Binance and FTX Announce Aptos Listings, Shardeum Raises $18.2M – Top 5 Crypto Stories for October 18
Here is a quick breakdown of the biggest news and developments in the cryptocurrency industry for October 18, 2022.
1. Binance and FTX announce they will reference Aptos
Major cryptocurrency exchanges Binance and FTX have both announced they will be listing Aptos, a highly anticipated blockchain project that received $350 million in venture capital this year alone.
Both exchanges will start offering APT trading at 01:00 UTC on October 19. On Binance, APT will be available in trading pairs against USDT, BUSD, and BTC, while FTX will offer APT trading against USD and USDT.
Binance intends to launch perpetuals for APTs soon after spot trading goes live, while FTX has yet to announce plans for perpetuals APTs.
The Aptos project has caused some controversy due to its relatively late release of APT tokenomics, and some users have also expressed concerns about the distribution of the APT offering.
2. Shardeum raises $18.2 million
Shardeum, a layer-1 blockchain project co-founded by WazirX CEO Nischal Shetty, has raised $18.2 million in a seed funding round. The round was backed by a host of investors including Jane Street, Spartan Group, CoinGecko, Struck Crypto and others.
The Shardeum platform is compatible with the Ethereum Virtual Machine (EVM) and uses a technique called sharding to improve its scalability. According to the project, Shardeum’s design also allows for low hardware requirements for operating validator nodes.
The Shardeum team says the new capital will be used to expand marketing efforts and expand the size of their development team.
3. The crypto-friendly German neobank Nuri closes its doors
Nuri, a Germany-based neobank that provided services to cryptocurrency investors, announced that it would cease operations after failing to secure the investments needed to continue the business. In a statementNuri CEO Kristina Walcker Mayer cited the “difficult economic and political environment” as one of the main reasons Nuri was unable to raise capital or find a buyer for the company .
Nuri is another victim of the cryptocurrency market crash of 2022, which led to multiple bankruptcies and widespread layoffs in the cryptocurrency and blockchain industry. Notably, Nuri has partnered with now-bankrupt crypto lender Celsius to allow clients to earn yield on their Bitcoin. After Celsius froze withdrawals from its platform in June, Nuri customers who used the Bitcoin savings account product also saw their coins frozen.
Nuri, which was founded in 2015, was previously known as Bitwala. The company had received backing from venture capitalists such as Sony Financial Ventures, Coparian and Earlybird Venture Capital.
4. FTX exchange and its billionaire CEO are under investigation by the Texas regulator
The Texas State Securities Board is investigating cryptocurrency exchange FTX and its CEO Sam Bankman-Fried to determine whether the exchange sold an investment product that violates state laws. The Washington Post writes that the investigation is focused on whether FTX was offering interest-bearing crypto deposit accounts, which the regulator says qualify as securities, to Texas residents without the necessary registration.
Joe Rotunda, the Texas regulator’s chief enforcement officer, also called for FTX to be barred from acquiring the assets of bankrupt crypto lender Voyager until the matter is resolved.
5. Ripple announces second wave of beneficiaries for its $250 million creator fund
Blockchain-powered fintech company Ripple has unveiled the second wave of recipients for its $250 million Creators Fund. The fund was established in September last year and aims to support NFT projects that build on the XRP Ledger platform.
Projects selected for the second wave include 9LEVEL9, Anifie, Capital Block, Cross-Metaverse Avatars, NFT Master, SYFR Projects, and Thinking Crypto. The second wave of funding targets a diverse set of NFT use cases, spanning the gaming, music, media, and metaverse sectors.