Turnkey, a crypto infrastructure company established in 2022 by former Coinbase Custody developers, has raised $30 million in a Series B funding round, bringing its total funding to $50 million. The round was led by Bain Capital Crypto, with participation from Sequoia Capital, Galaxy Ventures, and others. Turnkey focuses on wallet infrastructure, offering embedded wallets that eliminate reliance on vulnerable seed phrases. Clients include Polymarket, Magic Eden, and Alchemy. The company aims to create an open infrastructure layer to advance the crypto ecosystem, drawing parallels to the internet’s development.
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Babylon Labs and Fiamma Collaborate to Enhance Bitcoin Decentralized Finance
Babylon Labs has partnered with Fiamma to enhance a Bitcoin-secured decentralized finance ecosystem, focusing on trust-minimized Bitcoin bridges and integrating zero-knowledge technology through Fiamma’s BitVM2 protocol. This collaboration follows Fiamma’s recent testnet launch for its Bitcoin bridge and aims to expand Bitcoin’s utility in DeFi.In related developments, Heritage Distilling Holding Company has announced a Bitcoin Treasury Policy, planning to accept Bitcoin as payment and hold it as a strategic asset, while Genius Group disclosed a $5 million Bitcoin purchase. These moves reflect a growing trend of integrating cryptocurrency within various industries.
read moreDecentralization and SocialFi: Empowering Users in the Digital Landscape
As profit leaders sell, the price of the Solana meme coin ai16z dips, reflecting broader trends in social media engagement and the shift towards decentralized platforms. Users are increasingly seeking alternatives to traditional social networks, which often censor content and control data. Decentralized solutions like Lens Protocol empower individuals by allowing them to own their content and data, promoting a more equitable digital landscape where users are compensated for their contributions.
read moreAvara Raises 31 Million for SocialFi Layer Two Blockchain Lens
Lens by Avara has secured $31 million in funding, led by Lightspeed Faction, to enhance its SocialFi-focused layer-2 blockchain ahead of its mainnet launch in early 2025. The platform features customizable plug-and-play tools for developers, aiming to provide a user-friendly experience while ensuring data ownership and monetization opportunities. Key partnerships include Alchemy, Chainlink, and Uniswap, with additional backing from notable investors and angel investors.
read morePlume Network Secures 20 Million for Real World Asset Tokenization Platform
Plume Network has secured $20 million in funding to enhance its tokenization platform for real-world assets, led by Brevan Howard Digital and other notable investors. The startup aims to allow tokenized asset holders to use their assets as collateral for loans, following the launch of its testnet and a tokenized ‘Mineral Vault’ for resource interests. With 180 projects already building on its infrastructure, Plume is positioned to capitalize on the growing tokenization market, which has seen significant investments across various platforms.
read moreTaiko Ethereum Network Achieves Record 1000 Percent TVL Growth
Taiko, a Layer 2 Ethereum network, has experienced a remarkable 1,000% surge in Total Value Locked (TVL), reaching $81 million, alongside a record 5 million daily transactions. The network, which launched its mainnet in May 2024 with support from Ethereum co-founder Vitalik Buterin, has attracted 1.2 million unique wallet addresses and over 100 dApps. Financial backing of $37 million from multiple funding rounds has bolstered its growth, while strategic listings, including on Bitget, enhance its visibility in the evolving L2 ecosystem.
read moreLO TECH launches innovative platform for enhanced token liquidity management
Low Observable Technology (LO:TECH) has launched a new Market Making Service (MMaaS) platform, enhancing token liquidity management with real-time visibility and control. The platform features a comprehensive dashboard for clients to optimize their liquidity strategies and offers streamlined exchange relationships, addressing key industry challenges. CEO Tim Meggs emphasized the platform’s potential to transform market-making into a transparent and efficient process, empowering token projects to stabilize their markets and boost user confidence.
read moreSxT Labs Secures 20 Million in Series A Funding for Blockchain Innovation
SxT Labs has raised $20 million in a Series A funding round led by Framework Ventures, bringing total funding to $50 million. The firm is developing a verifiable computing layer that integrates AI and blockchain, with its proof-of-SQL technology processing over 5.3 billion database requests since its beta launch in April 2023. This solution aims to enhance data integrity verification in decentralized finance and other applications, generating over $4.5 million in annual recurring revenue.
read moreTurnkey Raises $15 Million Series A Funding for Crypto Wallet Infrastructure
Turnkey, a leading provider of secure wallet infrastructure for crypto developers, has raised a $15 million Series A funding round led by Lightspeed Faction and Galaxy Ventures. The company aims to solve the crypto user experience problem by offering secure, flexible, and scalable wallet solutions, empowering developers to create seamless onboarding experiences and innovative applications in the crypto space. Co-founded by industry veterans, Turnkey is committed to building a decentralized future and challenging pre-existing notions of blockchain interaction.
read moreEthereum Liquid Staking Project Raises $18 Million in Series A Funding
Puffer Finance, an Ethereum-based liquid staking project, raised $18 million in a Series A funding round led by Brevan Howard Digital and Electric Capital. The project aims to reduce the barrier to entry for individual stakers by allowing Ethereum validators to stake with just 1 ETH, while also enabling them to farm yields in other DeFi protocols. With a total value locked of over $1.2 billion, Puffer Finance’s liquid staking solution has garnered strong demand, contributing to the overall health and resilience of the Ethereum network.
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