Coinbase Ventures Expands Portfolio With 4 Crypto Tasks, Raises Over $20 Million

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  • Coinbase Ventures has added 4 new crypto tasks to its funding portfolio in Could 2023.
  • The funding arm of the cryptocurrency big participated within the funding spherical, elevating over $20 million.
  • Investments embody zkLink, Dolomite, Hourglass and PYOR.

Coinbase Ventures, the funding arm of American crypto big Coinbase, added 4 new cryptocurrency tasks to its funding portfolio final month. The enterprise capital agency participated in a funding spherical, elevating a complete of $20.7 million in Could 2023. These investments embody zkLink, Dolomite, Hourglass and PYOR.

Altcoin Each day just lately posted a video on Youtube detailing Coinbase Ventures’ current funding. Coinbase Ventures participated in zkLink’s strategic funding spherical in early Could, in keeping with knowledge collected by Crypto Information Channel. The built-in multi-chain buying and selling challenge has raised a complete of $10 million.

Every week after funding zkLink, Coinbase Ventures has joined Dolomite’s funding spherical. The funding spherical was led by Draper Goren Holm and raised $2.5 million. Dolomite is a credit score and lending protocol on Arbitrum. Coinbase Ventures invested an undisclosed quantity in his DeFi challenge.

The third challenge Coinbase Ventures invested in was Hourglass, a protocol that gives a market for buying and selling locked-up DeFi property. The DeFi startup, which raised $4.2 million in a seed spherical, permits customers to commerce tokenized variations of staked property by means of a brand new idea referred to as Timebound Tokens (TBT).

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Coinbase Ventures’ final funding in Could 2023 was PYOR (Energy Your Personal Analysis). PYOR, an institution-level digital asset knowledge and insights supplier, has secured $4 million in a seed funding spherical. Based on the Altcoin Each day, Coinbase believes the brand new funding may “do very nicely” within the subsequent cycle.

Coinbase Ventures was based in 2018 by Brian Armstrong’s Coinbase. This funding arm has invested in over 400 of his crypto tasks, together with his hottest tasks being his Uniswap, OpenSea and Synthetix. The corporate’s investments fall into 5 classes: Protocols and Web3 Infrastructure, Decentralized Finance, Centralized Finance, Platforms and Developer Instruments, and NFTs/Metaverses/Video games.

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