Slope Finance, the startup behind a digital wallet for the Solana blockchain, has closed an $8 million Series A funding round co-led by Solana Ventures and Jump Crypto. Slope management told CoinDesk the funds will help expand the team in the U.S., where Slope launched its first office last month, and for user-acquisition efforts. The KuCoin Community Chain (KCC) has unveiled a $50 million accelerator program aimed at empowering projects in its ecosystem. The program will finance initiatives such as a developers bounty, hackathons, incubation funds, liquidity support and listing recommendations, KCC announced Friday. The KCC is a public chain project built by developers in the crypto exchange KuCoin community. KuCoin's native token KCS is Ethereum-based and is one of many aimed at solving the problem of high gas fees (transaction fees) on the network. Holders of KCS (which stands for KuCoin Shares) receive a daily share of transaction fees accrued by the KuCoin blockchain asset exchange proportionate to the amount of tokens they hold. Fintech and digital payments giant Block reported better-than-expected 2021 fourth quarter results after the market closed on Thursday. Total revenue was $4.08 billion, up 29% year-over-year, narrowly topping the $4.04 billion analyst consensus. Excluding bitcoin, revenue totaled $2.12 billion, up 51% on the prior year. Adjusted EPS was $0.27 versus the $0.19 estimate. The peer-to-peer payment service Cash App, which allows users to directly buy and sell bitcoin, generated $1.96 billion of bitcoin transactions and $46 million of gross profit in Q4, up 12% and 14% year over year, respectively. For perspective, total company gross profit for Q4 was $1.18 billion. Coinbase (COIN) shares fell in postmarket trading Thursday as the company reported strong fourth-quarter results but said it expects some headwinds in the first quarter. Coinbase reported fourth-quarter revenue of $2.5 billion versus analyst estimates of $2.0 billion, while adjusted earnings per share came in at $3.32 , versus estimates of $1.94, according to FactSet. The company posted $2.3 billion in transaction revenue in the fourth quarter versus $1.1 billion in the third quarter.
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