- European DeFi start-ups see a 120% increase in VC funding, despite the cryptocurrency market’s turbulence.
- Jim Cramer refuses to do business with Binance, calling it “way too sketchy” amid a CFTC investigation.
- Bitcoin, XRP, Kaspa, and Conflux perform well in March despite regulatory challenges.
European DeFi start-ups saw a massive 120% increase in venture capital funding in 2022, with investments totaling $1.2 billion, up from $534 million in the previous year.
This surge in funding comes despite the cryptocurrency market’s turbulent year, marked by a persistent bear market and high-profile failures of some of the sector’s biggest companies.
Meanwhile, famous television personality and host of CNBC’s “Mad Money,” Jim Cramer, has publicly stated that he would not do business with Binance.
This comes as Binance and its founder, CEO Changpeng Zhao, face allegations of offering unregistered derivatives products and helping US-based customers avoid compliance controls through VPN. However, Binance has disputed these claims, with Zhao stating that the complaint features an “incomplete recitation of facts.”
Regarding the ongoing investigation, former Commodity Futures Trading Commission chairman Tim Massad believes that it is unlikely to prompt congressional lawmakers to regulate the US crypto industry. He anticipates that it will take some time before the agency’s lawsuit against Binance is litigated.
In other news, bitcoin emerged as one of the big winners in the cryptocurrency market in March 2023, along with XRP, Kaspa, and Conflux. Despite regulatory challenges, the prices of these cryptocurrencies rose significantly, showcasing their resilience amidst the uncertainty surrounding the crypto market.