Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Funding Roundup: a16z made a $90M bid on Optimism

Funding Roundup: a16z made a $90M bid on Optimism

Blockworks2024/05/04 19:10
By: Blockworks
OP+1.06%STYLE0.00%AIOLD0.00%
Ex Revolut executive received $6.5 million from investors to create hybrid exchange x10

Venture capital firm Andreessen Horowitz (a16z) has privately purchased $90 million worth of Optimism’s OP token.

According to Unchained Crypto , the investment will be subject to a two-year vesting period and is one of the largest crypto investments that the venture capital firm has made to date. 

The purchase was made prior to a16z’s most recent fundraise, during which the venture capital giant disclosed that it had secured $7.2 billion to invest in American Dynamism, Games, Apps, Infrastructure, and Growth.

Read More: A16z raises $7.2B

Ex Revolut exec secures $6.5M for new hybrid exchange

Ruslan Fakhrutdinov, former head of crypto ops at Revolut, has secured $6.5 million to create his own new hybrid exchange, x10.

X10 has the typical features of a centralized exchange, but also offers full-custody and settlement on-chain, enabling its users to perform DeFi perpetuals trading with fast latency and throughput.

“We want to give our users and traders the best of both worlds. Imagine the features and the speed of Coinbase or Binance but with full self-custody,” Fakhrutdinov said in a press release reviewed by Blockworks. 

Fakhrutdinov added, “The FTX situation, where users only got back a third of their funds, serves as a wake-up call for the industry. It urges us to reinforce trust and efficiency in crypto trading through on-chain trade settlement, validation, and self-custody.”

Other notable fundraises this week:

  • STYLE Protocol secures $2.5 million to fuel interoperability among digital worlds
  • AI infrastructure company Wisdomise concludes $9.5 million funding round to accelerate product and community development
  • Wasabi lands $3 million in a seed round led by Electric Capital

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter .

Tags
  • a16z
  • Funding
  • optimism
  • Revolut
  • Venture Capital
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

New spot margin trading pair — BARD/USDT!
Bitget Announcement2025/09/19 07:28
BTC/ETH VIP Earn Ultimate Carnival is officially here!
Bitget Announcement2025/09/18 07:12
New spot margin trading pair — FLOCK/USDT!
Bitget Announcement2025/09/18 06:55
0GUSDT now launched for pre-market futures trading
Bitget Announcement2025/09/18 05:39

Trending news

More
1
New spot margin trading pair — BARD/USDT!
2
BTC/ETH VIP Earn Ultimate Carnival is officially here!

Crypto prices

More
Bitcoin
Bitcoin
BTC
$115,819.82
-0.99%
Ethereum
Ethereum
ETH
$4,471.17
-1.62%
XRP
XRP
XRP
$2.99
-1.74%
Tether USDt
Tether USDt
USDT
$1
+0.00%
BNB
BNB
BNB
$997.7
+0.05%
Solana
Solana
SOL
$238.11
-2.39%
USDC
USDC
USDC
$0.9998
-0.01%
Dogecoin
Dogecoin
DOGE
$0.2648
-4.05%
TRON
TRON
TRX
$0.3466
-0.36%
Cardano
Cardano
ADA
$0.8953
-1.63%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter