H2O Waters Securities Launches First Crypto Water Token, Sequoia China $9 Billion Funding, Federal Reserve not Impressed by USD CBDC
H2O Waters Securities has launched the first water-focused crypto token. Sequoia China closes in on a $9 billion funding round to help new projects seed rounds and ventures, as the federal reserve appears not to be impressed by the idea of CBDCs.
H2ON Launches as First Crypto Water Token
According to a recent CNBC report, yesterday, 4th July, a South Africa-based waters securities introduced the first-ever crypto water token. The token ‘H2ON’ can help raise capital to finance water projects across the globe. H2ON attracted an investment totaling $150 million from GEM digital, which listed over 30 CEXes and DEXes globally.
Based on the info, this company combines infrastructure, finance, and experts in the water industry to continue running this pioneer crypto water token. More than 2 billion people across the world face scarcity of water supply, and the numbers could increase in the coming years.
There is insufficient funding for the water industry, and its infrastructure could surpass $18 trillion by 2030. H2ON guarantees to help fund the infrastructural development in the water industry. The founder and CEO of H2O holdings Julius Steyn recently said:
“The focus with the H2ON token is mainly on the financing of water projects internationally and not so much on the technical engineering and construction of such projects.”
Reports indicate that Bitmart, the global crypto exchange, will be listing this token come Monday and available on other markets come Thursday.
Sequoia China About to Close $9 Billion in Fresh Funds
According to a recent report by The Information, Sequoia China, the Chinese affiliate of Sequoia capital, announced that it would close $9 billion in fresh capital. When tweeting about the news, Wu Blockchain said:
“Sequoia Capital’s Chinese affiliate is about to close $9 billion in fresh capital for four new funds. Sequoia China has invested in Bitmain, Huobi, Conflux Babel, etc.”
This new chunk of raised funds comes when “global investors are reevaluating risks in China amid a COVID-hit economy and an ongoing regulatory crackdown on the country’s internet upstarts.”
The new capital comes from endowment funds, pensions, and family offices from Europe, the US, South Asia, and the Middle East. Since its launch, Sequoia has funded over 900 China-based companies. The funds will help Sequoia continue betting on Chinese tech companies across all stages, seed, venture, growth, and expansion.
Nexo to Acquire Vauld Lending Network
Recent reports indicate that a popular crypto lending platform, Nexo, is planning to potentially acquire Vauld, a troubled lending platform. Nexo already signed an indicative term sheet with Vauld, which stipulated a possible 100% purchase of the latter. This term sheet gives Nexo 60 days to conduct due diligence.
Antoni Trenchev, the Co-founder of Nexo, noted that:
“We have to see what exactly is on their books and it’s going to take a little while… But since we have the exclusive exploratory period, we are the only ones looking at them right now.”
Vauld has been under severe financial troubles in recent days, having suspended withdrawals, deposits, and trading. They even hired a financial and legal advisory for restructuring. Trenchev also said:
“We have to view it in the overall context of if we step in, can we restructure the business so that it is functioning again, so that it is profitable within the Nexo umbrella, which as a company is profitable and whether we can accumulate that.”
Federal Reserve not Impressed by Idea of CBDC
According to recent reports, the concept of dollar digitization did not impress panelists at Federal Reserve’s first conference. A federal reserve report indicates that the panelists “discussed questions such as whether certain technological aspects of digital assets,” including CBDCs, can change the pros associated with the US dollar.
However, the “Panelists generally agreed that technology by itself would not lead to drastic changes in the global currency ecosystem.” Other factors such as support for the rule of law, network effects, stability, and market depths are vital for dominant currencies.
The Panelists also argued:
“The current landscape for digital assets has tended to be more centered on retail investors for speculative purposes with movement toward institutional investors constrained by the lack of a regulatory framework.”
