While the markets are faltering, private funding raised in 2022 is still giving the crypto industry a tremendous boost. Companies are raising big amounts of money in crypto despite this year’s poor performance; data shows 36 capital rounds of over $100 million so far.
The ten largest crypto capital raising in 2022 are shown in Arcane Research’s latest weekly report, which asks, “How long will the money keep coming into this market?”
Source: Arcane Research
The Crypto Market Is Being Pumped Up By Private Capital
The Luna Foundation Guard (LFG) now has BTC 42.53K ($1.62 billion) of its $10 billion aim to backstop the algorithmic stablecoin UST with a significant Bitcoin reserve, out of a total target of $10 billion. This places the organization at the forefront of the crypto industry’s largest capital raises to date in 2022.
LFG is also purchasing $100 million in AVAX tokens to welcome it to the UST reserve, with Terra Labs purchasing an additional $100 million.
Fireblocks, an institutional crypto network, also stands out with a $550 million Series E fundraising round. The Fireblocks platform provides a foundation for transferring, storing, and issuing digital assets. Over 800 financial organizations, including exchanges, loan desks, custodians, banks, trading desks, and hedge funds, use the network and MPC-based wallet.
The company highlighted Dan Sundheim, the founder of an investment group, who stated that “Fireblocks has become a crucial driver of crypto market growth around the world, with an estimated 15% of daily crypto transaction volume safeguarded by their infrastructure,” in the official statement.
In January, FTX, a crypto exchange based in the Bahamas, raised $400 million in a Series C fundraising round, valuing the company at $32 billion. According to FTX, this was their third campaign in less than six months, increasing the total amount raised to about $2 billion.
The $400 million Series A funding round by FTX US, FTX’s American branch, is also mentioned in the public statement.
“All investors interested in the Series C fundraising simultaneously participated” in this funding round, which valued FTX US at $8 billion, according to the business.
Circle, the issuer of USD Coin (USDC), raised $400 million in April from BlackRock, Inc., Fidelity Management and Research, Marshall Wace LLP, and Fin Capital, according to Arcane Research. Circle was valued at $9 billion after this round of funding.
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