Blockstream received $210 million from investors
-
Altcoin News
Bitcoin news
Blockchain News
blog
DeFi News
Exchange News
General
Market News
Prediction
Без рубрики
Johny Smith
2024/11/07
3 mins read
Following the appearance of Blockstream co-founder and CEO Adam Beck in an HBO documentary, the company announced it has raised $210 million through a convertible bond issue led by Fulgur Ventures. The funds received are planned to be used to accelerate the development and implementation of Level 2 technologies for Bitcoin, expand mining operations before the next market cycle and replenish our own BTC treasury.
Back noted that the funding will be an important milestone for Blockstream, helping the company enter a new stage of growth and expand the opportunities for interaction between Bitcoin and traditional financial structures. Key Layer 2 technologies from Blockstream include the Liquid Network, which is a federated sidechain that allows the issuance of tokenized assets, and Core Lightning, which implements the capabilities of the Lightning Network for faster and more accessible Bitcoin transactions.
Blockstream aims to leverage the growing interest in BTC as an asset class and expanding tokenization capabilities to position Liquid as the primary infrastructure for ecosystem-wide real-world asset tokenization.
To date, Liquid has issued more than $1.8 billion in tokenized assets, including stablecoins, bonds, and securities, and has locked more than 3,844 BTC (about $250 million) on the network. Examples of this platform include tokenized securities offered by Bitfinex and STOKR’s MicroStrategy Note, which is backed by MicroStrategy shares and is available for peer-to-peer trading on the Liquid DEX SideSwap.
Recently, Blockstream launched the 3rd series of its own token BMN2, which gives direct access to the Bitcoin hashrate. This allows investors to receive income from BTC mining. Among the organizational changes, Blockstream also announced the appointment of Michael Minkiewicz, former head of engineering at Luxoft, to the position of chief operating officer (COO).
Error in the text? Select it with the mouse and click Ctrl + Enter
33