News

Foresight Ventures Now Invests $15M In Crypto Market Maker CyberX

Key Points:

  • CyberX announced the completion of a $15M Series A+ funding round from Foresight Ventures.
  • The company plans to use the funding to expand its team in Asia and North America, integrate more exchanges and DeFi protocols into its liquidity network, and strengthen its trading infrastructure to further improve liquidity and pricing for its partners and clients.
According to PRWeb, Foresight Ventures, a crypto venture capital firm with over $400 million in assets under management, has made a strategic investment of $15 million in cryptocurrency market creator CyberX.

CyberX plans to use the capital to grow its workforce in Asia and North America, integrate new exchanges and decentralized finance (DeFi) protocols, and expand its trading infrastructure. Decentralized finance is the practice of conducting financial transactions on a blockchain without the need for traditional middlemen.

Market makers are essentially trading businesses that bet on tokens and take the opposite side of deals on exchanges when other traders are attempting to buy in or out rapidly. The collapse of the multibillion-dollar crypto exchange FTX sparked concerns about the industry’s overall liquidity, and market makers came under scrutiny.

Algorithmic market creation in spot and derivatives markets, futures options, structured products, over-the-counter services, and DeFi protocols are among CyberX‘s liquidity solutions.

Blockchain technology has transformed the way value is exchanged in TradFi. As a crypto market maker, we aim to connect assets efficiently and transparently with our proprietary technology to provide liquidity across trading venues, DeFi protocols, and NFT marketplaces. We have been developing liquidity solutions for the crypto industry since 2016. Our infrastructure is robust and has been proven to be successful in coping with a variety of long-tail risks under extreme market conditions. The current funding will accelerate our expansion plan for an enhanced liquidity network and continuously adapt our system to new developments in DeFi and NFT sectors.

said Hao Wang, CEO of CyberX

CyberX was founded in 2016 by a group of Wall Street veterans and now has offices in the U.S., Canada, Hong Kong and Singapore, CyberX has established a large crypto liquidity network with a daily trading volume of $400 million and a network encompassing more than 30 venues and 5,000 tokens with 10,000 trading pairings. In the last year, CyberX’s trading volume has nearly doubled, with DeFi coverage accounting for at least 40% of overall trading activity.

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

Thana

Coincu News

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.

Recent Posts

Analyst Sounds Major Breakout Alert Amid Shiba Inu, WallitIQ, And Dogecoin Price Recoveries

Analysts highlight a breakout alert as Shiba Inu (SHIB), and Dogecoin show signs of recovery…

25 minutes ago

SEC Chair Gary Gensler Will Lose Power From January 20

SEC Chair Gary Gensler will step down on January 20, 2025, coinciding with President-elect Donald…

27 minutes ago

MicroStrategy Convertible Notes Now Out of Stock With $3B Raised

The MicroStrategy convertible notes offering, initially set at $1.75 billion, was increased to $2.6 billion…

55 minutes ago

Qubetics, Cosmos, and Chainlink: Why These Cryptos Are Your Best Bet for November 2024

Discover why Qubetics, Cosmos, and Chainlink are the best cryptos to buy in November 2024.…

4 hours ago

Best Cryptos to Buy in December 2024: Qubetics Presale Goes Ballistic as Ethereum and Quant Look to Build Momentum

Best Cryptos to Buy in December 2024: Qubetics ($TICS) presale explodes, Ethereum (ETH) eyes a…

7 hours ago

USDC and CCTP to launch on Aptos, with Stripe adding Aptos support in crypto products

Palo Alto, California, 21st November 2024, Chainwire

9 hours ago

This website uses cookies.