Puttin’ That BOP In It

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Paul here, reporting to you during the week of July 19th.  Great News — Investors have delivered some BOP to Defi and Blockchain projects this week with another billion going to work in the space. This time its DriveWealth which pulled in the lion share ($400 Million) to help fuel the boom in retail stock trading. In stride, LMAX Group headed up by David Mercer, pulled in $300 Million to become the preeminent player in global capital markets as well as the market leader of FX and cryptocurrency trading. 

Here is a summation of this week’s major news: 

Low Tier ($12.5MM)

Harmony announced a $1MM hackathon aimed at merging traditional finance and DeFi.

iM Intelligent Mining raised $2.5MM for eco-friendly Crypto mining

Bitcoin interoperability platform Interlay raised $3MM in seed funding

1inch Foundation launched $3MM grants program for DeFi developers

FLURRY Finance raised $3MM from iconic VCs. 

Mid Tier ($141MM)

Australian-based virtual horse racing platform (Virtually Human Studio) raised $20MM in Series A funding from The Chernin Group, Andreessen Horowitz, and others

Crypto Venture Studio Thesis raised $21MM and plans to launch a new wallet

Blockchain interoperability protocol Axelar raised $25MM in Series A funding

Crypto Wallet Password Manager (Magic) raised $27MM from Alexis Ohanian, Balaji Srinivasan, and more. 

SoftBank to put $75MM into Peter Thiel-backed Crypto exchange Bullish

High Tier ($1.35B)

Despite slowing NFT activity, OpenSea became the next Crypto unicorn with $100MM round

Polygon sets Up $100MM fund for NFT gaming projects

TaxBit achieves unicorn status through latest $100MM funding round

Terraform Labs gets $150MM investments from major Crypto players

Aussie Bitcoin miner (Iris Energy) to reportedly raise $200MM ahead of Nasdaq listing

Financial services investor J.C. Flowers & Co. takes a $300MM stake in institutional-focused LMAX Group.

DriveWealth set to raise up to $400MM from SoftBank and Insight Partners

Crypto companies raked in record-breaking $4.4B in Q2 alone. Every week, it’s nearly $1B or more that’s being directed to building platforms that support the movement of money, games, taxes, etc. Fast forward a decade and the financial landscape will be drastically different than it is today. 

Let’s keep the party going by reading, watching, and listening to what’s happening in the investment space. Until next time, have a great weekend!

 

Paul McNeal
Paul McNeal

Paul McNeal aka “The Crypto Curator” is a Speaker, Brand Evangelist, and Technologist. He spent the earlier part of his career serving in the United States Navy Submarine Force working in communications. He co-founded a content curation startup that grew rapidly and was recently acquired. He was an early adopter of Bitcoin, becoming aware of it in 2011, and has since continued to monitor the developments of Blockchain Technology daily. Paul’s curation is hand-selected daily, and is featured in our newsletter and website every Friday!

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