FTX, Genesis, Voyager and Three Arrows have all exited the space in the past year. However, there are also new entrepreneurs and projects entering this market. Here are some potential projects that we see in the future, which may occupy a place in the market in the future. Ostium Labs: Cryptocurrency startup Ostium Labs has raised $3.5 million in funding, backed by investors including General Catalyst, LocalGlobe, SIG and Balaji Srinivasan. The company is developing a digital commodity perpetual swap protocol aimed at attracting traditional commodity traders and cryptocurrency traders looking for a more transparent and flexible alternative to traditional derivatives platforms. The platform will support perpetual trading tied to oil, Bitcoin and FX counterparts of several major currencies, aiming to bring real-world assets to the blockchain. It has a partnership with Chaos Labs and plans to leverage Chainlink for pricing. Ostium Labs aims to fill a gap in the market by providing direct on-chain exposure to a wider range of asset classes.
JKLabs: JKLabs is a startup in the crypto space that aims to solve governance issues in decentralized finance and the web3 ecosystem by providing a platform that facilitates on-chain decision-making and community participation. Unlike traditional governance platforms that rely on token voting, JKLabs leverages on-chain reputation to determine a participant’s influence in the governance process, allowing for more meaningful and fair participation. This approach enables projects to organize competitions, hackathons, and grant programs while providing community members with opportunities to monetize and grow their audience, ultimately promoting a more transparent and effective governance model in the crypto industry. They recently raised $2 million in pre-seed funding from various investors.
Fractal: Fractal, a startup co-founded by Aya Kantorovich and Alex Elkrief, has raised $6 million to develop a platform designed to increase transparency in the clearing and settlement of digital assets. The company aims to prevent the kind of leveraged trading that led to the bankruptcy of firms like Three Arrows Capital and FTX, allowing clients to monitor their positions in real time and limiting borrowing collateral to crypto blue-chip coins to ease counterparties. facing liquidity problems.
Turnkey: Turnkey, a startup led by former Coinbase Custody executives, secured $7.5 million in seed funding to provide a developer-first platform for digital asset protection and management in the crypto industry. Their goal is to provide flexible, programmable solutions for generating wallets and signing transactions on different blockchain networks, solving the increasing complexity of on-chain transactions in the cryptocurrency space. The development comes in response to growing concerns about the security of digital assets, following a year in which cryptocurrency hacks caused $3.8 billion in losses, according to Chainalysis.
Architect:Brett Harrison, former president of FTX. He secured $5 million in funding from investors including Coinbase Ventures and Circle Ventures to build his new company, Architect. Architect will focus on providing software trading tools for decentralized finance to cater to large investors and institutions. The company aims to create institutional-grade trading technology that simplifies access to decentralized protocols and centralized exchanges for corporations, large traders, and large numbers of individual users. Source: Frank Chaparro's Biweekly
JKLabs: JKLabs is a startup in the crypto space that aims to solve governance issues in decentralized finance and the web3 ecosystem by providing a platform that facilitates on-chain decision-making and community participation. Unlike traditional governance platforms that rely on token voting, JKLabs leverages on-chain reputation to determine a participant’s influence in the governance process, allowing for more meaningful and fair participation. This approach enables projects to organize competitions, hackathons, and grant programs while providing community members with opportunities to monetize and grow their audience, ultimately promoting a more transparent and effective governance model in the crypto industry. They recently raised $2 million in pre-seed funding from various investors.
Fractal: Fractal, a startup co-founded by Aya Kantorovich and Alex Elkrief, has raised $6 million to develop a platform designed to increase transparency in the clearing and settlement of digital assets. The company aims to prevent the kind of leveraged trading that led to the bankruptcy of firms like Three Arrows Capital and FTX, allowing clients to monitor their positions in real time and limiting borrowing collateral to crypto blue-chip coins to ease counterparties. facing liquidity problems.
Turnkey: Turnkey, a startup led by former Coinbase Custody executives, secured $7.5 million in seed funding to provide a developer-first platform for digital asset protection and management in the crypto industry. Their goal is to provide flexible, programmable solutions for generating wallets and signing transactions on different blockchain networks, solving the increasing complexity of on-chain transactions in the cryptocurrency space. The development comes in response to growing concerns about the security of digital assets, following a year in which cryptocurrency hacks caused $3.8 billion in losses, according to Chainalysis.
Architect:Brett Harrison, former president of FTX. He secured $5 million in funding from investors including Coinbase Ventures and Circle Ventures to build his new company, Architect. Architect will focus on providing software trading tools for decentralized finance to cater to large investors and institutions. The company aims to create institutional-grade trading technology that simplifies access to decentralized protocols and centralized exchanges for corporations, large traders, and large numbers of individual users. Source: Frank Chaparro's Biweekly