Canada-Based Crypto Mining Firm Great North Data Files for Bankruptcy

Canada-based cryptocurrency mining company Great North Data has submitted a bankruptcy filing, purportedly due to insolvency. As the Canadian Broadcasting Corporation reported on Dec. 4, Great North Data — which operated crypto mining facilities in Labrador City and Happy Valley-Goose Bay —  filed bankruptcy documents in late November, listing CA$13.2 million ($10 million) in liabilities, while having only CA$4.6 ($3.5 million) million in assets. Liabilities to the state With that, Great North Data reportedly owes CA$313,718 ($238,080) to the Newfoundland and Labrador government’s Business Investment Corporation, which the company secured…

Pomp Joins Figure’s Board as Firm Completes $103M Funding Round

California-based fintech company Figure Technologies has completed its $103 million funding round led by cryptocurrency asset manager Morgan Creek Digital. In conjunction with closing the Series C round, the blockchain-focused firm announced that Morgan Creek co-founder Anthony Pompliano had joined Figure’s board, according to a press release on Dec. 5. The news comes three days after Figure secured $58 million of the planned $103 million, according to its filing with the United States Securities and Exchange Commission. According to the new announcement, Figure Technologies’ total funding now exceeds $225 million,…

Crypto Cybersecurity Firm Ledger Hires In-House Security Officer As New CTO

Hardware wallet manufacturer Ledger has hired Charles Guillemet as chief technology officer (CTO) where he will oversee the company’s security operations. In a press release shared with Cointelegraph on Dec. 5, Ledger said that Guillemet has been in charge of the company’s security assessments for Ledger’s products ever since he started working at the firm in 2017. Guillemet also founded the company’s security department and evaluation lab, has assessed the security of competitor devices, and has disclosed vulnerabilities that contributed to the security throughout the blockchain ecosystem. Guillemet commented on…

Pompliano Joins Board of Blockchain-Based Lending Firm After $103M Raise

The raise brings Figure’s total funding to more than $225 million and values it at $1.2 billion, according to a company press release. Aside from Morgan Creek, which led the round, and MUFG, participants included DCM, Digital Currency Group, HCM Capital, Ribbit Capital, RPM Ventures and The Partners at DST Global. While the size of the round was disclosed in a securities filing last month, the other details were not revealed until now. Source link

Former CFTC Chair to Remain Focused on Crypto and Blockchain at New Law Firm

Former United States Commodity Futures Trading Commission (CFTC) chairman Chris Giancarlo was hired as senior counsel at the New York-based law firm Willkie Farr & Gallagher. Digitize the dollar and take power away from central banks On Dec. 2, Reuters reported that Giancarlo in his new role at Willkie Farr & Gallagher will continue to focus on digital innovation in areas such as cryptocurrencies and blockchain. Giancarlo, also known as “Crypto Dad,” commented on his new role: “I will divide my time between assisting Willkie clients in their worldwide commercial…

Blockchain Firm Figure Technologies Secures $58M, Aims for $103M

San Francisco-based fintech firm Figure Technologies has secured $58 million in a recent funding round which aims to raise a total of $103 million. According to a filing with the United States Securities and Exchange Commission, Figure — which is the creator of Provenance, a blockchain platform to track supply chains — has raised over $58.8 million in a total equity offering of $103 million.  In February, Figure raised $65 million in Series B equity funding, which brought the company’s total equity funding to over $120 million. At the time, the…