Sequoia China leads $25M equity round for DeFi wallet DeBank
Co-founded in 2018 by Chinese R&D expert Tang Hongbo, DeBank allows users to track 798 protocols across 17 chains. DeBank, a cryptocurrency wallet focused on decentralized finance (DeFi) solutions, has closed new funding led by major venture capital firm Sequoia China.The firm announced Tuesday on Twitter that it raised $25 million, bringing DeBank’s total valuation to $200 million.Apart from Sequoia China, the funding round featured major crypto investment firms like Dragonfly, Hash Global and Youbi.The raise also included strategic funding from Coinbase Ventures, Crypto.com exchange,....
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The decentralized finance (defi) portfolio tracking startup Debank raised $25 million from investors according to an announcement on Tuesday. Following the equity financing round, Debank says it has an overall valuation of around $200 million.
Defi Dashboard Debank Raises $25 Million
2021 was a good year for venture capital (VC) entering the crypto and blockchain space. Estimates show that VCs invested roughly $30 billion into the crypto industry. The $30 billion invested in crypto and blockchain is four times larger than the investments made in 2020.
Debank has....
Venture capital firms allocated $25.2 billion towards blockchain and cryptocurrency projects in 2021, the highest on record. American venture capital firm Sequoia Capital has launched a new cryptocurrency fund as part of its ongoing efforts to bootstrap the next generation of promising crypto-focused startups.Bloomberg reported Thursday that Sequoia is allocating up to $600 million towards the new sector-specific fund. Shaun Maguire, a partner at Sequoia, described crypto as a “megatrend over the next 20 years” and called it “the future of money.”The new crypto fund is part of three new....
The company confirmed its bet on the crypto space with its latest investment partners. Citadel Securities announced that VC firms Sequoia and Paradigm made a $1.15 billion combined minority investment in the market maker, bringing its valuation to $22 billion. The partnership with Paradigm, a Web3-focused investor, signaled Citadel Securities’ shift toward new asset classes such as crypto.Sequoia, who led the round, with investment from Sequoia Heritage, Sequoia Capital Global Equities and the Global Growth Fund, will also get a seat on the Citadel Securities Board of Directors for Sequoia....
Sequoia China is known for backing many crypto firms, including the troubled crypto lender Babel Finance, which halted withdrawals in mid-June. Sequoia Capital China, the Chinese affiliate of cryptocurrency-friendly venture capital firm Sequoia Capital, is about to raise $9 billion for its four new funds focused on Chinese startups.In raising the capital, Sequoia China has already exceeded its initial target of roughly $8 billion, The Information news agency reported on July 4, citing two people familiar with the matter.The report notes that the final amount of the raise is supposed to be....
Per a press release, Ethereum second layer solution StarkWare has completed a $50 million Series C funding round led by Sequoia Capital. A few months ago, the company conducted a Series B round securing $75 million. Thus, the company has an estimated value of $2 billion. Related Reading | Ethereum Fees Spike Significantly Following Success […]