Foreign media: Arca, a cryptocurrency asset management company, is in the final stage of Series B financing

BlockBeats news, on November 24, according to Blockworks reports, informed sources revealed that Arca, a cryptocurrency asset management company, is in the final stage of its B round of financing. Arca CEO Rayne Steinberg confirmed the new funding round in an interview, which could be finalized in the coming months. However, Rayne declined to identify the specific investors who committed to the Series B financing, or the entities currently conducting due diligence. According to Steinberg, the former co-founder of asset management company WisdomTree, this partly overlaps with Arca’s existing list of limited partners. Steinberg also declined to comment on the funding target and valuation for the round, citing that the financing is still ongoing.

Arca is less affected by the Terra incident because its mobile product offers monthly subscriptions and redemptions, the people said.

BlockBeats previously reported that on November 4, Arca had closed the Crypto income fund that had UST exposure, and the funds had been returned to investors. In January 2021, Arca completed a US$10 million Series A financing led by RRE Ventures.

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