HomeCryptoThe South Australian cryptocurrency player has received funding from FTX, Alameda
The South Australian cryptocurrency player has received funding from FTX, Alameda
December 16, 2022
The group’s spokesperson did not immediately respond to a request for comment on who owned the most StepN coins.
On April 28, about three months after the seed funding round by groups such as Alameda, Sequoia Capital, Solana Capital and 6th Man Ventures, the StepN coin reached an undiluted market capitalization of $2.4 billion at a maximum price of 4 dollars. 05.
The leaked document details Maclaurin Investments Ltd (formerly known as Alameda Ventures) as the StepN investor via a Simple Future Token Agreement (SAFT), described as a security issued for the future transfer of digital tokens from cryptocurrency developers to investors .
StepN Find Satoshi Lab was founded by Adelaide-based cryptocurrency entrepreneurs Yawn Rong and his former neighbor Jerry Huang, who are listed as graduates of the University of South Australia and Zhejiang University in China, respectively.
Mr. Rong previously co-founded Crypto SA, an Adelaide-based blockchain investment firm, where he is described as an initial coin offering (ICO) analyst and cryptocurrency connoisseur.
StepN’s website describes itself as a web3 lifestyle and gaming app that rewards users with StepN’s non-fungible tokens (NFTs) for walking, jogging, and running outdoors.
In September, StepN boasted that its vast empire of web3 and NFT products had 4.7 million registered users and that its decentralized DOOAR exchange was number one globally for Solana-based users.
It said it has integrated Binance Smart Chain, Solana, and Ethereum blockchains into its StepN platform with daily active users, including those walking, running, and jogging for NFTs, hitting an all-time high of 1 million on June 2.
In November, South Australian entrepreneurs launched MOOAR, a multichain NFT marketplace.
Other firms in the leaked list of FTX’s portfolio of nearly 500 venture capital investments include SkyBridge Capital and venture capital group Sequoia Capital.
SkyBridge made a $45 million investment, with Sequoia Capital Heritage Fund and Sequoia Capital Fund investing $200 million, according to the filings.
Reports suggest that about $1 billion in assets have so far been recovered on behalf of FTX’s creditors in what will likely be the largest fraud in US history.
On December 7 the Financial Times first reported the leaked portfolio of around 500 investments and said it showcased FTX’s scattered approach to venture capital investing in the crypto universe.