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Liquidity Group Plans $3 Billion Emergency Loans To Aid Start-Ups Hit by SVB
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Global asset manager and tech lender Liquidity Group is planning to offer about $3 billion in emergency loans to start-up clients hit by the collapse of Silicon Valley Bank.
Liquidity has about $1.2 billion ready in cash to make available in the coming weeks, Chief Executive Officer and co-founder Ron Daniel said in an interview on Sunday. The group is also in discussions with its funding partners, including Japan’s Mitsubishi UFJ Financial Group Inc. and Apollo Global Management Inc., to offer an additional $2 billion in loans, he said.
Singapore-based decentralized multi-chain trading platform, Uxuy, has secured $7M in Pre-A funding from a range of investors including Binance Labs, Matrix Partners, and GBV Capital. The funds will be used to facilitate low-cost transactions of various assets across different blockchain networks. Uxuy, which is incubated by Binance Labs, aims to provide users with a seamless trading experience.
Bitcoin native application platform Arch developer Arch Labs announced the completion of a $7 million seed round of financing, led by Multicoin Capital, with participation from Portal Ventures, OKX Ventures, Big Brain Holdings, CMS Holdings and Tangent.
AgriDex, a tokenization platform on the Solana blockchain, announced the completion of a $5 million Pre-Seed round of financing, led by Endeavor Ventures, with participation from African Crops Limited, Oldenburg Vineyards, and former Goldman Sachs and Citadel executive, Hank Oberoi. It is reported that AgriDex is expected to launch its platform and token, AGRI, in the third quarter of this year. According to its white paper, AgriDex has reserved 5% of the total token supply, or 50 million tokens out of 1 billion tokens, for airdrops.
UXUY, the next-generation decentralized multi-chain trading platform incubated by Binance Labs, announced the completion of a $7 million Pre-A round of financing. Since its establishment, its total financing amount has exceeded $10 million. UXUY is an important builder of the Bitcoin ecosystem, and more than 100,000 traders use Bitcoin Lightning Network services through UXUY. UXUY's current round of financing has received investment from well-known institutions in Asia, North America, and Europe, such as Binance Labs, UTXO Management (Bitcoin Magazine), JDI Ventures, Bixin Ventures, SWC Global, Matrix Partners, CMS Holdings, Dewhales Capital, Comma3 Ventures, Satoshi Labs, YBB Capital, GBV Capital, Web3Vision, Pentos Ventures, NGC Ventures, Alti5, Metalpha, and GSR. The funds raised by UXUY in this round will be used for the construction of the Bitcoin ecosystem infrastructure, and will be committed to promoting the efficient and low-cost trading of Lightning Network Taproot Assets, Ordinals BRC-20, Runes, and other assets. Jordan, co-founder of UXUY, said: "We are pleased to be strategic partners with all investors! This year, we have successfully built a bridge between the Bitcoin Lightning Network and the multi-chain ecosystem. UXUY will continue to promote the use cases and popularization of the Lightning Network in trading scenarios, and make more contributions to the Bitcoin ecosystem." According to RootData, a Web3 asset data platform, UXUY is a next-generation decentralized multi-chain trading platform based on MPC wallets. UXUY actively participates in the construction of the Bitcoin Layer2 ecosystem, fully integrates into the Bitcoin Lightning Network and Taproot ecosystem, provides Lightning Address DID services to users, and becomes an important bridge connecting the Bitcoin and Ethereum ecosystems. As a decentralized multi-chain trading platform, UXUY provides immediate cross-chain trading services for Coin, Token, and Inscription among public chains through the establishment of uPool.
According to Cointelegraph, Web3 game developer Seeds Labs has announced the completion of a $12 million seed round financing, with participation from Avalanche's Blizzard Fund, Solana Foundation, Krust, Hashkey Capital, UOB Ventures, Signum Capital, IVC, and Emoote.It is reported that Seeds Labs, a Solana ecosystem game infrastructure developer, was established in 2021, and its Web3 game Bladerite is scheduled to be released this month.
Peter Thiel's Founders Fund led a seed funding round of $13.2 million for the cryptocurrency startup Lagrange Labs. In addition to Founders Fund, the seed funding for Lagrange also included participation from Archetype Ventures, 1kx, Maven11, Fenbushi Capital, Volt Capital, CMT Digital, Mantle, and Ecosystem.
Arbelos completed a funding round of $28 million, led by Dragonfly with participation from FalcolnX, Circle, Paxos, Polygon, and Deribit. Arbelos Markets will primarily focus on derivatives and over-the-counter trading for institutional participants, providing trading liquidity for companies such as hedge funds and venture capital firms as counterparties for popular products such as options and futures.
Monzo, a new bank in the UK, has raised $190 million in funding with Hedosophia and CapitalG (Alphabet's independent growth fund) leading the way. This latest funding round brings Monzo's total funding for the year to $610 million, with a post-funding valuation of $5.2 billion. Monzo CEO and co-founder TS Anil stated that the plan is to use this cash to create new products and accelerate international expansion plans.
Lava Foundation, the developer of modular blockchain network Lava, announced the completion of a $11 million financing round. Participants included Animoca Brands, Gate.io Ventures, CoinGecko Ventures, Polygon co-founder Sandeep Nailwal, Ash Crypto, CryptoLark, and media outlets Crypto Times Japan, Le Journal Du Coin and The Rollup. It is reported that the mainnet launch and airdrop are expected to take place in the coming months.
According to The Block, Bitcoin layer-two network ZKM announced the completion of a $5 million Pre-A financing, led by OKX Ventures, with participation from Amber, Metis Foundation, Crypto.com, and other companies. It is reported that ZKM is a zero-knowledge proof-based network aimed at unifying blockchains and creating a settlement layer on Ethereum.
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