Sequoia Capital To Allocate Up To $600M To New Crypto Fund – February 17

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $42,113

Bitcoin price has fallen 3% overnight, finding itself back in the $42,000 range to begin Thursday.

Top-20 altcoins are have taken small losses across the board, as Ethereum drops 2%, BNB falls 3% and XRP takes just a 1% hit.

Top Stories for February 17, 2022 πŸ”₯

πŸ‘‰ Sequoia Capital To Allocate Up To $600M To New Crypto Fund

US-based venture capital firm Sequoia Capital has launched a new cryptocurrency-focused fund with an allocation of up to $600 million in funding.

The fund was launched alongside two other Sequoia sub-funds this week, all of which are utilizing capital that has already been committed by the company’s partners.

Sequoia has already made some significant investments within the crypto sector, leading Polygon’s recent $450 million funding round, as well as contributing to projects such as DeBank and StarkWare.

πŸ‘‰ Canadian Police Blacklist Protest-Linked Bitcoin Addresses

Canada’s federal police service, the Royal Canadian Mounted Police (RCMP), have attempted to blacklist around 30 Bitcoin addresses associated with fundraising for the trucker protestors.

The RCMP issued an order to all companies regulated by FINTRAC, demanding that they do not transact with any Bitcoin addresses on the list. It was also demanded that any information about transactions related to the addresses be disclosed immediately to the commissioner.

πŸ‘‰ Circle Valuation Doubles To $9B Under New SPAC Deal Terms

Circle, the company behind the popular stablecoin USD Coin (USDC), has announced that it will replace its original special purpose acquisition company (SPAC) deal with Concord Acquisition Corp for a new deal.

The new terms will value Circle at $9 billion – double the $4.5 billion valuation it would have achieved via the original deal’s terms. The deal is expected to close by the end of this year.