Tag: funding

Hong Kong, Singapore attracting increasing crypto VC funding

Over 11% of global VC funding in blockchain and crypto was funneled towards ventures based in Hong Kong and Singapore throughout 2023. The findings mark a significant rise from the mere 2% allocation in 2021.  That’s according to analysts at PitchBook who attributed this change to several factors, including the collapse of Sam Bankman-Fried’s FTX crypto exchange and the subsequent bankruptcy domino effect it created that compelled many U.S.-based crypto companies to reassess their strategies. According to the report, regulatory uncertainties and the effect of major crypto firms like Binance…

DeFi Protocol Grove Secures $7.9M in Funding for Business Expansion

Boosted by the news of the fundraising, the platform’s native token POKT experienced a notable increase over the past 24 hours.  In a significant move towards bolstering its decentralized finance (DeFi) operations, Grove, formerly known as Pocket Network Inc, has raised $7.9 million from prominent institutional investors, CoinDesk informed on Thursday. According to the report, citing an emailed statement, the investment round garnered support from major venture capital companies, including Fidelity-affiliated Avon Ventures, Placeholder Capital, and Druid Ventures. DeFi Protocol Grove to Expand Its Business Offerings The platform, which provides…

Cross-Chain Protocol Wormhole Secures $225M in Funding, Now Valued at $2.5B

The investment round was accompanied by the launch of Wormhole Labs, an independent technology company “emerging from stealth to become a core contributor to Wormhole.” Wormhole, a blockchain protocol designed to address the interoperability challenges of pioneer blockchain networks such as Bitcoin and Ethereum, has secured $225 million in funding, propelling the company’s total valuation to a new high of $2.5 billion. According to an official announcement on Wednesday, the cross-chain protocol revealed that notable investors, including Jump Trading, Brevan Howard, Coinbase Ventures, Multicoin Capital, ParaFi, Dialectic, Borderless Capital, and…

Oxford quantum computing spinout announces $100M funding round led by Japan’s SBI

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Oxford University physics spinout Oxford Quantum Circuits (OQC) recently announced the launch of Toshiko, a 32-qubit quantum computing services platform, alongside a $100-million Series B funding round led by Japan’s SBI Group’s investment arm. The company claims that Toshiko is the “world’s first enterprise ready quantum computing platform.” Great question! We are out of the lab and have deployed in colocation data centres, + there are multiple OQC Toshiko’s to serve enterprise data needs. We’ve detailed what makes our offering so unique in our whitepaper, which you can access here.https://t.co/lXBSOZcRiH…

Bitcoin’s Taproot Wizards secures $7.5m funding from Standard Crypto

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Bitcoin’s Taproot Wizards project received a fresh $7.5 million investment from Standard Crypto to transform the blockchain ecosystem and compete with major players like Ethereum and Solana. The Taproot Wizards project, known for its Bitcoin Ordinals initiative, has successfully raised $7.5 million in funding, spearheaded by VC firm Standard Crypto. Founded by Udi Wertheimer and Eric Wall, Taproot Wizards draws inspiration from a classic Bitcoin wizard meme that circulated on Reddit over 10 years ago. The project aims to reshape perceptions of the Bitcoin blockchain.  “We’ve always admired their s̶h̶i̶t̶p̶o̶s̶t̶i̶n̶g̶…

Blockchain.com Closes $110M Funding as Investors Show Renewed Interest in Cryptocurrency

A number of reputable investors participated in the Series E funding round, among them there were Lakestar, Lightspeed Venture Partners, Coinbase Ventures, and Baillie Gifford. Blockchain.com, a leading cryptocurrency exchange and wallet provider, recently raised $110 million in a Series E equity financing round that was led by UK-based Kingsway Capital. The latest investment comes despite the firm’s valuation falling below half of its previous $14 billion figure that it had earlier this year. Blockchain.com provides one of the biggest crypto exchange and wallet provider services in the world. The company…

Crypto hub Blockchain.com raises $110m in Series E funding

Blockchain.com’s latest funding reportedly leaves its valuation at less than half of its $14 billion back in 2022. Blockchain.com, the company behind a cryptocurrency wallet and an exchange, has raised $110 in a Series E funding round led by British investment firm Kingsway Capital. According to Bloomberg’s sources, the company’s latest funding left its valuation at less than “half of prior $14 billion” as the firm struggles to survive after it lent $270 million to the now defunct Three Arrows Capital (3AC) hedge fund. In addition to Kingsway, the London-headquartered…

Blockchain.com $110M funding round halves its 2022 valuation: Report

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Crypto exchange and wallet provider Blockchain.com closed a $110 million Series E financing round, an investment that more than halves its previous 2022 valuation of $14 billion. In a Nov. 14 blog post, Blockchain.com said the closing of its Series E round was led by the United Kingdom-based venture capital firm Kingsway Capital. It also saw participation from Baillie Gifford, Lakestar and Coinbase Ventures, among others. A Nov. 14 Bloomberg report citing sources familiar with the matter said the $110 million round places Blockchain.com at less than half of its…

Hong Kong’s crypto exchange OSL receives $90m in funding

BGX Group will invest 710 million HK in BC Technology Group, the parent company of Hong Kong’s first licensed crypto exchange, OSL.  BGX Group, a division of the Bitget exchange, has recently declared its intent to invest in BC Technology Group. This company is notably recognized as the parent corporation of OSL, Hong Kong’s first licensed digital currency exchange. BGX’s investment in BC Technology is particularly interesting because Shawn Liu, the founder of Bitget, currently holds the largest share in BC Technology. Earlier this week, Bitget withdrew its application to…