Weekly Financing Report | 12 Public Financing Events; L1 Blockchain Shardeum Completes $5.4 Million Strategic Financing with Participation from Amber Group

Weekly Financing Report | L1 Blockchain Shardeum secures $5.4M in strategic financing in 12 public financing events with Amber Group participation.

Decentralized Finance

Thai crypto exchange Bitkub completes $17.8m funding round

Thai cryptocurrency exchange Bitkub has sold a 9.22% stake to local gaming firm Asphere Innovations for $17.8m. Founded in 2018 by Jirayut Srupsrisopa, Bitkub allows users to buy, sell and store cryptocurrency assets. The company received a license to operate in Thailand from the country’s finance ministry in early 2019. According to Bitkub’s financial report, it generated $80m in revenue in 2022, down 48% from the previous year, while the cryptocurrency winter caused an 86% drop in profits during the same period.

Digital currency service provider VersiFi secures HHG seed funding

Digital currency service provider VersiFi has announced it has secured seed funding from Hunting Hill Group (HHG), with no specific amount disclosed. The investment is said to be a strategic one, with VersiFi set to gain guidance and support from HHG to improve its product. HHG’s registered investment advisers will use VersiFi’s services going forward, with strategies covering cryptocurrencies and cross-asset classes.

• Rollup as a Service: A new era of blockchain scalability, the next modular battlefield
• Layer1 blockchain Sharduem completes $5.4 million financing, with a valuation of $248 million.
• Co-Chairman of the Hong Kong Blockchain Association, Fang Hongjin: The Hong Kong government should not issue a Hong Kong dollar stablecoin.

Venture Capital

LBank Labs launches $10m MEME special fund

LBank Labs has announced the launch of the $10m MEME special fund, designed to encourage high-quality early-stage innovative MEME projects. Funding allocations will be made directly to qualifying project teams, based on quality and impact. A leader board will be created, with regular publication of award winners, highlighting the achievements and contributions of projects. The fund is expected to complete disbursement within the next year, with the first batch of donation winners to be announced in early July.

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