Series Pantera CapitalMcsweeney TheBlock is a blockchain-based company with plans to build a decentralized exchange infrastructure for concentrated trades. The company’s executive team includes CEO Will Warren, who previously worked as a salaried dealer at DRW, and CTO Amir Bandeali, who has experience as a fund manager at the University of Illinois Urbana-Champaign.
Series Pantera CapitalMcsweeney TheBlock has invested in Mcsweeney TheBlock and 0x Labs, two blockchain startups that recently completed their initial coin offerings. The funding will help them expand internationally and hire more employees. The funds will also be used to expand their platform and product, allowing them to offer a broader range of assets than their current exchanges can offer. The company has raised $24 million from VC firms so far, and this funding will help the company build a more global infrastructure for its exchange.
The 0x project was founded by Will Warren and Amir Bandeali in October 2016. Will worked as an applied physicist at the Los Alamos National Laboratory and Amir Bandeali was a fixed income trader. The team also includes other members with backgrounds in software engineering, blockchain engineering, and graphic design. They also have a group of advisors from Polychain Capital and Coinbase.
Decentralized Exchange Platform
Series Pantera CapitalMcsweeney TheBlock has raised $15 million in a Series A round led by Pantera Capital. The company plans to use the capital to develop decentralized exchange infrastructure. It has already launched a decentralized exchange platform called Matcha, which has handled over $2.7 billion worth of orders. It plans to expand the Matcha platform and launch a trading desk for its ZRX token. The new funding will allow the company to build a global platform for tokenised assets.
Pantera Capital has recently invested in two blockchain startups: McSweeney TheBlock and 0x Labs. The former raised over $11 million from an initial coin offering (ICO), and the latter will use the funding to expand internationally and hire more employees. Pantera has also invested in 0x Labs, which will use the funds to create an open source protocol and aggregation API.
Institutional Asset Manager
Pantera Capital is an institutional asset manager focused on blockchain-based investments. The firm currently runs five funds, including one that invests in early-stage tokens and other digital assets. The funds are limited to accredited investors. The firm also views the ZRX token as a comprehensive investment in the blockchain space. The fund is currently home to more than $1.3 billion in investments.
0x Labs, the startup behind the 0x exchange protocol, recently raised $15 million in a Series A equity round from Pantera Capital. The money will go toward expanding the company’s team and building out its decentralized exchange platform.
0x Labs is an open-source developer of the DEX protocol. Coinbase has selected 0x to power its social NFT marketplace. Greylock, Pantera Capital, OpenSea, and other investors participated in the round. The company has also been backed by LinkedIn co-founder Reid Hoffman and actor Jared Leto.
Pantera Capital has long been an equity investor in The Block and has previously led its Series A round. The company plans to use the funding to develop its platform and expand into new markets. The Block’s team includes founder and CEO Will Warren, as well as CTO Amir Bandeali. Bandeali has worked as a salaried dealer with DRW and was formerly a fund manager at the University of Illinois Urbana-Champaign.
Kik Interactive Inc. (KIRK) is a Canadian company that designs and develops mobile messaging applications. Its applications allow users to communicate, share moments, and participate in a digital economy that utilizes cryptocurrency. Kik provides its services in over 100 countries worldwide. To learn more about the company, read its SEC filings.
Complaint Against Kik Alleging
On June 4, 2019, the SEC filed a complaint against Kik alleging that the company had sold digital asset securities to U.S. investors without registering. On September 30, 2020, the court granted the SEC’s motion for summary judgment, finding that Kik sold “Kin” tokens without a registration statement or exemption from registration. The court also determined that Kik’s public sale of “Kin tokens” constituted a security offering, and that Kik should have filed a registration statement.
However, Kik has since decided against further VC funding and raised almost $100 million in a high-profile Initial Coin Offering (ICO) in 2017. The ICO allowed Kik to sell digital tokens called “Kin” to contributors. In June 2018, Kik released Kin Coin on its platform, albeit with trading restrictions for U.S. citizens only. The beta version of Kin offers different ways to earn and spend Kin, including natively in the app.