Bitcoin Ordinals Wallet Oyl Raises $3M With Arthur Hayes, BRC-20 Creator Domo Among Investors

March 7, 2024
The Last Cryptocurency
CoinDesk Feed
CoinDesk Feed

Bitcoin Ordinals wallet Oyl has raised $3 million in pre-seed funding with backing from investors, including crypto entrepreneur Arthur Hayes and pseudonymous BRC-20 token standard creator Domo.

The round was led by Arca, a venture firm primarily focused on Ethereum non-fungible tokens (NFTs), according to an emailed announcement on Thursday.

Multiple other Ethereum NFT funds were also among the backers, marking their first investment in a Bitcoin-focused company. These investors included Kanosei and FlamingoDAO.

Oyl is set to roll out in the coming weeks and will be the first platform to offer “in-wallet” trading of Ordinals.

The Ordinals Protocol allows users to mint tokens that can be traded on the Bitcoin network by embedding data into small Bitcoin-based transactions. Ordinals has brought an equivalent of NFTs and other decentralized finance (DeFi) functions to the Bitcoin ecosystem.

Edited by Aoyon Ashraf.

The venture capital arm of Binance has invested $10 million in Radiant Capital, a decentralized finance (DeFi) lending and borrowing protocol.The new funds will go toward tech and product development, which includes expanding collateral and deployment on the Ethereum mainnetRadiant is built on architecture from LayerZero Labs, another Binance Labs portfolio company. The lending platform…

CFTC Subcommittee Sends Up Recommendations for Letting Firms Use Tokenized Shares as Collateral: Bloomberg

A vote was passed on Tuesday to move recommendations on the use of tokenized shares of money-market funds to a larger body. A subcommittee of the CFTC moved its recommendations to the full committee but the recommendations are not yet known. The likes of BlackRock and Franklin Templeton could see tokenized shares of their money-market

Bitcoin Back Over $8K as Traditional Markets Rebound

Mar 10, 2020 at 11:39 UTCUpdated Mar 10, 2020 at 11:43 UTCBitcoin is witnessing a recovery rally alongside the traditional finance markets a day after slumping to two-month lows. The top cryptocurrency by market value is currently trading near $8,070, representing a 5 percent gain on lows near $7,640 registered on Friday, according to CoinDesk's…

Central Banks Sending Worrisome Signals About the Economy

This episode is sponsored by NYDIG.On today’s episode, NLW gets macro with a discussion of a flattening of the yield curve and what increasingly seems like a failed yield curve control experiment in Australia. He looks at:What the “yield curve” isWhat a yield curve flattening or inversion is signalingThe latest from the U.S. Federal Reserve…

Crypto.com Fined $3.1M by Dutch Regulator for Operating Without Registration

Crypto.com faced a $3.1 million fine from the Dutch central bank for operating in the country without registration.The regulator said it hit the platform with an increased fine for multiple reasons, including serving a "significant number" of customers in the Netherlands and not paying supervisory fees.The platform is now registered with De Nederlandsche Bank (DNB).Crypto

Bitfinex Claims ‘New York’ Customers Cited by NYAG Are Foreign Entities

news Arguments that Bitfinex and Tether served New York residents through 2018 are misleading, new legal filings by the companies claim. A new affirmation by Bitfinex and Tether general counsel Stuart Hoegner says a previous filing by the New York Attorney General’s office claiming that Empire State residents used the companies’ platforms for far longer than…

NYSE Parent ICE Anticipates Over $20 Million Spend on Bakkt This Year

news Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, estimates it will spend more than $20 million this year in building Bakkt, its bitcoin futures trading and custody platform. In an earnings call for Q4, 2018, on Feb. 7, Scott Hill, ICE’s chief financial officer, said the firm’s investment in Bakkt…

Enjin Coin Crypto Soars 70% on Samsung Partnership Confirmation

news Gaming cryptocurrency Enjin Coin (ENJ) is up 70 percent after news reports earlier today that confirmed a partnership with South Korean technology giant Samsung. On Friday, media outlets in South Korea reported the partnership between Enjin, the Singapore-based company behind ENJ, and Samsung’s flagship smartphone S10, was confirmed, which ignited Korea’s investor base to…

Binance Partners With Malta to Launch Security Token Trading Platform

Binance, the world's largest crypto exchange by volume, is teaming up with the Malta Stock Exchange (MSX) to enable security token trading on the "blockchain island," a local news site reported Tuesday. The exchange's chief financial officer, Wei Zhou, signed a memorandum of understanding with MSX chairman Joe Portelli to launch a security token trading…

Share this: