This Week’s Top Deals, Major Investments in AI, IT, Web3, and Crypto (06-10.04)
In Brief
May saw significant investment deals in crypto and Web3 sectors, including $7 million for the Bitcoin DeFi platform by Arch Labs, $28 million for Arbelos Markets, and $118 million for Hong Kong’s ETF liquidity fund.
The first week of May brought notable investment deals in the crypto and Web3 space. Arch Labs secured a $7 million funding round, led by Multicoin Capital, to create a native Bitcoin DeFi platform. Arbelos Markets raised $28 million to enhance its cryptocurrency futures and options trading, with Dragonfly Capital as a key investor. Hong Kong launched its first-ever ETF liquidity fund worth HK$1 billion ($118 million) to boost cryptocurrency ETF trading. Tether, a major stablecoin issuer, expanded its investment in CityPay.io to drive cryptocurrency in Eastern Europe.
Arch Labs Secures $7 Million Investment to Build Native Bitcoin DeFi Platform: Multicoin Capital Leads Fundraising Round
Arch Labs has obtained a $7 million investment to create an application platform native to Bitcoin. Multicoin Capital spearheaded the seed fundraising round. With no need for intermediary layers or bridges, the money will go toward advancing Arch’s development of dApps directly on the Bitcoin blockchain. By hiring more experienced engineers, Arch Labs hopes to promote the development and improvement of decentralised apps more quickly. The platform has a decentralised verifier network and a parallelised PoS mechanism with a zkVM based on Rust.
Arbelos Markets Raises $28 Million to Boost Cryptocurrency Futures and Options Trading. Dragonfly Capital Leads Financing Round
In an anticipated financing round, Arbelos Markets, a main trading business for cryptocurrencies, raised $28 million. By providing experienced investors with cryptocurrency futures and options that meet their needs for hedging and liquidity, the business sought to close the gap created by the recent market upheaval. The crowdfunding initiative comprised debt and seed equity investment, with Dragonfly Capital, a major cryptocurrency venture capital firm, playing a key role. Arbelos is a major source of options block liquidity in both centralised and on-chain swaps and options exchanges. In just the first half of the year, the company’s derivatives trading activity surpassed $25 billion. For the second consecutive month, VC financing for cryptocurrency has surpassed $1 billion, indicating sustained investor interest in the space.
Hong Kong Launches HK$1 Billion ETF Liquidity Fund to Boost Cryptocurrency ETF Trading Activity
The first-ever ETF liquidity fund, worth HK$1b ($118m), became available in Hong Kong. The fund was established by LD Capital, Antalpha Ventures, and quant trading company Highblock with the goal of increasing market activity for Hong Kong cryptocurrency exchange-traded funds. By gathering investor money to purchase and sell shares of particular ETFs, ETF liquidity funds serve as market makers, facilitating a more liquid market for the target ETF. The debut coincides with Hong Kong’s ambition to become a hub for digital assets; $230 million in assets are already under administration for a number of bitcoin exchange-traded funds (ETFs). With $116 million and $19 million invested in its Ethereum ETF and Bitcoin ETF, respectively, China Asset Management is at the front of the field.
Tether Expands in Eastern Europe by Investing in CityPay.io
To support its Eastern European development, Tether has increased its capital investment to CityPay.io, a bitcoin payment firm located in Georgia. Customers may pay for services using crypto, thanks to CityPay.io. The company plans to provide its card and electronic wallets over the following two years. In the authorised expansion zones, the business also plans to open more than 500,000 crypto payment outlets. The latest investment builds on the successes of Tether’s previous collaboration with CityPay.io, which extended the use of cryptocurrency in a useful way throughout Georgia.
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About The Author
Viktoriia is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
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Viktoriia is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
