Matrixport’s Ambitious Funding Plan
In a daring move that mirrors the audacity of its founders, Matrixport, the brainchild of Bitmain co-founder Wu Jihan, is not backing down in the face of a tumultuous crypto market. The firm is currently eyeing a hefty $100 million in new funding, with lead investors already committing $50 million. How’s that for confidence when the market feels like it’s free-falling?
In Search of The Missing Half
As reported on November 25, Bloomberg has the scoop that this funding round is valued at an impressive $1.5 billion. However, the deal isn’t locked in just yet; Matrixport is still courting potential investors to fill that pesky remaining half. But hey, with that kind of valuation, they might as well sparkle while they search!
Business as Usual? You Bet!
According to Matrixport’s public relations head, Ross Gan, this funding round is simply par for the course. “Matrixport routinely engages with key stakeholders as part of its normal course of business,” he reassured us, likely twirling a pencil in his hand. This casual approach suggests that despite the surrounding chaos, their poker face remains strong. Who wouldn’t want to be a part of this digital asset financial services bonanza?
A Glance Back: The Unicorn’s First Round
Flashback to August 2021, a blissfully naive time when Matrixport raised $100 million in a Series C round, officially becoming a unicorn with a valuation of $1 billion. The checks were signed by some big players like DST Global Partners and Tiger Global. What a delightful soirée that must have been!
A Resilient Fortress Amidst the Storm
As one of the largest cryptocurrency lenders in Asia, Matrixport has managed to evade the bullets flying in the crypto crisis that has taken down some giants like Celsius and BlockFi. With a whopping $5 billion in trades each month and tens of billions in assets under management, it seems like this firm has found the superhero cloak it needed. Even in the chaos of the FTX fallout, their damage control was commendable. Just 79 users felt the burn after the infamous Sam Bankman-Fried saga erupted. Matrixport’s lawyers are probably huddled up, working on products to further cushion their users against market shocks.
Final Thoughts: Confidence is Key
As Matrixport moves forward, the bold fundraising and resilient structure may very well set the company apart in a tumultuous market. With their products carefully segregated, allowing one to suffer does not spell doom for the others. It’s like saying: “Don’t worry, your salad won’t taste like the burnt steak the chef accidentally mixed up!” Matrixport’s strategic foresight could serve as a model for aspiring crypto ventures everywhere.
