COINOTAG news reported on September 19, citing Fortune magazine, that the Solana ecosystem’s DeFi platform, Drift, successfully raised $25 million in a Series B financing round. The round was led by Multicoin Capital and saw participation from prominent investors such as Blockchain Capital, Primitive Ventures, and Folius Ventures. Drift Labs’ co-founder Cindy Leow articulated the company’s vision of transforming Drift into the “Robinhood of the crypto realm.” This transformation includes the development of comprehensive financial service tools like spot trading, derivatives trading, and prediction markets, all leveraging the Solana blockchain.
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