According to incomplete statistics from Odaily Planet Daily, there were a total of 24 blockchain financing events announced from October 14 to October 20, an increase from the previous week's data (18 events). The disclosed total financing amount is approximately $921 million, a significant rise from last week's figure ($108 million).
Last week, the project with the highest investment amount was the network state project Praxis ($525 million); followed closely by the Bitcoin infrastructure development company Blockstream ($210 million).
The following are specific financing events (Note: 1. Sorted by disclosed amount; 2. Excludes fund raising and merger events; 3. * indicates traditional companies involved in blockchain):
On October 16, the “Network State” project Praxis announced a $525 million financing round, with participation from Arch Lending, Manifold Trading, and angel investors including Farcaster CEO Dan Romero and Worldcoin co-founder Max Novendstern. The project had previously raised funds from Paradigm, Alameda Research, and Three Arrows Capital.
Blockstream completes $210 million convertible note financing, led by Fulgur Ventures
On October 15, Bitcoin infrastructure development company Blockstream completed a $210 million convertible note financing, led by Fulgur Ventures. Blockstream plans to use the funds to accelerate the market application of its Layer 2 technology, expand its Bitcoin mining business, and enhance its Bitcoin reserves.
On October 15, blockchain video game developer Azra Games announced the completion of a $42 million Series A financing round, led by Pantera Capital, bringing its total financing amount to $68.3 million.
It is reported that Azra Games was founded in 2022 by veteran game designer Mark Otero, and is currently planning to develop a high-quality role-playing game called “Project Legends,” which will integrate NFT and blockchain technology while promoting the development of fourth-generation RPGs, initially launching on mobile devices.
Yellow Card completes $33 million Series C financing, led by Blockchain Capital
On October 18, pan-African fintech company Yellow Card completed a $33 million Series C financing round, led by Blockchain Capital.
Yellow Card is a pan-African fintech company that provides stablecoin-based financial infrastructure. As the largest and first licensed stablecoin in/out platform on the African continent, the company offers a secure and cost-effective way for businesses of all sizes to buy and sell currencies like USDT, USDC, and PYUSD with local currencies—both directly and through its payment API.
Crypto derivatives exchange Bitnomial completes $25 million financing, led by Ripple Labs
On October 16, crypto derivatives exchange Bitnomial announced the completion of a $25 million financing round led by Ripple Labs, and launched its perpetual futures trading platform Botanical in the U.S., which is currently in closed testing.
The platform will provide investors with trading options for perpetual futures, traditional futures, and options. Bitnomial CEO Luke Hoersten stated that the platform aims to offer a regulated and innovative trading experience, utilizing Ripple's RLUSD stablecoin to settle perpetual futures.
zkPass completes $12.5 million Series A financing, with participation from Animoca Brands
On October 17, privacy-preserving data verification protocol zkPass completed a $12.5 million Series A financing round, achieving a valuation of $100 million, with participation from dao5, Animoca Brands, Flow Traders, Amber Group, IOBC Capital, Signum Capital, MH Ventures, and WAGMI Ventures. It is reported that zkPass plans to launch its token in the first quarter of next year.
Opacity Network completes $12 million seed round financing, led by Breyer Capital
On October 16, the zero-knowledge proof-based data verification platform Opacity Network announced the completion of a $12 million seed round financing, led by Archetype and Breyer Capital, with participation from a16z Crypto Startup Accelerator (CSX), Finality Capital Partners, Bodhi Ventures, and Escape Velocity (EV3). This seed round financing brings Opacity Network's total financing amount to $13.4 million, having previously raised $1.4 million in a Pre-Seed round.
On October 14, Bitcoin staking protocol Solv Protocol announced the completion of an $11 million financing round at a valuation of $200 million, with participation from Nomura subsidiary Laser Digital, Blockchain Capital, and OKX Ventures. It is reported that Solv Protocol's SolvBTC product has deployed over 20,000 BTC (approximately $1.3 billion) across 10 major blockchain networks.
On October 17, the development team Mento Labs of the decentralized EVM platform on the Celo network announced the completion of a $10 million financing round, with participation from T-Capital, HashKey Capital, Richard Parsons, Flori Ventures, No Limit Holdings, Verda Ventures, and w3.fund.
On October 15, blockchain financial services application Predicate announced the completion of a $7 million financing round, with participation from Tribe and 1kx. The company plans to launch its product this week and will operate under a decentralized philosophy. Predicate is a startup founded by two alumni of the Celo blockchain, aiming to connect blockchain applications with the financial world. It is reported that the company declined to discuss plans for launching a token.
On October 18, New York-based on-chain AI oracle service Canyon Network announced the completion of a $6 million financing round, with participation from DeData Technologies, DAO Venture, Vinci Labs, and Fission Digital Capital, achieving a valuation of $60 million. The new funds will be used to support the development and launch of Onchain AI Oracle, enhancing the transparency, efficiency, and security of AI-driven blockchain applications.
Real-time ZK proof network ZEROBASE raises $5 million, with participation from Binance Labs
On October 19, the real-time ZK proof network ZEROBASE launched by Salus Security raised $5 million, aiming to provide privacy and access to the world's fastest decentralized computing infrastructure.
It is reported that it has received investments from top institutions such as Binance Labs, Faction VC, and daofive; other investors include MPCI, IDGBlockchain, symbolicvc, MHVentures, OakGroveVC, 10kventure, Web3PortFund, 071labs, LECCA Ventures, K24 Ventures, pakafund, rootzlabs, 1L, and cherryventures.
Drop Protocol completes $4 million seed round financing, led by CoinFund
On October 17, the liquid staking protocol Drop Protocol announced the completion of a $4 million seed round financing, led by CoinFund, with participation from CMS Holdings, Anagram, Interop Ventures, Cosmostation, as well as angel investors including Lido DAO co-founder Vasiliy Shapovalov, Celestia Labs co-founder Mustafa Al-Bassam, and Abacus Labs CEO and core contributor of Hyperlane Jon Kol. The new funds are intended to promote new economic possibilities in the Interchain.
Plasma completes $3.5 million financing, led by Bitfinex
On October 18, EVM-compatible Plasma completed a $3.5 million financing round, led by Bitfinex, with participation from Christian Angermayer and venture capital firms Split Capital, Anthos Capital, Karatage, and Manifold Trading. Bitfinex's CTO and Tether CEO Paolo Ardoino also supported the project. Plasma is attempting to support Bitcoin payment network gas fees while integrating Ethereum's account-based model.
Pell Network completes $3 million seed round financing, led by Halo Capital
On October 15, the Bitcoin ecosystem AVS network Pell Network announced the completion of a $3 million seed round financing, co-led by Halo Capital, Mirana Ventures, and Paper Ventures, with participation from ArkStream Capital, Caliber Venture Builder, and Cogitent Ventures. Pell Network aims to build a fully decentralized verification service (DVS) network supported by Restaking.
Open content delivery network Blockcast completes $2.85 million financing, led by Lattice Fund
On October 15, the open content delivery network Blockcast, built on a unique caching architecture, announced the completion of a $2.85 million financing round, led by Lattice Fund, with participation from Protocol Labs, Finality Capital Partners, AllianceDAO, Zee Prime Capital, RW3 Ventures, and angel investors including Solana founder Anatoly Yakovenko. Specific valuation information has not been disclosed. It is reported that the Blockcast network is built on the project's multicast adaptive HTTP proxy, which can be installed anywhere from rack units in the core network to smart TVs in consumer homes.
On October 16, the Avalanche ecosystem social protocol The Arena announced the completion of a $2 million Pre-Seed financing round, with participation from Blizzard (Avalanche ecosystem fund), Ava Labs, Avalanche leadership team members, Balaji Srinivasan, Abstract Ventures, D1 Ventures, Saron Funds, Alpha Crypto Capital, and other angel investors from Galaxy Digital, Fenbushi, Republic, Espresso Systems, Efficient Frontier, and Dao5.
As a social hub based on Avalanche, The Arena also welcomes participation from quality partners in its ecosystem, including the Trader Joe and Benqi teams.
Flappy Bird Foundation completes $2 million financing, led by Kenetic Capital and Scytale Ventures
On October 14, the Web3 mobile game project Flappy Bird Foundation announced the completion of a new round of financing totaling $2 million, led by Kenetic Capital and Scytale Ventures, with participation from Big Brain Holdings, Optic Capital, and 4SV. The new funds will support the project in adding a range of new Web3 features to attract nostalgic players and a new generation of gamers. It is reported that under the management of the newly established Flappy Bird Foundation, the intellectual property of the game will continue to be protected.
On-chain DA project Hyve completes $1.85 million seed round financing, led by Lemniscap
On October 17, the on-chain data availability (DA) project Hyve announced the completion of a $1.85 million seed round financing, led by Lemniscap, with participation from Paper Ventures, Frachtis, and others. It is reported that Hyve's solution, HyveDA, is a completely permissionless data availability layer that currently supports a throughput of 1 GB per second.
On October 17, the Bitcoin protocol layer Surge announced the completion of a $1.8 million Pre-Seed financing round, with participation from Autonomy, Gerstenbrot Capital, Double Peak Group, Sats Ventures, Vamient Capital, Samara AG, and angel investors including Rushi Manche from Movement Labs, CoinGecko co-founder Bobby Ong, and TM Lee. The new funds will drive the development of its MetaLayer to fully leverage Bitcoin as a global monetary base layer. Surge plans to launch its testnet soon.
Stablecoin developer Hermetica completes $1.7 million seed round financing, led by UTXO Management
On October 15, stablecoin developer Hermetica completed a $1.7 million seed round financing, led by UTXO Management, with participation from CMS Holdings, Ethos Fund, Trust Machines SPV, Newman Capital, Silvermine, and a group of angel investors. Hermetica issues yield-bearing synthetic dollars USDh on the Bitcoin network.
PinGo Lab completes seed round financing, with participation from CGV FOF
On October 14, decentralized infrastructure PinGo Lab announced the completion of seed round financing, with participation from CGV FOF, K24 Fund, Catcher VC, and Landscape Capital. Specific amounts have not been disclosed.
On October 15, the blockchain-based metaverse platform World of Dypians announced the completion of a new round of financing, with participation from IBC Group Official, which has formed a partnership with the platform. Specific financing amounts have not been disclosed. The platform integrates elements of DeFi and NFTs, allowing players to own assets and participate in trading and governance.
Binance Labs invests in Bitcoin liquid staking platform Lombard
On October 16, Binance Labs invested in the Bitcoin liquid staking platform Lombard. Lombard co-founder and strategic director Jacob Phillips declined to disclose the valuation in the latest financing round but noted that the startup's total financing amount is currently around $17 million, which is higher than the $16 million seed round financing four months ago, indicating that Binance Labs' investment scale is approximately $1 million.
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