Alibaba Fintech Division to Invest in QEDIT

$10M worth series A financial round was led by MizMaa Ventures; Ant Financial, Meron Capital, Collider Ventures, Jovono, Target Global and RGAX took part too
08 May 2019   274

QEDIT, developing privacy-oriented solutions for commercial blockchains, closed a $ 10 million round of financing for Series A, led by venture capital firm MizMaa Ventures.

Among the participants of the round there are also Fintech division of Ant Financial, which is part of the Alibaba, Meron Capital, Collider Ventures, Jovono, Target Global and RGAX.

QEDIT develops solutions based on zero-knowledge proof compatible with private commercial blockchains. It is noteworthy that Ant Financial intends to use the technology in its blockchain services.

Note that earlier QEDIT raised $ 3 million in a seed round and $ 1 million in grants.

In the summer of 2018, Ant Financial, following the results of the round of financing of Series C, raised $ 14 billion to develop blockchain solutions an launched a cross-border settlement service based on distributed ledger technology soon.

BTC Invesment Profitability to Exceed Traditional Assets

This conclusion was made by Binance Research team in study "What Bear Market?"; since begining of the year the BTC has grown by more than 50%, while oil by 33%
08 May 2019   320

Since the beginning of the year, Bitcoin has grown faster than traditional market assets, including oil, technology companies, real estate and gold. This conclusion was made by Binance Research in the new study "What Bear Market?"

Since the beginning of the year, the price of Bitcoin has grown by more than 50%, while oil - by 33%, tech stocks - by 18%. The price of gold in five months slipped by 1%.

Recently, however, some factors have emerged that may put pressure on the price of Bitcoin. Thus, the recovery of BTC growth slowed down somewhat amid news of a hacker attack on the popular Binance exchange itself, as a result of which 7,000 BTC ($ 40.5 million) were stolen.

Another potentially negative factor for the price of Bitcoin could be the upcoming IEO of the Bitfinex exchange, where Tether stablecoins will be used to purchase LEO tokens for $ 1 billion. It can lead to situation when large players can may actively sell BTC.