Rymedi, a Web3 healthcare information platform that leverages blockchain technology to improve data integrity, interoperability and compliance, has announced that it has raised $9 million in a Series A funding round led by Polychain Capital. The round also saw participation from other investors such as Digital Currency Group, Hashed, CoinFund and Fenbushi Capital.
The funding will be used to expand Rymedi’s global presence, scale its platform and develop new solutions for the healthcare sector. Rymedi’s platform enables healthcare stakeholders to securely share and verify data across different systems and jurisdictions, while ensuring compliance with regulatory standards and industry best practices. Rymedi’s platform also supports the creation and management of digital health credentials, such as vaccination records and test results, that can be verified by third parties.
Rymedi’s co-founder and CEO, David Stefanich, said: “We are thrilled to have the support of such prestigious investors who share our vision of building a Web3 healthcare information platform that can transform the way data is exchanged and utilized in the healthcare industry. We believe that blockchain technology can unlock tremendous value for healthcare stakeholders by enhancing data quality, security and interoperability, while reducing costs and risks. We are excited to leverage our new capital to accelerate our growth and innovation.”
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Olaf Carlson-Wee, founder and CEO of Polychain Capital, said: “Rymedi is a pioneer in applying Web3 technology to the healthcare sector, which is one of the most complex and regulated industries in the world. We are impressed by Rymedi’s track record of delivering successful projects with leading healthcare organizations, such as the World Health Organization, the Mongolian Ministry of Health and the Rwandan Ministry of Health. We are confident that Rymedi’s platform can become a global standard for healthcare data exchange and verification.”
BUSD market cap down 90% from all-time high.
In a shocking turn of events, the market capitalization of BUSD, the stablecoin issued by Binance, has plummeted by 90% from its all-time high of $12.8 billion in September 2023. This comes amid reports that Binance, the world’s largest cryptocurrency exchange by trading volume, is closing positions of its users without their consent.
According to sources, Binance has been facing regulatory pressure from various jurisdictions, including the US, UK, Japan, and Singapore, over its compliance and transparency issues. The exchange has also been accused of market manipulation, money laundering, and facilitating illegal transactions.
As a result, Binance has been forced to reduce its exposure to the crypto market and liquidate some of its assets. This has led to a massive sell-off of BUSD, which is pegged to the US dollar at a 1:1 ratio. BUSD holders have been scrambling to exchange their tokens for other stablecoins or fiat currencies, causing a huge drop in demand and price.
BUSD is not the only stablecoin that has been affected by Binance’s troubles. Other tokens that are backed by Binance’s reserves, such as BGBP, BEUR, and BIDR, have also seen significant declines in their market caps and trading volumes. Some analysts have warned that these stablecoins could become worthless if Binance goes bankrupt or shuts down.
The situation has raised serious questions about the reliability and security of stablecoins, especially those that are issued by centralized entities. Many crypto enthusiasts have argued that stablecoins should be decentralized and audited by independent third parties, to ensure their stability and trustworthiness.
Binance has not yet issued an official statement on the matter, but its CEO Changpeng Zhao (CZ) has tweeted that the exchange is working hard to resolve the issues and restore confidence in its services. He has also urged users to remain calm and patient, and not to panic sell their BUSD or other tokens.
However, many users have expressed their frustration and anger at Binance’s handling of the situation. Some have claimed that they have lost thousands of dollars due to Binance’s actions and have vowed to never use the exchange again. Others have called for legal action against Binance and CZ and have demanded compensation for their losses.
The future of BUSD and Binance remains uncertain at this point. It is unclear whether the exchange will be able to recover from this crisis, or whether it will face more regulatory scrutiny and legal challenges. It is also unknown how the crypto market will react to this development, and whether it will affect the adoption and innovation of stablecoins in general.
Call of Duty-style crypto video game ‘Shrapnel’ raises $20 million.
Shrapnel, a new video game that combines the thrill of Call of Duty with the innovation of crypto, has raised $20 million in a seed funding round led by some of the most prominent names in the gaming and blockchain industries.
Shrapnel is a first-person shooter game that allows players to earn, trade and spend cryptocurrency within the game world. The game uses a proprietary blockchain platform called Shrapnel Chain, which enables fast, secure and scalable transactions. Shrapnel Chain also supports smart contracts, NFTs and decentralized applications, opening up endless possibilities for players to create and customize their own in-game assets and experiences.
The game is developed by Shrapnel Studios, a team of veteran game developers who have worked on some of the most popular titles in the Call of Duty franchise. The team has partnered with several leading crypto companies, such as Polygon, Chainlink and Enjin, to leverage their expertise and technology in building Shrapnel’s blockchain ecosystem.
Shrapnel aims to revolutionize the gaming industry by offering a new level of immersion, engagement and monetization for players and developers alike. The game will feature a rich and diverse multiplayer mode, where players can compete in various modes and maps, as well as a single-player campaign, where players can explore the game’s lore and backstory. The game will also have a social hub, where players can interact with other players, trade items, join clans and participate in events.
Shrapnel is expected to launch in 2024 on PC, PlayStation 5 and Xbox Series X/S. The game will have a free-to-play model, with optional in-game purchases using the game’s native token, SHRAP. The token will also be available on major crypto exchanges and wallets. Shrapnel Studios plans to conduct a public sale of SHRAP tokens in the near future, as well as an NFT sale of exclusive in-game items and collectibles.
Shrapnel is one of the most ambitious and innovative projects in the gaming and crypto space and has attracted the attention and support of some of the most influential investors and advisors in both fields. Some of the notable names that participated in the seed funding round include:
Andreessen Horowitz: One of the most prestigious venture capital firms in Silicon Valley, known for backing companies such as Facebook, Twitter, Airbnb and Coinbase.
Animoca Brands: A leading global gaming company that focuses on blockchain, NFTs and gamification, known for developing games such as The Sandbox, F1 Delta Time and CryptoKitties.
Bitkraft Ventures: A venture capital firm that specializes in esports, gaming and digital entertainment, known for investing in companies such as Epic Games, Discord and BitPay.
Dapper Labs: A blockchain company that created Flow, a high-performance blockchain platform for games and entertainment, known for developing games such as NBA Top Shot, CryptoKitties and Dapper Wallet.
“We are thrilled to have such a stellar group of investors and advisors on board for Shrapnel. Their support and guidance will be invaluable as we work hard to deliver an amazing game that will redefine the gaming industry. We believe that Shrapnel will be the ultimate fusion of gaming and crypto, and we can’t wait to share it with the world.”