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Get your daily digest of crypto-asset and blockchain-related news – by investigating stories that fly under the radar in today’s crypto news.

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Investment News

  • Binance Labsthe venture capital and incubation subsidiary of Binance, announcement the closing of a new investment fund of 500 million dollars. It will invest in projects that can expand use cases for crypto-assets and drive adoption of Web 3 and blockchain technologies, they said.
  • Digital Investment Company CoinShares announcement it recorded “an exceptional loss” of £17 million ($21.33 million) on the liquidation of its TerraUSD (UST) holdings. However, they added that this had no impact on their additional capital markets business, nor on the company’s exchange-traded product (ETP) coverage and guarantee.
  • Cross-Border Payments Company Ripple and crypto exchange FTX are both looking for acquisitions, according at CNBC. Ripple has “a very strong balance sheet” according to its CEO Brad Garlinghouse, who is more likely to see it as the buyer versus the seller, while FTX.USthe company’s US subsidiary, will seek out companies that will help them acquire more users or regulatory licenses.
  • Media Forbes will no longer pursue its previous IPO plan through a special purpose acquisition company (SPAC), The New York Times reported, citing two people familiar with the matter. The decision could be announced as early as this week, they added.
  • Decentralized finance (DeFi) platform Alloy raised $3 million in a pre-seed funding round led by Flagship companies, by Tech.eu. The startup is building a platform to allow institutional investors to interact with decentralized finance in a safe and compliant way, they said.
  • blockchain infrastructure provider InfStones announcement a new financing round of $66 million led by SoftBank Vision 2 Funds and GGV Capital. The funds will be used to grow their team and develop more robust blockchain infrastructure solutions, they added.
  • Native web 3 project management tool DeWork announcement that it raised $5 million in a seed funding round led by Paradigm and Capital of Rhythm. They plan to use the funds for growth purposes, they said.
  • Portfolio Operations Infrastructure Provider Liminal raised $4.7 million in its seed funding round led by Elevation Capital. The funds will be used to invest in hiring and product development, they said.
  • Web3 project Utopia Laboratories has raised $23 million in Series A funding round led by Paradigm. The funds will help them grow their team and work on new features, they added.

Trade news

  • finance giant Goldman Sachs is in talks with crypto exchange FTX to integrate certain aspects of their derivatives business, Barron’s reportedquoting a person familiar with the matter.
  • Crypto trading platform KuCoin spear its decentralization KuCoin Wallet, with its website going live for users to access the service from June 1 and the mobile app will follow later in the month. Open beta app testing should be available in the coming days, they said.

Mining News

  • Crypto Mining Company Mining BIT announcement that it has issued more than 16 million of its Class A common shares to selling shareholders. The company will also issue up to approximately 18 million shares to selling shareholders, and up to approximately 4.5 million of those shares to certain members of the research and development team if it reaches certain milestones, including the development of new ASIC miners for bitcoin (BTC), ether (ETH) and litecoin (LTC).

DeFi News

  • Blockchain platform Corporate Waves announcement its intention to move to a decentralized governance model and open up its entire code base. Their stack and ecosystem will be managed by an enterprise-grade Decentralized Autonomous Organization (DAO), while the codebase will continue to be developed by the core development team now based in the United Arab Emirates.
  • Texturethe team of developers behind the DeFi project Plenty, today announced the successful launch of the Plenty Bridge, a decentralized bridge between the Ethereum and Tezos (XTZ) blockchains. Users can now transfer multiple tokens between blockchains in about 5 minutes, whereas the process previously took over an hour, they said.