Ethereum-based Across Protocol has raised $41 million by selling its ACX token. The investment round was led by Paradigm with participation from Bain Capital Crypto and Coinbase Ventures.
Investment Round for Across Protocol
Across Protocol raised $41 million by selling ACX tokens to investors. Paradigm was the leading investor, with participation from Bain Capital Crypto and Coinbase Ventures.
Role of Risk Labs and Comments
Hart Lambur, co-founder of Risk Labs, stated that Risk Labs conducted the sale of ACX tokens. The sale price or valuation was not disclosed. Dan Robinson from Paradigm commented, "We believe Across’ vision is the right way to unify the Ethereum ecosystem, and we’re excited to continue working closely with them."
Market Reaction to the News
Following the news of the investment, the price of the ACX token rose by 12%.
The successful fundraising by Across Protocol highlights investor interest in the initiative, paving the way for further development. The involvement of major industry players opens up new growth opportunities.
