- Crypto finance developments are accelerating with a wave of new investments and acquisitions.
- Polygon Labs’ acquisition and ProShares’ ETF launch mark significant industry moves.
- “We’re thrilled to announce significant new funding and market developments,” said industry leaders.
Explore the latest in crypto finance, including new fundraisers, strategic acquisitions, and innovative ETF launches that are shaping the future financial landscape.
Avail Completes $43 Million Series A Funding Round Before Main-Net Launch
Avail has successfully raised $43 million in a Series A funding round ahead of its main-net launch. This modular Blockchain project, which separated from Polygon last year, secured significant investments. The funding round was co-led by Peter Thiel’s Founders Fund, Dragonfly, and Cyber Fund. Other notable investors included SevenX Ventures, Figment Capital, Nomad Capital, Chapter One, Foresight Ventures, Mirana Ventures, KR1, Alliance, and Hashkey Capital. Founders Fund and Dragonfly have reinforced their support by increasing their investments in Avail.
Polygon Labs Acquires Toposware to Enhance Zero-Knowledge Capabilities
Polygon Labs, known for its MATIC Coin, has acquired Toposware, a Blockchain research firm with a zero-knowledge focus. This acquisition aims to develop type 1 provers and enhance Polygon’s zero-knowledge arsenal. This strategy is particularly significant for improving interoperability among ZK-supported Ethereum Layer 2 solutions. The acquisition marks Polygon’s third major zero-knowledge-focused acquisition in just under three years. While specific terms of the deal were not disclosed, it is expected to bolster Polygon’s technological edge in the competitive blockchain space.
Gitcoin Initiates First Round of Fundraising for Sei Foundation Creator Fund
Gitcoin has announced the launch of its first fundraising round for the Sei Foundation Creator Fund. This initiative will see the Sei community allocate a $250,000 matching pool through Gitcoin Grants Stack to support projects building within the Sei ecosystem. The goal is to foster innovation and support the growth of new projects in this burgeoning blockchain network.
ProShares to Launch Two Ethereum-Linked ETFs
ETF issuer ProShares is set to introduce two new Ethereum-linked ETFs: ETHT and ETHD. The ProShares Ultra Ether ETF (ETHT) aims to provide twice the daily return of ETH, while the ProShares UltraShort Ether ETF (ETHD) targets twice the inverse of ETH’s daily return. Both ETFs will be the first of their kind listed in the U.S. and are expected to start trading on the New York Stock Exchange on June 7th.
DTX Begins Operations on Taiko Main-Net
DTX.trade, a decentralized trading and liquidity protocol, has officially launched on the Taiko main-net. Along with this launch, DTX.trade has introduced a new spot swap function, allowing users to engage in spot trading with up to 50x leverage. Additionally, the platform is set to launch a new launchpad, enabling users to earn DTX Fuel points through trading activities.
COOKIE Token Set to Launch on June 13th
Supported by Animoca Brands, COOKIE token will make its debut on June 13th. This token is a governance and utility asset within the Cookie ecosystem, a Web3 user analysis startup. Last August, Cookie secured $2.5 million in funding from Spartan Group, Hartmann Capital, and other investors. The much-anticipated launch of the COOKIE token is expected to enhance the governance framework and utility of the Cookie ecosystem.
Worldcoin Halts Data Collection in Spain Amidst Regulatory Scrutiny
The Spanish Data Protection Agency (AEPD) has mandated Worldcoin to suspend its data collection activities in Spain. Tools for Humanity Corporation, which operates Worldcoin, has agreed to halt data collection and processing until the end of 2024 amid ongoing investigations. This development follows a broader trend of regulatory scrutiny across Europe, with Germany’s Bayerisches Landesamt für Datenschutzaufsicht (BayLDA) also examining Worldcoin’s data handling practices.
Conclusion
The crypto landscape continues to evolve rapidly with significant funding rounds, strategic acquisitions, and regulatory developments. Investors and stakeholders should stay attuned to these dynamic changes as they present new opportunities and challenges within the digital finance ecosystem. These developments underscore the importance of staying informed and adaptable in the ever-changing world of cryptocurrency and blockchain technology.
