Animoca Brands, a venture capital firm, released an interim financial update that stated its assets totaled around $3.4 billion as of April 30, 2023. This report came just after rumors circulated that the company had faced financial issues. On March 24, Reuters reported that Animoca Brands had cut its valuation from $6 billion to $2 billion and the metaverse fund target had lowered to $800 million- both of which the company denied. The company had $194 million of cash and stablecoin balance and $566 million of liquid digital assets, as well as off-balance sheet tokens, totaling $2.7 billion.
Animoca Brands is confident in its financial stability and released an announcement that it was releasing additional financial updates. The audited financial statement for 2020 was the first of this, followed by financial and business highlights for 2022 and the first quarter of 2023. Co-founder of Animoca Brands, Yat Siu, stressed the importance of discerning the agenda of those anonymous sources. He acknowledged the possibility that news may have been exaggerated and encouraged readers to take it with a grain of salt.
Kraken, a crypto exchange, also made headlines recently when it collaborated with streamer Kitboga to create a fake crypto account to bait fraudsters. Kitboga, who is known for his content that annoys scammers, engaged in a wound up experience with someone who was impersonating President Joe Biden. Thanks to Kraken's custom environment, the prank was a success.
Gabriel Haines was also in the spotlight. Despite being relatively unknown, Haines became a celebrity online when he gained notoriety for his 'shirtless shitposting' and hunting crypto auto-tokens 'SBF' on the meme streets. Hall of Flame, a crypto-centric magazine, highlighted his persona and accomplishments.
Overall, Animoca Brands is still financially strong despite the recent rumors and is planning on releasing additional financial updates. On the other hand, Kraken has also been successful in setting up a fake crypto account to thwart scammers. Lastly, Gabriel Haines, dubbed the 'meme streets' outlaw, has been recognized for his creativity. Together, Animoca Brands, Kraken, and Gabriel Haines have added to the crypto-centered news cycle.
William Brown
- 2023-05-11
Animoca Brands, Kraken, and Gabriel Haines Make Crypto Headlines
Animoca Brands released an interim financial update showing $3.4 billion of assets. Meanwhile, Kraken collaborated with streamer Kitboga to create a fake crypto account to bait fraudsters. Lastly, Gabriel Haines was also in the spotlight as the 'meme streets' outlaw.
