Connect with us

Hi, what are you looking for?

Jewish Business News

Unicorns

Fireblocks Raises $400 Million Now Has $8 Billion Valuation

Fireblocks

Fireblocks co-founders Idan Ofrat (from right), Michael Shaulov and Pavel Berengoltz (PR Pic)

Fireblocks, an Israeli fintech startup that specializes in cybersecurity, is now worth $8 billion. Talk about a unicorn! The valuation comes after Fireblocks brought in $400 million in a Series E round of funding.

The news comes after Fireblocks raised $133 million in Series C funding this past March. In July the company raised $310 million in Series D funding. So, the total comes to $843 million in new funding brought in so far in 2021.

And it is good news for a firm that is being sued over the loss of $75 million of the cryptocurrency Ethereum, ETH.

Fireblocks states that its tech streamlines operations by bringing a user’s exchanges, OTCs, counterparties, hot wallets, and custodians into one platform. Wallets, deposit addresses, and API credentials are secured using patent-pending chip isolation technology and the newest breakthrough in cryptography (MPC). Institutions are using Fireblocks to move funds securely in seconds – instead of hours.


With the Fireblocks DeFi API and Browser Extension, you can now securely access the full range of DeFi – decentralized finance – protocols for strategies like decentralized exchange (DEX) trading, lending/borrowing, staking, and yield farming.

Meanwhile, the company just launched support for Avalanche, what it calls one of the “most exciting new protocols for DeFi and beyond.”

DeFi is a blockchain-based form of finance that does not rely on central financial intermediaries such as brokerages, exchanges, or banks to offer traditional financial instruments, and instead utilizes smart contracts on blockchains.

Avalanche is a Layer 1 platform and protocol that aims to improve Ethereum’s scalability and confirmation times, with near-instant transaction finality. According to CoinTelegraph, “In contrast, Ethereum processes 15–30 transactions per second with over 1-minute finality.”

As Avalanche runs the Ethereum Virtual Machine (EVM), DeFi developers are able to seamlessly port their Solidity dApps onto Avalanche. Some of the top dApps on Avalanche include Aave, Trader Joe, BENQI, and Curve.

Avalanche’s native token is AVAX. AVAX is currently the 12th overall ranked token by market cap, with $21B TVL (including borrow-side lending).

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

Advertisement