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May crypto VC roundup: Lowest funding in last six months

Quick Take May saw venture capital investment of around $3.5 billion in crypto startups — the lowest since last October. Twenty new crypto VC funds were also launched, including from a16z, Standard Crypto and SPiCE VC. This feature story is available to subscribers of The Block News Plus. You can continue reading this News Plus feature on The Block.

Skolem announces $20 million Series A round led by Galaxy Digital

Data and trade execution service provider Skolem Technologies announced Wednesday that it has closed a $20 million Series A round led by Galaxy Digital. Point72 Ventures, Jump Crypto, Fenwick and West, Morpheus Ventures and Dragonfly Capital also joined the round, according to a release.  Skolem aims to provide a safe and secure entry point for institutional investors wishing to access the constantly evolving decentralized finance (DeFi) markets, according to CEO and founder JP Smith. Proceeds from this round will go …

Valkyrie raises $11.15 million in strategic fundraising

Valkyrie Investments has raised $11.15 million in a new strategic funding round. The round saw participation from the likes of BNY Mellon, Wedbush Financial Services, Clearsky, Zilliqa Capital, C-Squared Ventures, Belvedere Strategic Capital and SenaHill Partners, among others.  Valkyrie has launched a number of trusts this year, with multiple products providing exposure to single assets. Other recently launched products include an exchange-traded fund that invests in firms engaged in bitcoin mining. It also surpassed $1 billion in assets under management …

The 25 biggest fintech funding rounds: May 2022

Quick Take In May, fintech investment slightly recovered from the prior month’s year low.  Fintech startups raised $7.3 billion in May, up from $6.4 billion in April.  This feature story is available to subscribers of The Block News Plus. You can continue reading this News Plus feature on The Block.

Kushki hits unicorn status as payments platform raises $100 million

Kushki, a payments platform based in Ecuador, has raised $100 million in Series B financing at a unicorn valuation.  The round includes investors such as Kaszek Ventures, SoftBank Latin America Fund and Dila Capital among others, according to a statement on Wednesday.  “Reaching this milestone in times of historical economic uncertainty speaks to the quality and resilience of our entire team and the enormous Latin American talent that exists in the region,” CEO and co-founder Aron Schwarzkopf said in the …

Crypto tax software Ledgible closes $20 million Series A round

Crypto tax and accounting startup Ledgible has closed a $20 million Series A led by asset management firm EJF Capital. Thomson Reuters Ventures, Fenbushi US and TTV Capital among others also joined the round, according to a release.  Ledgible says it integrates major blockchains, exchanges, wallets, and professional accounting tools in order to determine tax liabilities for both consumers and enterprises. The funding will be used to expand its product offering, as well as to recruit experts for its ‘professional …

Haun Ventures leads $32 million round in Ethereum protocol Euler

Katie Haun’s Haun Ventures has led a $32 million fundraising round for Euler, a non-custodial protocol that allows users to lend and borrow digital assets.  Euler, which is built on top of the Ethereum blockchain, says it’s able to mitigate the risk of lending and borrowing assets through a framework that assigns each investment a tier depending on its risk.  “Euler takes a unique approach to address the risks associated with lending and borrowing crypto assets that stood out to …

Indonesian crypto exchange Pintu raises $113 million in Series B funding

Indonesia-based cryptocurrency exchange Pintu has raised $113 million in a Series B funding round. Investors in the round include Pantera Capital, Lightspeed India Partners, Intudo Ventures and Northstar Group. There was a lead investor in this round, Pintu’s founder and CEO Jeth Soetoyo told The Block in an interview, but he declined to name it because the investor prefers to remain undisclosed. But that investor is a global venture capital firm, he said.  Pintu’s raise comes at a time when …

BlockFi is raising a down round at $1 billion valuation: sources

Crypto financial services firm BlockFi is in the process of closing a down-round — in which funds will be raised at a lower valuation compared to previous raises — according to three sources with knowledge of the process. BlockFi, which was reportedly raising funds at a valuation above $5 billion last year, provides one signal that the compression of valuations that have hit public markets for tokens and stocks is making its way to private markets.  The firm, founded in …

Size raises $6 million backed by Three Arrows, Wintermute, Mgnr and more

Crypto startup Size raised $6 million in a seed round led by Singapore-based crypto hedge fund Three Arrows Capital and market markers Wintermute and Mgnr. The funding round also included other companies like Alameda Research, D1 Ventures and Genblock Capital, according to an announcement on Wednesday. A group of angel investors from the crypto community also participated in the funding effort.  Per the company’s description, Size offers users a way to “easily participate in sealed bid auctions for vested or …