"CF Private Equity enters blockchain, Singapore licenses crypto giants, Reddit tokens soar on Kraken, and Cypher loses $1 million in crypto exploit.
CF Private Equity Raising $100 Million Crypto Fund

CF Private Equity Raising $100 Million Crypto Fund

Aug 9, 2023
| Issue

Welcome once again to the latest edition of the Datawallet Daily newsletter, where we will cover the latest topics from the crypto world. Today’s drop will cover the following topics:

CF Private Equity dives into crypto with new fund

CF Private Equity, previously Commonfund Capital, is introducing a blockchain-specific fund, CF Blockchain Ventures LP. An early August SEC filing reveals plans to raise an expected $100 million, marking the firm's most significant venture into the crypto realm.

Having hinted at crypto interests since 2018, the Connecticut-based firm, which blends venture capital and private equity investments, has long been engaged with traditional assets and equities.

The launch of CF Blockchain Ventures LP represents a potential shift in institutional crypto-related fundraising, coinciding with a rebound in digital asset markets. This new venture includes collaboration with Commonfund Securities, a broker-dealer under its parent company, and banks in Japan and Chile.

With $22 billion of committed capital and over 10 blockchain investments since 2018, CF Private Equity's move emphasizes its targeted approach toward the potential of blockchain.

Blockchain.com and Crypto.com get operating licenses in Singapore

On August 1st, the Monetary Authority of Singapore granted a significant payment institution license to Blockchain.com, a cryptocurrency exchange. This license allows Blockchain.com to offer unrestricted payment services, including digital payment token services and cross-border transfers, without any limitations on transaction volumes. This positive development comes after the in-principle approval that was given to Blockchain.com by the Monetary Authority of Singapore in September 2022.

Fake PayPal USD tokens pop up

Fraudsters are attempting to deceive unaware individuals by taking advantage of PayPal's recently introduced stablecoin, known as PayPal USD (PYUSD), which is pegged to the US dollar. According to data from DEXTools, more than 66 counterfeit tokens have emerged on networks like Ethereum, BNB Chain, Base, and others as of Tuesday noon in Asia. The majority of these deceptive tokens have been circulated on Ethereum where the authentic PYUSD token exists.

Reddit tokens soar 50% on Kraken listing

Following the inclusion of Moons (MOON) and Bricks (BRICK) on Kraken, one of the major centralized cryptocurrency exchanges in terms of trading volume, the community tokens on Reddit experienced a significant surge. In the past 24 hours, MOON, which serves as Reddit's r/CryptoCurrency community token with a user base exceeding 6.5 million individuals, skyrocketed by over 47% to reach a value of 42 cents. 

Meanwhile, BRICK, representing the native cryptocurrency for the r/Fortnite subreddit community, witnessed an increase of almost 50%, reaching a value of 4 cents within the same time frame according to Coingecko data source.

Cypher loses $1 million in crypto in an exploit

Cypher, a decentralized exchange operating on the Solana blockchain, experienced a significant loss of approximately $1 million in cryptocurrency as a result of an exploit or security breach that occurred on Monday. 

As contributors strive to establish communication with the hackers and negotiate the return of funds, the protocol's contracts have been temporarily suspended. Cypher has gained rapid popularity within the Solana community primarily due to its loyalty program, which offers rewards in the form of points to depositors and traders, leading many users to anticipate an upcoming airdrop event.

Other breaking news

Wrapping up

That’s all for today’s edition, folks. Today’s drop covered Cypher, another DeFi protocol, suffering a staggering loss due to a hack. Meanwhile, Reddit tokens are soaring on Kraken listing, and PayPal stablecoin copycats pop up across the blockchain. CF Private Equity is getting into blockchain by setting up a dedicated fund, and Crypto.com and Blockchain.com expand their businesses in Asia by nabbing Singapore operating licenses. Stay tuned for more updates in our rapidly evolving space.