Microsoft Invested In Wemade In A $46 Million Funding Round
Although Wemade was founded in the early 2000s, it just shifted to Web3 and debuted both its mainnet and a stablecoin last month.
Microsoft dabbled in Web3 earlier this year by investing in blockchain software developer Consensys. A job posting for a Web3 and blockchain product manager also indicated that the company was attempting to form an internal team. It participated in a financing round for the decentralized data platform Space and Time in September.
Henry Chang, CEO of Wemade, stated:
“This is a meaningful investment by reputable financial and strategic investors with proven track records. Wemade and Wemix will continue to exert efforts to attract more capital and actively invest to build the global digital economy platform.”
Wemade fell into difficulty last week with its new WEMIX stablecoin due to a mismatch between the token’s intended and actual distribution and a lack of clear transparency regarding the circulating quantity.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
Santa Clara, USA, 1st July 2024, Chainwire
The new meme coin Base Dawgz ($DAWGZ) has steadily gained popularity despite the bearish market,…
Participants can win a share of the US$5,000 of USDC prize pool simply by margin trading…
Get ready for the ultimate AI event of the year at the RenAIssance: Real Not-Bluffing…
A LayerZero critical vulnerability is being suspected by users, causing CEO Bryan Pellegrino to speak…
Polymarket punters now estimate a 44% chance Joe Biden presidential campaign will end before November.
This website uses cookies.