Hypersphere · 200

AC's startup Flying Tulip funds are managed by MEV Capital and Re7 Labs, and the community is calling for re-selection

Comparing news, crypto KOL @Cbb0fe called out to Andre Cronje on the X platform, recommending the re-election of Flying Tulip's $1 billion fund manager. According to official data, the current money management institutions are MEV Capital and Re7 Labs, and the performance of these two institutions during the recent DeFi series storm has been disastrous. In September of this year, Flying Tulip, a crypto project newly founded by Andre Cronje, announced that it had completed a $200 million private seed round with a valuation of $1 billion. This round of funding was provided by Brevan Howard Digital, CoinFund, DWF Labs, FalconX, Hypersphere, Lemniscap, Nascent, Republic Digital, Selini, Sigil Fund , Susquehanna Crypto, Tioga Capital, and Virtuals Protocol participated. The $200 million funding was completed through the Future Token Simple Agreement (SAFT) structure. Flying Tulip aims to build an on-chain trading platform covering the entire DeFi sector — including spot, derivatives, lending, stablecoins, and insurance, all in one system.

278d ago
That man is back! We're going to finance a billion dollars this time

That man is back! We're going to finance a billion dollars this time

Just when everyone thought Andre Cronje had faded out of the crypto world, the legend known as the “father of DeFi” is back. With a brand new project, Flying Tulip, he announced today that he has completed $200 million in financing and plans to launch a public sale (Public Sale). What's more special is that this public offering comes with a mechanism that has never been seen before: users can destroy tokens and recover their principal at any time. This means that participants have a “bottom line protection” for downside risks, and there is still no upper limit on upward returns. Who is Andre Cronje? If you experienced the DeFi summer in 2020, you've definitely heard his name. Andre Cronje is the founder of Yearn Finance (YFI) — a legendary developer who started the DeFi craze with just code. YFI was once hailed as the “fairest token” because he didn't set aside any shares for himself at the time. But after several project hits, community disputes, and security incidents, Cronje faded out of the public eye in 2022. To this day, he “went back to the mountains” with his Flying Tulip. What is a Flying Tulip? Editor's interpretation: “Flying Tulip” literally means “flying tulip.” The tulip is the most famous bubble symbol in financial history (the 17th-century “tulip frenzy” was the earliest speculative bubble). Cronje named the project Flying Tulip, a bit self-deprecating and a bit declarative: the crypto world may be like a tulip, but this time, he wants it to really “fly.” In other words, Flying Tulip wants to make what in the past represented a “bubble” more stable, more realistic, and more vibrant through on-chain mechanisms. Judging from the official documentation, Flying Tulip hopes to build a full-chain financial platform that puts many of the features familiar to crypto users — stablecoins, lending, spot trading, derivatives, options, and insurance — in one system. Simply put, it wants to be a “one-stop DeFi platform” where users can: deposit coins to earn profits; borrow coins for leverage; go long or short; and even hedge risks through on-chain insurance. And all of this is done in a unified account system, and there is no need to switch frequently between different platforms. A “refundable” public offering of tokens that attracted the most attention this time was Flying Tulip's “Onchain Redemption Right (Onchain Redemption Right)”. Traditionally, once users participate in a public token sale (Public Sale), their money is locked up regardless of whether the currency price rises or falls. However, Flying Tulip provides a “programmatic redemption” mechanism — all participants can destroy their $FT tokens at any time to get back their invested capital (such as ETH). The system automatically returns funds from a separate on-chain reserve pool. This design is a bit like an on-chain insurance mechanism, which not only guarantees that investors will not “lose money to the end”, but also preserves room for growth. However, it should be noted that the government also reminds that this is not a “guaranteed return” or “deposit insurance” — the size of the reserve pool is limited, and whether the right of redemption can be executed depends on whether the funds in the pool are sufficient. Funding isn't locked up: Using earnings to feed back growth Cronje mentioned in the roadshow materials shown to investors that this design seems to make it impossible to use the funds, but in reality Flying Tulip plans to invest this money into on-chain revenue strategies, such as mainstream DeFi protocols such as Aave, Ethena, and Spark. Their goal is to achieve an annualized return of around 4%. Based on the plan's funding limit of $1 billion, it will generate approximately $40 million in interest income each year. The proceeds will be used to: payment agreement incentives; repurchase of $FT tokens; and support ecosystem growth and marketing. Cronje described it in the investor materials: “We use circular returns to drive growth and incentives, and use permanent bearish rights to protect the downside of investors while retaining the token's unlimited upward potential — this forms a self-reinforcing growth flywheel (self-reinforcing growth flywheel).” Another highlight that the team didn't reserve a share is that the Flying Tulip team didn't have any beginnings...

327d agoWendy#Andre Cronje #DeFi #Flying Tulip #FT #token #Open call

Flying Tulip raised $200 million at a valuation of $1 billion, with Brevan Howard Digital and others participating

In comparison, Andre Cronje's newly developed contract exchange Flying Tulip raised $200 million at a valuation of $1 billion, Brevan Howard Digital, CoinFund, DWF Labs, FalconX, Hypersphere, Lemniscap, Nascent, Republic Digital, Selini, Sigil Fund, Susquehanna Crypto, Tioga Capital, and Virtuals Protocol participated. It is reported that Flying Tulip is currently planning to publicly sell its FT tokens.

327d ago
The first BNB reserve listed company was delisted, and the coin hoarding strategy is not a panacea

The first BNB reserve listed company was delisted, and the coin hoarding strategy is not a panacea

Original | Odaily Planet Daily (@OdailyChina) Author | Wenser (@wenser 2010) Original title: BNB Reserve listed company WINT was delisted, and the “coin hoarding strategy” couldn't cure all diseases, and no one expected it. The “coin hoarding strategy” that has always been regarded as a guideline by listed companies “failed” for the first time -- according to US SEC documents, the US stock BNB treasury company Windtree Therapeutics (WINT) was notified on August 19 because its stock price was at 1 After staying below the dollar for too long, after many reverse splits and not meeting the usual grace period, its common stock will be delisted from the NASDAQ capital market and traded on the OTC market on August 21. Affected by this news, WINT's stock price closed down 77.21% and is now at $0.11. It has fallen by more than 99.98% from a year ago, which was over $517. Compared with its peak price of $567,000 per share at the beginning of its listing in 2020, it is even more unbearable. Notably, the company announced the establishment of a BNB strategic reserve in July, and the stock price once rose to $1.28, but due to a long period of sluggish stock prices and the emergence of concept stocks such as “CEA, the BNB treasury company supported by Binance,” it was ultimately impossible to escape the fate of delisting. This incident also placed one of the industry's major issues in the public eye: is the coin hoarding strategy effective for all listed companies? The Daily Planet Daily will analyze this in this article. The first delisted “BNB Strategy Listed Company” appeared, sounding a wake-up call for the “coin and stock double repair” industry. According to public information, Windtree Therapeutics Inc. (WINT) is a biotechnology company that mainly focuses on developing innovative treatments for respiratory diseases, especially drugs for acute lung injury and cardiovascular diseases, such as istaroxime and aerosolized KL 4 surfactant. The company was founded in 1992 and is headquartered in Pennsylvania, USA. According to its official website, the final results of its istaroxime 2B clinical trial have been obtained, but it is still far from its vision of “solving a market with significant unmet needs.” As a small biopharmaceutical company, many of Windtree Therapeutics Inc.'s medical projects are in the clinical phase and are far from commercialization. According to the latest data, the company's net revenue for the most recent quarter was -$10.64 million, a significant increase in losses compared to -$404 million in the previous quarter. On July 16, the company announced that it had signed a securities purchase agreement with Build and Build Corp. worth 60 million dollars. The subscription amount may increase to $200 million in the future. The relevant funds will be used to purchase BNB as a reserve for the company's treasury to achieve asset diversification and value creation. At the time, Windtree triggered FOMO in the market under the name of “the first NASDAQ listed company to provide direct investment exposure to BNB tokens,” and its stock price once soared to $1.86. On July 25, it once again stated that it had signed a new financing agreement of 520 million US dollars to buy BNB, but the market response was lackluster, and the stock price fell to around $1. Today, a month later, what they have been waiting for is a NASDAQ delisting announcement. NASDAQ rules come into effect, and Windtree cannot escape delisting (i.e. forced delisting) of listed company shares if the stock price of a listed company has been continuously below the minimum bid requirement of $1 for the past 30 consecutive trading days. Notably, this is not the first time that NASDAQ has issued an “ultimatum” to the company — at the beginning of this year, NASDAQ granted the company a 180-day extension to resume compliance, but it still failed to meet the corresponding requirements as scheduled, so it was impossible to escape the delisting end. However, breaking down the direct reason for Windtree's delisting this time is probably due to the loss of the “ecological rank” competition. The “BNB Treasury Company” orthodoxy dispute. Windtree became a victim of competition. One of the most intuitive reasons for Windtree's delisting is that better “BNB Treasury Company” investment targets have appeared in the market...

366d agoburnking#WINT #Binance Coin
BNB welcomes a “new entrance to Wall Street”, raising $500 million and more than 140 institutions rob

BNB welcomes a “new entrance to Wall Street”, raising $500 million and more than 140 institutions rob

Source | Odaily Planet Daily Author | Ethan Original Title | After spending $500 million, YZi Labs, CEA and 140 institutions bet on the BNB treasury. Following Bitcoin becoming the benchmark reserve asset for listed companies, other mainstream cryptocurrencies are also attracting institutional attention. BNB, an ecological token owned by Binance, the world's largest exchange, recently ushered in another major breakthrough in its strategic reserve mechanism. On the evening of July 28, US stock listed company CEA Industries Inc. (NASDAQ: VAPE) and 10X Capital jointly announced the completion of a $500 million PIPE (Private Equity Public Equity) financing to establish a cryptocurrency reserve with BNB as the core. The deal structure also includes up to $750 million in warrants, making the total potential funding of up to $1.25 billion. This collaboration is not without a trace. As early as July 10, YZi Labs first disclosed that it would support 10X Capital in initiating the establishment of a company called “The BNB Treasury Company” to hold positions in BNB in the secondary market and seek listing on major US exchanges. Despite the lackluster market response at the time, industry insiders already saw it as a carefully designed “preview.” According to the latest plan, the CEA will officially launch its BNB treasury strategy: use this round of funding (combining cash and crypto assets) to open BNB positions in the secondary market. Its core is to provide institutional and retail investors with regulated BNB exposure through the compliance structure of US listed companies. This design logically rivals Strategy's (formerly MicroStrategy) Bitcoin reserve strategy — although there are differences in specific forms, the ultimate goal is the same: to achieve “financialization” and compliant holding of core crypto assets. This also raised a new question in the market: is BNB ushering in its own strategic moment? Three protagonists appear: To understand how the BNB treasury plan was conceived and implemented within three weeks, three key players must be aware of the three key players: YZi Labs, CEA Industries, and 10X Capital. They come from different fields, and the combination may seem “heterogeneous,” but it is this kind of cross-role splicing that has enabled the project to successfully land between traditional finance, the crypto ecosystem, and US stock companies. The first to release the signal was YZi Labs. The agency, formerly known as Binance Labs, completed brand independence in early 2025 and changed its name to YZi Labs. It is supported by CZ and Ho Yi, focusing on cross-cycle investments in Web 3, AI, and Biotech. This agency has frequently appeared behind infrastructure projects such as TON, Zora, and ZKX since this year, and is good at designing penetrable structural solutions between regulation and capital. Unlike traditional venture capital, yZi Labs is more like a “structural bridge”: it does not directly operate assets, but is deeply involved in the underlying design, financing structure, and governance mechanisms of the project to help emerging assets enter the market in a language that traditional finance can understand. In this BNB treasury plan, YZi Labs was the first party to promote structure construction. On July 10, it first announced a partnership with 10X Capital to form The BNB Treasury Company, and the BNB Treasury's “official” narrative was launched. It is worth mentioning that Ella Zhang, the chairman of YZi Labs, has held a leading position since her time at Binance Labs, led the Binance Incubator Program, and is deeply involved in investing in several leading projects. Although the institution operates independently, its historical background and resource system still maintain a high level of consensus with Binance. Because of this, in a context where Binance itself is difficult to directly promote the financialization of BNB in US stocks due to compliance considerations, yZi Labs is the most suitable “spokesperson” and “structural agent” — it is not Binance, but it knows Binance, and it can also open a channel for BNB that the traditional market can understand. The one that actually undertakes treasury implementation tasks is CEA...

389d agoWendy#10 X Capital #BNB Chain #CEA Industries #YZi Labs #What one #Binance #Binance Coin #Coin stock topics

CEA Industries and 10X Capital raise $500 million in private placement to build a BNB treasury

Comparatively, according to Streetinsider, CEA Industries and 10X Capital announced a $500 million private placement with the support of YZi Labs to establish a BNB treasury. It is reported that the two institutions will expand the scale of PIPE issuance. According to reports, more than 140 subscribers participated in the launch. In addition to YZi Labs, there are also Pantera Capital, Arche Capital, GSR, Borderless, Arrington Capital, Blockchain.com, Hypersphere Capital, Kenetic, etc.

390d ago
Listed companies aren't fighting alone: crypto VCs are already driving on the sidelines

Listed companies aren't fighting alone: crypto VCs are already driving on the sidelines

Author: Zen, PanNews Original title: What crypto VCs are working behind the crypto reserve strategies of listed companies? In recent years, more and more listed companies have included crypto assets on their balance sheets, from MicroStrategy (MicroStrategy) taking the lead in betting on Bitcoin, to Trump Media & Technology Group (Trump Media & Technology Group) raising $2.5 billion to build a Bitcoin treasury, to a number of traditional industrial and tech giants testing the waters of stablecoins or Ethereum strategic reserves on a small scale. According to BitcoinTreasures, as of July 17, 154 listed companies have adopted Bitcoin strategic reserves; in addition, according to a research report released by DWF Labs at the end of June this year, listed companies have invested a total of 76 billion US dollars in crypto assets. In addition to the Trump administration's crypto-friendly policies and the exemplary role of microstrategy, there are also crypto venture capital and Web3 funds that focus on institutional digital asset layout — they provide listed companies with comprehensive solutions such as cryptocurrency purchases, tokenized equity, stablecoin settlement, and on-chain treasury management through leading investment in PIPE (Private Investment in Public Equity, private equity investment in shares of listed companies), convertible bonds, and reverse mergers and acquisitions. The main institutions that promote the encryption of listed companies have expanded from Pantera Capital, Animoca Brands, and Sora Ventures in the early days to include DWF Labs, Big Brain Holdings, GSR, Bain Capital Crypto, etc. Recently, more and more crypto VCs have begun to join this ranks. Pantera CapitalPantera has invested in a number of DAT (Digital Asset Treasury) companies, the most famous of which is Twenty One Capital (NASDAQ: CEP), a financial services company led by long-time Bitcoin evangelist Jack Mallers. Pantera is also the institution that invested the most in its PIPE funding round. Twenty One is trying to follow MSTR's strategy and is supported by three industry giants: Tether, SoftBank, and Cantor Fitzgerald. Pantera points out that Twenty One is just the right size to use all capital market instruments and has a small market capitalization, so it has the flexibility to grow BPS faster than MSTR and trade at a higher premium. Additionally, Pantera led an investment in DeFi Development Corp (NASDAQ: DFDV, formerly Janover), which set off the DAT trend in the US. DFDV, led by CEO Joseph Onorati and CIO Parker White, is drawing on MSTR's strategy but applying it to Solana. Pantera believes that Solana is an interesting alternative to BTC for several reasons: due to its short maturity period, it may have more room to rise than BTC; higher volatility than BTC, which means higher returns can be achieved using this volatility; its staked earnings portion can boost the growth of SOL per share; and because there are fewer alternatives currently available, Solana has more untapped demand. In addition to supporting publicly traded companies holding Bitcoin and Sol treasury, Pantera also invested in Sharplink Gaming (SBET), the first US Ethereum digital asset finance company. SBET is a software company led by Consensys, a software company headed by Ethereum co-founder Joe Lubin, to launch the ETH treasury strategy, and Pantera has been working with the team for over a decade. Galaxy Digital In May 2025, Trump Media announced that it would raise about $2.5 billion to build a Bitcoin treasury by issuing $1.5 billion in common stock and $1 billion in convertible bonds. Galaxy Digital not only acted as a financial advisor for this debt and equity financing, but also as the lead underwriter...

400d agoLuxurytracy#Animoca Brands #MicroStrategy #VC

Crypto venture capital Hypersphere investment partner loses 'multi-year savings' in fake Zoom meeting

Comparing news, Mehdi Farooq, an investment partner at the crypto venture capital Hypersphere, revealed on the X platform that six crypto wallets were emptied and lost years of savings due to a phishing attack that impersonated Zoom meetings. The attack began when his friend “Alex Lin” was interviewed via Telegram. The other party requested a switch to the Zoom Business version on compliance grounds and lured him into downloading malicious updates. Farooq said that during the attack, the hackers still disguised normal chats via Telegram, and even joked “see you in Singapore.” It was later confirmed that the real account had been stolen, and the attack may be related to the North Korean hacker group “DangrousPassword.”

429d ago#wallets #hacks