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The Funding: Why 'VC coins' like BERA are facing backlash
The Funding: Why 'VC coins' like BERA are facing backlash

This is an excerpt from the 21st edition of The Funding sent to our subscribers on Feb. 9.The Funding is a fortnightly newsletter written by Yogita Khatri, The Block’s longest-serving editorial member.To subscribe to the free newsletter, click here.

The Block·2025/02/09 23:12
Crypto VC Suggests Market Nearing Local Bottom as Bearish Sentiment Peaks
Crypto VC Suggests Market Nearing Local Bottom as Bearish Sentiment Peaks

Hartmann pointed to extended negative funding rates and widespread bearish sentiment as signs that the market could soon rebound.

CryptoNews·2025/02/09 16:00
Flash
  • 02:40
    FIFA to launch cryptocurrency
    PANews reported on March 9 that according to Crypto.news, Gianni Infantino, president of the International Football Federation (FIFA), said that the organization may develop its own cryptocurrency token. Infantino expressed FIFA's interest in creating digital tokens to interact with global fans when he attended President Trump's White House Cryptocurrency Summit on March 7. "FIFA is very interested in developing FIFA tokens, starting here, starting in the United States, to conquer 5 billion football fans around the world." "If anyone here is interested in working with FIFA, we are here, together with the United States of America, we will conquer the football world with FIFA tokens." Despite the lack of specific details or timelines, the statement hinted that FIFA is exploring blockchain technology as a potential way to attract fans and generate revenue. Trump responded: "The value of this coin may eventually exceed FIFA. In fact, it may be a very valuable token." The statement came as FIFA was preparing for the 2026 World Cup, when the United States, Canada and Mexico will co-host the World Cup. After the summit, a cryptocurrency called "FIFA" surged. The price of the token increased by 357,000% in a single day, reaching a market value of about $8.2 million. However, the token has no connection with FIFA.
  • 02:38
    Derivatives trading protocol MYX Finance completes $5 million strategic round of financing, with participation from FL Foundation and others
    According to ChainCatcher, the derivatives trading protocol MYX Finance announced today that it has completed a strategic round of financing. This round of financing was participated in by leading institutions such as FL Foudation, Woyong, D11-Labs, HashKey Capital, and Metalpha. Among them, D11-Labs, HashKey Capital and other institutions have previously participated in the seed round of financing of MYX Finance. This round of financing will accelerate MYX Finance's vision of creating a "chain abstraction liquidity layer", thereby solving the two major problems of DEX "liquidity" and "ease of use", while providing users with CEX-level trading experience, retaining the composability and scenario innovation potential of DEX. In November 2023, MYX Finance has completed a seed round of financing with a valuation of US$50 million led by HongShan (Sequoia China). It is reported that MYX Finance will conduct TGE in the first quarter of this year. At present, the project has launched the Pre-TGE Pioneer Reward multiple tasks on Galxe. Community users can share 200,000 MYX tokens by completing social media group tasks, trading tasks, MLP purchase tasks, etc.
  • 02:23
    Mark Cuban: Federal spending cuts could trigger an economic downturn
    Mark Cuban recently expressed concerns about the U.S. economic outlook, warning that significant cuts in federal government spending could trigger a chain reaction that may ultimately lead to an economic recession.
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