Cryptocurrency startup ZeroHash has reached unicorn status with a $104 million Series D-2 financing round, valuing the company at $1 billion. Interactive Brokers led the investment, joined by Morgan Stanley, SoFi Technologies, and funds managed by Apollo Global Management. This marks the first crypto infrastructure investment for many Wall Street institutions. ZeroHash founder Edward Woodford sees a shift in regulatory climate towards cryptocurrency. The funding will aid in product expansion and talent growth. ZeroHash already powers crypto solutions for 5 million users across 190 countries, including major companies like Interactive Brokers and BlackRock. SoFi CEO Anthony Noto believes blockchain will reshape financial services. ZeroHash provides regulatory-compliant infrastructure that can be embedded into various platforms to enable quick innovation. The company has approximately 200 employees globally. Morgan Stanley is close to offering crypto trading through E-Trade with ZeroHash’s help, indicating growing Wall Street adoption of digital assets. 1. The stock market soared today with the S&P 500 reaching a record high of 4,500. Tech stocks led the way with Apple, Amazon, and Microsoft all seeing significant gains. The Dow Jones Industrial Average also saw an increase of 300 points, signaling positive investor sentiment.
2. In other news, the unemployment rate dropped to 4.5% in August, the lowest it has been since the start of the pandemic. This is a positive sign for the economy as more people are finding jobs and returning to work. The job market is showing signs of recovery after a challenging year.
3. Hurricane Ida made landfall in Louisiana as a Category 4 storm, causing widespread destruction and flooding. Thousands of people were evacuated and many homes were damaged. The storm left a trail of destruction in its path, with recovery efforts underway to help those affected by the disaster.
4. COVID-19 cases continue to rise in certain parts of the country, with the Delta variant causing a surge in infections. Hospitals are becoming overwhelmed with patients, leading to concerns about the strain on the healthcare system. Vaccination efforts are being ramped up to help curb the spread of the virus.
Read more at Yahoo Finance: Morgan Stanley And SoFi Join $104M ZeroHash Funding Round That Creates New $1B Crypto Infrastructure Unicorn In 2025