{"id":14378,"date":"2024-06-15T20:31:27","date_gmt":"2024-06-15T17:31:27","guid":{"rendered":"https:\/\/forklog.com\/en\/institutional-bulletin-avail-raises-43-million-the-sandbox-secures-20-million\/"},"modified":"2024-06-15T20:31:27","modified_gmt":"2024-06-15T17:31:27","slug":"institutional-bulletin-avail-raises-43-million-the-sandbox-secures-20-million","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/institutional-bulletin-avail-raises-43-million-the-sandbox-secures-20-million\/","title":{"rendered":"Institutional Bulletin: Avail Raises $43 Million, The Sandbox Secures $20 Million"},"content":{"rendered":"<p>The cryptocurrency industry continues to attract a growing number of institutional players. This is evidenced by new investments in infrastructure and the increasing attention companies are paying to bitcoin as an asset class. ForkLog reviews the most significant events of recent weeks.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Modular Blockchain Avail Raises $43 Million<\/strong><\/h2>\n<p>The team behind the modular blockchain Avail <a href=\"https:\/\/x.com\/AvailProject\/status\/1797978214284808610\" title=\"\">closed<\/a> a Series A funding round, securing $43 million. The total investment in the project has reached $75 million.<\/p>\n<p>The round was led by Founders Fund, Dragonfly Capital, and Cyber Fund, with participation from SevenX Ventures, Figment Capital, Nomad Capital, Chapter One, Foresight Ventures, Mirana Ventures, KR1, Alliance, and Hashkey Capital.<\/p>\n<p>According to <a href=\"https:\/\/www.theblock.co\/post\/298374\/peter-thiel-founders-fund-series-a-avail\">The Block<\/a>, Avail currently employs 50 people. The funds raised will be used, among other things, to expand the team.<\/p>\n<h2 class=\"wp-block-heading\"><strong>DeFi Protocol M^0 Raises $35 Million<\/strong><\/h2>\n<p>The decentralized protocol for minting stablecoins, M^0, closed a Series A funding round, raising $35 million.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">?The M^0 project secured $35M in Series A funding to advance its cryptodollar issuance network. Led by <a href=\"https:\/\/twitter.com\/BainCapCrypto?ref_src=twsrc%5Etfw\">@BainCapCrypto<\/a> with support from top-tier investors, this milestone coincides with the deployment of the M^0 core protocol &#038; governance mechanism on <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&#038;ref_src=twsrc%5Etfw\">#Ethereum<\/a> <a href=\"https:\/\/t.co\/R9dJshX6tD\">pic.twitter.com\/R9dJshX6tD<\/a><\/p>\n<p>\u2014 M^0 Labs (@m0labs) <a href=\"https:\/\/twitter.com\/m0labs\/status\/1798384505499386034?ref_src=twsrc%5Etfw\">June 5, 2024<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The round was led by Bain Capital Crypto, with participation from Galaxy Ventures, Wintermute Ventures, GSR, Caladan, SCB 10X, and other investors.<\/p>\n<p>M^0 Foundation President Luca Prosperi told <a href=\"https:\/\/www.theblock.co\/post\/298611\/bain-capital-crypto-m0-stablecoin-protocol-funding\">The Block<\/a> that the Ethereum-based mainnet of the protocol is planned to launch in the coming weeks.<\/p>\n<h2 class=\"wp-block-heading\"><strong>ZK Startup Nexus Labs Raises $25 Million<\/strong><\/h2>\n<p>The zero-knowledge proof-based startup Nexus Labs closed a Series A funding round, raising $25 million.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/ We\u2019re excited to announce a $25M Series A round co-led by <a href=\"https:\/\/twitter.com\/lightspeedvp?ref_src=twsrc%5Etfw\">@lightspeedvp<\/a> and <a href=\"https:\/\/twitter.com\/PanteraCapital?ref_src=twsrc%5Etfw\">@PanteraCapital<\/a>, with participation from <a href=\"https:\/\/twitter.com\/dragonfly_xyz?ref_src=twsrc%5Etfw\">@dragonfly_xyz<\/a>, and more, to bring zero-knowledge proofs to the fabric of the Internet.<\/p>\n<p>We\u2019re scaling the Nexus 1.0 zkVM to 1 trillion Hz of compute capacity. <a href=\"https:\/\/t.co\/Imwrlqlik7\">pic.twitter.com\/Imwrlqlik7<\/a><\/p>\n<p>\u2014 Nexus (@NexusLabsHQ) <a href=\"https:\/\/twitter.com\/NexusLabsHQ\/status\/1800324588116860933?ref_src=twsrc%5Etfw\">June 11, 2024<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The round was led by Lightspeed Venture Partners and Pantera Capital, with participation from Dragonfly, Faction, and Blockchain Builders Fund.<\/p>\n<p>The startup aims to make the internet more private, secure, and reliable.<\/p>\n<p>The funds raised will be used to develop the Nexus ecosystem, the open-source Nexus 1.0 protocol, and to expand the scientific and technical team.<\/p>\n<h2 class=\"wp-block-heading\"><strong>The Sandbox Metaverse Raises $20 Million<\/strong><\/h2>\n<p>The team behind the metaverse The Sandbox closed a funding round, raising $20 million with the support of Web3 gaming operator Animoca Brands.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Our subsidiary <a href=\"https:\/\/twitter.com\/TheSandboxGame?ref_src=twsrc%5Etfw\">@TheSandboxGame<\/a>, a leading user-generated content (UGC) <a href=\"https:\/\/twitter.com\/hashtag\/metaverse?src=hash&#038;ref_src=twsrc%5Etfw\">#metaverse<\/a> platform, has announced that it has raised US$20 million of convertible promissory notes with a US$1 billion valuation cap. <a href=\"https:\/\/t.co\/G0tljR5zb8\">https:\/\/t.co\/G0tljR5zb8<\/a><\/p>\n<p>\u2014 Animoca Brands (@animocabrands) <a href=\"https:\/\/twitter.com\/animocabrands\/status\/1798958066873856336?ref_src=twsrc%5Etfw\">June 7, 2024<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Investments were also provided by Kingsway Capital, LG Tech Ventures, and True Global Ventures.<\/p>\n<p>The funds raised will be used to update the 3D editor tools Game Maker and VoxEdit, introduce new social interactions and avatar capabilities, expand gameplay options, and develop a mobile version, which is planned for launch in 2025.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Crypto Exchange BITAI Raises $20 Million<\/strong><\/h2>\n<p>The cryptocurrency exchange BITAI closed a seed funding round, raising $20 million.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">??BITAI Raises $20 Million in Seed Funding Led by First Round\u203c\ufe0fBITAI, a Web3-based AI intelligent crypto exchange, has completed a $20 million seed funding round led by First Round. Jump Crypto and Dragonfly also participated. <br \/>\u2705The funds raised will be used to advance the\u2026 <a href=\"https:\/\/t.co\/SH7jCH875G\">pic.twitter.com\/SH7jCH875G<\/a><\/p>\n<p>\u2014 BITAI (@BITAIOFFICIAL) <a href=\"https:\/\/twitter.com\/BITAIOFFICIAL\/status\/1800900632091795559?ref_src=twsrc%5Etfw\">June 12, 2024<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The round was led by First Round, with participation from Jump Crypto and Dragonfly Capital.<\/p>\n<p>The funds raised will be used to develop the trading platform, which utilizes artificial intelligence.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Tether Invests $18.75 Million in Crypto Exchange XREX<\/strong><\/h2>\n<p>The issuer of the USDT stablecoin, Tether, has invested $18.75 million in the cryptocurrency exchange XREX, as reported by <a href=\"https:\/\/www.theblock.co\/post\/298357\/tether-xrex-investment\">The Block<\/a>.<\/p>\n<p>The funds raised will be used to simplify cross-border payments between businesses in emerging markets using USDT.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cOur collaboration with XREX initiates several pioneering initiatives, including the launch of a unique new unified stablecoin from Unitas Foundation and facilitating cross-border payments based on USDT,\u201d said Tether CEO Paolo Ardoino.<\/cite><\/p><\/blockquote>\n<p>XREX Group CEO Wayne Huang noted that the collaboration between the two companies will help law enforcement \u201cidentify, arrest, and prosecute criminals.\u201d<\/p>\n<p>Also on ForkLog:<\/p>\n<ul class=\"wp-block-list\">\n<li>Paris AI startup Mistral AI raised \u20ac600 million.<\/li>\n<li>Tether to invest over $1 billion in the next 12 months.<\/li>\n<li>Binance forms alliance to support Web3 startups.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency industry continues to attract a growing number of institutional players. This is evidenced by new investments in infrastructure and the increasing attention companies are paying to bitcoin as an asset class. ForkLog reviews the most significant events of recent weeks. Modular Blockchain Avail Raises $43 Million The team behind the modular blockchain Avail [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14377,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1233,1242],"class_list":["post-14378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-industry-digests","tag-institutional-bulletin"],"aioseo_notices":[],"amp_enabled":true,"views":"30","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=14378"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14378\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/14377"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=14378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=14378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=14378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}