{"id":41147,"date":"2022-11-25T05:26:27","date_gmt":"2022-11-25T09:26:27","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=41147"},"modified":"2022-11-25T05:27:21","modified_gmt":"2022-11-25T09:27:21","slug":"matrixport-looks-to-raise-100m-at-1-5b-valuation","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/matrixport-looks-to-raise-100m-at-1-5b-valuation\/","title":{"rendered":"Matrixport Looks to Raise $100M at $1.5B Valuation"},"content":{"rendered":"\n
Every month, Matrixport trades $5 billion of goods<\/a> and has $10 billion in assets under management and custody.<\/h5>\n\n\n\n
\"Matrixport
Matrixport Looks to Raise $100M at $1.5B Valuation<\/figcaption><\/figure>\n\n\n\n

Jihan Wu is in charge of the company Matrixport, which wants to raise $100 million at a $1.5 billion valuation.<\/p>\n\n\n\n

At the sky-high valuation, lead investors have already committed $50 million, but the Singapore-based company is still looking for investors for the other half of the round, Bloomberg reported on Friday, citing anonymous<\/a> sources. By tweeting the article, the loan company seemed to confirm the news.<\/p>\n\n\n\n

In the last few months, the crypto industry has been in a lot of trouble because the prices of many cryptos have dropped sharply from their highs last year. Babel Finance, a company that competes with the crypto lender in Asia, has been reorganizing to deal with a lack of cash.<\/p>\n\n\n\n

The trouble only got worse when the cryptocurrency exchange FTX went bankrupt. The collapse of FTX<\/a> had an effect on the fixed-income offering from Matrixport.<\/p>\n\n\n\n

Matrixport closed a $100 million Series C round in August 2021. DST Global, C Ventures, and K3 Ventures led the round, and the company was worth $1 billion at the time.<\/p>\n\n\n\n

The company's website says it trades $5 billion every month, has $10 billion in assets under management and custody, and has $700 million in loans<\/a>. According to its LinkedIn page, Matrixport “serves individuals and over 500 institutions across Asia and Europe” and has licenses in Hong Kong and Switzerland<\/a>.<\/p>\n\n\n\n

Wu is the co-founder of Bitmain, which makes the most bitcoin mining rigs of any company in the world, and the head of Matrixport.<\/p>\n","protected":false},"excerpt":{"rendered":"

Every month, Matrixport trades $5 billion of goods and has $10 billion in assets under management and custody. Jihan Wu is in charge of the company Matrixport, which wants to raise $100 million at a $1.5 billion valuation. At the sky-high valuation, lead investors have already committed $50 million, but the Singapore-based company is still […]<\/p>\n","protected":false},"author":39,"featured_media":41149,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[132,1659,12426],"class_list":["post-41147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-funding","tag-matrixport"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/11\/image-120.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/41147","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\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=41147"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/41147\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/41149"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=41147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=41147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=41147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}