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Extra Crunch expands into Romania

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Extra Crunch is now live in Romania. That adds to our existing support in Europe in Austria, Belgium, France, Germany, Italy, the Netherlands, Poland, Spain, and U.K..

There’s been reason to be bullish on Romania’s technology sector for some time. A TechCrunch op-ed called the country the “Silicon Valley of Transylvania” in 2016, noting that the number of startups in the country had grown by 20% from 250 to 300 in a year. 

The country’s rich pool of developer talent (bullish notes on that matter here) has also led to rising investor interest. Crunchbase data, for example, said that known venture round counts rose by 26% in the country in 2019, compared to 2018. And from a 2015-era trough, the country’s GDP has risen sharply, along with its GDP per-capita

It’s no surprise, then, that Romania has been one of the most requested countries for Extra Crunch support in recent months. We’re happy to add the country to the list.

You can sign up here.

Extra Crunch is a membership program from TechCrunch that features market analysis, weekly investor surveys and how-tos and interviews on growth, fundraising, monetization and other work topics. Members can save time with access to an exclusive newsletter, no banner ads or video pre-rolls on TechCrunch.com, Rapid Read mode and our List Builder tool.

Committing to an annual and two-year plan will save you a few bucks on the membership price and unlock access to TechCrunch event discounts and Partner Perks. The Partner Perks program features discounts and savings on services from AWS, DocSend, Typeform, Zoom and more.

Thanks to everyone that voted on where to expand next. If you haven’t voted and you want to see Extra Crunch in your local country, let us know here.

You can sign up or learn more about Extra Crunch here.

Source: https://techcrunch.com/2020/06/29/extra-crunch-expands-into-romania/

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Trailing 4chan, an “elite” investor group is keen on Ethereum yield farming

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There’s been a lot of money made in Ethereum’s decentralized finance (DeFi) sector over recent weeks.

Tokens related to DeFi have literally surged hundreds of percent. Also, users have found ways to leverage protocols such as Compound and MakerDAO to make an annualized return above 100 percent. 

Thus far, the growth in DeFi has largely been driven by two groups:

Yet it seems that word has spread so far about Ethereum and what is known as
“yield farming” that a prominent online investment club has begun to discuss the subject.

The Value Investors Club is talking about Ethereum and yield farming

When talking about cryptocurrency, the knowledge of most traditional investors ends at Bitcoin. After all, BTC is the only digital asset that receives regular mainstream media coverage and has become an entrenched part of pop culture.

But it seems that the high yields offered in Ethereum’s DeFi sector are catching the eyes of traditional investors.

On Jul. 1, an anonymous user of the Value Investors Club, one “Light62,” made a post titled “Cryptocurrency Yield Farming.”

The post is not public as the Value Investors Club makes many of its threads private. Though a screenshot shared by a cryptocurrency investor that is a member of VIC revealed what was said.

The screenshot shared indicates that Light62, who has been tracking “the plethora of Twitter threads and blogs devoted to cryptocurrency,” is confused about “what is actually going on” in DeFi.

It was then speculated that “the situation is probably unsustainable” due to the high amounts of leverage, meaning there could be a “breakdown in orderly market-making in USD-backed coins or other highly popular cryptocurrencies.”

Value Investors Club Ethereum, Yield farming
Value Investors Club screenshot from Maple Leaf Capital (@MapleLeafCap on Twitter)

The Value Investors Club is a self-proclaimed “elite” group of anonymous investors literally made up of “partners at hedge funds,” according to Barron’s. The only way you can get in is to impress the admins of the site with a really, really good stock pick.

It’s funny, then, that users of the site — who are literally the crème de la crème of Wall Street — are now talking about yield farming and other intricacies of crypto.

Ethereum’s trend of growth

Even though we don’t know how the user’s post was received, users of the Value Investors Club taking interest in Ethereum is a trend representative of a broader theme of growth for the blockchain.

Blockchain analytics firm Santiment reported last week that the number of new ETH addresses created each day  “just crossed above 100,000 again.”

Santiment further explained the significance of the growth with the following comment:

“Ethereum’s network growth metric has rapidly been on the rise since the beginning of 2020, creating 237% more addresses yesterday than it did on Jan 1, 2020 (and ~+200% accounting for rolling averages now vs. then).”

Similarly, Etherscan has reported that over recent days, there have been in excess of over 1,000,000 confirmed Ethereum transactions.

Posted In: Ethereum, DeFi

Like what you see? Subscribe for daily updates.

Source: https://cryptoslate.com/trailing-4chan-an-elite-investor-group-is-keen-on-ethereum-yield-farming/

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Cardano parent signs a custody agreement with Coinbase to allow ADA staking

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Cardano starts off first day of Shelley Virtual Summit with 5 new announcements

Cardano’a parent company IOHK started off the Shelley Virtual Summit with 5 major announcements, unveiling some of the innovations that were made possible by the public mainnet launch of Shelley, including its identity solution PRISM, a new model for governance on Voltaire, as well as a $20 million fund aimed at dApp development on Cardano.

3 min read → Source: https://cryptoslate.com/cardano-parent-signs-a-custody-agreement-with-coinbase-to-allow-ada-staking/

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Singapore Investigates Two Firms for Falsification of Accounts in Regards to Wirecard Fraud

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Wirecard AG (WDI:DE), once a prominent payments Fintech and now a financial debacle due to allegations of massive fraud, continues to try and find a way to survive. Meanwhile, shares in the firm have tanked dropping from over €100/share to now around €3/share as the firm has lost about 97% of its value while filing for insolvency.

Today, we a bit more news as authorities in Singapore have initiated an investigation into two firms that may have been involved in the Wirecard fraud.

According to the Monetary Authority of Singapore (MAS) and the Singapore Police Force, a joint investigation has been launched into Citadelle Corporate Services Pte Ltd and Senjo Group Pte Ltd and its subsidiaries for “suspected falsification of accounts under the Penal Code (Cap 224), as well as carrying on a trust business without a license under the Trust Companies Act (Cap 336).”

The Singapore government states that the investigation follows the announcement on 29 June 2020 that MAS and the Accounting and Corporate Regulatory Authority are collaborating with the Commercial Affairs Department (CAD) of the Singapore Police Force to investigate recent developments relating to Wirecard AG.

Reportedly, the government review has surfaced reasons to suspect that offenses may have been committed in regard to the Wirecard scandal. As part of the investigation, CAD and MAS state they have obtained documents and records from Citadelle and Senjo, and have interviewed persons involved in the companies.

MAS said it is aware of media reports alleging that Citadelle has handled monies for Wirecard in a trustee capacity. The provision of trust services as a business in Singapore is an activity regulated by MAS under the Trust Companies Act. Citadelle is not licensed to provide trust business services in Singapore and is not supervised by MAS. MAS has listed Citadelle on the Investor Alert List on its website.

Source: https://www.crowdfundinsider.com/2020/07/163603-singapore-investigates-two-firms-for-falsification-of-accounts-in-regards-to-wirecard-fraud/

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