1. Cypher Capital's Investment in Hemi Labs
2. Development of the Hemi Network
3. Support from Investors and Partners

Cypher Capital, a multi-strategy crypto investment firm, today announced its participation in a $15 million seed funding round for Hemi Labs to develop and launch the Hemi Network, a modular blockchain unifying Bitcoin and Ethereum.

Cypher Capital's Investment in Hemi Labs

Cypher Capital has invested $15 million in Hemi Labs to support the development of the Hemi Network, a modular blockchain network that unites Bitcoin and Ethereum. The funding round also included participation from major investors such as Binance, Breyer Capital, Big Brain Holdings, Crypto.com, and others.

Development of the Hemi Network

Hemi Labs plans to use the funds to develop the Hemi Network, which includes the Hemi Virtual Machine (hVM) and the Hemi Bitcoin Kit (hBK). These tools will help developers create cross-chain smart contracts and improve interoperability between Bitcoin and Ethereum-based applications. The network will also include mechanisms to ensure security and seamless asset movement.

Support from Investors and Partners

Investors and partners of Hemi Labs are optimistic about the project's prospects. Hemi Labs co-founder Jeff Garzik highlighted the high quality and enthusiasm of the investors, emphasizing the importance of Cypher Capital's support for the project's success.

Cypher Capital's investment in Hemi Labs underscores the importance of integrating Bitcoin and Ethereum for the future of blockchain technologies. Hemi Labs plans to use the funds to create a supernetwork that will enhance the scalability and security of decentralized applications.