February 5, 2025
Taproot Wizards, a project dedicated to advancing Bitcoin’s protocol features, has closed a $30 million Series A funding round. The round was led by Standard Crypto, a firm with significant investments in the Bitcoin ecosystem, and supported by several other notable funds, including CyberFund, Geometry, and ColliderVC. This latest investment will fund the team’s continued development efforts, with a focus on activating OP_CAT, a proposed Bitcoin protocol feature.
The Taproot Wizards initiative began two years ago, garnering attention within the Bitcoin community after inscribing the first 4MB block in Bitcoin’s history. This achievement marked a significant technical milestone for the project, which has since focused on building tools and protocols to enhance Bitcoin’s functionality. The team aims to use the new funding to further its development work and address emerging challenges in the Bitcoin ecosystem, including optimizing the network for greater efficiency.
The Series A funding allows Taproot Wizards to expand its technical efforts and push forward with its strategy to activate OP_CAT. The project’s leadership, including team members like Udi Wertheimer, emphasized that the funding would also be used to ensure the broader Bitcoin network benefits from these protocol advancements.
About Taproot Wizards
Taproot Wizards is a protocol development group focused on improving the Bitcoin network through advanced features and enhancements. The team’s work includes significant contributions to the Taproot upgrade and ongoing efforts to expand Bitcoin’s capabilities through new technical initiatives.
Website: https://taprootwizards.com/
X: @TaprootWizards
About Investor
Standard Crypto
Standard Crypto is a venture capital firm based in San Francisco, California. The firm specializes in blockchain and cryptocurrency investments, with a focus on supporting projects that drive innovation and growth within the Bitcoin and broader blockchain ecosystems.
Location: San Francisco, California
Website: https://www.standardcrypto.vc/
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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