Receives $110 Million in Series E Funding

Key Points:

  •’s Series E raises $110M, led by UK’s Kingsway Capital.
  • The funding follows a valuation dip post-Terra ecosystem collapse.
  • Capital boost aimed at’s innovation in digital assets., a key figure in the blockchain sector, has recently completed an important funding round, securing $110 million in Series E funding. This development infuses a substantial amount of capital into the company and indicates a significant change in its overall market valuation.

Kingsway Capital, a venture capital firm based in the United Kingdom, spearheaded the funding round. It drew notable support from various influential entities, including Baillie Gifford, Lakestar, and Coinbase Ventures. Therefore, this capital injection is anticipated to bolster’s strategic plans, strengthening its standing in the dynamic world of blockchain technology. Receives $110 Million in Series E Funding Receives $110 Million in Series E Funding

Investment and Valuation Shifts Post-Terra Impact

According to a report from Bloomberg on November 14, insiders have disclosed that this latest investment round has reassessed’s worth. The company’s valuation now stands at less than half its impressive $14 billion peak in March 2022. This revaluation comes in the wake of the collapse of the Terra ecosystem, led by Do Kwon. This also initiated a series of liquidity issues culminating in the bankruptcy of the hedge fund Three Arrows Capital (3AC) and several notable crypto lenders.’s journey to a valuation of $14 billion in early 2022 was marked by a funding round that saw participation from Lightspeed Ventures and Baillie Gifford, a well-known early investor in high-growth stocks such as Tesla. The recent financing round reflects the ongoing vibrancy within the blockchain sector. Currently, significant investors are continuing to see potential and resilience in, even as the industry faces new challenges.

The $110 million capital is expected to enable to navigate the complexities of the blockchain environment and drive innovation in digital assets. This move signifies a commitment to adaptability and growth in an industry known for its rapid evolution and technological advancements. The company’s ability to secure such funding in a challenging economic climate underscores its robust position and investors’ confidence in its future endeavors.

Conclusion’s successful fundraising effort highlights its adaptability and resilience in a fluctuating market. Despite recent upheavals and challenges, it also underscores major investors’ continued interest and confidence in the blockchain industry. This funding is poised to play a critical role in enabling to continue its innovative pursuits and maintain its competitive edge in the blockchain sector.

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