<div>
  <p>
  </p>
  <ul>
    <li>
      <p>
        Centrifuge, a real-world asset (RWAs) tokenization protocol, has secured USD 15 million in Series A funding co-led Greenfield and ParaFi Capital, with participation from Borderless Capital, ProtoCap, Edessa Capital, and Wintermute Ventures. This round brings the company's total funding to almost USD 31 million.
      </p>
    </li>
    <li>
      <p>
        The company plans to utilize the raised funds for product development, building new integrations, growing its ecosystem, and expanding its employee base. Furthermore, the company announced that it would be developing an RWA lending protocol for institutions on Base, an Ethereum layer-2 network developed by Coinbase.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://centrifuge.mirror.xyz/krkiQ6wV5zoisxx9PwOYOWwQURRd-iVdQZat4YfyzQ4">
      Press release
    </a>
    <a href="https://www.coindesk.com/business/2024/04/17/tokenized-credit-platform-centrifuge-plans-institutional-rwa-lending-on-coinbases-base-raises-15m-in-vc-investment/?utm_medium=referral&utm_source=rss&utm_campaign=headlines">
      Coindesk
    </a>
    <a href="https://www.axios.com/2024/04/17/centrifuge-15m-seriesa-funding-round">
      Axios
    </a>
  </p>
</div>


Decentralized Finance (DeFi)

<div>

<p>Centrifuge, a protocol for tokenizing real-world assets, has raised $15 million in a Series A investment round. The funding was jointly led by Greenfield and ParaFi Capital, including contributions from Borderless Capital, ProtoCap, Edessa Capital, and Wintermute Ventures. The round of investment grew the company's total funding to approximately $31 million. </p>

<p>The company declared its plans for the newly raised capital, aiming to use it for product development, creating new integrations, expanding its ecosystem, and hiring more employees. Further, it also announced its intentions to develop a lending protocol for real-world assets for institutions on Base, a network based on the Ethereum layer-2 technology, created by Coinbase.</p> 

</div>

Centrifuge raises USD 15 million in Series A funding

ANALYST_QUICK_TAKE

<div>
 
 <p>AtomiqDeFi, a platform that offers DeFi services, has successfully secured a seed funding of USD 3 million. This funding round was spearheaded by X21 Digital and saw participation from other entities such as NXGen, Dutch Crypto Investors (DCI Capital), Spicy Capital, Altcoin Buzz, and AlphaBit fund. Apparently, this successful round of fundraising has significantly contributed to the company's total funds, raising it to USD 4.5 million.</p>
 <p>The enterprise has announced plans to use the funds for the enhancement and development of its product offerings. Additionally, it also looks forward to forging new partnerships with layer-1 launchpads.</p>
 <p>AtomiqDeFi provides a comprehensive suite of DeFi products and services, all built upon MintLayer, a Bitcoin Layer-2 protocol. The following features are included in its offerings: 1) a decentralized exchange that uses Atomic swaps to allow users to trade Mintlayer-based tokens and BTC directly from their wallets; 2) a token launchpad that enables users to introduce new tokens within the ecosystem; 3) a DeFi wallet that supports numerous cryptocurrencies and blockchains; 4) a cross-chain bridge enabling users to swap tokens between Ethereum virtual machine (EVM) compatible blockchains.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> This news adds to a growing trend of Bitcoin layer-2 projects exploring the use of smart contracts to expand the functionality of Bitcoin. The space has also seen recent interest from investors over the last few months, with startups such as <a href="https:<br>
//sp-edge.com/companies/3510832"> OrangeDX </a> , <a href="https:<br>
//sp-edge.com/companies/606656"> Portal </a> , and <a href="https:<br>
//sp-edge.com/updates/25486"> Bitfinity </a> , raising <a href="https:<br>
//sp-edge.com/updates/27699"> USD 1.5 million </a> , <a href="https:<br>
//sp-edge.com/updates/26200"> USD 34 million </a> , and <a href="https:<br>
//sp-edge.com/companies/3408375"> USD 7 million </a> , respectively, and <a href="https:<br>
//sp-edge.com/companies/1930376"> BabylonChain </a> and <a href="https:<br>
//sp-edge.com/companies/3480652"> BounceBit </a> securing an undisclosed investment from Binance. Notably, these developments also coincide with the approval of a number of spot Bitcoin ETFs in January and the subsequent rise in the spot price of Bitcoin <a href="https:<br>
//finance.yahoo.com/news/bitcoin-breaks-time-high-69-153016833.html"> above its previous all-time high </a> early last month.</p>

AtomiqDeFi raises USD 3 million in seed funding

<div>
<p>Uniswap, a decentralized exchange platform, has received a “Wells” notice from the US Securities and Exchange Commission (SEC). This notice indicates the SEC's intention to take enforcement action against Uniswap. The notice suggests that Uniswap is operating as an unregistered securities broker and securities exchange. Uniswap, however, disagrees with this characterisation and plans to contest these allegations.</p>
</div>

Uniswap receives enforcement notice from US Securities and Exchange Commission

<div>
 
 <p>Bitcoin restaking platform, BounceBit, has secured an investment from Binance Labs, the venture capital subdivision of cryptocurrency exchange Binance. The amount invested remains undisclosed.</p>
 <p>BounceBit provides a decentralized finance (DeFi) platform that allows users to generate earnings from staking idle cryptocurrency holdings. Utilizing a proof-of-stake (PoS) consensus mechanism, the platform features a two-token staking system where users can earn yield through staking Bitcoin and BounceBit's native token. Additionally, validating the BounceBit network offers more earning potential. Users can also gain from validating various DeFi and centralized finance (CeFi) projects within the BounceBit ecosystem.</p>
 
</div>
 <p><b>Analyst QuickTake:<br>
</b> This investment marks Binance Lab’s second investment in Bitcoin staking platforms since it <a href="https:<br>
//sp-edge.com/updates/27094"> invested in Babylon in February </a> . While both companies offer similar solutions, BounceBit aims to differentiate itself by enabling users to engage in CeFi arbitrage via an on-chain mirror mechanism supported by Ceffu's off-chain settlement solutions. This investment also adds to the <a href="https:<br>
//www.prnewswire.com/news-releases/bouncebit-raises-6m-in-seed-funding-round-to-build-bitcoin-restaking-infrastructure-302075090.html"> USD 6 million in seed funding </a> raised by the company in February and the <a href="https:<br>
//www.prnewswire.com/news-releases/okx-ventures-announces-strategic-investment-in-bitcoin-restaking-platform-bouncebit-302079520.html"> strategic investment the company received from OKX </a> in March.</p>

BounceBit receives undisclosed investment from Binance Labs

PROMINENT_CATEGORY

<div>
 
 <p>EigenLayer has introduced its protocol on the Ethereum mainnet. The platform will allow users to use staked Ethereum (ETH) to secure auxiliary services such as bridges, exchanges, and pricing oracles. Functions like in-protocol payments and "slashing" however, will be implemented later this year.</p>
 
 <p>Furthermore, the company announced the release of its first actively validated service (AVS): EigenDA. This is a data-storage service designed to help other blockchain protocols store transaction data and other related information.</p>
 
</div>

EigenLayer launches restaking service and EigenDA on Ethereum's mainnet

<div>
 
 <p>Blockchain-based infrastructure provider, QuantAMM, has secured USD 1.85 million in pre-seed funding from multiple investors including 8VC, Mako, Marshland Capital, and 369 Capital. The firm plans to incorporate version one of its platform on Ethereum's mainnet and develop Layer-2 solutions by the second quarter of 2024. Furthermore, QuantAMM intends to launch cross-chain solutions and design an infrastructure bespoke for institutional clients between 2024 and 2025.</p>
 <p>QuantAMM's product suite includes a diverse range of blockchain-based investment infrastructure tools for traders and family office portfolio managers. These tools encompass Blockchain-Traded Fund (BTF) infrastructure, strategy creation instruments, and simulation engines. This enables users to construct on-chain BFTs like index trackers or hedge funds composed of native crypto and tokenized assets.</p>
 
</div>

QuantAMM raises USD 1.85 million in pre-seed funding

<div>
 
 <p>Ellipsis Labs, creators of Phoenix, a cryptocurrency exchange, has raised $20 million in Series A funding. Paradigm led the funding round, with Electric Capital, the Ethereum Foundation, and others participating, bringing the total funding to $23.3 million.</p>
 <p>The company will utilize the funds to develop its DeFi technology stack further.</p>
 <p>Phoenix, developed by Ellipsis Labs, is a decentralized exchange platform on the Solana blockchain. It allows users to trade various cryptocurrencies, and it features an on-chain order book and tools for monitoring on-chain market event data.</p>
 
</div>

Ellipsis Labs raises USD 20 million in Series A funding

<div>
 
 <p>Merkle Trade, a decentralized trading platform, raised USD 2.1 million in seed funding in a round led by Hashed and Arrington Capital. Other participants included Morningstar Ventures, Amber Group, Aptos Labs, Re7 Capital, and Dorahacks.</p>
 <p>The raised funds will be used by the company to enhance the gamification and social features of their platform, including an NFT items marketplace, trading battles, and copy trading features. The platform aims to improve its user onboarding process by enabling non-web3 native users to access the platform without custodial wallets.</p>
 <p>As a blockchain-based derivatives platform, Merkle Trade allows users to trade a variety of cryptocurrencies, forex, and commodities. The platform houses several gamified features such as level-up systems offering trading benefits, and loot boxes that include NFT items as rewards. Users are enabled to trade across platforms like Aptos, Ethereum, Polygon, Arbitrum, Optimism, and Binance Smart Chain, providing up to a 1000x leverage.&nbsp;</p>
 
</div>

Merkle Trade raises USD 2.1 million in seed funding

<div>
 
 <p>US federal prosecutors have charged cryptocurrency exchange KuCoin and its two founders with violations of anti-money laundering laws. The charges are based on allegations that the exchange operated in the US without registering with the required government entities or maintaining an anti-money laundering (AML) program.</p>
 <p>According to the US Department of Justice (DoJ), KuCoin didn't implement a know-your-customer (KYC) or AML program until 2023. Neither did it register with the US Financial Crimes Enforcement Network as a money services business. The DoJ's indictment also alleges that the exchange served as a vehicle for money laundering due to the late implementation of these programs and their non-application to already existing customers.&nbsp;</p>
 <p>The Commodity Futures Trading Commission (CFTC) has also lodged a complaint against the company. It accuses KuCoin of neglecting to register as a futures commission merchant, swap execution facility, or designated contract market. The DOJ is now seeking forfeiture and criminal penalties, while the CFTC aims for fines, trading and registration bans, and an injunction.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Regulatory concerns remain pervasive for crypto exchanges operating in the US. Since last year, KuCoin has undergone a number of legal troubles as a result of a lack of compliance with US government regulations. This news came around three months after the company <a href="https:<br>
//sp-edge.com/updates/24832"> discontinued its services for New York customers </a> as a result of the settlement of a lawsuit filed by the attorney general of the state.</p>

KuCoin charged with violating US anti-money laundering laws

<div>
 
 <p>Rails, a decentralized exchange platform, has successfully raised USD 6.2 million in a funding round led by Slow Ventures. Additional contributors to the funding included CMCC Global, Round13 Capital, and Quantstamp.</p>
 <p>The obtained resources will be dedicated to expanding Rails' engineering team and for settling regulatory compliances. They have delineated their plan to release the platform in selective crypto-compatible countries in the last quarter of 2024. Post-launch, the company plans to broaden their social features and establish partnerships with other blockchain firms for mutual product development.</p>
 <p>Rails platform offers a non-custodial decentralized exchange service that empowers users to trade manifold crypto-based derivatives products. It furnishes a high-frequency matching trading engine and is primarily targeted towards institutional clients. The platform, having amassed just over 10 million in private capital placements, is set to begin its beta testing phase in May.</p>
 
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All Updates