Successful $100 million Series B raise for Berachain
The Layer-1 blockchain project, Berachain, has secured a $100 million Series B funding round, prior to the announcement of its mainnet launch.
Framework Ventures and Brevan Howard Digital were the lead investors in this round, accompanied by contributions from Hack VC, Animoca Ventures, and Polychain Capital, among others, according to a post by Berachain on April 12.
The funding will facilitate Berachain’s expansion into various regions including Singapore, Hong Kong, Southeast Asia, Africa, and Latin America, as reported by Bloomberg on April 12.
An image showing some of the contributors involved in Berachain’s Series B funding round. Source: Berachain/X
Investors in Berachain supported the project through a simple agreement for future tokens (SAFT), where funds were provided in exchange for future Berachain tokens.
Having already processed 100 million transactions on its testnet, Berachain aims to launch its mainnet in the second quarter of this year, designed to be compatible with applications built on Ethereum.
One of the anonymous co-founders of Berachain, known as “Smokey The Bera,” described this raise as “a significant validation of our approach in developing a blockchain based on input from actual users and developers,” in a statement seen by Bloomberg.
A glimpse of Smokey the Bera presenting at Hong Kong’s Hack Summit on April 9. Source: Smokey The Bera/X
Bloomberg previously reported in mid-March that Berachain was in the process of raising $69 million at a valuation of $1 billion, based on inputs from insiders. However, the company has not disclosed its new valuation figure.
Trump NFT transaction volumes plummet by 99% amid start of legal trial
The trading volume of nonfungible tokens (NFTs) linked to ex-US President Donald Trump has declined by 99% as his New York criminal trial commences.
Initially having hundreds of weekly sales in early February, the collection of 45,000 Trump Digital Trading Cards NFT saw a rapid drop in sales to only a few transactions since early March, according to OpenSea.
Notably, there have been no sales recorded for this collection since April 2. The newer version of Trump’s NFTs has…
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