Bitcoin Company NYDIG Raises $1B At $7B Valuation
NYDIG aims to be the leading provider of Bitcoin services in “any industry,” according to its CEO.NYDIG has raised an impressive $1 billion in a funding round led by WestCap.The institutional bitcoin broker is now valued at $7 billion.WestCap led what is likely the largest funding round in the history of Bitcoin.NYDIG has raised $1 billion in a new funding round led by growth equity firm WestCap, valuing the company at a whopping $7 billion, the company said in a statement Tuesday.Bessemer Venture Partners and FinTech Collective also participated in the round, helping finance the bitcoin....
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The company stated its goal is to enable access to Bitcoin financial services for everyday individuals. On Tuesday, New York Digital Investment Group, or NYDIG, a financial institution specializing in Bitcoin financial services such as savings accounts, trading brokerages, 401(k)s, etc., announced it had secured a $1 billion equity investment led by WestCap. The funding places its valuation at nearly $7 billion.The firm has proved to be popular among institutional investors. Last year, Stone Ridge, a $10 billion asset manager, purchased 10,000 Bitcoin (BTC) via NYDIG's services. NYDIG is....
New York Digital Investments Group (NYDIG) raised $150 million for two new funds to invest in cryptocurrencies, a move that underscores the one-stop crypto shop’s skyrocketing clout on the institutional bitcoin scene. As revealed in two U.S. Securities and Exchange Commission filings, NYDIG Digital Assets Fund I raised $50 million from institutional investors while NYDIG […]
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Crypto investment provider NYDIG raised an additional $100 million in growth capital earlier this week. The new funding round featured MassMutual, Stone Ridge Holdings, New York Life, and Liberty Mutual Insurance, among others as strategic partners. This follows the investment firm’s $200 million cash injection back in early March. In the previous funding round, Robert Gutmann, CEO of NYDIG, stated that the additional funds would be used to develop “Bitcoin-related strategic initiatives spanning from investment […]