Crypto exchange KuCoin was valued at $10 billion in the latest funding round. KuCoin, a cryptocurrency exchange, announced a $150 million Series B fundraising round headed by Jump Crypto on Tuesday, valuing the firm at $10 billion.
According to CoinMarketCap, KuCoin is the fifth-largest cryptocurrency exchange, with 10 million users in 207 countries. It intends to utilize the funds to grow its footprint in Web3, a decentralized utopian version of the internet built on blockchain technology.
The Seychelles-based trading services provider intends to utilize the capital to grow into crypto wallets, digital finance, and non-fungible tokens, and to create its online community of crypto users.
Circle Ventures, IDG Capital, and Matric Partners have all contributed to the newest capital round.
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Despite a drop in bitcoin and other assets this year, private investments in crypto companies have soared in 2022.
According to Pitchbook statistics, venture capital investment in such initiatives totaled $10 billion globally in the first quarter of 2022, the greatest quarterly sum ever and more than quadruple the level recorded in the same period a year before.
