Avail Secures $43M Funding Round as Token Launch Nears

Avail Secures $43M Funding Round as Token Launch Nears

Avail closed a $43 million Series A funding round, adding to a total of $75 million. Co-founded by Anurag Arjun, who also co-founded Polygon, Avail aims to build a permissionless unification layer for Web3 to address blockchain fragmentation, data availability (DA) issues, and scalability challenges. The funding round attracted major VC firms and angel investors, Altos Ventures and Alliance DAO.

The funds will accelerate development, expand global presence, and address key Web3 challenges. Avail is developing three products: Avail DA for scaling block space with demand, Avail Nexus for interoperability, and Avail Fusion Security for restaking assets like Bitcoin and Ether. The mainnet and AVAIL token launch are expected soon, following a successful incentivized testnet phase.

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Bitpanda and Deutsche Bank Partner for Real-Time Payments

Bitpanda, a fintech unicorn and cryptocurrency exchange, is expanding its partnership with Deutsche Bank to offer real-time payment solutions for users in Germany. This collaboration will provide Bitpanda with access to German IBANs, enhancing user experience through streamlined, efficient transactions. As part of its strategic growth, Bitpanda aims to strengthen its position as a European leader.

Deutsche Bank supports Bitpanda's operational needs in Austria and Spain and values the partnership for its commitment to user safety and innovation in virtual asset investing. Both companies emphasize the importance of combining strengths to create real value and secure, trusted environments for users. Bitpanda is available in 80 countries with a primary focus on the European Economic Area (EEA).

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Tether Concerned by EU's MiCA Stablecoin Requirements

Tether CEO Paolo Ardoino expressed concerns about the European Union's Markets in Crypto-Assets Regulation (MiCA) and its impact on stablecoins, following Binance's announcement to restrict access to "unauthorized" stablecoins in Europe by the end of June. Ardoino highlighted that MiCA's requirements could complicate the operations of stablecoin issuers and make EU-licensed stablecoins riskier.

Binance clarified that while they won't delist unauthorized stablecoins on spot markets, access for EU users will be limited on certain products, with updates on regulated stablecoins forthcoming. This regulatory environment has prompted other exchanges like OKX and Kraken to reconsider their support for stablecoins like USDT in Europe, with OKX already ceasing support for USDT trading pairs.

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US Bitcoin ETFs Extend 15 Days Streak With $105M Inflows

US spot bitcoin exchange-traded funds (ETFs) saw their 15th consecutive day of net inflows on Monday, totaling $105.12 million. Over this period, the 11 ETFs have accumulated more than $2.28 billion in inflows, with a cumulative total net inflow of $13.96 billion to date. Fidelity's FBTC led the inflows with $77 million, followed by Bitwise's BITB with $14 million, and Ark Invest and 21Shares' ARKB with $11 million.

BlackRock and Grayscale's largest spot bitcoin ETFs recorded no flows on Monday, while VanEck and WisdomTree's ETFs had minimal inflows under $2 million. This streak is the second-longest since their debut, only behind a 17-day streak in January. The total volume of flows remains much lower than their peak in March, yet year-to-date net inflows are over $15 billion.

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Data of the day

Recent data on social crypto stats is showing mixed sentiment. On one hand, YouTube views for crypto-related channels are averaging 800,000 a day, or 20% of the 4 million peak from 2021. On the other hand, Google searches for the term "onchain" just reached an all-time high.

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More breaking news

• Thailand approved its first spot in Bitcoin ETF, with One Asset Management joining the growing list of jurisdictions approving regulated Bitcoin funds.
• FTX aims to pay the IRS a $200 million priority tax claim and a $685 million subordinated claim, instead of $24 billion in tax liabilities.
• Polygon Labs, the development firm behind the Polygon, has acquired Toposware, a blockchain research firm specializing in zero-knowledge technology.
• Watford, an English football team, aims to sell 10% of the club as digital equity, including tokens, to investors and fans, at a price per share of 12 pounds.
• Worldcoin halts operations in Spain through the end of the year or until the German data authority's ongoing data protection investigations are resolved.
• Sahil Arora, the celebrity memecoins promoter behind JENNER was banned by X, with the account being linked in the use of manipulated screenshots.

For the latest updates on digital asset markets, follow us on X @Datawalletcom.