Overview of the financing of 20 crypto companies in 2021: FTX’s total financing amount reached 1.32 billion US dollars, ranking first
In 2021, with the continuous development of the encryption market, more and more funds will flow into the encryption industry, including financing events of hundreds of millions of dollars. According to the statistics of Chain Catcher, at least 20 companies/projects in the encryption industry have received more than US$200 million in financing this year, among which FTX, NYDIG, and DCG ranked the top three in terms of financing amount, each exceeding US$1.3 billion.
In terms of investment institutions, a16z participated in the investment of 5 companies/projects, Tiger Global participated in the investment of 4 companies/projects, and Coinbase and Ribbit Capital invested in 3 companies/projects respectively.
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FTX was established in May 2019. Its trading volume has long been among the top five cryptocurrency exchanges. Its products cover spot trading, derivatives trading, leveraged tokens, prediction markets, stock tokens, etc. The latest round of financing has a valuation of 25 billion Dollar.
FTX was established in May 2019. Its trading volume has long been among the top five cryptocurrency exchanges. Its products cover spot trading, derivatives trading, leveraged tokens, prediction markets, stock tokens, etc. The latest round of financing has a valuation of 25 billion Dollar.
FTX’s Series B financing this year was led by Paradigm, Sequoia Capital, Multicoin Capital, Thoma Bravo, Ribbit Capital, Insight Partners, Third Point, Lightspeed Venture Partners, Altimeter, BOND, NEA, Coinbase Ventures, Willoughby Capital, 40North, Senator Investment Group, More than 60 investors including Sino Global Capital and Circle participated in the investment, raising a total of US$900 million.
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NYDIG was founded in 2017 and is headquartered in New York, USA. It mainly provides traditional financial companies with comprehensive and institutional-level solutions for Bitcoin, including purchase, custody, and transaction of Bitcoin. It was valued in the latest round of financing Over $7 billion.
NYDIG was founded in 2017 and is headquartered in New York, USA. It mainly provides traditional financial companies with comprehensive and institutional-level solutions for Bitcoin, including purchase, custody, and transaction of Bitcoin. It was valued in the latest round of financing Over $7 billion.
NYDIG will complete three rounds of financing in 2021: the investors in the first round of financing are Stone Ridge Holdings Group, Morgan Stanley, New York Life, MassMutual Life, Soros Fund Management Company and FS Investments, with a financing amount of US$200 million.
A month later, it received another $100 million in investment. This round of financing came from strategic partners, including insurance companies Starr Insurance, Liberty Mutual Insurance and other insurance companies.
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Third place: Digital Currency Group (DCG), with a total funding of $1.3 billion
DCG was founded by founder Barry Silbert in New York, USA in 2015. Its business is to establish, acquire and invest in blockchain/cryptocurrency companies around the world. At present, DCG has provided support for more than 160 companies in more than 30 countries, covering media, payment, exchanges and other fields in the cryptocurrency industry. The well-known subsidiaries of DCG include: Grayscale, a digital asset management company, GenesisTrading, a digital currency broker, CoinDesk, a blockchain media platform, and Foundry, a bitcoin mining company. The company is currently valued at $10 billion.
DCG has conducted two rounds of financing in 2021. The first round of financing raised US$700 million. This round of financing was led by Vision Fund 2 and Latin America Fund of SoftBank Group Corporation, GIC Capital, Ribbit Capital and CapitalG of Alphabet Inc. Participate in voting.
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Fourth place: Forte, with a total financing amount of US$910 million
Forte was founded in 2019 by a team of founders composed of several senior game industry professionals. It aims to create an application platform for game developers to accelerate the implementation of blockchain technology to support the peer-to-peer economic system in existing and new games. The Forte team has developed several leading technology platforms for the game industry, and the games developed in the past have also been popular with hundreds of millions of players around the world. There are currently more than 40 game developer partners.
In 2021, the company completed two rounds of financing. The A round of financing was led by Griffin Gaming Partners, with participation from Union Grove Venture Partners, Andreessen Horowitz (a16z), Battery Ventures, and early-stage venture capital firm Canaan, with a financing amount of US$185 million.
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Fifth place: Celsius Network, with a total financing amount of $750 million
Founded by Alex Mashinsky in 2017-18, Celcius Network is a cryptocurrency lending platform. It is like a bank in the cryptocurrency market. On the one hand, it provides depositors with interest, and on the other hand, it also earns interest by providing lending services. It is a very old and effective business model, but the difference between Celsius and traditional banks is that what it lends is cryptocurrency. According to the information provided by Celsius, as of mid-October 2021, there are a total of 1,180,000+ users, including nearly 420,000 active users, and a total of $26,400M worth of assets under management.
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Founded in 2019, Sorare is a blockchain-based football game platform that represents football stars through NFT, allowing players to purchase NFT virtual football star cards that have been certified by football clubs or football leagues on Sorare's game platform , and then form their own teams to participate in various football matches on the platform to reshape the way football fans communicate. Currently, the company is valued at $4.3 billion.
Founded in 2019, Sorare is a blockchain-based football game platform that represents football stars through NFT, allowing players to purchase NFT virtual football star cards that have been certified by football clubs or football leagues on Sorare's game platform , and then form their own teams to participate in various football matches on the platform to reshape the way football fans communicate. Currently, the company is valued at $4.3 billion.
The platform will complete two rounds of financing in 2021. The first round of financing is 50 million, led by Uber's early backer and venture capital firm Benchmark, with venture capital firm Accel, Barcelona striker and Messi teammate Antoine Griezmann participating.
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Founded in February 2018, Dapper Labs is a blockchain game developer that aims to bring the advantages of decentralization to 1 billion consumers through the power of games. Dapper Labs is famous for producing NBA Top Shots NFT card collection projects, and is also the developer of well-known games such as Cryptokitties. It officially launched the Flow public chain at the beginning of this year, and its current valuation is 7.6 billion US dollars.
Founded in February 2018, Dapper Labs is a blockchain game developer that aims to bring the advantages of decentralization to 1 billion consumers through the power of games. Dapper Labs is famous for producing NBA Top Shots NFT card collection projects, and is also the developer of well-known games such as Cryptokitties. It officially launched the Flow public chain at the beginning of this year, and its current valuation is 7.6 billion US dollars.
The company will complete two rounds of financing in 2021. The first round of financing was led by the investment company Coatue, and NBA stars such as Michael Jordan and Kevin Durant also participated in this round of investment;
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Eighth place: Bitpanda, with a total funding of $445.16 million
Founded in 2014, Bitpanda was formerly known as Coinmal. Bitpanda is an Austria-based cryptocurrency trading platform that provides user brokerage services for Bitcoin and other digital assets. Bitpanda has a wallet and trading platform that enables users to buy and sell cryptocurrencies using Euros, credit cards, Skrill, SEPA transfers, and more. It is understood that Bitpanda currently has more than 3 million total users, supports more than 50 digital assets, and has a valuation of 4.1 billion US dollars.
The platform will have two rounds of BC financing in 2021. The B round of financing completed 170 million US dollars, led by Valar Ventures and DST Global, and then received a 10 million euro B round of expansion round financing.
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Ninth place: Circle, with a total funding of $440 million
Founded in 2013 by Jeremy Allaire and Sean Neville in Boston, USA, Circle is currently the issuer of the well-known USD stablecoin USDC. According to data from CoinMarketcap, USDC currently has a market cap of over $42 billion, ranking second among stablecoins and seventh among all cryptocurrencies.
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No. 10: Genesis Digital Assets, with a total funding of $431 million
Genesis Digital Assets was established in 2013. It is reported that as of September 2021, the Genesis Digital Assets data center has generated more than 170 megawatts of electricity, with a total computing power of more than 3.3 EH/s, and will increase by another 8.6 EH/s in the next 12 months. By the end of 2023, Genesis Digital Assets is expected to generate electricity will exceed 1.4 gigawatts (GW).
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Eleventh place: Anchorage, with a total financing amount of 430 million US dollars
Anchorage, a cryptocurrency custodian, was founded in 2017 by Diogo Mónica, who previously worked at Square, and Nathan McCauley, the former security director of Docker Inc. Anchorage is the first cryptocurrency company to receive approval from the U.S. national banking regulator. The company is currently valued at $3 billion.
Anchorage will receive two rounds of financing, C and D, in 2021. The C round of financing raised 80 million US dollars, led by the Singapore government investment fund GIC, with participation from a16z, Blockchain Capital, Lux and Indico;
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No. 12: Blockchain.com, with a total funding of $420 million
Blockchain.com was established in 2011. Its main businesses include block browsers, cryptocurrency wallets, exchanges, etc. It also provides institutions with a series of solutions such as asset custody and lending. Its venture capital department Blockchain Ventures has invested in Securitize, Aave, Dozens of projects such as Near.
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Thirteenth place: Ledger, with a total financing amount of 380 million US dollars
Founded in 2014, Ledger is an industry leader in basic security solutions for cryptocurrencies and blockchains. Ledger produces hardware that allows users to securely store and control their cryptocurrency private keys. Headquartered in Paris and San Francisco, Ledger currently has 82 employees. It provides a variety of products and services related to the security of encrypted assets, providing relevant security guarantees for individuals and companies, including encrypted currency hardware wallets that have been sold in 165 countries. Estimated at $1.5 billion.
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Founded in 2017, BlockFi has long provided lending services to the encrypted market, and also provides encrypted asset transaction execution services for retail investors and institutions, as well as customized credit and structured products for institutional customers, including hedge funds/family offices, market makers / OTC trading platforms, crypto companies and high net worth individuals.
Founded in 2017, BlockFi has long provided lending services to the encrypted market, and also provides encrypted asset transaction execution services for retail investors and institutions, as well as customized credit and structured products for institutional customers, including hedge funds/family offices, market makers / OTC trading platforms, crypto companies and high net worth individuals.
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Fifteenth place: Alchemy, with a total financing amount of 330 million US dollars
Alchemy is a San Francisco-based company that provides development services for DeFi, NFT, and other crypto projects. Specifically, this company is based on cloud technology, and helps customers improve the efficiency of blockchain APP development and reduce development costs by reducing the number of code edits by blockchain developers. The core product is Supernode, which can reduce the workload of nodes (nodes play a key role in processing transactions) and ensure that the transaction data stored in nodes by developers is "correct" and "up-to-date". Alchemy's clients include Dapper Labs, CryptoKitties, NBA Top Shot, the popular NTF game Axie Infinity, and the world's largest comprehensive NFT trading platform OpenSea.
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Solana Labs is the technology development company of the high-performance public chain Solana, which has promoted Solana to become one of the most popular public chains this year.
Solana Labs is the technology development company of the high-performance public chain Solana, which has promoted Solana to become one of the most popular public chains this year.
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Seventeenth place: Fire Blocks, with a total financing amount of 300 million US dollars
Founded in 2018, Fire Blocks provides a secure infrastructure for transferring, storing and issuing digital assets. Fireblocks helps exchanges, lending desks, custodians, banks, trading desks, and hedge funds securely scale digital asset operations over the Fireblocks network and MPC-based e-wallet infrastructure. Fireblocks has securely moved over $150 billion in digital assets and has a unique insurance policy covering asset storage and transfer.
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Eighteenth place: Paxos, with a total financing amount of $300 million
Founded in 2013, Paxos is a New York-based digital asset trust. In 2018, the company launched Paxos Standard, or PAX, a stablecoin pegged to the U.S. dollar. As a licensed qualified custodian, the law allows the firm to hold digital assets such as bitcoin and ether, as well as gold, on behalf of institutional investors. The agency is also currently providing a cryptocurrency trading API solution for Interactive Brokers (IBKR), one of the largest brokerages in the United States, allowing Interactive Brokers users to directly trade Bitcoin, Ethereum, BCH and LTC.
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Nineteenth place: FalconX, with a total financing amount of 260 million US dollars
FalconX is a San Mateo, California-based crypto trading platform that connects to more than 100 exchanges and provides pricing for clients including hedge funds, venture funds and payment providers.
A round of financing of US$50 million will be completed in March 2021, led by Tiger International and B Capital Group, with participation from institutions such as Accel, Coinbase Ventures and Avon Ventures;
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No. 20: BitDAO, with a total funding of $230 million
BitDAO is a decentralized autonomous organization (DAO) initiated by Bybit. Its original intention was to allocate a large amount of capital and human resources to promote the growth of DeFi, especially in terms of capital, R&D and liquidity. Currently, it is one of the DAOs with the largest treasury size, with approximately $2.5 billion in assets under management.
BitDAO announced in June 2021 that it completed a financing of US$230 million. Peter Thiel, Founders Fund, Pantera Capital, and Dragonfly Capital led the investment, and Alan Howard, Jump Capital, Spartan Group, Fenbushi, Kain Warwick (Synthetix) and others participated in the investment.
