Solana-Based Drift Raises $25M to Build ‘SuperApp’ for DeFi Trading
The DeFi platform plans to build an array of financial services tools, including spot and derivatives trading and a predictions market.
Fundraising
Sonic SVM, Gaming Project on Solana Blockchain, Plans $12.8M Node Sale
The project is taking advantage of an increasingly popular fundraising method known as “node sales” just months after a traditional $12 million fundraise.
Bridge Fundraising for Stablecoin-Based Payments Network Totals $58M: Report
Bridge, founded by Square and Coinbase alumni, recently raised $40 million in a round led by Sequoia and Ribbit.
Fabric, Startup Building ‘VPU’ Chips for Cryptography, Raises $33M
Fabric Cryptography, a startup focused on hardware, has raised $33 million in a Series A fundraising round. (Creative Commons)
Digital Assets Infrastructure Provider Parfin Raises $10M in Series A Funding
The company plans to reach $16 million by the end of a second closing.
Morgan Creek Digital to Raise up to $500M for New Web3 Venture Capital Fund
The new fund will target early stage opportunities in AI, blockchain technology, chips and data.
Ora, Aiming to ‘Unlock Design Space for AI Dapps,’ Raises $20M
The project, founded in 2022, says it aims to incorporate AI into decentralized applications with its “on-chain AI oracle.”
Bain Capital Crypto Raising Second Fund: Filing
Bain Capital has been an active investor in crypto since its initial fund launch, participating in a $115 million round for Sam Altman’s Worldcoin.
Influencer-Investors Get Perks to Pitch Tokens: Inside Crypto’s ‘KOL’ Economy
Paid shills are nothing new to crypto. Now they’re on the cap table, driving growth for protocols and leaving retail traders in the dark.
The Protocol: From ‘Node Sales’ to ‘Address Poisoning,’ the Money’s in Crypto
In this week’s issue of The Protocol newsletter, we dive into the crypto industry’s fundraising method du jour – it’s all about the decentralization! PLUS: Polyhedra says its ZK prover is 2x faster than anyone else’s.