawal limit for its users that have not completed the KYC verification requirement.Binance, the world’s largest cryptocurrency exchange by trading volume has provided integration for a tax reporting tool in a bid to continually pacify regulators. As the regulatory scrutiny on the trading platform tightens, it is steadily overhauling its operational offerings to make its products and services more compliant to the broader financial standards.Per the firm’s update on the tax reporting tool which is billed to become effective today, the tool is a “new API tool to allow Binance users to easily keep track of their crypto activities in order to ensure they are fulfilling

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Ripple Launches On-Demand Liquidity Corridor between Philippines and Japan

4 days ago

The availability of the Ripple ODL option in Japan means customers of RippleNet can leverage the digital asset XRP to eliminate pre-funding and reduce operational costs.In a move to accelerate and grow cross-border payments, Ripple, the leading provider of enterprise blockchain and cryptocurrency solutions for global payments, has announced the launch of its first-ever live On-Demand Liquidity (ODL) service implementation in Japan. The new payment corner was launched in collaboration with the largest money transfer provider in Japan, SBI Remit Co., Ltd and one of the leading mobile wallet services in the Philippines, Coins.ph. This partnership, which is a landmark one, follows on from Ripple’s expansion in Asia after acquiring a 40% stake in cross-border payments firm Tranglo in March. It

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Ether Trading Volume Rate Hire than Bitcoin’s in H1 2021

4 days ago

Even though Bitcoin’s trading volume is still higher than Ether’s, the year-on-year growth for the latter is breaking all records.Ether, the world’s second-largest cryptocurrency, has hammered Bitcoin in terms of trading volume growth. The new report elaborates on the growth of Ethereum trading in the first six months of the year.According to a review report shared by Coinbase Institutional H1 2021, the first six months have been very agile for the crypto market, with quite a few peaks in prices because of a conformation to the crypto trading markets by the public. The report covered twenty exchanges around the world, disclosing that the Ether increase in trading volume skyrocketed to 1,461% in a year. In 2020, Ether’s trading volume was approximately around $92 Bn which has increased to

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US Stock Futures Giving Mixed Signals Pulling Back from Record Highs

4 days ago

Chinese crackdown on tech and education companies put pressure on Asian indices. On the other hand, the US tech giants continue to post stellar returns in the second-quarter earnings season. During the early morning trading on Wednesday, the US stock futures showed mixed signals with major averages pulling back from record high levels. The futures for the Dow Jones Industrial Average (DJIA) is showing a minor dip.On the other hand, the futures for S&P 500 and Nasdaq 100 are trading in positive territory. On Wednesday, the Dow Jones dipped 0.24% and the S&P 500 dipped 0.47%. However, the tech-heavy Nasdaq Composite tanked 1.21% registering its worst performance since May 12. Besides, the ongoing crackdown by China on tech and education companies triggered a sell-off in Asian markets. In

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US-based Bitcoin Mining Firm Stronghold Files for $100 Million IPO

4 days ago

In the IPO filing, Stronghold noted that with the fundraising, it will purchase an additional 27,300 crypto miners to expand its operations and increase its hash rate.Amid the recent crackdown by China on Bitcoin miners, the US is emerging as the next big market. Stronghold Digital Mining, the Pennsylvania-based Bitcoin miner is now willing to raise $100 million through an initial public offering (IPO).The company filed its S1-form on Tuesday, July 27, with the US Securities and Exchange Commission (SEC). Under the ticker of SDIG, the firm is also willing to list its Class A stock on the Nasdaq exchange. Stronghold specializes in converting coal mining leftovers like waste coal into power used to mine Bitcoin. Pennsylvania regulators also qualify waste coal as an alternative energy source

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Dash Offers DashDirect, App for US Customers to Shop in 155K Retail Locations

4 days ago

It is a non-custodial app which means customers can fully control and manage their Dash holdings without paying any exchange fee to a third party.DashDirect, the new consumer-focused retail app by Dash, will bring ground-breaking results as it would mean direct adoption of cryptocurrency by retail merchants.Cryptocurrencies would stop being a playground for the few as newer blockchain-based payment products enter the market. Dash, the open-source cryptocurrency, has made a fresh foray and launched its unique retail app that will help US customers not just spend their Dash cryptocurrency for everyday purchases but also earn instant savings. This retail adoption of the Dash cryptocurrency was made possible with the investment from Dash Investment Foundation. The app was designed by an

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Changpeng Zhao Is Open to Stepping Down as Binance CEO in Pursuit of Regulatory Compliance

4 days ago

While the Changpeng Zhao potential exit is one of the defined ways Binance looks to get back on track with regulators, the firm is also doing a lot to pacify watchdogs across the board. Changpeng Zhao, the vocal and social media-friendly Chief Executive Officer of the world’s largest cryptocurrency exchange, Binance has reiterated his readiness to step down should the candidate with the right regulatory experience come along. Speaking at a virtual press conference Tuesday, Zhao, popularly known as ‘CZ’ on Twitter said despite his readiness to step down, there is no immediate plan for him to resign, however, Binance has a succession plan in place.By far the largest cryptocurrency exchange platform by trading volume, Binance has come under a lot of regulatory scrutinies across various

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Burger King Customers in Brazil Can Pay in Dogecoin for ‘Dogpper’ Dog Food

4 days ago

In an interesting marketing move, the Burger King franchise in Brazil is selling the Doggeper burgers for Dogecoin (DOGE). The offer will be available only for a limited period of time.The Burger King franchise at a few locations in Brazil has started accepting Dogecoin (DOGE) payments. However, this is currently limited only to the purchase of a recently introduced biscuit dubbed Doggper. The official advertisement from Burger King Brazil notes:“Now you can buy Dogepper with dogecoin, take advantage of it. What is the best way to pay for a product aimed at dogs? Obviously, Dogecoins”. The company’s official website shows that the service is available since Monday. However, customers should first check the availability of delivery in their region. As per the website, a Dogepper costs

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General Electric Stock (GE) on Upward Trajectory after Q2 2021 Earnings Report

5 days ago

GE is expanding its wind power production into Quebec as part of its North American growth, and it is poised to do big things there too.General Electric (NYSE: GE) has reported its second-quarter (Q2 2021) earnings result, which performed better than most estimates. The American multinational conglomerate reported total revenue of $18.28 billion, representing an annual increase of 9%. The result has pushed positive sentiments into General Electric (GE) stock which has climbed over 3% in premarket figures.Although GE has lost 1.3% over the last month and 4% in the last 3 months, other averages are green. For instance, the company has brought investors a year-to-date gain of nearly 20%. In addition, General Electric (GE) stock rose by 88% over the past year. Other figures shown by the

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Justin Sun Takes Up Appointment to Co-Coordinate CCP Backed Research Project

5 days ago

Justin Sun confirmed the appointment on his WeChat and Weibo accounts stating he is looking at trailing the path of Liang Jianzhang, the tech entrepreneur who founded the travel platform Trip.com.Justin Sun, the founder of the Tron Foundation, and the $SUN token has taken up an appointment to serve as the Deputy Leader in a Research Project backed by the Chinese Communist Party (CCP). Per a statement issued to confirm the engagement by the China Academy of Information and Communications Technology., Justin Sun will be participating in the research project with the topic of “Research on Innovation of Social Governance Mechanism Based on Blockchain Technology.”While China is largely unreceptive to Bitcoin and cryptocurrencies, the country has a strong affinity for championing blockchain

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Apple (AAPL) Stock Aims at New ATH Ahead of Quarterly Earnings Report

5 days ago

Ahead of the June earnings report by Apple, Wall Street analysts have deconstructed the market and provided their sentiments. Apple Inc (NASDAQ: AAPL) stock has edged closer to a new all-time high after retesting its previous ATH of around $150. The upward momentum has been driven by strong previous quarterly growth, despite the coronavirus supply chain disruptions. Apple is said to report its quarterly earnings results on Tuesday, where Wall Street analysts expect the shares to do better in the foreseeable future.Notably, Apple stock traded around $148.80 during today’s premarket, down 0.13%. On a long-term basis, Apple stock has gained significantly during the pandemic to a comfortable $2+ trillion valuation. According to market analytics provided by MarketWatch, Apple stock has added

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TitanSwap Successfully Achieves Cross-chain with BSC

5 days ago

Thanks to TitanSwap’s cross-chain function, the user’s operating costs and intermediate transaction costs are greatly reduced.TitanSwap has always been innovating to come up with new functions. Recently, TitanSwap successfully achieved cross-chain with BSC, marking a new stage of TitanSwap’s overall development in the blockchain market and a new era of user-friendly experience for users. As cross-chain is one of the rigid needs of users in transactions, TitanSwap has been attaching great attention to its cross-chain function. Soon after realizing the automatic routing of different liquidity pools on Ethereum, TitanSwap has completed its ambition of constructing a cross-chain Smart Route, that is, to automatically select multiple liquidity pools on multiple main chains.Thanks to TitanSwap’s

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Trading Platform Huobi to Dismantle Entity in China

5 days ago

The move is less likely to affect the company’s business since it had shifted the exchange overseas a long while ago. A month ago, OKCoin had announced a shutdown of its entity in the country as well.Huobi, the Seychelles-based cryptocurrency exchange is disbanding its entity called Beijing Huobi Tianxia Network Technology Co., Ltd. The notice that went up on July 22 said that the deregistration process will be completed in 45 days. According to the company’s spokesperson, the dismantled entity was established in the “nascent stages of development” and “has not had business operations”. Li Lin, the founder and Chief Executive Officer of Huobi Group has been named as the person in charge of the liquidation process of the entity in China.Established in 2013, the company’s cryptocurrency

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