{"id":203679,"date":"2023-11-30T17:50:58","date_gmt":"2023-11-30T12:20:58","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=203679"},"modified":"2023-11-30T17:50:58","modified_gmt":"2023-11-30T12:20:58","slug":"the-biggest-crypto-raise-of-2023-wormhole-raises-225-million-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/the-biggest-crypto-raise-of-2023-wormhole-raises-225-million-crypto-news\/","title":{"rendered":"The Biggest Crypto Raise of 2023: Wormhole Raises $225 Million &#8211; Crypto News"},"content":{"rendered":"<div>\n<p>Wormhole, the\u00a0protocol developing cross-chain communication solutions, has\u00a0raised $225 million, in a funding round valuing the company at $2.5 billion. Investors in the round included\u00a0Brevan Howard, Dialectic, Jump Trading, ParaFi, Multicoin Capital, Arrington Capital, Borderless Capital, and others.<\/p>\n<p>In addition to the\u00a0fundraising, the Wormhole team has announced the launch of Wormhole Labs, a separate entity that will continue to develop the cross-chain protocol\u2019s products, tools, and reference implementations.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-against-all-odds-wormhole-s-breakthroughs-despite-turbulence\">Against All Odds: Wormhole\u2019s breakthroughs despite turbulence<\/h2>\n<p>The impressive capital inflow makes it the largest funding crypto-related funding round of 2023. This is significant statement of investor confidence in the project, despite its recent troubles. This is Wormhoke\u2019s first solo fundraising round since its split from Jump Trading earlier this month, and the figure signals that it is doing just fine.<\/p>\n<p>Following a hack last year, Wormhole lost 120,000 ETH, which was equivalent to $323 million at the time. However,\u00a0Jump Crypto came to the rescue and restored\u00a0the stolen funds\u00a0back. With the creation of Wormhole Labs, the company has now defined its own path, following its\u00a0separation\u00a0from Jump Crypto.<\/p>\n<p>Wormhole has developed a technology that enables\u00a0users to transfer digital assets from one blockchain to another. In addition, the company says that its infrastructure has transfered\u00a0$35 billion worth of asset value\u00a0since its launch. Furthermore, it claims that\u00a0it processes over 2 million cross-chain communications spanning over 30 chains every day.<\/p>\n<p>Despite the\u00a0mixed performance of the blockchain assets market for most of the past year, many investors still view it as the technology of the future. For instance, a\u00a0growing number of large organisations are embracing both public and private\u00a0blockchain technology. They are particularly drawn to its potential for improving transaction efficiency and tokenizing physical assets.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Wormhole, the\u00a0protocol developing cross-chain communication solutions, has\u00a0raised $225 million, in a funding round valuing the company at $2.5 billion. Investors in the round included\u00a0Brevan Howard, Dialectic, Jump Trading, ParaFi, Multicoin Capital, Arrington Capital, Borderless Capital, and others. In addition to the\u00a0fundraising, the Wormhole team has announced the launch of Wormhole Labs, a separate entity that [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":96195,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-203679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/203679","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=203679"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/203679\/revisions"}],"predecessor-version":[{"id":203680,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/203679\/revisions\/203680"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/96195"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=203679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=203679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=203679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}