- Babylon offers bitcoin as a staking asset, allowing proof-of-stake chains to acquire funding from the deep reserves stored in BTC.The latest funding round follows an $18 million raise in December.
As a seasoned crypto investor, I’ve seen my fair share of projects come and go. But when I heard about Babylon and their innovative approach to staking on the Bitcoin blockchain, I couldn’t help but take notice.
The Bitcoin project Babylon has secured $70 million in investments to progressively develop staking functionality on the most extensive blockchain network.
As a financial analyst, I can share that Paradigm spearheaded this financing round, with investments also coming from Polychain Capital and the investment division of cryptocurrency trading platform Bullish (which is also the parent company of CoinDesk).
As a financial analyst, I would rephrase that statement as follows: My role in this project is to find ways to maximize the potential returns for bitcoin holders by activating the vast amount of cryptocurrency currently resting in wallets, thus increasing their overall value and utility.
The latest funding round follows an $18 million raise in December.
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2024-05-30 17:18