{"id":84161,"date":"2023-09-07T19:00:05","date_gmt":"2023-09-07T16:00:05","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=84161"},"modified":"2025-09-12T15:40:54","modified_gmt":"2025-09-12T12:40:54","slug":"pantera-capital-leads-16-5-million-investment-round-for-brine-finance-a-dex","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/pantera-capital-leads-16-5-million-investment-round-for-brine-finance-a-dex\/","title":{"rendered":"Pantera Capital leads $16.5 million investment round for Brine Finance, a DEX"},"content":{"rendered":"<p>A decentralized exchange (DEX) built on an order-book Brine Finance closed a funding round of $16.5 million at a valuation of $100 million.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Decentralized orderbook <a href=\"https:\/\/twitter.com\/BrineFinance?ref_src=twsrc%5Etfw\">@BrineFinance<\/a>, powered by zero-knowledge proof tech, has raised $16.5 million in an investment round led by <a href=\"https:\/\/twitter.com\/PanteraCapital?ref_src=twsrc%5Etfw\">@PanteraCapital<\/a>, valuing the platform at $100 million. <a href=\"https:\/\/twitter.com\/sndr_krisztian?ref_src=twsrc%5Etfw\">@sndr_krisztian<\/a> reports<a href=\"https:\/\/t.co\/yI5nAFI9Cu\">https:\/\/t.co\/yI5nAFI9Cu<\/a><\/p>\n<p>\u2014 CoinDesk (@CoinDesk) <a href=\"https:\/\/twitter.com\/CoinDesk\/status\/1699739548379394484?ref_src=twsrc%5Etfw\">September 7, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Its funding round was led by Pantera Capital.<\/p>\n<p>The funds were also provided by Elevation Capital, Starware Ltd, Spartan Group, Goodwater Capital, Up Sparks Ventures and Deepthrough Ventures.<\/p>\n<p>Brine Finance is deployed on StarkEx within the<a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-layer%e2%80%912-solution-in-blockchain\"> L2<\/a>-network<a href=\"https:\/\/forklog.com\/en\/news\/what-are-starknets-blockchain-and-cryptocurrency\"> StarkNet<\/a>. At the core of the latter lies the cryptographic mechanism ZK-STARK, one of the types<a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-zero-knowledge-proof\"> of zero-knowledge proofs<\/a>.<\/p>\n<p>This technology provides confidentiality for trading positions.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cBrine Finance addresses some of the most important problems hindering DeFi adoption. There is a need for an execution level that would be faster, more reliable, easier to use and more cost-efficient,\u201d<\/em> said Pantera Capital managing partner Paul Veradittakit.<\/p>\n<\/blockquote>\n<p>Brine Finance launched in May 2023. The platform&#8217;s daily trading volume (7DMA) reached $3.26 million, TVL \u2014 $577,000.<\/p>\n<p>As Kaiko notes, total turnover on cryptocurrency exchanges for April\u2013June<a href=\"https:\/\/forklog.com\/en\/news\/analysts-flag-drop-in-exchange-turnover-to-2020-levels\"> fell<\/a> to a multi-quarter low, according to Kaiko.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brine Finance, a decentralized exchange built on an order-book, closed a $16.5 million funding round at a $100 million valuation.<\/p>\n","protected":false},"author":1,"featured_media":84162,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[787,1296,1374,1133],"class_list":["post-84161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-dex","tag-pantera-capital","tag-starkware","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84161","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=84161"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84161\/revisions"}],"predecessor-version":[{"id":84163,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84161\/revisions\/84163"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/84162"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=84161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=84161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=84161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}