ICYMI: Layer 1 blockchain Injective raises $40 million round led by Jump Crypto
Injective, a layer 1 blockchain focused on decentralized finance uses cases, has raised $40 million in a round led by Jump Crypto.Injective, a DeFi-focused layer 1 blockchain, raised a $40 million round in a private token sale led by Jump Crypto.
BH Digital, the digital asset division of billionaire hedge fund manager Alan Howard's Brevan Howard, also took part in the round, which closed in July. The valuation was not disclosed. The deal also comes at a turbulent time in crypto markets, with the price of bitcoin slumped below $25,000 and startup valuations down across the board. According to The Block research, venture capital deals in the blockchain sectorDespite this, Chen thinks now is the optimal time to raise.
Injective plans to do this by using the capital is just raised to create incentives for developers to migrate over to its network. Most recently, Aperture, a dApp previously native to Terra, made the leap to Injective.
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