Funding Roundup: Despite Bear Market, money is still flowing into the crypto

Funding Roundup: Despite Bear Market, money is still flowing into the crypto
Funding Roundup: Despite Bear Market, money is still flowing into the crypto

  • Nexo is considering buying Singaporean-based rival Vauld from Celsius
  • Rubix receives a $ 100 million investment from LDA Capital

When FTX announced that they would buy BlockFi for up to $ 240 million on Friday 1. June, a glimmer of hope emerged for struggling Web3 startups that larger, more financially stable crypto companies would help.

After Celsius announced that it would freeze the customer’s assets, Nexo expressed interest in buying Vauld to accelerate its presence in Asia. The struggling firm was one of many lending companies affected by the fall of Three Arrows Capital (3AC). Nexo will have 60 days to decide whether to buy Vauld in its entirety.

Last week, layer-1 blockchain protocol for peer-to-peer data transfer and transactions Rubix the country a $ 100 million investment from LDA Capital, an investment firm specializing in cross-border transactions.

“This funding will help us continue to innovate and fully realize our vision of creating a better, greener world through Web3. It opens the door to new partnerships, community engagement and solutions built on top of the Rubix platform,” said KC Reddy, Chief Architect and founder of Rubix to Blockworks in an email.

Venture capital firm at an early stage Convoybacked by Axie Infinity developer Sky Mavis, announced on Wednesday that it will launch one $ 150 million fund which will allow it to continue investing in blockchain games.

Although blockchain gaming is still a controversial area, attracting criticism from users for being profit-driven, according to Bloomberg, money continues to flow into the room. Among the latest rounds is Animoca Brands’ announcement that it will lead one $ 32 million in Series A. to Planetarium Labs, a startup that builds a community-driven Web3 gaming network. The capital of the republic is also flowing $ 20 million into Oasisan environmentally friendly blockchain built for the gaming community.

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Other notable capital increases over the past week:

  • Provider of crypto data Kaiko raised a $ 53 million in Series B led by Eight Roads Ventures.
  • Bitcoin mining company TeraWulf received a supplement $ 50 million in loans from the Wilmington Trust to build data center infrastructure.
  • BlockSeca security infrastructure dApp, raised one $ 8 million round led by Vitalbridge Capital and Matrix Partners.
  • Switzerland-based qiibeea blockchain-based B2B rewards marketplace offering crypto- and loyalty platforms for businesses and consumers, closed a $ 4.8 million round led by Z5 Capital.

Come back next week for more financing news.

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  • Bessie Liu

    Block works


    Bessie is a New York-based crypto reporter who previously worked as a technology journalist for The Org. She completed her master’s degree in journalism at New York University after working as a management consultant for over two years. Bessie is originally from Melbourne, Australia. You can contact Bessie at [email protected]

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