Bitcoin

Bitcoin Daily: Telegram TON Blockchain Delay Sparks Clawback Clause; Andreessen Horowitz Eyes DeFi, NextGen Payments With New Fund

Telegram

Telegram delayed its TON blockchain rollout, which moves its date to go live to next year and sparks an expensive clawback measure, CoinDesk reported.

The app is reportedly willing to give back as much as 72 percent of every investor's stake, with the terms arranged at the time of the first delayed rollout after a U.S. Securities and Exchange Commission (SEC) suit. Telegram also reportedly offered an option for investors to lend their investment to the app up to this time in 2021. The firm had lost its first court battle with the commission, and a judge stipulated that Telegram could not put out its "gram" tokens or roll out its blockchain before the resolution of the matter.

In other news, Andreessen Horowitz is putting the focus on digital currency investments with a new fund, CoinDesk reported.

The company said it is eyeing projects involving decentralized finance (DeFi) and next-generation payments, among other areas. The firm said that DeFi, in particular, “opens the components of finance to the same recombination and experimentation that makes open-source software so powerful.”

The venture capital firm said it has raised an overall $515 million, which is said to exceed the first $450 million goal for its “Crypto Fund II” that is designated for blockchain and digital currency projects. Its first digital currency fund rolled out in 2018.

Meanwhile, a number of digital currency exchanges are bolstering their hiring efforts amid rising job losses, Bloomberg reported.

Binance Holdings Ltd. grew its roster by 25 percent in the first quarter and is strengthening its team backing Binance Pool. Kraken LLC said it’s looking to recruit 350 staffers this year instead of the 250 staffers it had planned to bring on board. OkEx, an exchange, said it would publicize a worldwide hiring program in May.

Labor Department numbers showed on Thursday (April 30) that initial jobless claims reached 3.84 million overall for the week concluding April 25.

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