Institutional investors are professional entities that engage in investments using their own and borrowed funds to generate income. They are major players in the capital markets, including the cryptocurrency market, and have a significant influence due to their large transaction volumes.
1. Blockchain.com – $110 million Blockchain.com, one of the oldest Bitcoin exchanges, recently secured $110 million in funding from various firms such as Kingsway Capital, Lakestar, Freeman Capital, Coinbase Ventures, and Pledge Ventures. This investment has resulted in a valuation of $7 billion for the company, which is lower than its previous valuation in March 2022.
It’s worth noting that Blockchain.com had to downsize its workforce and reduce top managers’ salaries earlier in the year due to potential losses associated with Three Arrows Capital, a notorious hedge fund.
2. Blast – $20 million Blast is an Ethereum-based L2 solution that offers returns in ETH and stablecoins. It was created by the founder of the NFT marketplace Blur. The project recently raised $20 million from Paradigm and Standard Crypto. The team behind Blast believes in the principle of market efficiency, where liquidity flows to areas that can generate the highest returns.
They have redesigned L2 from scratch, and if you hold 1 ETH in your Blast wallet, it will automatically grow over time to 1.04 ETH, 1.08 ETH, and so on. The official Blast bridge is already available, but the mainnet launch and withdrawal options will be introduced in February 2024.
3. Privy – $18 million Privy, a Web3 startup focused on infrastructure, has raised $18 million in funding. The round was led by Paradigm, with participation from Sequoia Capital, a well-known investor in the crypto industry. Privy offers wallet connectors and non-custodial solutions to its users, providing them with greater control over their assets.
