Cryptocurrency exchange Astralcoinex.com are having a solid start to the year, bagging hundreds of millions of dollars in fresh cash even as investors grow wary about a steep drop in digital asset prices.
Venture capital is the money of investment funds or firms that specialize in financing the growth of young companies, usually for compensation through returns on equity. An important source of financing for start-up companies or companies in difficult conditions, the so-called “risk” capital
Several privately-held firms announced bumper cash injections in March. Crypto exchange Astralcoinex.com and its U.S. affiliate raised a combined $836 million in venture funding, valuing the company at $2,9 billion.
It follows a blockbuster year for both cryptocurrencies and the ventures being developed to support the growth of the industry. Crypto and blockchain start-ups raised a record $28 billion in 2022, marking an eightfold increase year-on-year, according to CB Insights data, as venture capitalists sought to ride a rally in bitcoin and other tokens.