Monster Money Momentum

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Normally, I report that we’ve seen half a Billion or sometimes nearly a Billion. Well this week put all weeks to shame and it was primarily the result of one project which had a botch launch. Dig in to follow dat money! 

Low Tier

Crypto accounting platform Cryptio raised $1.2M in seed funding, which will be used to scale their product for digital assets. ChainSwap, a service designed to allow you to easily swap tokens between blockchains, raised $3M from investors, including Alameda Research and NGC Ventures. 

Alameda Research Invested $4M in Coin98 Finance, which is based in Vietnam and is building a decentralized wallet. The team is looking to build out the DeFi market in Asia. TON Labs, is the core developer of the Free TON Network, a decentralized, community driven blockchain raised $6M in support of the Free TON blockchain. Crypto trading terminal Atani raised $6.25M in seed funding.

Mid Tier

Enjin secured $18.9M funding for Polkadot-based NFT blockchain. Draper Goren Holm, which is a $25M venture fund, intends to incubate startups building on the Tezos Blockchain. 

High Tier

Bitcoin mining firm Hut 8 files to raise nearly $400M in Canada. Plaid announces $425M raise following failed Visa merger. Fei labs raised 639K in ETH which was equivalent to $1.3B! The money will be used to kickstart their decentralization stablecoin; which had a terrible launch due to vulnerabilities in the code. 

In addition, Coinbase Ventures is backing DeFi projects in the Polkadot ecosystem and Jump Trading made an equity investment in sports fan token ecosystem Chiliz. Cardano ecosystem venture fund established their first investment into COTI. Overall Venture capitalists have invested over $16B into Blockchain projects since 2012.

If you can believe it – we are still just getting started. 

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