{"id":56267,"date":"2022-11-25T13:54:56","date_gmt":"2022-11-25T12:54:56","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=56267"},"modified":"2022-11-25T13:54:56","modified_gmt":"2022-11-25T12:54:56","slug":"crypto-lender-matrixport-aims-to-raise-100m-despite-sluggish-market","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/crypto-lender-matrixport-aims-to-raise-100m-despite-sluggish-market\/","title":{"rendered":"Crypto Lender Matrixport Aims to Raise $100M Despite Sluggish Market"},"content":{"rendered":"<p><strong><a class=\"keychainify-checked\" href=\"https:\/\/www.matrixport.com\/\" target=\"_blank\" rel=\"noopener\">Matrixport<\/a> Technologies Pte, <\/strong>one of Asia\u2019s biggest crypto lenders is trying to raise $100 million in funding at a $1.5 billion valuation despite the FTX crisis that continues to reverberate across the digital asset sector. <!--more--><\/p>\n<p>According to an announcement on November 25, Matrixport is trying to raise the funding as per the company&#8217;s normal course of business. The Singapore headquartered cryptocurrency lending firm founded by Bitmain co-founder, Wu Jihan, <strong>already has commitments for $50 million from lead investors<\/strong>. But, Matrixport is trying to secure additional investors for the other half of the round. However, the company has not yet disclosed who are the lead investors.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We&#39;re excited and look forward to engaging with participants, on similar terms, in the other half of the <a href=\"https:\/\/twitter.com\/hashtag\/funding?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#funding<\/a> round.<\/p>\n<p>Appreciate the trust and confidence our investors continue have in Team <a href=\"https:\/\/twitter.com\/hashtag\/Matrixport?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#Matrixport<\/a>.<a href=\"https:\/\/twitter.com\/business?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@business<\/a> \ud83d\udcf0\ud83d\udc47<a href=\"https:\/\/t.co\/DqQhsYucUy\" target=\"_blank\">https:\/\/t.co\/DqQhsYucUy<\/a><\/p>\n<p>&mdash; Matrixport (@realMatrixport) <a href=\"https:\/\/twitter.com\/realMatrixport\/status\/1596022478433681408?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">November 25, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Matrixport&#8217;s Routine Funding<\/h2>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-56278 size-full\" src=\"https:\/\/crypto-economy.com\/wp-content\/uploads\/2022\/12\/1_11-14.jpg\" alt=\"Crypto Lender Matrixport Aims to Raise $100M Amid Sluggish Market\" width=\"837\" height=\"304\"><\/p>\n<p>The Singapore based crypto platform was founded by by crypto billionaire <strong>Wu Jihan <\/strong>who is also the co-founder of Bitmain, the world&#8217;s largest manufacturer of <strong><a class=\"keychainify-checked\" href=\"https:\/\/crypto-economy.com\/what-is-bitcoin\/\" target=\"_blank\" rel=\"noopener\">Bitcoin (BTC)<\/a><\/strong> mining rigs. Matrixport had earlier raised nearly $100 million is a Series C funding round in 2021, led by major global venture capital firms, including<strong> DST Global, C Ventures and K3 Ventures.<\/strong><\/p>\n<p>In addition, the funding round also witnessed participation from <strong>Tiger Global, Qiming Venture Partners and CE Innovation Capital<\/strong> alongside existing investors like <strong>Polychain, Dragonfly Capital and IDG Capital among others.<\/strong><\/p>\n<p style=\"text-align: left\"><strong>Ross Gan<\/strong>, head of public relations at Matrixport, confirmed the latest fundraising plan noting,<\/p>\n<p style=\"text-align: center\"><em>&#8220;Matrixport routinely engages with key stakeholders as part of its normal course of business, including investors keen to participate and enable our vision as a digital assets financial services provider.&#8221;<\/em><\/p>\n<h2>A Grim Year for Crypto Lenders<\/h2>\n<p>The news come at a time when leading crypto lenders have tumbled due to the ongoing market crisis which began earlier this year. Celsius Network, a US crypto lender, announced on July 13 that it had filed for Chapter 11 bankruptcy owing to the fall of Terra\/Luna.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Moments ago, <a href=\"https:\/\/twitter.com\/CelsiusNetwork?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@CelsiusNetwork<\/a> filed voluntary petitions for Chapter 11 protection and announced that the company initiated a financial restructuring. <a href=\"https:\/\/t.co\/vf5wsT6TMp\" target=\"_blank\">https:\/\/t.co\/vf5wsT6TMp<\/a><\/p>\n<p>&mdash; Celsius (@CelsiusNetwork) <a href=\"https:\/\/twitter.com\/CelsiusNetwork\/status\/1547375324622618624?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">July 14, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In the wake of the Terra (LUNA)&nbsp;and its associated stablecoin&nbsp;TerraUSD (UST) frenzy, several bigwigs of the crypto industry such as Voyager Digital and 3AC crumbled like a deck of cards.<\/p>\n<p>Meanwhile, more recently, the implosion of FTX sent &#8220;rougue waves&#8221; across the crypto ecosystem triggering a severe liquidity crisis among a number of crypto firms. Leading cryptocurrency lender,&nbsp;<strong>BlockFi, is reportedly preparing for a possible bankruptcy<\/strong> filing due to the company\u2019s \u201csignificant exposure\u201d to FTX. Crypto lending firm, Genesis Global Capital has also issued a warning bell stating<strong> it will go bankrupt if it does not secure any funding.&nbsp;<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Matrixport Technologies Pte, one of Asia\u2019s biggest crypto lenders is trying to raise $100 million in funding at a $1.5 billion valuation despite the FTX crisis that continues to reverberate across the digital asset sector.<\/p>\n","protected":false},"author":21,"featured_media":56295,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102,84,74],"tags":[4916,5536],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/56267"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=56267"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/56267\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/56295"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=56267"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=56267"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=56267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}