<\/p>\n
The cross-chain protocol was spun off by Jump Trading last month.<\/p>\n
Wormhole, a protocol that enables tokens and data to move across blockchains, has secured $225M in funding at a $2.5B valuation. Investors include Coinbase Ventures, Multicoin Capital, which led Solana\u2019s seed round<\/a> in 2019, and Breven Howard, a well-known hedge fund.<\/p>\n The raise<\/a> was entirely for token warrants, which grant holders rights to tokens at a future date, according to Fortune<\/a>. Wormhole doesn\u2019t yet have a publicly traded token, making it a strong candidate for an airdrop<\/a>.<\/p>\n Wormhole\u2019s raise contrasts with the overall crypto funding environment, which has trended downward since peaking at over $7B raised in October 2021.<\/p>\n <\/p>\n <\/a><\/p>\n Jump Trading Group, which incubated Wormhole, spun off<\/a> the project earlier this month. Employees left Jump to develop the cross-chain protocol as an independent entity.<\/p>\n Wormhole doesn\u2019t have a spotless security record \u2014 hackers exploited<\/a> the project for an estimated $320M in early 2022. This is par for the course in the cross-chain protocol space, which has been a prime target<\/a> in crypto.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" The cross-chain protocol was spun off by Jump Trading last month. Wormhole, a protocol that enables tokens and data to move across blockchains, has secured $225M in funding at a $2.5B valuation. Investors include Coinbase Ventures, Multicoin Capital, which led Solana\u2019s seed round in 2019, and Breven Howard, a well-known hedge fund. The raise was […]<\/p>\n","protected":false},"author":2,"featured_media":203260,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-203259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/203259","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=203259"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/203259\/revisions"}],"predecessor-version":[{"id":203261,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/203259\/revisions\/203261"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/203260"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=203259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=203259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=203259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}