According to the Daily Planet, cryptocurrency exchange WOO X announced the completion of a $9 million strategic financing, all from WOO X's current and future designated market makers (DMM), with investors including Wintermute, Selini Capital, Time Research, Presto Labs, Pulsar, AlphaLab Capital, Efficient Frontier, Amber and Riverside Hedge. The main purpose of this strategic financing is to further strengthen the cooperation between market makers and WOO X and improve its liquidity. Jack Tan, co-founder of WOO, said that the new financing will be mainly used for global market expansion, reinvested in improving its product suite, obtaining regulatory licenses in key markets, and actively marketing to increase its market share in CeFi. He emphasized that the main purpose of the plan is to coordinate the interests of liquidity providers rather than raising funds, as the total amount is less than a quarter of the Series A financing. He also pointed out that only market makers participated in this round of financing, and they will help improve the liquidity of WOO X, rather than as a traditional venture capital fund.