Key Takeaways

• FTX buys derivatives exchange and clearinghouse LedgerX for undisclosed amount
• Our Deal of the Week is Blockstream’s $215 million Series B, paving the way for ASIC manufacturing
• Most featured investors include MultiChain Capital, Paradigm, and Galaxy Digital

Venture Capital Deals

Ticker: $1INCH Price: $3.28 Market Cap: $560M

1inch Network, a platform that unites decentralized protocols ideally enabling users to achieve the best price, in a fast and secure manner, is in the process of raising a Series B at a pre-money valuation of $2.25 billion. Galaxy Digital led the round and was joined by Binance Labs, Greenfield One, Libertus Capital, Dragonfly Capital, FTX, IOSG, Kyber Network and Near Protocol Co-Founder. (1inch Network is looking to raise Series B at a $2.25 billion valuation)

Royal, a blockchain-based music investment platform aiming to enable fractional music ownership through NFTs, raised an undisclosed amount in their Series Seed round, valuing the company at $16 million. The round was led by Paradigm, with follow-on investors Founders Funder and Atomic VC. Royal is the brainchild of world-famous DJ 3LAU and successful tech entrepreneur Justin Ross. (DJ 3LAU Raises $16M for NFT-based Music Platform Royal)