Trade-in digital currencies Bitmart is in talks to fund $20 million at a pre-cash valuation of $300 million. According to the sources, Alexander Capital Ventures, which has backed Airbnb and Spotify, is in talks with Bitmart to lead its Series B investment.
- Funds: According to Crunchbase, Bitmart has raised around $ 10 million in previous funding rounds. Bitmart, a cryptocurrency exchange, has raised $300 million in funding. Bitmart CoinGecko, one of the top 15 exchanges by volume in the world, did not reply to requests for comment.
- Equity: According to persons familiar with the situation, New York-based private equity company Alexander Capital Ventures is in talks with BitMart to lead the Series B investment round. BitMart has raised a total of $10 million in prior fundraising rounds, with a 24-hour trading volume of over $1.5 billion.
- Announcement: The exchange is based in New York, Singapore, Seoul, and Hong Kong, and is registered in the Cayman Islands. It announced at the end of September that it would take away all user accounts registered in mainland China by November 30 and stop offering services to those users.
- Offerings: The exchange – which offers spot trading, leveraged futures trading, lending, and staking services for both retail and institutional investors – posted $ 65 million in revenue in the first half of 2021, sources said, requesting anonymity. as the details are private.
- Assurance: To assure the system’s security, stability, and scalability, BitMart uses an innovative multi-layer and multi-cluster system design. Its blockchain nodes use hot/cold wallet technology, with secret keys and addresses operating modes designed for blockchain features to protect the security of users’ funds.