Peter Thiel
Crypto lender Vauld seeks protection against creditors: Report
Singapore crypto exchange Vauld Group is seeking a moratorium against its creditors — a move that would give the troubled lender more time to restructure its business after collapsing asset prices impacted its operations earlier this month. Vauld filed an application in Singapore on July 8 seeking a moratorium order, The Wall Street Journal reported Wednesday. If granted, the moratorium would provide the distressed lender more time to seek out a proper restructuring plan. The Journal said a Singaporean moratorium order is similar to Chapter 11 bankruptcy in the United States, although the moratorium helps the company avoid complete closure. Vauld issued a statement on July 11 informing the public that it would pursue a moratorium order to give management “the breathing space it requires to...
City-building startup Praxis secures $15M in Series A Funding
Peter Thiel-backed city-building startup Praxis has raised $15 million in Series A funding from a variety of crypto venture firms led by Paradigm Capital, Sam Bankman-Fried‘s Alameda Research and Three Arrows Capital. Dryden Brown of New York University and Charlie Callinan of Boston College co-founded Praxis, formerly Bluebook Cities, in 2019. they described their goal as: “building the city-crypto state to realize a more vital future,” according to the company website. Praxis wants to pivot away from “artificially scarce metaverses” to build a city-state that is organized around “shared values,” rather than the “labor market principles of the Industrial Age.” The cryptocurrency-run city will reportedly focus heavily on functional architecture and environmental technology. Money made from...
