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The cryptocurrency industry is attracting an increasing number of institutional players. This is evidenced by new investments in infrastructure and the growing interest of companies in bitcoin as
The cryptocurrency industry is attracting an increasing number of institutional players. This is evidenced by new investments in infrastructure and the growing interest of companies in bitcoin as an asset class. The most important events of the last weeks are in the ForkLog review.
Indonesia-based cryptocurrency exchange Pintu has raised $113 million in its Series B funding round.
Pantera Capital, Lightspeed India Partners, Intudo Ventures and Northstar Group all participated.
The company will use the funds raised to continue growth in Indonesia, developing DeFi services, NFT and staffing up to 200 people over the next two years.
Launched in April 2020, the Pintu exchange ranks in the top 3 local trading platforms competing with Indodax and Tokocrypto. The number of users exceeds 4 million.
The StarkWare project, which specializes in second-level scaling solutions, has completed a $100 million Series D funding round. Investors have valued the company at $8 billion.
The round was led by venture capital firms Greenoaks Capital and Coatue. Financing was also provided by the company’s new and existing investors, including Tiger Global. As part of the deal, StarkWare employees had the opportunity to sell their shares.
Founded in 2017, StarkWare offers two products focused on scaling Ethereum, StarkEx and StarkNet. The first is based on the SaaS model and enables decentralized applications to meet “special needs”. It uses platforms like dYdX and Sorare.
The second product is a permissionless solution on top of Ethereum based on Rollup. It allows developers to create and deploy their own smart contracts and interact with other applications.
The company will use the funds received from investors to expand its product line, develop business and create an ecosystem around StarkEx and StarkNet. StarkWare also plans to increase the headcount.
Cryptofinance services provider Babel Finance has closed its $80 million Series B funding round, raising the company’s valuation to $2 billion.
Leading investors were Generation Capital and 10T Holdings. The firm is also backed by Circle Ventures, a number of Southeast Asian family offices, and existing shareholders Dragonfly Capital and BAI Capital.
Babel Finance’s core businesses are crypto lending and trading, focused on serving institutional investors. The company has about 500 customers among them.
At the end of 2021, the firm recorded a balance of over $3 billion in outstanding loans, with an average monthly trading volume of $800 million in crypto-based derivatives.
According to the statement, Babel Finance is limiting operations to Bitcoin, Ethereum and stablecoins.
“In terms of short-term earnings, the retail market and altcoins may have higher profit margins, but we place more emphasis on the long-term development of the industry and strive to be a leader in institutional financial services and innovation,” Del Van said. , co-founder and CEO of the company.
This approach makes it possible not only to overcome market and regulatory uncertainties at an early stage in the development of the industry, but also to provide better protection for customers.
Startup Flowcarbon, co-founded by former WeWork CEO Adam Neumann, has raised $70 million to create a blockchain carbon loan market.
The round, which includes both venture capital financing and private token sales, was led by Andreessen Horowitz (a16z), a cryptocurrency. The startup was backed by General Catalyst, Samsung Next, Invesco Private Capital and other investors. Participants of the token sale were Fifth Wall, Box Group and Celo Foundation.
“Flowcarbon’s mission is to channel billions of dollars directly into projects that reduce or eliminate carbon emissions in the atmosphere by creating the first open protocol to signify certified carbon credits worldwide,” the company said.
The startup will provide project developers with direct access to the marketplace of buyers interested in their loans via the blockchain.
Flowcarbon’s first emissions-backed token will be an asset on the Celo network called the Goddess Nature Token (GNT).
Flowcarbon was founded by Adam Neumann and his wife, Rebecca, Dana Gibber (who took over as CEO), Caroline Klatt (COO) and Phil Vogel (Blockchain Director). The project team consists of 35 people.
Blockchain infrastructure provider InfStones has announced that it has raised $66 million in a new round of funding. It was managed by SoftBank through Vision Fund 2 and GGV Capital.
INCE Capital, 10T Fund, SNZ Holding and A&T Capital participated in the tour.
The team will use the funds raised to expand and scale the project. In particular, the supplier plans to increase the number of personnel, enter new markets and enter into new partnership agreements.
“Our vision is to provide a robust and easy-to-use Web 3.0 environment to create a more transparent and intelligent world. We aim to foster rapid and global adoption of decentralized applications,” said Zhenwu Shi, CEO of the firm.
InfStones raised $33 million in the Series B round in February 2021. According to a press release, the total funding since its inception has exceeded $100 million.
InfStones works on the principle of “platform as a service” (platform as a service, PaaS). The infrastructure is built on the basis of artificial intelligence, and the company’s customers include Binance, Coinlist, BitGo, OKX, Chainlink, Polygon and others.
Analyst firm Elliptic announced that it is pulling financial conglomerate JPMorgan as an additional investor in the Series C round.
The firm raised $60 million in October 2021. The lead investor was Evolution Equity Partners, with participation from SoftBank (through Vision Fund 2), AlbionVC, Wells Fargo, Santander and Octopus Ventures.
“This investment will help accelerate Elliptic’s global expansion and enable financial services institutions to harness the power of cryptocurrencies with increased confidence and confidence,” the press release says.
During its Series C round, Elliptic’s total funding reached $100 million, but the firm did not disclose its valuation.
Robo-advisor Delphia has closed its $60 million Series A funding round led by venture capital firm Multicoin Capital.
Tour participants include Ribbit Capital, FTX Ventures, Valor Equity Partners, FJ Labs, and others. According to the project, the total investment amount reached 80 million dollars.
The team will use the funds raised to launch an ERC-20 standard token to increase staff and incentivize users. Second, it will be able to provide personal data to the robo-advisor in exchange for an asset.
“Investing platform Delphia plans to use consumer spending data, employment patterns, and social media-derived public opinion data for algorithmic models that were previously only available to top-performing hedge funds,” the press release said.
According to the project, the tokens will be credited when the user connects apps on their phone that are “suitable to use in Delphia”. Data collected may include Amazon purchase history, credit card transactions, LinkedIn, Venmo, and other information.
Singapore-based digital securities trading platform ADDX has raised $58 million in a pre-Series B funding round.
Investors include United Overseas Bank, SET Venture Holding, Hamilton Lane and others.
The funds received will be used to expand the geography of the company and its further development.
To date, the platform has raised about $120 million in total.
Metaverse startup Bud has closed its $36.8 million Series B funding round led by Sequoia Capital India.
Participants in the round were ClearVue Partners, NetEase, Northern Light Venture Capital, as well as existing investors GGV Capital, Qiming Venture Partners and Source Code Capital.
The total amount of funds received by the project exceeded $60 million.
The Singapore-based startup was founded in 2019 by two former Snap engineers, Risa Feng and Sean Lin. They position the app as a metaverse social platform that allows players to create and share virtual 3D items. According to BUD, the number of gaming products transactions has exceeded 150 million since launch.
Proceeds will be used to develop tools to create game items, expand the user base, and distribute Web3 products for the Metaverse ecosystem.
The company also plans to open its own NFT market. The BUD team did not disclose what network and tokens it is using for the solution, which will be released “soon”.
NEAR-backed decentralized exchange Orderly Network has raised $20 million from strategic investors.
Participants in the round were: Three Arrows Capital, Pantera Capital, Dragonfly Capital, Sequoia China, Jump Crypto, Alameda Research, GSR Ventures, MetaWeb.VC and a number of other companies.
The project was founded in 2017 and has passed the NEAR and WOO Network incubators. With the help of the latter, the startup launched the first decentralized application in the form of a trading platform user interface.
Orderly Network offers spot trading, margin trading, perpetual swaps and a lending service.
The startup will direct funding to hire new employees, expand its product line, and uplift existing employees.
The team plans to launch public loan pools to further increase liquidity. Orderly Network said that token holders will be able to lend to market makers through them and earn a stable return.
The WAX Studios team behind the Worldwide Asset eXchange (WAX) blockchain has raised over $10 million from the investment arm of the OKX bitcoin exchange.
The funds raised will be used to improve the functionality of the NFT. P2E-WAX powered games, improvement of game tokens and updating of WAX Cloud Wallet.
According to VentureBeat, the number of daily transactions in the project network has exceeded 23 million.
Founded in 2017, WAX Studios has a team of over 100 employees.
OKX Blockdream Ventures is a $100 million fund focused on scaling blockchain projects.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
