Crypto Deal Flow: March 3–6

Let’s research activity of crypto funds, private investors and crypto startups for last 4 days. Our Radar system detected 26 deals.

Crypto Deal Flow: March 3–6
Crypto Deal Flow: March 3–6
  1. SIREN Markets | $4m | 1kx, the Spartan Group and others| private round

SIREN Markets, a decentralized options market, has raised $4m from lead investors 1kx and the Spartan Group with CMS Holdings, Robot Ventures, Mechanism Capital, Rockaway Blockchain Fund and private investors.

2. ECO | $26m | a16z Crypto, Founders Fund, Activant Capital and others | strategy round

Payments startup ECO raised $26m from lead investor a16z Crypto with the participation of Founders Fund, Activant Capital, Slow Ventures, Coinbase Ventures, Tribe Capital, Valor Capital Group and others.

3. Oxygen Protocol | token sale

Oxygen Protocol is a DeFi Prime Brokerage Protocol and cross chain decentralized wallet built to scale. The project will hold a token sale on 4 platforms: FTX, Bitmax, Gate.io and Serum.

4. MicroStrategy | BTC purchase

MicroStrategy has purchased an additional 205 bitcoins for $10.0m in cash at an average price of $48,888 per bitcoin. As of 3 of March 2021, MicroStrategy hold 91,064 bitcoins acquired for $2.196b at an average price of $24,119 per bitcoin.

5. AIOZ | token sale

AIOZ is a decentralized video streaming network that utilizes a worldwide network of nodes to leverage peer-to-peer neighbourhood bandwidth — creating an infinitely scalable content delivery solution at a fraction of the cost of legacy Content Delivery Networks (CDNs). AIOZ will hold IDO on Ignition from PAID Network.

6. Yield Guild Games | undiscloused sum |Delphi Digital, Scalar Capital, BlockTower Capital and others| private round

Yield Guild Games (YGG), the decentralized autonomous organization (DAO) with a penchant for NFTs, raised the funds from Delphi Digital, Scalar Capital, BlockTower Capital, gumi Cryptos Capital, Ascensive Assets and Youbi Capital.

7. Polkadex | $3m | LD Capital, Kenetic Capital, NGC and others | seed | private round

Polkadex, the decentralized exchange (DEX) built for Web3 and decentralized finance (DeFi), has raised $3m in seed and private investment rounds from LD Capital, Kenetic Capital, NGC, QCP, AU21 Capital, CMS Holdings, OKEx Capital, PNYX Capital, Genesis Block Capital, JRR Group, Cluster VC, GBIC, Momentum 6 and Outlier Ventures.

8. LazyLedger | $1.5m | Interchain Foundation, Binance Labs, Maven 11 and others | seed

LazyLedger is a pluggable consensus and data availability layer, to enable anyone to quickly deploy a decentralized blockchain without the overhead of bootstrapping a new consensus network. The project has raised $1.5m from Interchain Foundation, Binance Labs, Maven 11, KR1, Signature Ventures, Divergence Ventures, Dokia Capital, P2P Capital, Tokonomy, Cryptium Labs and private investors.

9. Compass Mining | $1.7m | Galaxy Digital, CMT Digital, CoinFund and others | private round

A mining firm looking to democratize exposure to the highly technical underbelly of the crypto market has raised $1.7m in venture funding to scale its operations. Compass Mining raise funds led by Galaxy Digital and included participation from CMT Digital, CoinFund, Coinshares, Rarestone Capital, and BlockFi’s Zac Prince. Galaxy’s Amanda Fabiano and Coinshare’s Meltem Demirors are joining the firm’s board.

10. TaxBit | $100m | Paradigm, Tiger Global and others | series A round

Utah-based crypto tax and accounting startup TaxBit has raised more than $100m in a Series A round. The round was led by investment companies Paradigm and Tiger Global, with participants including PayPal Ventures, Coinbase Ventures and Winklevoss Capital. The startup offers cryptocurrency tax software for crypto users, exchanges and vendors.

11. Unchained Capital | $5.5m | NYDIG, Ecliptic Capital, Starting Line and others | private round

Unchained Capital, a provider of a full-suite platform for individuals and businesses to store long-term wealth in bitcoin with private key ownership, announced today the closing of a $5.5m equity seed round led by institutional Bitcoin technology and financial services firm NYDIG. In addition to leading the equity round, NYDIG has made an initial lending commitment of $50m; and will continue to be the principal funding partner to Unchained in support of its bitcoin-backed multi-signature lending platform. Also participating in the round are existing investors Ecliptic Capital, Starting Line, Platform Ventures, Stronghold Resource Partners, Trammell Venture Partners’ Bitcoin Venture Fund, and Capital Factory.

12. BlockTower Capital | new money

BlockTower Capital, a crypto industry investment firm, has received investments from billionaire hedge funder Marc Lasry and J. Christopher Giancarlo, the former chairman of the Commodity Futures Trading Commission.

13. Bitfarms | mining

The Canadian bitcoin (BTC) mining company Bitfarms (TSXV:BITF, OTC:BFARF) announced the company has entered an agreement where it plans to purchase 48,000 mining rigs manufactured by Microbt. The China-based firm Microbt is the manufacturer of Whatsminer devices, which are some of the most powerful application-specific integrated circuit (ASIC) machines in the world.

14. Human Rights Foundation | $70k | grant

Human Rights Foundation (HRF) has announced four new grants as part of its Bitcoin Development Fund, a program launched last year to financially support Bitcoin developers who are working to make the network more private, decentralized and resilient. The non-profit focused on preserving human rights around the world will be donating $25,000 in BTC to Jesse Posner, who is working on adapter signatures and discreet log contracts (DLCs); $25,000 in BTC to the team behind Muun Wallet; $10,000 in BTC to Janine, who manages a Bitcoin privacy newsletter; and $10,000 in BTC to the team behind open-source cryptography non-profit Blockchain Commons.

15. Iris Energy | $31m | preIPO

Iris Energy, an Australian firm that invests in Bitcoin (BTC) mining data centers powered by renewable energy sources, has doubled its second pre-initial public offering round. According to Bloomberg, a 13m Australian dollar ($10m) commitment from equity manager outfit Platinum Asset Management has seen Iris increase its second pre-IPO target to 40 million Australian dollars ($31m) from the initial 20 million Australian dollars set earlier in mid-February.

16. DEXTF | undiscloused sum | Algorand Foundation | grant

DEXTF is an on-chain non-custodial asset management protocol that empowers anyone to mint, trade and redeem non-custodial oracle-less tokenized portfolios (XTFs). Investors can finally claim full asset ownership even when their investments are delegated to portfolio managers. DEXTF Protocol have been awarded an Algorand Foundation Grant.

17. Tailcat |Brave| acquisitions

Brave announced the acquisition of Tailcat, the open search engine developed by the team formerly responsible for the privacy search and browser products at Cliqz, a holding of Hubert Burda Media.

18. Secret Network |$15k | grant

A new $15k Secret Grant has been awarded to develop a non-fungible token (NFT) standard for Secret Network, unlocking critical and unique new use cases for NFTs with programmable privacy.

19. Huobi | new fund

China’s largest exchange Huobi has obtained a Hong Kong cryptocurrency fund license, and it will launch Bitcoin, Ethereum and multi-strategy funds on March 3. Similar to the Grayscale, this move by Huobi may promote traditional Asian investors to cryptocurrency field.

20. Crypto.com | $200m | new fund

Crypto.com launches Crypto.com Capital — $200m Cryptocurrency Fund. The fund will invest in projects from seed stage to Series A round startups.

21. Gate.io | $50m |project support

Smart contract EVM mainnet will go live on GateChain soon, characterized by high performance, secure infrastructure and low gas fees, empowering everyone to create and access highly secure & scalable dapps. Gate.io Labs will fund $50m (in cryptocurrency) and host a series of seed funding rounds ranging from tens of thousands to millions of dollars promoting and supporting high quality project development

22. Unslashed Finance | $2m |Lemniscap, P2P Capital and others | private round

Unslashed Finance, a decentralized insurance protocol built on Ethereum, has raised $2m to fund its tokenized insurance product, highlighting another positive use case for blockchain technology.The funding round, which was led by Lemniscap, P2P Capital and other investors, will aid Unslashed Finance in expanding its decentralized insurance protocol for crypto assets.

23. Mobifi | $2.6m | Ape Capital, Blackdragon, Exnetwork and others | private round

Mobifi, a platform for DeFi, has raised $2.6m from Ape Capital, Blackdragon, Exnetwork, Excel foundation, Gains, Coach K, CSP DAO, Propeller fund, Spyke Fast, X21 Digital, Crypto Avengers, Phoenix VC, Nextgen, and Pepe.

24. Cipher Mining | Bitfury subsidiary Cipher Mining Technologies and Good Works Acquisition Group| acquisitions

A U.S.-based Bitcoin mining firm, named Cipher Mining Inc., will result from the merger between Bitfury subsidiary Cipher Mining Technologies Inc. and Good Works Acquisition Group, in a special purpose acquisition company (SPAC) deal. The combined company is valued at $2b. Plans are in place to list it on the NASDAQ under the ticker symbol “CIFR.”

25. Curio | $1.2m | Future Perfect Ventures, A195 Capital, LongHash Ventures and others | seed

Curio, a platform for brands and content owners to create digital fan experiences and collectibles, today announced the closing of $1.2m in an oversubscribed seed round led by Future Perfect Ventures, with participation from A195 Capital, LongHash Ventures, Moonwhale Ventures, and several others including media veteran Rich Battista, former CEO of Time Inc and former Fox Entertainment executive.

26. TrustSwap | IDO

TrustSwap Launchpad will soon host the IDO of the Bitcashpay project ($1.87m hard cap) with guaranteed allocation for the SWAP token holders, as well as the CellFrame Network IDO ($106.5k hard cap) in the form of a lottery (FlashLaunch).

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Tokenomic Researcher and CryptoDealFlow author