DeFi

Uniswap Raises $100 Million In New Funding At $1 Billion Valuation

Uniswap Labs is purportedly looking to finance between $100 million and $200 million at a $1 billion value.

According to Tech Crunch, which cited four people familiar with the situation, it is in the early stages of putting together the round.

According to the story, Polychain and one of Singapore’s sovereign wealth funds are engaged, however, the parameters of the agreement may alter as conversations advance.

Uniswap is the largest cryptocurrency decentralized exchange (DEX). The platform accounts for over two-thirds of the total volume of the DEX market.

According to DeepDAO, the Uniswap DAO has the largest treasury of any decentralized autonomous organization in the crypto realm, with $2.7 billion in reserves.

Last month, the company announced the formation of the Uniswap Foundation, an institution dedicated to expanding the ecology of the decentralized crypto exchange. Its first batch of awards totaled $1.8 million in September.

UNI price reacted quite positively to this news, currently trading around $6.46.

UNI daily chart. Source: CoinCu

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.