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FTX To Raise $1 Billion, Bit Green and Several Other Projects Announce Successful Rounds –

FTX To Raise $1 Billion, Bit Green and Several Other Projects Announce Successful Rounds –

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FTX, a popular crypto exchange, recently announced plans to raise $1 billion. In other news, Bit Green, ImmuneFi, Hyperlane and Binocs completed successful funding rounds amid the crypto winter.

FTX plans to raise $1 billion at a $32 billion valuation

FTX recently announced plans to raise over $1 billion in funding to reach a $32 billion valuation. According to recent reports, Sam Bankman-Fried’s company is in talks with several investors looking to raise $1 billion in a venture capital round.

Negotiations on the fund are still ongoing, and the terms are not yet final, according to reports.

Since the dawn of crypto winters in May, FTX has acted as a market unifier, helping many struggling companies. FTX signed a deal with struggling loan company BlockFi a few months ago. They also offered to bail out Voyager Digital and Bithumb. However, FTX plans to use the $1 billion and $400 million raised earlier this year to make new deals.

Bit Green raises $5 million in venture round

In a recently concluded project round, Bit Green, a US climate investment blockchain network, raised $5 million. According to reports, the funds were raised through the popular crowdfunding platform Republic.

Their press release indicates that Bit Green plans to use the funds to implement a sustainability-focused platform based on Polkadot.

Bit Green was launched to help manage the ongoing climate crisis and environmental degradation. Its PoS blockchain consumes 99.9% less energy than the average blockchain; This is why Bit Green’s carbon footprint is very small, almost non-existent.

Speaking about Bit Green’s goal, network CEO Adam Carver said;

“Climate change is the most pressing issue of our time and fits perfectly with one of the most revolutionary technologies of our time, blockchain. The effects of climate change will be pervasive, so we are not surprised that we received support at such an early stage and oversubscribed our Crowd Fund. Our goal to raise $1 trillion for impact initiatives and climate projects resonates with people. It’s a scary and wild goal, but we’re convinced that now is the time to turn to the fence and rely on the power of blockchain and web3 to coordinate resources like never before.”

ImmuneFi raised $24 million in Series A round

ImmuneFi, a tri-network security platform, recently announced the successful closing of a Series A funding round, raising $24 million. Framework Ventures led this round with participation from Electric Capital, Samsung Next, P2P Capital, Polygon Ventures, North Island Ventures, Lattice Capital, Third Prime Ventures and Stratos DeFi.

ImmuneFi has a large team of white hat hackers who scan project codes to find vulnerabilities. It is trusted by several top networks including Compound, MakerDAO, Chainlink, Synthetix and many others. Project founder and CEO Mitchell Amador said;

“Open source and directly commercialized benefits have made web3 the world’s most opposite software development environment. By shifting incentives to white hats, Immunefi has already saved billions of dollars in user funds. Crypto projects are quickly realizing that it’s better to use Immunef than end up publicly begging hackers to return funds or pay ransom. We will use this increase to scale our team to meet this huge demand.”

Hyperlane raised $18.5 million in a seed round

Hyperlane, a platform designed to help developers connect applications between different blockchain networks, recently announced that it has closed a funding round raising $18.5 million. The round was led by Variant Fund, which was attended by e.g. Figment, Blockdaemon, Kraken Ventures Circle and NFX.

Hyperlane builds a platform with a secure infrastructure to enable developers to create secure cross-chain applications. Jon Kol, co-founder of Hyperlane, recently said;

“We believe that currently there is so much burden on the app developer to understand the nuances of the chain[s], where they can’t spend as much time building the best app. So we want to give them the tools to give their users the best user experience.”

Binocs raises $4 million in funding round

Binocs, a crypto-reporting tax app, just recently closed a funding round that raised $4 million. This funding round was co-led by Arkam and Beenext with investments from Saison Capital, Accel and Better Capital.

Binoc was founded by Tonmoy Shingal and Pankaj Garg to help crypto investors deal with their tax affairs. Shingal, CEO of Binoc recently said;

“Crypto is basically a web3 currency, but it has to adhere to web2 accounting principles and compliance. We will cross this gap. Our software complies with the latest regulations, which ensures that our Users can calculate their taxes efficiently.”

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