BRIEFINGS

Paxos has raised $300M in a Series D round led by Oak HC/FT. The round, which values Paxos at $2.4B, also included participation from Declaration Partners, PayPal Ventures, and Mithril Capital. Paxos plans to onboard more institutional clients following the announcement its partnership with PayPal last year.

Ethereum 2.0 staking project Lido has raised $73M in a funding round led by PAradigm Capital. The round was a private token sale in which Paradigm purchased LDO tokens from LidoDAO’s treasury using ETH. Other participants in the round include Coinbase Ventures, Three Arrows Capital, and Alameda Research.

The third version of decentralized exchange protocol Uniswap went live on Ethereum today. Among other upgrades, Uniswap v3 will allow liquidity providers to create liquidity pools with customized price ranges. Developers plan to launch a version of Uniswap v2 on Layer 2 solution Optimistic Rollup in the near future.

According to quarterly filings with the SEC, Tesla has sold $272M worth of its BTC holdings over the past quarter. Earlier this year, Tesla announced that it had purchased $1.5B worth of Bitcoin, and that it would begin accepting BTC as payment for electric vehicle purchases.

Stablecoin issuer Paxos has become the third digital asset service provider to gain a federal trust charter from the United States Office of the Comptroller of the Currency. Paxos National Trust will now operate as a federally-regulated custodian and stablecoin manager, among other roles.

Total supply of Tether (USDT) circulating on all platforms has reach $50M. Of this, $26M is hosted on Tron, while another $24.4 is hosted on Ethereum.

Payments app Vemno, a subsidiary of PayPal, has announced it will begin offering cryptoasset buying and selling services to users. Initially, users will be able to trade Bitcoin (BTC), Ether (ETH), Bitcoin (LTC), and Bitcoin Cash (BCH). Last year, PayPal began offering similar services to its users.

Cryptoasset custody provider BitGo announced this week that is has secured $700M in insurance coverage for the assets it holds in cold storage. The program is a partnership with London-based insurance provider Lloyd’s. BitGo has also obtained a New York Trust Charter and a South Dakota Trust Charter.

Cryptoasset exchange Binance announced this week that it has burned $595M worth of its native BNB token. The move, part of a quarterly buyback-and-burn program, mark’s the largest BNB burning to date. Binance has now burned roughly 15% of the initial 200M token supply.

Non-fungible token investment group, NFT Investments, has raised €35M, worth roughly $48M at the time of writing, in its recent public listing. Shares are currently trading on Aquis Stock Exchange Growth Market.