According to a press release, Celo, an open source blockchain decentralized finance (DeFi) ecosystem, raised $ 20 million from partners like Andreessen Horowitz, Greenfield One and Electric Capital. This brings total support to over $ 65 million.
Celo also announced the official launch of its app for mobile transfers and peer-to-peer payments (P2P), Valora, in the release. The P2P app only charges $ 0.01 per transaction. Celo completed a pilot program of the app late last year and has tens of thousands of users.
“When we first supported Celo two years ago, we saw the opportunity to build a full-stack, global payment platform that anyone with a smartphone can use to send, receive and store money,” said Katie Haun, General Partner at Andreessen Horowitz in the publication.
The platform has also developed a stable coin, the cUSD; a domestic asset, CELO; and a mainnet.
In other news, Europol arrested eight people on Tuesday (February 9) in connection with a SIM swap scam targeting celebrities and other high-profile victims. According to a press release, two other people were arrested earlier.
Throughout 2020, the criminal gang allegedly attacked thousands of victims and stole more than $ 100 million in cryptocurrency, the press release said. Destinations included sports stars, musicians, internet influencers and their families.
SIM swap fraud occurs when criminals deactivate a victim’s SIM card and transfer the phone number to a SIM card owned by the criminal. You can then change passwords and steal money, cryptocurrency and personal information.
“This type of fraud is known as ‘SIM exchanges’ and has been identified as a major trend on the rise in Europol’s latest organized cyber crime threat assessment,” the press release said.
Meanwhile, Square and Twitter CEO Jack Dorsey donated $ 1 million to Coin Center, a cryptocurrency think tank, to support the Washington, DC nonprofit’s research and lobbying goals
Dorsey’s donation follows a same donation made by digital currency management company Grayscale Investments last month, according to Jerry Brito, executive director of Coin Center, who announced the news in a tweet on Wednesday (February 10).
“I’m very excited to announce that Coin Center has received donations to fully enjoy @Grayscale’s incredible $ 1 million match,” Brito said on Twitter. “We were amazed at the community support.”
Dorsey was vocally optimistic about Bitcoin, investing $ 50 million from Square in Bitcoin last fall.
“Coin Center received an incredibly generous $ 1 million gift from @jack – we are speechless,” Brito added in the tweet. “We were almost at our goal for the matching campaign when he exaggerated us and a few more. Your trust in our work is incredibly humble. “
NEW PYMNTS DATA: BUY NOW, PAY LATER, CONSUMER STUDY
Over: Buy Now, Pay Later: Millennials and the Changing Dynamics of Online Credit, a collaboration between PYMNTS and PayPal, explores the demand for new flexible credit options and the way consumers, especially in the millennial demographics, are paying online. The study is based on two surveys of nearly 15,000 US consumers.
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