In a significant development within the crypto landscape, Alpen Labs, a prominent Bitcoin Layer 2 developer, has successfully closed an $8.5 million strategic financing round as reported on January 13th. The round was spearheaded by DBA and Cyber Fun, with additional contributions from noted firms such as Ribbit Capital, Castle Island Ventures, and Geometry. This influx of capital is earmarked for the advancement of their innovative Bitcoin ZK Rollup technology, named Strata, which is now set to launch its mainnet by 2025. Prior to this, Alpen Labs raised $10.6 million in April 2024, led by Ribbit Capital, revealing robust investor confidence in the company’s vision. The testnet for Strata will be publicly accessible next month, indicating promising developments for scalability solutions in the Bitcoin ecosystem.
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