10 “huge” fundraising rounds in the crypto world in 2021

Crypto and blockchain startups are constantly setting new funding records. 10 of the 12 largest funding rounds ever completed by companies in the nascent market, totaling $3.9 billion, came in 2021. Nearly half of that money was raised just within the last two months in just four big rounds.

The recent boom has come from exchange FTX with the largest deal in the history of the crypto industry at $900 million last July, double the digital infrastructure provider’s record. Circle. The round also doubled the net worth of the world’s richest crypto billionaire and FTX founder, Sam Bankman-Fried, from $8.3 billion to $16.2 billion.

Topping the list of the wealthiest investors in the US as of July 29 is Barry Silbert’s Digital Currency Group, which has backed 111 industry startups, followed by 79 from Coinbase Ventures, 74 from Pantera Capital, 68 from Blockchain Capital, 58 from Andreessen Horowitz and 51 from Polychain Capital.

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New York’s Top Crypto/Blockchain Investors

With the cryptocurrency market on the rise again, there are bound to be more large rounds of funding. In the meantime, here are the 12 biggest fundraisers in crypto history (excluding funds raised by companies that operate primarily in the non-crypto vertical):

FTX: 900 million USD

  • Agreement date: July 20, 2021
  • Vòng VC: Series B
  • Notable investors: Paradigm, Sequoia Capital, Ribbit Capital, Third Point, Lightspeed Venture Partners, Coinbase Ventures, Softbank, Sino Global Capital, Circle
  • Post-deal valuation: 18 billion USD
  • Pre-deal valuation: $1.2 billion

FTX is a relatively newcomer among crypto exchanges – launching in May 2019. However, despite its late birth, it still sets itself apart from industry giants like Binance and Coinbase by providing traders with advanced functionality and sophisticated investment products, including options, futures, and leveraged tokens. FTX averages over 10 billion USD in daily trading volume; has grown revenue 10x this year and 75x since the Series A funding round.

Circle: $440 million

  • Agreement date: May 28, 2021
  • Notable investors: Fidelity Management and Research Company, Marshall Wace, Digital Currency Group, FTX, Breyer Capital
  • Post-deal valuation: N/A
  • Pre-deal valuation: 3 billion USD

Circle is a payment and treasury infrastructure provider, best known as one of the main developers of stablecoin USDC, which has grown by more than 3,400% this year. On July 8, Circle announced plans to go public through a merger with Concord Acquisition Corp, pushing the company’s valuation to $4.5 billion.

Bitmain: $422 million

  • Agreement date: August 7, 2018
  • Vòng VC: Series B1
  • Notable investors: Crimson Capital China, Bluebell (Asia), Jumbo Sheen Group, Lioness Capital, Palace Investment Company, Pavilion Capital
  • Post-deal valuation: 15 billion USD
  • Pre-deal valuation: 12 billion USD

Bitmain is the world’s leading manufacturer of Bitcoin mining hardware. The company also operates Antpool, one of the top mining pools, which accounts for 13% of the BTC hash rate. Shortly after raising $422 million, the Beijing-based company filed for an IPO on the Hong Kong Stock Exchange in September 2018, but the offering failed amid the Bitcoin crash. and the market shut down.

Ledger: $380 million

  • Agreement Date: June 10, 2021
  • Round VC: Series OVER
  • Notable investors: 10T Holdings, Cathay Innovation, Draper Esprit, Draper Associates, Draper Dragon, DCG.
  • Post-deal valuation: $1.5 billion
  • Pre-deal valuation: $287.1 million

Ledger manufactures hardware wallets, specialized devices used to store digital assets. To date, it has sold over 3 million hardware wallets in 190 countries and has over 1.5 million monthly users on Ledger Live. The company has integrated with platforms such as Coinify, a payment platform and cryptocurrency exchange; Changelly, a cryptocurrency exchange; and Compound, a decentralized crypto lending and lending platform.

BlockFi: $350 million

  • Agreement date: March 11, 2021
  • VC Round: EASY Series
  • Notable investors: Bain Capital Ventures, partner of DST Global, Pomp Investments, Tiger Global, Susquehanna Government Products
  • Post-deal valuation: 3 billion USD
  • Pre-deal valuation: $435 million

Founded in 2017, New-Jersey-based BlockFi is currently one of the leading crypto lending service providers. Its products cover a wide range of categories including crypto-backed mortgages and interest-bearing accounts through which investors can earn interest on crypto holdings. their. Rumors of a potential BlockFi IPO began circulating last July following reports of job openings, part of which involved helping the company list on the stock exchange. Last month, regulators from Texas, New Jersey and Alabama began to raise concerns about the legality of the company’s BlockFi Interest Account (BIA) offering.

Solana Labs: $314 million

  • Agreement date: June 9, 2021
  • VC round: Open for sale privately
  • Notable investors: Andreessen Horowitz, Polychain Capital, Alameda Research, Blockchange Ventures, CMS Holdings.
  • Post-deal valuation: N/A
  • Pre-deal pricing: N/A

Solana claims to offer better scalability and improved speed than Ethereum. According to data from blockchair, the network is capable of handling more than 1,000 transactions per second (TPS), compared to Ethereum’s 14 TPS. Solana has facilitated over 19 billion on-chain conversions to date and hosts a range of decentralized products including Serum, a decentralized exchange founded by billionaire FTX founder Sam Bankman-Fried. create.

Fireblocks: 310 million USD

  • Agreement date: July 27, 2021
  • VC Round: EASY Series
  • Notable investors: Sequoia Capital, SCB 10X (a joint venture branch of Siam Commercial Bank), Coatue, Stripes, Spark Capital, DRW VC
  • Post-deal valuation: 2 billion USD
  • Pre-deal pricing: N/A

Fireblocks is a New York-based crypto custodian that provides an enterprise-grade platform for moving, storing, and issuing digital assets. A key differentiating feature to Fireblocks’ custodial service is the use of a new form of wallet security known as multi-party computation (MPC), which allows multiple parties – each keeping their own data private. – to evaluate a calculation without ever revealing any private data held by each party. Since its founding in 2019, Fireblocks has secured over 1 trillion digital assets.

Dapper Labs: $305 million

  • Trading date: March 30, 2021
  • VC round: 5th round
  • Notable investors: Coatue Management, Andreessen Horowitz, Michael Jordan, Kevin Durant
  • Post-deal valuation: $2.6 billion
  • Pre-deal pricing: N/A

Dapper Labs is a Vancouver-based startup best known as the developer of NBA Top Shot, an NFT marketplace for basketball highlights or “moments.” The project, which has crossed the $500 million mark in trading volume, is largely responsible for the explosion of NFTs. Before that, Dapper Labs developed a popular Ethereum game of spawnable collectibles called CryptoKitties.

Bullish: 300 million USD

  • Agreement date: 11 May 2021
  • VC Round: Round 1
  • Notable investors: Peter Thiel’s Thiel Capital and Founders Fund, Alan Howard, Galaxy Digital, Nomura.
  • Post-deal valuation: N/A
  • Pre-deal pricing: N/A

In May, Block.one, the company behind the EOSIO open source software, launched an independent subsidiary focused on the release of Bullish, a new blockchain-based cryptocurrency exchange. The venture has raised over $10 billion in cash and digital assets, including a $300 million investment round, from prominent investors such as Peter Thiel, Alan Howard, and Richard Li, among others. In July, just two months after its launch, Bullish revealed plans to go public through a merger of SPAC at a $9 billion valuation.

Paxos: $300 million

  • Agreement date: April 29, 2021
  • VC Round: EASY Series
  • Notable Investors: Oak HC/FT, PayPal Ventures, Declaration Partners, Liberty City Ventures, Bank of America
  • Post-deal valuation: $2.4 billion
  • Pre-deal pricing: N/A

Paxos’ technology powers the crypto brokerage services of PayPal and PayPal-owned Venmo, allowing millions of users to buy, hold, and sell Bitcoin and several other major cryptocurrencies. The company’s other products and services include the US dollar-backed stablecoin Paxos Standard (PAX), the exchange itBit, and a stock settlement service used by Credit Suisse, Societe Generale and Instinet, its exchange arm. translation of Nomura Holdings.

Blockchain.com: $300 million

  • Agreement date: March 24, 2021
  • Round VC: Series OVER
  • Notable investors: partners of DST Global, Lightspeed Venture Partners, VY Capital
  • Post-deal valuation: $5.2 billion
  • Pre-deal valuation: 3 billion USD

Blockchain.com offers a variety of cryptocurrency services to retail and institutional clients. Unlike its counterparts that are controlled by third parties, these wallets give users full control over their private keys that represent ownership of crypto assets. The London-based company claims it has processed 28% of all Bitcoin transactions since 2012.

Bakkt: 300 million USD

  • Agreement date: March 16, 2020
  • Vòng VC: Series B
  • Notable investors: Intercontinental Exchange (ICE), BCG Digital Ventures, PayU
  • Post-deal valuation: N/A
  • Pre-deal pricing: N/A

In February 2020, the crypto venture of ICE (owner of the New York Stock Exchange) acquired Bridge2 Solutions, a provider of loyalty programs, to strengthen the platform. retail of Bakkt. Called Bakkt App, the service allows users to aggregate various digital assets including loyalty points, rewards programs, game assets, and cryptocurrencies in a single wallet.

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