Crypto Exchange Company Raises $120 Million
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Crypto Exchange Company Raises $120 Million

February 18, 2021      Sahaj Sharma, a crypto wallet and exchange company, recently made an official announcement that it has managed to raise a sum of $120 million. The company introduced itself in the market as a blockchain explorer and develops a famous cryptocurrency wallet and exchange. The latest funding round mainly included global macro investors such as Moore Strategic Ventures.

Crypto Exchange Funding Round

In the funding round held as of February 17, 2021, investors including Lakestar, Rovida Advisors, Moore Strategic Ventures, Access Industries, Lightspeed Venture Partners, Eldridge, and many more participated. 

Since the creation of the company, it has managed to raise funds over $190 million. According to recent data shared by the cryptocurrency service provider, about 65 million wallets have been created on the official website of 

Peter Smith, the co-founder and CEO of the company, shared his views on the rise of BTC price recently, he said:

“What excites me most about this moment is the immense optimism about cryptocurrency from serious institutional investors. In fact, the current bull run is dominated by stories of Fortune 500 companies, investment funds, and institutions driving net inflows into crypto.” 

Addressing the growth of the cryptocurrency, an industry with a market capitalization of $1.55 trillion as of today, Smith called cryptocurrency the Robin Hood of finance, saying:

“The fact that the best macro investors in the world participated in our latest fundraise is further proof that institutions are taking a serious look at their crypto strategy.”

The Surge in BTC Transactions

Since 2012, about 28% of the total BTC transactions have taken place in the wallets managed by 

Initially named, the company began its journey in this industry as a Blockchain explorer, and since 2014 remarkable growth has been witnessed in the company as its Series A round involved transaction volume of billions of dollars.

The current rise in the industry is dominated by popular and large-cap companies that drove a huge amount of money into it.

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Sahaj Sharma
Sahaj Sharma

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.