Crypto startup Circle plans to raise another $ 250 million to weather the bear market

Crypto startup Circle plans to raise another $ 250 million to weather the bear market

Crypto Company Circle Raising $110 Million In Latest Funding Round | CNBC

Circle startup plans to raise an additional $ 250 million in investments to counter the negative consequences of the crisis on the crypto market.

US media reports that Circle Internet Financial is seeking to raise funds through a combination of equity and debt financing. The reason for this decision was the deterioration of the financial position of the company associated with the prolonged decline in the virtual currency market..

According to experts, the startup, backed by Goldman Sachs, has already received at least $ 246 million, and last spring it was valued at $ 3 billion.. Then in the project was invested by: Bitmain, Accel, Blockchain Capital, IDG, Pantera and others.

At the moment the company is a cryptocurrency conglomerate offering various financial products. It provides OTC trading services to institutional investors through its Circle Invest app, acquired the Poloniex exchange a year ago, and also launched its own stablecoin USD Coin (USDC) pegged to the US dollar.

Crypto startup Circle plans to raise another $ 250 million to weather the bear market

Companies that competently manage available funds, even during the crisis, they continue to develop actively. An example is Binance, which will give away $ 100K in BNB tokens. traders testing a new decentralized platform.

text: Ivan Malichenko, photo: Unsplash

Crypto startup Circle plans to raise another $ 250 million to weather the bear market