The cryptocurrency industry is drawing an increasing number of institutional players. This is evident in both new investments in infrastructure and the growing attention companies are giving Bitcoin as an asset class. The most important developments of the past weeks are in ForkLog’s briefing.<\/p>\n
The New York Digital Investment Group (NYDIG), aimed at institutional clients, raised $1 billion<\/a>, closing a record round for the industry. Investors valued the company at $7 billion.<\/p>\n The round was led by WestCap. Participants included Bessemer Venture Partners, FinTech Collective, and those that had previously backed NYDIG, including Affirm, FIS, Fiserv, MassMutual, Morgan Stanley and New York Life.<\/p>\n The institutional-client-focused crypto bank Anchorage raised $350 million<\/a> in a Series D at a $3 billion valuation. It was led by KKR.<\/p>\n Financing was also provided by Goldman Sachs, Andreessen Horowitz, Alameda Research, Apollo, Wellington Management, BlackRock, Blockchain, Kraken and PayPal Ventures.<\/p>\n The funds will be used for international expansion and to support banks and corporations in creating crypto products for clients.<\/p>\n DeFi project 1inch Network closed a Series B round<\/a> of $175 million. It was led by Amber Group with about 50 investors. Among them were VanEck, Fenbushi Capital, Alameda Research, Celsius, Nexo and Gemini Frontier Fund.<\/p>\n The funds will be used to develop new protocols, create additional features for the 1INCH token, expand staff, and improve 1inch to meet regulatory requirements for DeFi projects in Europe and the United States.<\/p>\n The Zepeto metaverse platform from NAVER Corporation raised $150 million<\/a> from SoftBank in a Series B financing round.<\/p>\n Users of the virtual world create three-dimensional avatars and can interact with one another, attend events and purchase digital items, including Gucci and Ralph Lauren clothing.<\/p>\n The valuation of Zepeto surpassed $1 billion.<\/p>\n The Lydia payment app raised $100 million<\/a> in a Series C round. The startup’s valuation exceeded $1 billion.<\/p>\n Existing investors Tencent, Accel and Founders Future participated alongside new investors Dragoneer and Echo Street.<\/p>\n The app’s user base stands at 5.5 million users.<\/p>\n The funds will be used to expand the team to 800 people over the next three years and to grow its European audience to 10 million active customers by 2025.<\/p>\n Security-auditing-focused startup CertiK raised $80 million<\/a> in a Series B2 round. It was led by Sequoia Capital China.<\/p>\n Tiger Global, Coatue Management and GL Ventures also participated. Total investments surpassed $140 million, and the startup’s valuation approached $1 billion.<\/p>\n Analytics company Nansen raised $75 million<\/a> in a Series B round led by Accel. Participants included GIC, Andreessen Horowitz, Tiger Global, SCB 10X and other venture investors.<\/p>\n The funds will be used to build and develop new products, hire staff, and broaden global presence through innovative features and multi\u2011chain integrations.<\/p>\n Kraken Ventures raised $65 million<\/a> in its first fund, which will invest in crypto and technology startups at early stages.<\/p>\n The firm has already backed Blockdaemon, Anchorage, Messari, Hashflow, Acala, pStake and others. The fund targets initial investments ranging from $500,000 to $2 million.<\/p>\n Blockchain analytics firm TRM Labs raised $60 million<\/a> in a Series B round led by Tiger Global.<\/p>\n Participants included Visa, PayPal Ventures, Block (formerly Square), Jump Capital, DRW Venture Capital, Marshall Wace, Citi Ventures, Amex Ventures and others.<\/p>\n Lambda256, the blockchain division of Upbit operator Dunamu, raised $60 million<\/a> in a Series B round. The company\u2019s valuation surpassed $300 million.<\/p>\n Participants included Dunamu, Hanhwa Systems, Chong Kun Dang, Yanolja, Daelim, VTI Partners, DSC Investments, Shinhan Venture Capital, KB Investments and SBI Investments.<\/p>\n The funds will be used to expand the blockchain-as-a-service business, where the company serves more than 3,300 corporate clients.<\/p>\n Crypto infrastructure startup Ramp raised $52.7 million<\/a> in a Series A, led by Balderton Capital.<\/p>\n Investors included NFX, Galaxy Digital, Seedcamp, Firstminute Capital, as well as Wise co-founder Taavet Hinrikus and TrueLayer CEO Francesco Simoneski.<\/p>\n The funds will be used to grow the team, seal new partnerships, and expand collaboration with notable players such as Mozilla, Opera, Sorare and Axie Infinity.<\/p>\n 2TM Group, the parent of Brazilian crypto exchange Mercado Bitcoin, raised $50.3 million<\/a> in an extended Series B round.<\/p>\n New investors include American funds 10T and Tribe Capital, as well as Brazilian firms Traders Club, Pipo Capital and Endeavour.<\/p>\n The funds will be used to expand in Latin America. The company named Argentina, Chile, Colombia and Mexico as priority markets.<\/p>\n Also on ForkLog:<\/p>\nAnchorage raises $350 million at a $3 billion valuation<\/strong><\/h2>\n
1inch Network raises $175 million from Alameda Research, VanEck and other investors<\/strong><\/h2>\n
SoftBank invests $150 million in Zepeto metaverse platform<\/strong><\/h2>\n
Lydia raises $100 million<\/strong><\/h2>\n
Sequoia Capital leads CertiK $80 million round<\/strong><\/h2>\n
Nansen raises $75 million at $750 million valuation<\/strong><\/h2>\n
Kraken Ventures raises $65 million<\/strong><\/h2>\n
TRM Labs raises $60 million from Tiger Global and others<\/strong><\/h2>\n
Upbit’s blockchain division raises $60 million<\/strong><\/h2>\n
Ramp raises $52.7 million<\/strong><\/h2>\n
Mercado Bitcoin parent raises $50.3 million<\/strong><\/h2>\n
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