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Kraken's $42.5 Million Funding: New Ventures on Optimism

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by Giorgi Kostiuk

2 years ago

This week, Kraken took the spotlight by raising $42.5 million from Optimism for its Ink project.

Kraken's Funding

Kraken announced the launch of Ink, a new layer-2 on the Optimism blockchain. They will receive $42.5 million, which equals 25 million OP tokens. The total funds raised by the exchange to date now amount to $164.8 million.

Glow Labs Raises $30M

Glow Labs, a platform focusing on solar energy adoption, has raised $30 million from investors like Framework and Union Square Ventures.

Other Major Investments of the Week

Nillion raised $25 million, Ellipsis Labs collected $21 million, Chainway Labs received $14 million, and Gelato Network secured $11 million. Companies like Sapien AI and PumpBTC raised $10.5 million and $10 million, respectively. BitSmiley also garnered $10 million for its DeFi developments.

This week marked a significant milestone for crypto companies with several major investments highlighting the growing interest in blockchain technologies.

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