Blockstream Closes $210,000,000 in Funding To Accelerate Development ‘Ahead of Next Bitcoin Cycle’
Bitcoin ( BTC ) infrastructure firm Blockstream is raising hundreds of millions of dollars in funding ahead of BTC’s next big wave.
In a post on the social media platform X, Blockstream confirms that it just concluded a $210,000,000 funding round led by Fulgur Ventures.
Fulgur Ventures is a venture capital firm specializing in Bitcoin and Lightning Network start-ups.
According to Blockstream, the funds will be used to quicken layer-2 developments, expand BTC mining operations and continue to grow “one of the world’s largest BTC treasuries.”
Says Blockstream CEO Adam Back on the successful fundraising round and the addition of a new executive:
“This fundraise is pivotal in our journey to bridge Bitcoin with broader finance.
We’re excited to bring on Michael Minkevich as COO (Chief Operations Officer), and to have Fulgur Ventures’ support in advancing Bitcoin finance.”
The $210,000,000 financing round was closed in convertible notes, short-term debt instruments that can be converted into equity (shares) in a company at a later date, usually during a future financing round.
According to the announcement, this funding round is considered a crucial step in Blockstream’s mission to connect Bitcoin with the broader finance sector, potentially having significant implications for the future of Bitcoin and the financial industry.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on X , Facebook and Telegram
Surf The Daily Hodl Mix
Featured Image: Shutterstock/VAlex/Sensvector
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US Senate Republicans pick pro-crypto John Thune as their next leader
Share link:In this post: Senate Republicans chose pro-crypto John Thune as their new leader, replacing Mitch McConnell after 18 years. Thune’s pro-free trade stance puts him at odds with Trump, especially on tariffs, which he warned could lead to inflation. Known for his support of crypto legislation, Thune co-sponsored the Digital Commodities Consumer Protection Act to bring clear regulation to the industry.
BlackRock expands BUIDL with cross-chain integration to spread investment opportunities
Share link:In this post: BlackRock announced the launch of its BUIDL across multiple blockchains on November 13. The tokenized BlackRock USD Institutional Digital Liquid Fund will expand to Aptos, Optimism, Avax, OxPolygon, and Arbitrum. BUIDL was first launched on Ethereum in March of this year, and this initiative represents an evolutionary step in tokenization.
Polymarket CEO Shayne Coplan had phone, electronics seized by the FBI
Share link:In this post: The FBI raided the home of Polymarket’s CEO Shayne Coplan, seizing a phone and electronics. The raid was considered a form of political messaging, despite Polymarket’s transparent nature and self-balancing market that cannot be manipulated. Polymarket continues to function, though with only a fraction of its open interest and daily users.
Liberland launches Space Program to drive technological innovation and global collaboration
Share link:In this post: The Free Republic of Liberland launches its space program. The country wants to pioneer technological advancement and global collaboration. The micronation is creating an open platform where nations and private entities can come together, work freely, and drive progress without the constraints of bureaucracy. The space program seeks to accelerate the development of decentralized, pro-freedom solutions in the space industry.
Trending news
MoreCrypto prices
More
