EDUSELL
Financial Market Examiner
Midas Crypto Vault
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
Financial Market Examiner
No Result
View All Result
Home Crypto News

LayerZero Retrieves its stake from FTX Ventures and Alameda

Admin by Admin
November 11, 2022
in Crypto News
0
LayerZero Retrieves its stake from FTX Ventures and Alameda
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter
Webinar Webinar

Interoperability protocol LayerZero Labs announced on Nov.10 an agreement to buy out 100% of FTX Ventures’ and Alameda Research’s equity position, including token warrants and all agreements between the parties.

In March, the protocol raised $135 million in a funding round co-led by FTX Ventures, bringing the startup’s valuation to $1 billion.

According to LayerZero, a proposal will be submitted to transfer the tokens to the Stargate Foundation and let the community decide what to do with them.

FTX Ventures participated in the STG launch and bought all the tokens. The tokens were later released as a spot-based product.

LayerZero claimed to possess $107 million in cash, along with the equivalent of $27 million in on-chain funds, with around 90% in stablecoins, coming for a total of $134 million. In addition, the startup had $11.5 million on FTX that was being used for operational purposes but said it now considers it a balance of zero.

Sam Bankman-Fried revealed the FTX crisis on Nov. 8 by announcing Binance’s intention to acquire the crypto exchange amid a liquidity crunch. Alameda was winding down trading but assured users that the United States-based FTX US “was not financially impacted” by recent events.

Share on TwitterTweet
Share on Pinterest Share
Share on LinkedIn Share
Share on Digg Share
Tags: alamedaCryptoFTX
Institutional Trading Concept Institutional Trading Concept Institutional Trading Concept
ADVERTISEMENT
Previous Post

FTX and Alameda Contagion Fears Tank NFT Markets

Next Post

FTX Explores Avenue To Raise $ 9.4 Billion

Admin

Admin

Next Post
Sam Bankman-Fried Bail Conditions Revised, FTT Manipulation By Genesis

FTX Explores Avenue To Raise $ 9.4 Billion

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

  • 99 Subscribers
  • Trending
  • Comments
  • Latest
yen and dollar

FOREX-Yen Flirts With Intervention Level As Dollar See Gains

October 11, 2022
AUD USD pair

Forex: AUD/USD Point To More Downside For The Aussie

October 20, 2022
Mayowa Owolabi on battles traders need to fight

Battle Every Trader Must Fight (Part 1)- Mayowa Owolabi

August 31, 2022
Meta (Ex-Facebook) Fined €1.2 Billion In Landmark EU Ruling

Meta Verified Shows A Company Running Out of Ideas

February 22, 2023
XAGUSD pair

XAG/USD Climbs to Mid-$19.00s

4
Premier League Considering Partnership With NFT Crypto Platform

Premier League considering partnership with NFT crypto platform

2
EUR/USD pair

EUR/USD Recovers from 20-year Lows

2
Binance CEO Supports Terra Classic Raising LUNC Burn Tax To 0.5%

Binance Proof-Of-Reserve Pledge Earns Support Following FTX Crisis

2
Crypto withdrawal by Nigerians CBN

Why The CBN Will Not Allow Nigerians Withdraw Crypto From Commercial Banks

June 2, 2023
Mercedes Benz To Release NFT Collection With Fingerprints DAO

Mercedes Benz To Release NFT Collection With Fingerprints DAO

June 2, 2023
Gate.io Sees $150 Million Net Outflow Amid Police Investigation Rumors

Gate.io Sees $150 Million Net Outflow Amid Police Investigation Rumors

June 2, 2023
Hackers Steal 13 NFTs On Blur As Global Sales Rise

Hackers Steal 13 NFTs On Blur As Global Sales Rise

June 2, 2023

Recent News

Crypto withdrawal by Nigerians CBN

Why The CBN Will Not Allow Nigerians Withdraw Crypto From Commercial Banks

June 2, 2023
Mercedes Benz To Release NFT Collection With Fingerprints DAO

Mercedes Benz To Release NFT Collection With Fingerprints DAO

June 2, 2023
Gate.io Sees $150 Million Net Outflow Amid Police Investigation Rumors

Gate.io Sees $150 Million Net Outflow Amid Police Investigation Rumors

June 2, 2023
Hackers Steal 13 NFTs On Blur As Global Sales Rise

Hackers Steal 13 NFTs On Blur As Global Sales Rise

June 2, 2023
Financial Market Examiner

Get all the latest Financial Market (Crypto & Forex) news, updates and other relevant resources here.

Follow Us

Browse by Category

  • Crypto News
  • Education
  • Entertainment
  • Forex News
  • Gaming
  • Review
  • Reviews
  • Stocks
  • Uncategorized

Recent News

Crypto withdrawal by Nigerians CBN

Why The CBN Will Not Allow Nigerians Withdraw Crypto From Commercial Banks

June 2, 2023
Mercedes Benz To Release NFT Collection With Fingerprints DAO

Mercedes Benz To Release NFT Collection With Fingerprints DAO

June 2, 2023

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

?>