📣 Biggest Crypto Investment Goes to Wormhole
posted 29 Nov 2023
Wormhole, a protocol for cross-chain transfers, secured a whopping $225 million investment at a $2.5 billion valuation, marking the highest fundraising in the crypto sector for the year 2023.
The round saw the involvement of major investors like Jump Trading, Multicoin Capital, Coinbase Ventures, Brevan Howard, and ParaFi, who received protocol's tokens in lieu of equity shares.
This significant financial boost comes amid a year of industry adversity and regulatory pressures.
In defiance of Wormhole's severe hacking incident in 2022, where hackers made off with around $320 million in crypto assets, investors continued to show their support. This event was among the most massive hacks recorded at that time.
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