Matrixport Seeks $100M in Funding – Bitcoin News

According to people familiar with the situation, the cryptocurrency company Matrixport Technologies is reportedly seeking funding in the amount of one hundred million dollars. According to our sources, the company has already secured commitments from investors for approximately $50 million


Matrixport is Attempting to Raise One Hundred Million Dollars From Strategic Investors
According to a story that was first reported by Bloomberg, the digital asset firm and cryptocurrency lender Matrixport is looking to raise one hundred million dollars from strategic investors. Jihan Wu, a billionaire and the former CEO of Bitmain, established the Singapore-based business in 2019. In addition to lending products and staking services for Ethereum 2.0, the operations of the financial services company include crypto earn programs.

According to sources cited by Bloomberg, Matrixport has reportedly already secured "commitments from lead investors for $50 million." According to the report, two of Matrixport's most dedicated backers are companies called Tiger Global and Dragonfly. Matrixport's market value could increase to $1.5 billion if it were to successfully raise another $50 million in capital.

Matrixport confirmed on Twitter that the company was in communication with potential investors and also shared the Bloomberg report. Matrixport stated in a tweet that they are "excited and look forward to engaging with participants, on similar terms," regarding the remaining half of the funding round. "We are extremely grateful for the trust and confidence that our investors continue to have in the Matrixport team."

During the month of August 2021, the company completed a Series C fundraising round and brought in a total of one hundred million dollars. As a result, the business was valued at one billion dollars at the time. DST Global, C Ventures, and K3 Ventures were the ones who spearheaded this round of funding. Ross Gan, who is in charge of public relations for Matrixport, stated that the company "routinely engages with key stakeholders as part of its normal course of business." This statement was made in reference to the newly acquired funding.

Orizu Ebube

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