Tag: funding

Private Blockchain Project Funding Accelerates as Companies Race to Address New Needs – Bitcoin News

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Blockchain operations are increasingly embracing more traditional financing from big-name venture funds to leverage these strategic stakeholders’ benefits instead of crowdfunding avenues popularized during the last blockchain hype wave. Funding Roundup: Concordium, StakeWise, and Automata Reveal Private Capital from Leading Funds In a significant departure from the last crypto startup wave focused on raised public capital in the form of initial coin offerings (ICO), token sales, and exchange launches, today’s advancing blockchain initiatives are increasingly tapping private capital from venture funds. Though the sums awarded aren’t eclipsing the billions raised…

Australian green energy Bitcoin mining firm doubles pre-IPO funding round

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Iris Energy, an Australian firm that invests in Bitcoin (BTC) mining data centers powered by renewable energy sources, has doubled its second pre-initial public offering round. According to Bloomberg, a 13 million Australian dollar ($10 million) commitment from equity manager outfit Platinum Asset Management has seen Iris increase its second pre-IPO target to 40 million Australian dollars ($31 million) from the initial 20 million Australian dollars set earlier in mid-February. As reported by Financial Review back in December 2020, the Bitcoin miner secured $19.5 million in equity funding and $3.9 million…

Kraken seeks $10B+ valuation in new funding round: Report

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Major U.S.-based crypto exchange Kraken is reportedly in talks for a new funding round that could double the company’s valuation to $10 billion, or more. The raise was reported by Bloomberg, who cited anonymous sources claiming Kraken is in discussions with top investors including, Fidelity, Tribe Capital, and General Atlantic. One of the sources estimated Kraken’s valuation could soar as high as $20B billion depending on demand. In 2019, Kraken used the crypto-friendly investment platform Bnk to the Future to raise $13.5 million from more than 2,000 participants at a…

Optimism Raises $25 Million in Series A Funding Round

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The raised funds will see the larger share going into this development that seeks to ensure that transactions are 10x improved with the L1 development experience preserved. Andreessen Horowitz (A16Z), a venture capital firm has led a Series A funding round to raise about $25 million for Optimism, a public benefit corporation that concentrates on the scalability of the Ethereum Network. The firm has over some months been actively working on its Optimistic Rollup project. According to the blog post published by the supporting platform, A16Z, they are excited to…

DeFi exchange protocol DFX raises $5M in seed funding

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Veteran cryptocurrency investor Polychain Capital has joined a funding round in DFX Finance, a new decentralized finance exchange protocol optimized for non-U.S. dollar stablecoins. DFX raised more than $5 million in seed funding from Polychain and True Ventures to create a new blockchain-powered market for stablecoins and open up DeFi applications to a global audience. Announcing the news Wednesday, DFX said that other investors included industry players like Hex Capital, CMS Holdings, Castle Island Ventures, and DeFi Alliance. DFX is currently being developed by contributors from major crypto projects and…

Async programmable art platform secures over $2M in seed funding

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Async Art, a Silicon Valley nonfungible token platform, has secured over $2 million in seed funding from at least 10 investors, highlighting the growing value proposition of programmable art.  The company announced the new raise on Wednesday, highlighting Async’s rapid growth since its February 2020 launch. In its first year of operations, Async generated over $1 million in art sales and launched a smart TV app to display digital art. Although the company didn’t specify how it would use the funds, it indicated that onboarding new users and creating new…

Blockchain.com raises $120M funding round to grow institutional business

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Several notable macro investment funds joined the round, including Moore Strategic Ventures, Access Ventures, Rovida Advisors, Lightspeed Venture Partners, Google’s investment spin-off GV, Lakestar, Eldridge, Hayman Capital’s Kyle Bass and others. The funding will be used to bolster Blockchain.com’s growing Institutional Markets business. The company recently expanded its suite and began offering crypto custody, trade execution and lending services tailored for institutional investors. Blockchain.com’s main business was a multi-cryptocurrency wallet, which processed 28% of all Bitcoin (BTC) transactions, the company says. Since then, the company has launched an exchange and…

Synthetix Raised $12M in Funding Round Led by Coinbase Ventures and Paradigm

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The fundraising round of Synthetix is the first time when the project directly governed by a DAO raises funds. Investing in Synthetix, Coinbase Ventures, Paradigm, and IOSG are bringing something valuable to the project.  One of the largest token trading platforms Synthetix has raised as much as $12 million from Coinbase Ventures, Paradigm, and IOSG. According to the company, it will use the funds to provide liquidity as SNX collateral through the purchase of SNX tokens that will “participate in its rapidly evolving community governance system”. Paradigm investment partner Arjun…

DeFi Platform Celo Raises $20M in New Funding Round, Launches Payment App Valora

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One of the hallmarks of the achievement of the cLabs, the development arm of Celo, is the launch of the Valora app, the first mobile peer-to-peer payments and remittance app built on the Celo platform. Decentralized Finance (DeFi) payments platform Celo has announced a successful $20 million fundraiser, bringing the total funds raised by the startup to $65 million. According to the official announcement, the latest funding round was backed by Andreessen Horowitz (a16z), Greenfield One, and Electric Capital. These latest investors join Celo’s earlier investors such as Coinbase Ventures…

Solana announces DeFi hackathon offering $200k in seed funding

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Solana has announced an upcoming DeFi hackathon offering $200,000 in seed funding from the Solana Foundation. The hackathon, which is scheduled to take place from Feb. 15 through March 1st, will be hosted in partnership with Sam Bankman-Fried of FTX’s Project Serum. Bankman-Fried will also offer mentorship to hackathon participants alongside Solana CEO Anatoly Takovenko. Bankman-Fried stated: “A lot of an ecosystem’s success depends on how much the community builds on it. I’ve been really happy with the growth of Solana so far building out the world’s fastest, most scalable…