The Toronto-based crypto-trading platform said it raised $25 million at a $253-million valuation. Aside from Lütke’s fund Snowdevil Capital, investors included CI Financial, Singh Capital Partners, Anthony Pompliano, partners from DV Chain and Tiny Capital (also an investor in The Logic). (The Logic)
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The Toronto-based crypto-trading platform said it raised $25 million at a $253-million valuation. Aside from Lütke’s fund Snowdevil Capital, investors included CI Financial, Singh Capital Partners, Anthony Pompliano, partners from DV Chain and Tiny Capital (also an investor in The Logic). (The Logic)
Talking point: CI’s investment shows that the money manager is moving deeper into crypto after launching multiple crypto ETFs in the last year. The fund was behind one of the first Bitcoin ETFs globally and has since rolled out ETFs that track the price of Ether as well as a mixture of cryptocurrencies. “This investment in Newton reinforces CI’s commitment to strengthen our leadership position in digital assets in Canada,” CI president and chief operating officer Darie Urbanky said in a press release. Newton says it allows trading in more than 60 crypto assets and has filed an application for registration with the Ontario Securities Commission and all other provincial securities regulators.
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