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.

Disclaimer: The above content is collected from the Internet, and the copyright of the work belongs to the original author. All content is for the purpose of conveying information. It does not mean that this site agrees with its views, and it does not serve as any investment guidance.There are risks in the currency circle, investment needs to be cautious

Total
0
Shares
Related Posts

How Much Do Ethereum 2.0 Validators Earn?

Key Facts: The more validators that join the network, the more each validator’s reward decreases. The first to join Ethereum 2.0 as stakers get higher returns. From the merge, miners will stop creating new blocks in Ethereum, and validator nodes will play…
Read More

Global Bitcoin adoption to reach 10% in 8 years

Global Bitcoin adoption to reach 10% in 8 years Blockware Intelligence predicts that BTC adoption will follow an S-curve pattern, just like disruptive technologies of the past. Although Bitcoin has recently fallen to its lowest price of the year, a new report…
Read More