According to CNBC’s report on September 29, 2026, Coinbase Ventures and CMCC Global have completed a strategic investment in Raven, though the amount was not disclosed. Raven is an institutional market maker for prediction markets, providing liquidity to contracts by continuously placing buy and sell orders.

For crypto readers, what is worth paying attention to is that prediction markets are attracting institutional-grade market-making infrastructure players, and Coinbase Ventures’ involvement signals that leading exchange ecosystems are focusing on this space. However, the valuation, terms, and the current contract scale covered by Raven from this round of financing have not been disclosed, and whether it can truly improve the depth and bid-ask spreads of prediction markets remains to be confirmed.

Whether Raven will publicly disclose the list of prediction market platforms it has connected to and the number of market-making contracts involved can be observed later; if there is no ongoing disclosure of new collaborations or liquidity data over the long term, then the actual implementation impact of this round of fundraising remains in question.