Kraken Valuation Hits $20 Billion, Monad Token Sale Slows, and Ethereum Project Secures Funding
Kraken Valuation Hits $20 Billion, Monad Token Sale Slows, and Ethereum Project Secures Funding
Kraken announced a massive $800 million funding round, pushing its valuation to $20 billion and signaling a potential IPO. Meanwhile, the Monad token sale is facing undersubscription issues, with plans to reallocate unsold tokens to ecosystem development. On the Ethereum front, the 0xbow project, Privacy Pools, which is backed by the Ethereum Foundation and based on Vitalik Buterin's research, successfully raised a $3.5 million seed round.
Kraken's $20 Billion Valuation and IPO Push
Crypto exchange Kraken has raised $800 million across two tranches over the past two months. This significant funding round, which includes a strategic investment from Citadel, has propelled Kraken's valuation to an impressive $20 billion as the company continues to advance towards a potential initial public offering (IPO).
Monad Token Sale Faces Headwinds
The Monad token sale is reportedly experiencing a slowdown, raising concerns about potential undersubscription. Should the token sale not be fully completed by its closing date, any remaining unsold tokens are slated for reallocation to the project's Ecosystem Development fund, indicating adjustments in its distribution strategy.
Ethereum Foundation-Backed Privacy Project Secures Funding
0xbow's Privacy Pools project, a key initiative supported by the Ethereum Foundation and rooted in research by Ethereum founder Vitalik Buterin, has successfully closed a $3.5 million seed funding round. This investment underscores continued development and innovation within the Ethereum ecosystem, particularly in areas concerning privacy and foundational research.