New York-based bitcoin firm NYDIG said it raised $1 billion at a valuation of more than $7 billion, the latest in a series of blockbuster funding rounds this year by cryptocurrency startups
, a deal that signaled growing mainstream acceptance of digital currencies and helped ignite a huge bull market in crypto during the following months. MassMutual took a minority stake in NYDIG as part of that transaction.
More recently, NYDIG has focused on selling technology to allow banks, credit unions and merchants to embed bitcoin services in their websites or smartphone apps. In November, the firm struck a deal with restaurant and hotel conglomerate Landry’s Inc. to allow customers to earn bitcoin-based loyalty points for dining at its restaurants. Landry’s brands include Morton’s The Steakhouse and the Bubba Gump Shrimp Co.
Shiba Inu Coin’s recent surge, and subsequent fall in value, is part of a growing trend of meme coins that are rivaling some of the largest digital tokens in the world. WSJ retail investing reporter Caitlin McCabe explains why investors are pouring money into this meme based cryptocurrency. Photo: Amber Bragdon/Getty Images
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