Will stablecoins transform banking? register to find out
Can fresh funds keep crypto companies afloat?
When FTX announced it would acquire BlockFi for up to $240 million on Friday, June 1, glimmers of hope emerged for struggling Web3 startups that larger, more financially stable crypto companies would lend a hand.
After Celsius announced it would be freezing customer assets, Nexo expressed interest in buying Vauld to accelerate its presence in Asia. The struggling firm was one of the many lending companies that found itself affected by the downfall of Three Arrows Capital (3AC). Nexo will have 60 days to decide whether or not it will buy Vauld in full.
Last week, layer-1 blockchain protocol for peer-to-peer data transfer and transactions Rubix landed a $100 million investment from LDA Capital, an investment firm specializing in cross-border transactions.
“This funding will help us continue to innovate and fully realize our vision of creating a better, greener world through Web3. It opens doors for new partnerships, community engagements, and solutions built on top of the Rubix platform,” KC Reddy, chief architect and founder of Rubix told Blockworks in an email.
Early-stage gaming venture capital firm Konvoy, backed by Axie Infinity developer Sky Mavis, announced on Wednesday that it will launch a $150 million fund that will allow it to continue investing in blockchain games.
Although blockchain gaming remains a controversial space, attracting criticism from users for being profit-driven, according to Bloomberg, money continues to pour into the space. Among the latest rounds is Animoca Brands’ announcement that it will lead a $32 million Series A for Planetarium Labs, a startup building a community-driven Web3 game network. Republic Capital is also pouring $20 million into Oasys, an eco-friendly blockchain built for the gaming community.
Other notable capital raises of the past week:
Check back next week for more funding news.
Get the day’s top crypto nws and insights delivered to your inbox every evening. Subscribe to Blockworks’ free newsletter now.
DATE
Tuesday & Wednesday, September 13 & 14, 2022
LOCATION
The Glasshouse, 660 12th Avenue, NY, NY 10019
Web3 infrastructure-focused Mysten Labs is looking to raise $200 million in a Series B round led by FTX Ventures, and has already scored $140 million
The phishing campaign is part of a much wider hack and is not considered an exploit, according to several users and Uniswap’s founder
An influential survey shows 60% of respondents thought bitcoin could hit $10,000 before it recovers
Nearly a quarter of retail investors consider the cryptoasset class “garbage”
Tron’s Justin Sun says his protocol is “ready to serve” struggling crypto firms, but questions have emerged over his capacity to do so
Related Posts
