Crypto Startup Archives - Crypto Insider https://cryptoinsider.asia/post_tag/crypto-startup/ Crypto and Blockchain News Thu, 14 Apr 2022 13:30:51 +0000 en-US hourly 1 https://wordpress.org/?v=6.7 https://cryptoinsider.asia/wp-content/uploads/2021/11/cryptocurrency-icon.png Crypto Startup Archives - Crypto Insider https://cryptoinsider.asia/post_tag/crypto-startup/ 32 32 199368904 Ava Labs Set to Raise $350M at $5B Valuation: Report https://cryptoinsider.asia/ava-labs-set-to-raise-350m-at-5b-valuation-report/ Thu, 14 Apr 2022 13:30:51 +0000 https://cryptoinsider.asia/ava-labs-set-to-raise-350m-at-5b-valuation-report @ Crypto Insider

A $5.25 billion valuation would place Ava Labs in the upper echelons of most valuable…

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A $5.25 billion valuation would place Ava Labs in the upper echelons of most valuable crypto startups in the world.

Ava Labs, builder of the Avalanche blockchain, is in the process of raising a new funding round that would give it a $5.25 billion valuation, according to a Bloomberg report Thursday.

The Brooklyn, New York-headquartered startup is raising $350 million, according to the report citing people familiar with the discussions.

A $5.25 billion valuation would place Ava Labs in the upper echelons of most valuable crypto startups in the world, though still some way behind the likes of Ethereum scaler Polygon which is worth $20 billion as of its recent funding round or USDC stablecoin backer Circle, valued at $9 billion in February.

Like several other blockchains, Avalanche is looking to draw projects and applications away from Ethereum with the promise of high speeds and low transaction fees. Specifically, Avalanche offers “subnet” functionality, where application-specific blockchains can be spun up at scale.

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]]> 3101 Crypto Startup Wyre to Be Bought by Payments Company Bolt for $1.5B https://cryptoinsider.asia/crypto-startup-wyre-to-be-bought-by-payments-company-bolt-for-1-5b/ Thu, 07 Apr 2022 10:58:37 +0000 https://cryptoinsider.asia/crypto-startup-wyre-to-be-bought-by-payments-company-bolt-for-1-5b @ Crypto Insider

The acquisition would be the largest non-SPAC deal in the crypto industry. Payments company Bolt…

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The acquisition would be the largest non-SPAC deal in the crypto industry.

Payments company Bolt agreed to buy crypto startup Wyre for $1.5 billion, according to a Wall Street Journal report Thursday.

The acquisition would be the largest in the crypto industry among those not involving a special purpose acquisition company (SPAC), according to the report, which cited people familiar with the matter.

Wyre is a blockchain-based payments firm that last year connected to the Visa network after joining its Fintech Fast Track Program.

Bolt provides online checkout services and raised $355 million in January giving it an $11 billion valuation.

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