By Jamie G - Cryptocurrency Investor - 11/04/2021
Venture Capital funding has increased its commitment in investing in cryptocurrency and blockchain start-ups in 2021. According to data, crypto start-ups earned more grants in the first quarter of 2021 than they did in the entire year of 2020.
As per Bloomberg, 129 cryptocurrency trading companies received a total of $2.6 billion in backing in the first quarter of 2021, using statistics from business analytics company CB Insights. In comparison, crypto and blockchain companies earned $2.3 billion in 341 transactions in 2020.
Due to the remarkable figures this year, 2018 remains a record year for crypto-based start-ups in terms of funding. The sector received $3.3 billion in funding in 2018. With the latest bullish trend, the year is still young, VC funding demand for blockchain companies will likely reach new highs.
According to CB Insights, the rise in funding this year was primarily led by three companies: BlockFi, an American crypto lending start-up; dapper Labs, a Canadian blockchain game developer; and Blockchain.com, a UK-based crypto coin storage provider. This year, the three firms earned almost $1.1 billion in funding.
BlockFi accomplished its $350 million funding round in March, and Blockchain.com earned $300 million in the same month, after a $120 million funding round in February. In addition, Dapper Labs, the company behind the influential Ethereum-based game CryptoKitties and the NFT marketplace NBA Top Shot, raised $305 million from venture capitalists in the first quarter of 2021.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.
2. **Continued Operation Outside the UK:**Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.
3. **Withdrawal of Assets:**For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.
4. **Conversion of Assets:**To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing firstname.lastname@example.org from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.
5. **Withdrawal Procedure:**To initiate a withdrawal, please email your request to email@example.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at firstname.lastname@example.org Kind Regards