Bitcoin tumbled more than 4% on Friday after Turkey’s central bank banned the use of cryptocurrencies and crypto assets for purchases citing possible “irreparable” damage and transaction risks. The decision could stall Turkey’s crypto market, which has gained momentum in recent months as investors joined the global rally in bitcoin, seeking to hedge against lira depreciation and inflation that topped 16% last month.
Despite a challenging year in the cannabis industry, venture investors poured over $2.3 billion into cannabis startup in 2019, up from $1.5 billion in 2018.
Global funding last quarter hit an all-time high, marking the first single quarter to reach above $100 billion, according to Crunchbase data. In the first quarter of 2021, global venture investments reached $125 billion, a 50 percent increase quarter over quarter and a whopping 94 percent increase year over year, Crunchbase data shows.
Some of Europe’s biggest tech companies are calling for a 100 billion-euro ($118 billion) fund to kick-start the creation of regional champions in green technology, science-driven startups and other new industries. The leaders of around 35 unicorns and startups including Blablacar, FacilityLive and Cabify.
ServiceTitan, the world’s leading provider of software for the trades, today announced a $500 million round at an $8.3 billion valuation. The round was led by Tiger Global Management and Sequoia Capital Global Equities with participation from H.I.G. Growth Partners.
ResearchAndMarkets.com report projects that the global blockchain IoT market size will grow from USD 258 million in 2020 to USD 2,409 million by 2026, at a Compound Annual Growth Rate (CAGR) of 45.1% during the forecast period.
Blockchain technology was mentioned for the first time ever in a draft of China’s national five-year policy plan, the final version of which was approved by lawmakers and advisers at the end of an annual political meeting on Thursday in Beijing. China’s 14th five-year plan outlines the country’s economic priorities and stressed that technology will play an increasingly important large role in the country’s top-down planning. Although China has banned the trading of cryptocurrencies, blockchain will play a key role in the country’s digital economy under President Xi Jinping.