Hub Global Blockchain Fund

25/08/2023

𝐁𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧 𝐂𝐚𝐩𝐢𝐭𝐚𝐥 𝐂𝐨-𝐅𝐨𝐮𝐧𝐝𝐞𝐫 𝐁𝐚𝐫𝐭 𝐒𝐭𝐞𝐩𝐡𝐞𝐧𝐬 𝐅𝐢𝐥𝐞𝐬 𝐋𝐚𝐰𝐬𝐮𝐢𝐭 𝐎𝐯𝐞𝐫 $𝟔.𝟑 𝐌𝐢𝐥𝐥𝐢𝐨𝐧 𝐂𝐫𝐲𝐩𝐭𝐨𝐜𝐮𝐫𝐫𝐞𝐧𝐜𝐲 𝐇𝐚𝐜𝐤

Bart Stephens, a co-founder and managing partner of Blockchain Capital, a well-known cryptocurrency fund, has taken legal action against an unidentified hacker, Jane Doe, who allegedly orchestrated the theft of $6.3 million in bitcoin, ether, and other cryptocurrencies from his digital wallets. The incident is said to have occurred via a SIM-swap attack, wherein Stephens claims the hacker exploited personal information obtained from both online sources and the dark web to bypass security protocols with his cellular network provider. By gaining control of his cellular network account, the hacker reportedly succeeded in changing account passwords and associating Stephen's private cell number with a new device. The lawsuit, lodged on August 16 at the United States District Court for the Northern District of California, sheds light on this growing cyber threat. The Federal Bureau of Investigations had previously warned about the rise of SIM-swap attacks, with a total of $72 million stolen through such methods in the previous year.

03/07/2023

29/05/2023

Tools for Humanity, the innovative technology company behind Worldcoin, has secured $115 million in a Series C funding round led by Blockchain Capital. This substantial investment will drive crucial research, development, and ecosystem expansion initiatives. One critical project on the horizon is creating a groundbreaking alternative to the outdated CAPTCHA test, which is no longer effective against advanced AI-powered bots. By combating the persistent problem of bots in the blockchain and cryptocurrency realm, Worldcoin aims to revolutionize the industry and pave the way for a more secure and inclusive future. Joining Blockchain Capital in this round were esteemed investors a16z Crypto, Bain Capital Crypto, and Distributed Global, among others. With nearly two million users already onboarded across five continents, Worldcoin continues to make impressive strides towards its vision of a global identity and financial network, fueled by the Worldcoin token and World App.

12/05/2023

Digital Asset and leading market participants are launching the Canton Network, the first privacy-enabled interoperable blockchain network for institutional assets. The platform is designed to unlock the potential of synchronized financial markets, creating a secure and efficient ecosystem for transactions. This industry-first development is set to revolutionize financial markets and has significant potential for the future. This innovative platform has already gained significant partnerships and users, including leading global financial institutions and technology companies such as Goldman Sachs, Cumberland, S&P Global, SBI Digital Asset Holdings, Umbrage, Microsoft, Paxos, Deloitte, CBOE, and others. The new network would be launched in July when the network participants would test its interoperability capabilities across a range of applications and use cases.

25/04/2023

The European Union has passed its first-ever cryptocurrency regulation, aimed at combating money laundering and terrorist financing through digital currencies. The regulation will require cryptocurrency exchanges and custodian wallet providers to conduct due diligence on their customers, report suspicious transactions to authorities, and register with relevant regulatory bodies. The move is expected to bring greater legitimacy to the cryptocurrency industry in the EU and could serve as a model for other jurisdictions considering crypto regulation. However, some critics have raised concerns about the potential impact on innovation and the ability of smaller firms to comply with the new rules.

01/04/2023

Sky Mavis, the creator of the blockchain-powered video game Axie Infinity, is overhauling the core systems of the Ronin network in an effort to make it more decentralised and secure, and to expand Ronin to new blockchain-based video games. The changes follow a $625m hack of the network in March 2022 that U.S. authorities traced to North Korea’s Lazarus hacker group. The upgrade will change the consensus mechanism used to operate the network, transition the chain from “proof-of-authority” to “delegated proof-of-stake” and enable users to “stake” RON tokens to earn interest and help curate the set of validators that operate the network. Sky Mavis has also partnered with other game development studios to expand the Axie universe, allowing selected partner studios to access Axie IP for their titles or build entirely new games with distinct IP on top of Ronin.

25/03/2023

Do Kwon, the disgraced founder of collapsed crypto company Terraform Labs, has been arrested in Montenegro (a country in Europe) on charges of fraud. Kwon, also known as Do Hyeong, is wanted by authorities in South Korea and the United States for his involvement in the $40 billion cryptocurrency implosion last year. The arrest comes as a significant milestone in the ongoing investigation of the cryptocurrency fraud case.

08/03/2023

Happy International Women's Day to all the incredible women in the blockchain industry! HUB Global recognizes and celebrates the vital contributions that women make to the world of technology and entrepreneurship. Today, we honor the appreciate women who have paved the way for us and continue to inspire us every day. We're committed to creating a diverse and inclusive blockchain ecosystem, and we know that our community is stronger when everyone has a seat at the table. Thank you to all the brilliant women in blockchain who are driving innovation and making a difference. You are an inspiration to us all!

03/03/2023

Goldman Sachs is continuing to expand its digital asset division, despite laying off 3,200 people in January. The bank's head of digital assets, Mathew McDermott, is optimistic about the future of blockchain applications and plans to increase staff numbers "as appropriate" this year. McDermott believes that tokenization is the future of finance and is excited about the potential of the bank's platform, GS DAP. In addition to its current use for trading tokenized green bonds, McDermott sees GS DAP being used for a variety of other assets including alternatives, fund units, derivatives, and private equity. This expansion of the platform could revolutionize the way these assets are traded and settled, reducing settlement times and increasing efficiency.

Furthermore, as the digital asset division grows, it is likely that new and innovative blockchain applications will be explored. This could lead to the development of new financial products that are more secure, transparent, and efficient than traditional financial products. The potential benefits of these products are vast, and could include increased access to capital for small businesses and individuals, reduced transaction costs, and improved financial inclusion.

In conclusion, while some may see the layoff of 3,200 people in January as a sign of trouble for Goldman Sachs, the bank's expansion into digital assets is a clear indication of its commitment to innovation and growth. With the team in its digital asset division growing from just four members in 2020 to about 70 today, and plans to hire more staff this year, it is clear that Goldman Sachs sees the potential of blockchain technology and is ready to explore it further.