More Secures $110 Million in Series E Funding

    In a strategic move,, a prominent player in the crypto space, has successfully raised $110 million in its Series E funding round. The investment, led by British investment firm Kingsway Capital, underscores’s commitment to advancing its position in the evolving digital finance landscape.

    While this funding signals a robust financial injection for, reports suggest that the company’s valuation post-funding is notably lower than its previous valuation of $14 billion in 2022. This nuanced shift in valuation comes amid financial challenges arising from a $270 million loan extended to the now-defunct Three Arrows Capital (3AC) hedge fund.

    Kingsway Capital spearheaded the funding round, with participation from renowned investors such as Coinbase Ventures, Baillie Gifford, Lakestar, Lightspeed Venture Partners, and others. The infusion of capital not only strengthens’s financial standing but also brings notable expertise to the company through the addition of two board members from Kingsway and Lakestar.

    The financial landscape of Three Arrows Capital, a significant player in various cryptocurrency projects, has faced challenges, leading to and Deribit, a crypto exchange, seeking the liquidation of 3AC in the British Virgin Islands. Three Arrows Capital’s substantial investments in projects like Terra, Axie Infinity, and BlockFi, each encountering their own set of challenges, have contributed to the complex financial situation.

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