The cryptocurrency industry is attracting an increasing number of institutional players. This is evidenced by new investments in infrastructure, and the increasing attention that companies are showing to bitcoin as an asset class. The most important events of recent weeks are in the Cryplogger review.
Ethereum startup Scroll raises $50M at $1.8B valuation
Scroll, a tier-two network for scaling Ethereum using ZK-Rollups technology, has raised $50M in a recent funding round.
Investors include Polychain Capital, Sequoia China, Bain Capital Crypto, Moore Capital Management, Variant Fund, Newman Capital, IOSG Ventures and Qiming Venture Partners.
Scroll representatives declined to disclose the structure of the round and name the final evaluation of the company. The startup will use the proceeds to launch the mainnet and expand the ecosystem.
Scroll co-founder Sandy Peng said that in the near future the project will increase the team from 60 to 100 people. According to him, in total, the network has 1 million unique addresses that have made 16 million transactions.
Lionel Messi’s company invested in a football Web3 startup
Football Web3 startup Matchday has raised $21 million in seed funding.
One of the investors was the venture capital company of the famous football player Lionel Messi – Play Time. The round also included Courtside Ventures, Greylock, HackVC, Capricorn Investment Group and Horizons Ventures.
Matchday is developing sports computer games. Co-founder and CEO of the company Derrick Koe explained that their projects will be focused on “ordinary” users.
The company has an official license from the International Football Federation and the Association of Professional Players FIFPRO.
Startup to check the solvency of crypto companies raised $15.8 million
The Proven project raised $15.8 million in a seed funding round led by venture capital firm Framework Ventures. Other investors include Balaji Srinivasan, Roger Chen and Ada Yeoh.
The startup is developing a zero-knowledge proof-based technology that aims to help crypto companies prove their solvency without having to hand over sensitive information.
“The last few months have brought to light an issue that has been troubling finance companies and crypto firms for a long time. It is the absence of an effective and confidential way to build customer trust,” said project co-founder Richard Dewey.
He added that the new development will increase the authority of cryptocurrency platforms among users and regulators, while protecting their personal information.
The startup’s clients include the Coinlist, Bitso, TrueUSD and M11 Credit platforms. Proven will use the raised funds to expand the staff and develop the technological infrastructure.
Coinbase Supports Compliance-Oriented Non-custodial Exchange Mauve
Coinbase VC, Brevan Howard and other investors have invested $15 million in Mauve, a non-custodial exchange that has compliance procedures.
The developer of the new platform is the Violet project, which specializes in identity infrastructure and decentralized finance.
“Mauve is a direct response to the implications of FTX,” said co-founder Markus Maier.
According to him, the collapse of the business empire of Sam Bankman-Fried undermined the credibility of cryptocurrencies at the global level. Maier is convinced that the future of the industry depends on the continued adoption of non-custodial products like Mauve.
The new DEX requires users to pass “strict compliance checks”. According to the developers, this approach is designed to give confidence to users moving from centralized platforms to DeFi.
KuCoin Invests in Offshore Yuan-Based Stablecoin Issuer
The venture arm of crypto exchange KuCoin has led a funding round for the issuer of the stablecoin CNHC, pegged to the value of the offshore yuan.
According to CoinDesk, the project has raised $10 million. Among the other participants in the investment round are Circle Ventures and IDG Capital.
According to the company’s chief investment officer Justin Chow, with its digital asset-friendly policy, Hong Kong has “a real opportunity to become the new global crypto center.”
CNHC is issued on the Ethereum and Conflux networks. According to on-chain data, the first has 23 stablecoin holders and 102 transfers, while the second has 607 and 1489, respectively.
Actress Gwyneth Paltrow backs Web3 platform Wild in a $7 million round
Digital art-focused Web3 platform Wild has raised $7 million in seed funding.
It was led by Matrix Partners with Gwyneth Paltrow, LinkedIn co-founder Reid Hoffman, Twitch COO Kevin Lin and Cozomo de’ Medici. This pseudonym is used by American rapper Snoop Dogg.
According to Wild founder Douglas Cobs, the platform aims to bring artists together and help them release NFTs. Artists will be able to take a special course on creating non-fungible tokens from leading experts in this field.
The company also introduced a membership subscription called Wild Oasis. It provides early access to auctions and a customized discount program.
A total of 1,000 “passes” will be available and will be minted as NFTs. 300 of them have already been distributed to the artists who participated in testing the platform, consultants, investors and the founding team.
Wild uses the funds received to develop its infrastructure and finance project participants.
Bitcoin-based decentralized exchange Alex raises $2.5 million in investments
Trust Machines, Gossamer Capital and other investors have invested $2.5 million in the development of the Alex decentralized exchange based on the first cryptocurrency.
The project team will use the funds raised to develop the ecosystem and expand the user community.
The Hiro Wallet browser wallet is required to use the platform. In addition to the decentralized exchange of funds, Alex also provides opportunities for profitable farming.
DeFiance Capital raises ‘eight-figure’ investment
Venture capital firm DeFiance Capital has raised an “eight figure” investment.
According to sources from The Block, the company held the first close of its $100 million “liquid token fund,” helped by a “good mix of investors” in the form of other crypto funds, family offices, and private savers.
DeFiance Capital was founded in 2020 in Singapore by Arthur Chan. Previously, the company positioned itself as a “sub-fund” of Three Arrows Capital (3AC) going through bankruptcy proceedings.
In July 2022, DeFiance distanced itself from 3AC and announced its operational independence.
Arthur Cheng’s venture capital firm first announced it had raised $100 million for its “liquid token fund” last September. Then DeFiance managed to raise almost half of the amount.
According to some reports, part of the company’s liabilities were reduced after the collapse of FTX, but the fund still managed to close the first tranche and start investing.
Also on Cryplogger:
- CoinGecko: investments in DeFi projects increased by 190%.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
The cryptocurrency industry is attracting an increasing number of institutional players. This is evidenced by new investments in infrastructure, and the increasing attention that companies are showing to bitcoin as an asset class. The most important events of recent weeks are in the Cryplogger review.
Ethereum startup Scroll raises $50M at $1.8B valuation
Scroll, a tier-two network for scaling Ethereum using ZK-Rollups technology, has raised $50M in a recent funding round.
Investors include Polychain Capital, Sequoia China, Bain Capital Crypto, Moore Capital Management, Variant Fund, Newman Capital, IOSG Ventures and Qiming Venture Partners.
Scroll representatives declined to disclose the structure of the round and name the final evaluation of the company. The startup will use the proceeds to launch the mainnet and expand the ecosystem.
Scroll co-founder Sandy Peng said that in the near future the project will increase the team from 60 to 100 people. According to him, in total, the network has 1 million unique addresses that have made 16 million transactions.
Lionel Messi’s company invested in a football Web3 startup
Football Web3 startup Matchday has raised $21 million in seed funding.
One of the investors was the venture capital company of the famous football player Lionel Messi – Play Time. The round also included Courtside Ventures, Greylock, HackVC, Capricorn Investment Group and Horizons Ventures.
Matchday is developing sports computer games. Co-founder and CEO of the company Derrick Koe explained that their projects will be focused on “ordinary” users.
The company has an official license from the International Football Federation and the Association of Professional Players FIFPRO.
Startup to check the solvency of crypto companies raised $15.8 million
The Proven project raised $15.8 million in a seed funding round led by venture capital firm Framework Ventures. Other investors include Balaji Srinivasan, Roger Chen and Ada Yeoh.
The startup is developing a zero-knowledge proof-based technology that aims to help crypto companies prove their solvency without having to hand over sensitive information.
“The last few months have brought to light an issue that has been troubling finance companies and crypto firms for a long time. It is the absence of an effective and confidential way to build customer trust,” said project co-founder Richard Dewey.
He added that the new development will increase the authority of cryptocurrency platforms among users and regulators, while protecting their personal information.
The startup’s clients include the Coinlist, Bitso, TrueUSD and M11 Credit platforms. Proven will use the raised funds to expand the staff and develop the technological infrastructure.
Coinbase Supports Compliance-Oriented Non-custodial Exchange Mauve
Coinbase VC, Brevan Howard and other investors have invested $15 million in Mauve, a non-custodial exchange that has compliance procedures.
The developer of the new platform is the Violet project, which specializes in identity infrastructure and decentralized finance.
“Mauve is a direct response to the implications of FTX,” said co-founder Markus Maier.
According to him, the collapse of the business empire of Sam Bankman-Fried undermined the credibility of cryptocurrencies at the global level. Maier is convinced that the future of the industry depends on the continued adoption of non-custodial products like Mauve.
The new DEX requires users to pass “strict compliance checks”. According to the developers, this approach is designed to give confidence to users moving from centralized platforms to DeFi.
KuCoin Invests in Offshore Yuan-Based Stablecoin Issuer
The venture arm of crypto exchange KuCoin has led a funding round for the issuer of the stablecoin CNHC, pegged to the value of the offshore yuan.
According to CoinDesk, the project has raised $10 million. Among the other participants in the investment round are Circle Ventures and IDG Capital.
According to the company’s chief investment officer Justin Chow, with its digital asset-friendly policy, Hong Kong has “a real opportunity to become the new global crypto center.”
CNHC is issued on the Ethereum and Conflux networks. According to on-chain data, the first has 23 stablecoin holders and 102 transfers, while the second has 607 and 1489, respectively.
Actress Gwyneth Paltrow backs Web3 platform Wild in a $7 million round
Digital art-focused Web3 platform Wild has raised $7 million in seed funding.
It was led by Matrix Partners with Gwyneth Paltrow, LinkedIn co-founder Reid Hoffman, Twitch COO Kevin Lin and Cozomo de’ Medici. This pseudonym is used by American rapper Snoop Dogg.
According to Wild founder Douglas Cobs, the platform aims to bring artists together and help them release NFTs. Artists will be able to take a special course on creating non-fungible tokens from leading experts in this field.
The company also introduced a membership subscription called Wild Oasis. It provides early access to auctions and a customized discount program.
A total of 1,000 “passes” will be available and will be minted as NFTs. 300 of them have already been distributed to the artists who participated in testing the platform, consultants, investors and the founding team.
Wild uses the funds received to develop its infrastructure and finance project participants.
Bitcoin-based decentralized exchange Alex raises $2.5 million in investments
Trust Machines, Gossamer Capital and other investors have invested $2.5 million in the development of the Alex decentralized exchange based on the first cryptocurrency.
The project team will use the funds raised to develop the ecosystem and expand the user community.
The Hiro Wallet browser wallet is required to use the platform. In addition to the decentralized exchange of funds, Alex also provides opportunities for profitable farming.
DeFiance Capital raises ‘eight-figure’ investment
Venture capital firm DeFiance Capital has raised an “eight figure” investment.
According to sources from The Block, the company held the first close of its $100 million “liquid token fund,” helped by a “good mix of investors” in the form of other crypto funds, family offices, and private savers.
DeFiance Capital was founded in 2020 in Singapore by Arthur Chan. Previously, the company positioned itself as a “sub-fund” of Three Arrows Capital (3AC) going through bankruptcy proceedings.
In July 2022, DeFiance distanced itself from 3AC and announced its operational independence.
Arthur Cheng’s venture capital firm first announced it had raised $100 million for its “liquid token fund” last September. Then DeFiance managed to raise almost half of the amount.
According to some reports, part of the company’s liabilities were reduced after the collapse of FTX, but the fund still managed to close the first tranche and start investing.
Also on Cryplogger:
- CoinGecko: investments in DeFi projects increased by 190%.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
