{"id":14424,"date":"2021-12-01T16:17:07","date_gmt":"2021-12-01T15:17:07","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=14424"},"modified":"2021-12-01T16:17:16","modified_gmt":"2021-12-01T15:17:16","slug":"1inch-network-concludes-175m-series-b-funding-round","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/1inch-network-concludes-175m-series-b-funding-round\/","title":{"rendered":"1inch Network concludes $175M Series B funding round"},"content":{"rendered":"\n
To boost protocol usability and access to liquidity in the decentralized financial industry, 1inch <\/a>Network has secured a $175 million Series B financing round.<\/h5>\n\n\n\n
\"1inch<\/figure>\n\n\n\n

According to 1inch Network\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, the financing round well surpassed the intended objective of $70 million, thanks to strong involvement from top venture funds. Amber Group, a crypto-finance startup, led the investment round, which included about 50 investors. Among the investors were VanEck, Jane Street, Fenbushi Capital, Alameda Research, Celsius, Nexo, Tribe Capital, and Gemini Frontier Fund.<\/p>\n\n\n\n

The cash will be used by 1inch Network to expand its capacity to deal with the current regulatory developments affecting the DeFi <\/a>business. The funds will also be used to enrol institutional clients, develop new protocols, and extend the utility of the 1INCH token, which currently has a market cap of over $650 million.<\/p>\n\n\n\n

DeFi will increase exponentially over the next three to five years, according to protocol co-founder Anton Bukov, with decentralized exchanges accounting for a bigger portion of the market.<\/p>\n\n\n\n

Developers have been targeted by 1inch Network's charity arm to advocate for future protocol updates. The 1inch Foundation announced a $3 million award program in July to encourage developers to participate in the protocol<\/a>.<\/p>\n\n\n\n

DeFi is made up of a diverse group of organizations and protocols working to disintermediate the financial system, and it has been growing at a breakneck pace since mid-2020. More than $273 billion has been invested in this varied ecosystem, with the crypto <\/a>bull market anticipated to continue beyond 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"

To boost protocol usability and access to liquidity in the decentralized financial industry, 1inch Network has secured a $175 million Series B financing round. According to 1inch Network , the financing round well surpassed the intended objective of $70 million, thanks to strong involvement from top venture funds. Amber Group, a crypto-finance startup, led the […]<\/p>\n","protected":false},"author":13,"featured_media":14432,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[5678,5668,5680,5679],"class_list":["post-14424","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-1inch-2","tag-business-2","tag-dex-2","tag-funding-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/12\/image-12.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/14424","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=14424"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/14424\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/14432"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=14424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=14424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=14424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}