Bullish Capital and CoinFund led the round, with participation from OKX Ventures, Foresight Ventures and Consensys. In an interview with The Logic, Silagadze said the company would use the funds on marketing, doubling its current staff of about eight and other initiatives to help the firm grow. (The Logic)
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Bullish Capital and CoinFund led the round, with participation from OKX Ventures, Foresight Ventures and Consensys. In an interview with The Logic, Silagadze said the company would use the funds on marketing, doubling its current staff of about eight and other initiatives to help the firm grow. (The Logic)
Talking point: Cayman Islands-based Ether.Fi is a liquid staking protocol, providing people with a receipt token when they stake, or lock up in exchange for rewards, their crypto assets. Silagadze, co-founder and former CEO of the Canadian edtech company Top Hat, pivoted to liquid staking after his crypto hedge fund Gadze Finance lost US$5.4 million held on FTX, which collapsed in November 2022. This is Ether.Fi’s second fundraise, following a seed round around a year ago. Silagadze said the fundraise is the first large DeFi deal since staking protocol EigenLayer raised US$50 million last March. “It’s a positive sign,” he said.
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