Summary
TLDR: Ellipsis, a Solana-based decentralized exchange, secured $20 million in funding led by Paradigm and supported by public Ethereum figures. Nick van Eck, heir to VanEck, raised $12 million for his stablecoin startup Agora. Other notable fundraises include Paradigm raising $850 million, Sei injecting $10 million into its NFT ecosystem, Merkle Trade securing $2.1 million, and Xion raising $25 million.
Key Points
1. The developers behind Solana-based decentralized exchange Phoenix have secured $20 million in a Series A funding round for their startup Ellipsis, with funding led by Paradigm and support from Electric Capital and other industry leaders.
2. Public Ethereum figures, including Justin Drake, Mike Neuder, Tim Beiko, and Sreeram Kannan, also supported the development of Ellipsis, showcasing collaboration between individuals from competing ecosystems.
3. Nick van Eck, heir to investment management firm VanEck, raised $12 million for his stablecoin startup Agora in a seed round led by Dragonfly Capital, with plans to launch a fully collateralized stablecoin named Agora’s digital dollar (AUSD) pegged to the US dollar.