Galaxy Digital backs $50M funding round for crypto staking outfit Figment
The crypto staking service platform is now worth over $500 million and could be looking to expand staff strength and business operations. Mike Novogratz’s investment management firm Galaxy Digital has reportedly participated in a $50 million funding round for Figment, a crypto staking startup.According to Bloomberg on Monday, Galaxy Digital joined investors like Anchorage and Bonfire Ventures in a Series B funding round led by Senator Investment Group and Liberty City Ventures.The company is now reportedly worth about $500 million following the fresh injection of investment capital.....
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Figment said the latest round will enable it to continue developing its blockchain staking, governance and developer tools.
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Robert Ellison noted that a regulatory framework for staking is achievable because the concept is very easy to understand. Cointelegraph's managing editor Alex Cohen interviewed Figment's staking marketing director Robert Ellison at the European Blockchain Convention (EBC) 2022. The duo discussed topics like educating regulators on blockchain and crypto, how businesses navigate uncertain regulatory landscapes and regulating staking. According to Ellision, it's very important to educate regulators in the space to mitigate the risks of them going overboard without understanding the basics.....