Crypto Deal Flow: February 1–7

Let’s research activity of crypto funds, private investors and crypto startups for first 7 days of Febraury 2021. Our Radar system detected 24 deals!

Crypto Deal Flow: February 1–7
  1. SynFutures | $1.4m| Standard Crypto and Dragonfly| seed

SynFutures, a decentralized exchange for synthetic assets and derivatives, raised $1.4m to launch a testnet. Standard Crypto and Dragonfly are investors of the round.

2. Grayscale now owns $5B+ of Ethereum

Investment group Grayscale announced it now owns $5B+ of Ethereum. Grayscale products have received $180m in ETH in the last 7 days.

3. 0x Labs | $15m| Pantera Capital and others| series A round

The 0x Labs team raised $15m from lead investor Pantera Capital with contributions from Jump Capital, Nima Capital, Blockchain.com Ventures, Nascent Ventures, Coinbase Ventures, IOSG Ventures, DeFi Alliance and more. 0x Labs develops infrastructure for decentralized trading: 0x API, Matcha aggregator, 0x Protocol v4 and other solutions.

4. Shadows | undisclosed sum| Paid Network| IDO

PAID Network launches its own token sales platform under the Ignition brand. The first IDO will be the Shadows project, which is developing a hub of synthetic assets in the Polkadot ecosystem (analog to Synthetix, which runs on the Ethereum protocol).

5. Bot Ocean | $360k| Master Ventures and others| private round

Bot Ocean, a protocol for algorithmic trading on centralized and decentralized crypto exchanges, has raised $360k from Master Ventures, Hybrid Ventures, Phoenix VC, Jupi Capital, OMS Capital, MoonDot Capital, VYSYN Ventures, Blocksync Ventures. Today, the project will hold IDO at the Poolz site, and Bot Ocean’s partners — PAID Network and Orion Protocol — should also be noted.

6. Terraform Capital fund | $10m| Terraform Labs| new fund

Terraform Labs opens $10m Terraform Capital fund, from which funds will go to projects from the Terra ecosystem. To consider an application, startups must use the assets of Terra, LUNA, TerraUSD, mAssets or other Terra tokens.

7. MerchDAO | $105k| Exnetwork Capital| seed

MerchDAO is a blockchain-enabled marketplace where token holders can propose their own merchandise designs and buy physical limited-edition collectibles designed by other users. Every physical item on the site has an “NFT copy”. The project raised $105k from Exnetwork Capital.

8. Vortex DeFi | $897k| X21 Digital and others| private round

Vortex DeFi, a DeFi aggregator, raised $897k from X21 Digital, DuckDao, Moonrock Capital, Magnus Capital, Pluto Digital Assets PLC, Faculty Capital, A195 Capital and Skynet Trading Ltd.

9. Opyn | $6.7m| Dragonfly Capital and others| series A round

Opyn, a decentralized options protocol, raised $ 6.7m from lead investor Paradigm, with participation from Dragonfly Capital and founders Aave and Synthetix.

10. Casa | $4m| Avon Ventures and others| seed

Casa, a private key storage system, has raised $4m from lead investor Avon Ventures with contributions from Tioga Capital, Castle Island, Cadenza, Champion Hill, Compound VC, Precursor, Lerer Hippeau and Coinbase Ventures.

11. BiFrost | $1.55m| CMS Holding and others| private round

BiFrost, a synthetic asset protocol in the Polkadot ecosystem, has raised $1.55m from CMS Holding, Altonomy, SevenX, Zonff Partners, Paka, Timestop Capital, Incuba Alpha, Oasis Capital, Kernel Capital, SNZ Holding, DFG and private investors.

12. Manta Network | $1.1m| Polychain Capital and others| private round

Manta Network, a DEX on Polkadot with private transactions, raised $1.1m from Polychain Capital with Hypersphere Ventures, Three Arrows Capital, Defiance Capital, Multicoin Capital, Alameda Research, BTC12 Capital, Genblock Capital, Rarestone Capital, AU21 Capital, and TRG Capital.

13. Goldfinch | $1.1m| Kindred Ventures and others| private round

Goldfinch, a no-collateral microcredit protocol in a decentralized environment, has raised $1m from Kindred Ventures, Coinbase Ventures, IDEO CoLab Ventures, and Dragonfly Capital. At the moment, the project already has 10,000 users with an average loan of $100.

14. Coin Center | $1m| Grayscale| donation

Grayscale Investments, the world’s largest digital-asset manager, has pledged $1m to Coin Center, Washington, D.C.’s most influential cryptocurrency advocacy group — a move it believes will help broaden “foundational knowledge” of the industry.

15. Harvard, Yale, Brown University and the University of Michigan are buying cryptocurrency

Numerous large U.S. endowments from universities including Harvard, Yale, Brown University, and the University of Michigan have been buying crypto currency on exchanges according to reports. It is worth noting that such funds have billions of dollars under management.

16. Butterfly and OptionRoom| $140k| Polkastarter| IDO

On the Polkastarter platform, 2 IDOs took place this week: Butterfly (raised about $90k, the token is trading at 6x) and OptionRoom (raised about $50k, the token is trading at 50x). In the near future, IDOs by DAOventures, Finxflo and Umbrella Network will be held at Polkastarter.

17. Razor| Balancer| IDO

The Razor oracle protocol has completed a token sale on Balancer. The price during the auction ranged from $0.48 to $1.09. The token is currently trading at $0.55.

18. BTC| $10m| MicroStrategy| BTC are bought

MicroStrategy Corporation has acquired another batch of bitcoins for $10m. 314 bitcoins were bought at an average price of $31,808. At the moment, there are already 71,079 bitcoins in the company’s reserves (an estimate of about $2.7B).

19. Optimus Cards UK Limited| undisclosed sum| Uphold| acquisition

Uphold, a US digital wallet and trading platform, has acquired European card issuer Optimus Cards UK Limited to launch a cryptocurrency-enabled card in Europe.

20. Rarible| $1.75m| 1kx and others| seed

Rarible’s NFT marketplace raised $1.75m from 1kx, Coinbase Ventures, ParaFi Capital, and CoinFund. The new funds will be allocated for building out a decentralized autonomous organization (DAO) structure for the buying and selling of NFTs on Rarible, the startup said in a press release. Funds will also be used for researching decentralized solutions for buying and selling NFTs.

21. Startups| $1m| NEAR Foundation| NEAR Grants Program

NEAR Foundation launches $1m NEAR Grants Program. Grants can be awarded to projects from 4 groups: Open Source and Public Goods; Startups; Education Initiatives; and Bounties.

22. 21Shares launches exchange-traded product (ETP) for the Polkadot

Swiss investment product provider 21Shares launches the world’s first exchange-traded product (ETP) for the Polkadot cryptocurrency. The asset will be listed on the Swiss SIX Exchange. At the end of January, Polkadot tokens were included in the HODL multicurrency product from 21Shares (the share is higher than that of Ethereum).

23. Vendia| $15.5m| no info about investors| private round

The Vendia team raised $15.5m to develop the Vendia Share service, which allows IT teams to share data and code, and process transactions between third parties. This news is only indirectly related to cryptocurrencies.

24. Algorand names 11 blockchain startups for its first accelerator program in Europe

The Algorand Foundation has announced 11 winners for its European startup acceleration program. The winners are projects in 4 categories: payments and loan services (ZTLment, Payscript, Smart-Chain, Blockchain Italia), infrastructure (STOKR, Blockswap Network, Ockams), network platforms (Cortex, Kontinuous, ArtSquare.io) and the Internet of Things (NetObjex ). Each member receives $18k from Borderless Capital.

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Tokenomic Researcher and CryptoDealFlow author