{"id":38274,"date":"2022-12-16T07:06:34","date_gmt":"2022-12-16T07:06:34","guid":{"rendered":"http:\/\/egrowonline.com\/?p=38274"},"modified":"2022-12-16T07:06:34","modified_gmt":"2022-12-16T07:06:34","slug":"south-australian-crypto-player-took-funding-from-ftx-alameda","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=38274","title":{"rendered":"South Australian crypto player took funding from FTX, Alameda"},"content":{"rendered":"


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The group\u2019s spokesperson did not immediately respond to a request for comment as to who beneficially owned the majority of StepN coins.<\/p>\n

On April 28, about three months after the seed funding round from groups including Alameda, Sequoia Capital, Solana Capital and 6th Man Ventures, the StepN coin ballooned to an undiluted market cap of $US2.4 billion at a peak price of $US4.05.<\/p>\n

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The leaked document details Maclaurin Investments Ltd (formerly known as Alameda Ventures) as the StepN investor via a simple agreement for future tokens (SAFT), This is described as a security issued for the future transfer of digital tokens from cryptocurrency developers to investors.<\/p>\n

StepN Find Satoshi Lab is founded by Adelaide-based cryptocurrency entrepreneurs Yawn Rong and his former neighbour Jerry Huang<\/a>, who are listed as graduates of the University of South Australia and Zhejiang University in China, respectively.<\/p>\n

Mr Rong previously co-founded Crypto SA, a blockchain investment firm headquartered in Adelaide, where he\u2019s described as an initial coin offering (ICO) analyst and crypto connoisseur.<\/p>\n

The StepN website describes itself as a web3 lifestyle and gaming app that rewards users with StepN non-fungible tokens (NFTs) for walking, jogging and running outdoors.<\/p>\n

In September, StepN boasted that its sprawling web3 and NFT product empire had 4.7 million registered users, and its decentralised DOOAR exchange as the number one globally for Solana-based users.<\/p>\n

It said it had integrated the Binance Smart Chain, Solana and Ethereum blockchains into its StepN platform with daily active users \u2013 including those walking, running, and jogging for NFTs \u2013 reaching an all-time high of 1 million on June 2.<\/p>\n

In November, the South Australian entrepreneurs launched MOOAR, a multichain NFT marketplace.<\/p>\n

Leaked list<\/h2>\n

Other businesses in the leaked list of FTX\u2019s portfolio of about 500 venture capital investments include SkyBridge Capital and venture capital group Sequoia Capital.<\/p>\n

SkyBridge took a $US45 million investment, with the Sequoia Capital Heritage Fund and Sequoia Capital Fund taking $US200 million in investments, according to the documents.<\/p>\n

Reports suggest around $US1 billion in assets have been recovered so far on behalf of FTX creditors in what is likely to be the biggest fraud in US history.<\/p>\n

On December 7, the Financial Times<\/em> first reported the leaked portfolio of some 500 investments and said it showed FTX\u2019s scattergun approach to venture capital investment across the crypto universe.<\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The group\u2019s spokesperson did not immediately respond to a request for comment as to who beneficially owned the majority of StepN coins. On April 28, about three months after the seed funding round from groups including Alameda, Sequoia Capital, Solana Capital and 6th Man Ventures, the StepN coin ballooned to an undiluted market cap of […]<\/p>\n","protected":false},"author":1,"featured_media":38275,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[39],"tags":[989,3794,62,2258,901,2548,744],"class_list":["post-38274","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ico","tag-alameda","tag-australian","tag-crypto","tag-ftx","tag-funding","tag-player","tag-south"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/12\/35900293f5b0ed97f6f17e839d889596941752a6.jpeg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/38274","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=38274"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/38274\/revisions"}],"predecessor-version":[{"id":38276,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/38274\/revisions\/38276"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/38275"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38274"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}