July 25, 2024
BitFi, a trailblazing CeDeFi platform, has announced the initiation of a seed round fundraising valued at $50 million. The list of confirmed investors features prominent names such as Fundamental Labs, IBC Group Ventures, CGV FoF, TyreGate Capital Group, and Citizen Journalism Network Accelerator (CJNA). Liu Han, the former co-founder and CTO of Ascendex Exchange, is the founder of this platform. Following its initial launch on June 25th, the platform achieved a peak Total Value Locked (TVL) of US$400 million within a single month.
Project | Latest Raise Date | Stage | Category |
|---|---|---|---|
BitFi | July 25, 2024 | Seed Round | DeFi |
BitFi combines the superior aspects of both centralized and decentralized financial solutions to enhance the yields of various assets, including BTC, for its users. It utilizes multi-chain adaptability and advanced off-chain trading strategies to offer secure staking yield and multiple layers of yield generation. The team, which boasts a proven Wall Street background and extensive expertise in quantitative trading, ensures consistent, low-risk returns through neutral quantitative strategies, passive yields on multi-chains, and BitFi platform-specific rewards. This comprehensive strategy establishes BitFi as the top choice for BTC holders looking for optimized returns and secure asset management solutions.
Eric Yang, Managing Partner of Fundamental Labs, expressed his belief in BitFi's potential to revolutionize the CeDeFi field. He is confident that BitFi, with its experienced team, will be a significant player in the Bitcoin CeDeFi ecosystem. He believes that BitFi is well-positioned to cater to the changing needs of BTC holders by providing them with an enhanced experience and maximized returns.
About BitFi
BitFi is an innovative platform that offers a unique combination of security and simplicity for private and enterprise use1\. It’s a hardware wallet that provides a secure interface system for the blockchain, which is considered more secure than any cold storage method. The BitFi protocol secures billions in USD value without storing any sensitive data.
The platform was designed to combine the best aspects of both centralized and decentralized financial solutions. It uses multi-chain adaptability and advanced off-chain trading strategies to offer secure staking yield and multiple layers of yield generation. This comprehensive strategy makes BitFi a top choice for Bitcoin holders seeking optimized returns and secure asset management solutions.
Website: https://bitfi.org/
About Investor
The list of confirmed investors features prominent names such as Fundamental Labs, IBC Group Ventures, CGV FoF, TyreGate Capital Group, and Citizen Journalism Network Accelerator (CJNA)
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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