Australian digital asset manager Monochrome has concluded a $1.8 million Series A fundraiser led by some of crypto’s most influential entrepreneurs, underscoring the growing potential of institutional-grade crypto-asset solutions. The cash injection will be used by Monochrome to develop new products specializing in Bitcoin (BTC) and other digital assets, the company said. The Series A was co-led by Litecoin creator Charlie Lee, Blockstream chief strategy officer Samson Mow, former Binance CFO Wei Zhou and Kain Warwick, the founder of Blueshyft and DeFi protocol Synthetix. Following the raise, Monochrome’s total valuation was estimated to be worth roughly $15 million. Monochrome was …

Digital asset manager and Bitcoin (BTC) ETF proponent Valkyrie Investments recently concluded a $10 million Series A funding round, once again highlighting growing investor interest in crypto-focused firms. In addition to Charlie Lee, who is a well-known entrepreneur in the cryptocurrency industry, the funding round also saw participation from XBTO, BTC Media, UTXO Management, Consolidated Trading and 10X Capital. Interestingly, former Major League Baseball pitcher CJ Wilson was also among the investors, as was Tron founder Justin Sun. Valkyrie CEO and World Bank veteran Leah Wald said her firm is focused on broadening investor access to cryptocurrencies in a “managed, …

Charlie Lee, the creator of major cryptocurrency Litecoin (LTC), believes that the ongoing spike in popularity of the nonfungible token, or NFT, industry has much in common with the 2017 initial coin offering, or ICO, mania. Lee provided at least five similarities between 2021’s NFT popularity and 2017’s ICO mania, also comparing both to the altcoin craze in 2013 in a tweet on Tuesday. According to the Litecoin creator, all three cryptocurrency phenomena look very similar, as they are easy to create “with no barriers” and simple to understand and explain. Lee noted that NFTs, ICOs and 2013’s altcoins also …

Nonfungible tokens are currently a major topic of discussion within the crypto space, with creators and collectors alike jumping on the bandwagon. However, Litecoin (LTC) creator Charlie Lee is of the opinion that the hype is unsustainable. Tweeting on Monday, Lee said that unlike “real art,” NFTs have “zero cost” of creation. With all that said, I’m willing to be proven wrong. I created a unique NFT with my profile pic. It cost me nothing (well except for the ridiculous ETH gas fee) and no effort at all. Prove me wrong and show me that this has value: https://t.co/ucmu8KB1Us — …

In an online event prepared by the Litecoin Foundation on Sept. 15, Litecoin (LTC) creator Charlie Lee and CipSoft CEO Stephan Vogler announced the release of LiteBringer, a role-playing fantasy game which runs on top of the Litecoin blockchain. “It’s the first major game that utilizes the Litecoin blockchain for all of its interactions,” Lee said. Vogler stated the game is fully decentralized, meaning all users have to be running a Litecoin node to play. He also noted that access is completely dependent on players having at least some Litecoin on hand. The game reportedly includes a “Litecoin faucet”, which …

The first Litecoin (LTC) native Visa debit card is being launched by BlockCard. Charlie Lee told Cointelegraph this is their second attempt at the endeavour as the previous one failed: “We previously worked with LitePay on a debit card but that failed when LitePay went out of business.” Lee also drew a distinction between this Litecoin-native debit card and other crypto cards that support the currency: “There are other crypto debit cards available today that support Litecoin, but they only support funding with LTC. This card is natively LTC, so funds are kept in LTC until you swipe the card.” …

Cardano founder Charles Hoskinson recently said that he would not mind working with Litecoin founder, Charlie Lee, to test cross chain communication. "It would be great to do something together," Hoskinson said in a July 7 tweet to Lee. Both men founded industry giants Hoskinson founded Cardano (ADA), which, at press time, sits seventh on the list of crypto assets in market cap size, according to CoinMarketCap. Litecoin maintains the eighth spot. Both figure heads hold notable status in the crypto and blockchain space. "I love the idea of testing cross chain communication between Litecoin and Cardano. We got a …

The creator of Litecoin, Charlie Lee, discussed the upcoming MimbleWimble upgrade which aims at enhancing Litecoin’s scalability and privacy. Lee noted that Litecoin’s upcoming implementation will be able to scale much better than other privacy-focused protocols, like Monero or Z-Cash. “It does privacy and scare very well compared to other implementations”, he said. Talking about the risks involved, Lee pointed out “hidden inflation”, a bug commonly affecting privacy coins which allows hackers to counterfeit an infinite amount of coins. However, “The risk is manageable”, Lee noted, pointing out that the privacy feature will be implemented solely on the MimbleWimble extension …

On Feb. 28, the Litecoin Foundation announced a partnership with MeconCash to roll-out Litecoin (LTC) to Korean won withdrawals and remittances from 13,000 ATMs in South Korea. The partnership will see LTC integrated onto MeconCash’s M.Pay payments platform. Litecoin will also be accepted as payment on MeconCash’s retail platform MeconMall, and to pay for games that accept M.Pay rewards. According to CryptoCompare, 24-hour trade between Litcoin and won produced nearly $4.3 million in trade — comprising 0.82 percent of total trade at press time. Charlie Lee, the managing director of the Litecoin Foundation, described the partnership as “a big step …

Litecoin (LTC) founder Charlie Lee proposed mining pool donations as a new funding method for cryptocurrency development. “I think a better way to fund development is mining pools voluntarily donate a portion of the block reward,” Lee said in a tweet on Jan. 24, adding: “How about Litecoin pools donate 1% (0.125 LTC) of block rewards to the @LTCFoundation? If every miner/pool does this, it amounts to about $1.5MM donation per year!” With 1% donated on a consistent basis, Lee’s suggested solution would provide enough funding for Litecoin permanently going forward, Lee confirmed to Cointelegraph. He explained: “At current LTC …

A Grin (GRIN) developer funded by the Litecoin Foundation has suggested a solution for fixing the “Achilles heel of Mimblewimble privacy.” David Burkett, a developer at Mimblewimble’s (MW) privacy-centric coin Grin, started a thread on monthly updates detailing progress on both Grin’s development and the integration of MW’s privacy-focused technology into Litecoin (LTC). The developer announced the news on Twitter on Dec. 1: “I'll be posting monthly status updates detailing progress on the LTC MW EB (YAY acronyms). This is geared toward those interested in LTC development, but will also talk a lot about Grin++ changes, so it may be …

As Litecoin (LTC) celebrated its eighth birthday on Oct. 13, its founder Charlie Lee had to fend off crypto Twitter’s FUD — fear, uncertainty and doubt — about the altcoin. Lee’s original post was the exuberant announcement that: “Litecoin network has been up and running continuously for the past 8 years with zero downtime. And in that span of time, over $500,000,000,000 worth of LTC have been transacted. Looking forward to the next 8 years and more! ” “We have enough money to last 2 years” The first response to the birthday post immediately raised the specter of bankruptcy allegations, …