Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Bitcoin versus rates: the ultimate test for BTCs ‘Safe-Haven’-Use Case

2025-05-12

What Is Proof-of-Work (PoW)?

2025-05-12

.888: The domain for ambition and prosperity

2025-05-12
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Miro announces a strategic partnership with Enac Network to bring about a revolution in Enterprise Web3 apps

    2025-05-12

    Ripple CTO predicts a big shift with ZK certificates: Details

    2025-05-12

    Kalps integrates with ENI to promote blockchain -innovation and RWA -Tokenization

    2025-05-12

    EMC protocol joins Dagama to restore confidence in Real-World reviews

    2025-05-11

    Stability World AI and Web3 decision unite to reform the confidence in decentralized ecosystems

    2025-05-11
  • NFT

    NFT -turns 10.6% to $ 115 million, Doodles Rally 500%

    2025-05-11

    Drink-to-earn? A new sparkling water comes with an NFT and points

    2025-05-08

    Cobie says we will return if someone buys this $ 20 million NFT

    2025-05-08

    Edge Matrix, Colabs Partner to strengthen NFT -Makers

    2025-05-08

    Argentinian football club Partners with StepN to launch digital sneakers

    2025-05-05
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Cathie Wood doubles Bitcoin objective on 2030, says that BTC still has ‘miles’

    2025-05-12

    Analyst reveals factors that will make it happen in 2025

    2025-05-12

    Hyperliquid affects $ 6 billion in open interest while Bitcoin tests $ 105k near price discovery

    2025-05-12

    Brian Armstrong says that Coinbase considered placing 80% of the balance in crypto, but decided to be against it: report

    2025-05-12

    Bitcoin Price Breakout Brewing: Has a huge rally just started?

    2025-05-11
  • Learn

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-10

    What Is Proof-of-Stake (PoS)? A Beginner’s Guide

    2025-05-09

    What Is a Layer-1 (L1) Blockchain?

    2025-05-03

    What is a Layer-2 (L2) Blockchain Network Solution?

    2025-05-02
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Web 3»Wormhole Raises Record $225 Million Funding, Merges into Wormhole Labs for Cross-chain Expansion
Web 3

Wormhole Raises Record $225 Million Funding, Merges into Wormhole Labs for Cross-chain Expansion

2023-11-29No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Wormhole, the messaging protocol that enables cross-blockchain communications, has made headlines by securing a milestone $225 million in funding, valuing the company at $2.5 billion. Fortune reported the news as the company completed “the largest funding round for a crypto project in 2023.”

The funding round attracted several backers, including Brevan Howard, Coinbase Ventures, Multicoin Capital, Jump Trading, ParaFi, Dialectic, Borderless Capital and Arrington Capital. Intriguingly, Wormhole has reportedly opted for a new fundraising structure for a deal of this size, offering token warrants instead of traditional equity stakes, reflecting the evolving nature of crypto business financing.

Furthermore, in a strategic move, Wormhole announced the creation of Wormhole Labs, a new entity dedicated to protocol development. This announcement coincides with the completion of Wormhole’s spin-off from Jump Crypto, marking a new chapter in the company’s growth trajectory.

According to a statement, Wormhole Labs will be positioned as “an independent technology company” that specializes in building “products, tools and reference implementations that help grow cross-chain activity and development.”

The news shows Wormhole’s resilience and its ability to bounce back after it suffered a significant setback in 2022 when hackers targeted the bridge between Solana and Ethereum, leading to a significant loss of over $200 million. Wormhole’s backers, including Jump Crypto, replenished the lost funds.

The recent fundraising success has been seen by Saeed Badreg, CEO of Wormhole Labs, as a turning point, potentially reshaping the narrative around Wormhole to drive progress in “the relentless expansion of blockchains.” [which] is not a passing niche trend, but a sustainable transformation with Fortune 100 companies onboarding both public and private blockchains.”

See also  Okto Wallet partners with AggLayer to help cross-chain transactions

Wormhole’s market position and future prospects

Wormhole is known as a decentralized, universal message passing protocol or bridge in the blockchain communication network industry. The technology enables interoperability between major blockchains such as Ethereum and Solana, facilitating token and NFT transfers between chains. This capability positions Wormhole as a critical player in the blockchain ecosystem alongside others such as Axelar, LayerZero, deBridge and others, providing solutions that address the challenges of interoperability and decentralized application development.

Wormhole reports a transaction value of over $35 billion and processes over 2 million cross-chain transactions across multiple chains every day.

Looking ahead, Wormhole wants to play an important role in shaping the future of blockchain technology. With its recent funding, strategic organizational changes and ability to overcome challenges, Wormhole is focused on its mission to promote seamless communications over blockchain networks.

Source link

CrossChain expansion Funding Labs merges Million raises Record Wormhole
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

.888: The domain for ambition and prosperity

2025-05-12

Insight into DNS, Onchain + Web3 domains

2025-05-12

Simplify the participation of Onchain with .depin & .xyo

2025-05-12

NFT -turns 10.6% to $ 115 million, Doodles Rally 500%

2025-05-11
Add A Comment

Comments are closed.

Top Posts

Bitcoin Price Rebounds, but Can BTC Bulls Gain Strength Again?

2024-01-27

Webull ended its crypto offering due to SEC opposition during previous IPO attempts

2024-02-28

Bitcoin Mining Difficulty Hits New Record With 5% Rise

2023-11-26
Editors Picks

Animoca Brands and Magic Eden collaborate on NFT Launchpad amid regulatory uncertainty

2024-09-17

Shiba Inu Price Prediction: If History Repeats Itself, SHIB Price Prepares for a 422% Rally in October

2023-10-01

Bitcoin Shark and Whales spend over $18 billion to buy BTC

2024-03-30

Epic Sats and Scraps of Paper: 5 Crazy Crypto Auctions

2024-04-30
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Bitcoin versus rates: the ultimate test for BTCs ‘Safe-Haven’-Use Case

What Is Proof-of-Work (PoW)?

.888: The domain for ambition and prosperity

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$102,831.29-1.10%
  • ethereumEthereum(ETH)$2,483.91-0.14%
  • rippleXRP(XRP)$2.599.66%
  • tetherTether USDt(USDT)$1.000.00%
  • binancecoinBNB(BNB)$665.722.03%
  • solanaSolana(SOL)$173.971.31%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2326521.34%
  • cardanoCardano(ADA)$0.822.71%
  • tronTRON(TRX)$0.2760855.32%
  • suiSui(SUI)$3.97-0.02%
  • chainlinkChainlink(LINK)$16.80-0.08%
  • avalanche-2Avalanche(AVAX)$24.870.79%
  • stellarStellar(XLM)$0.3201794.29%
  • shiba-inuShiba Inu(SHIB)$0.0000160.67%
  • hedera-hashgraphHedera(HBAR)$0.2207198.65%
  • the-open-networkToncoin(TON)$3.452.05%
  • bitcoin-cashBitcoin Cash(BCH)$413.391.04%
  • piPi(PI)$1.167.60%
  • hyperliquidHyperliquid(HYPE)$24.450.41%
  • polkadotPolkadot(DOT)$5.151.07%
  • unus-sed-leoUNUS SED LEO(LEO)$8.532.50%
  • litecoinLitecoin(LTC)$101.611.53%
  • moneroMonero(XMR)$336.60-1.10%
  • pepePepe(PEPE)$0.0000140.74%
  • bitget-tokenBitget Token(BGB)$4.75-2.08%
  • daiDai(DAI)$1.000.01%
  • ethena-usdeEthena USDe(USDE)$1.000.06%
  • uniswapUniswap(UNI)$6.890.25%
  • bittensorBittensor(TAO)$452.081.06%
  • nearNEAR Protocol(NEAR)$3.181.32%
  • aptosAptos(APT)$5.940.71%
  • aaveAave(AAVE)$221.801.16%
  • okbOKB(OKB)$54.52-0.88%
  • ondo-financeOndo(ONDO)$1.030.74%
  • kaspaKaspa(KAS)$0.12027810.63%
  • internet-computerInternet Computer(ICP)$5.822.38%
  • ethereum-classicEthereum Classic(ETC)$19.890.07%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2613382.03%
  • vechainVeChain(VET)$0.0316542.67%
  • crypto-com-chainCronos(CRO)$0.1022154.54%
  • mantleMantle(MNT)$0.811.22%
  • render-tokenRender(RENDER)$5.190.54%
  • gatechain-tokenGateToken(GT)$21.860.29%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.21-3.29%
  • ethenaEthena(ENA)$0.394631-1.57%
  • usd1World Liberty Financial USD(USD1)$1.010.50%
  • algorandAlgorand(ALGO)$0.2464132.94%
  • filecoinFilecoin(FIL)$3.170.40%
  • cosmosCosmos(ATOM)$5.371.49%
  • bitcoinBitcoin(BTC)$102,831.29-1.10%
  • ethereumEthereum(ETH)$2,483.91-0.14%
  • rippleXRP(XRP)$2.599.66%
  • tetherTether USDt(USDT)$1.000.00%
  • binancecoinBNB(BNB)$665.722.03%
  • solanaSolana(SOL)$173.971.31%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2326521.34%
  • cardanoCardano(ADA)$0.822.71%
  • tronTRON(TRX)$0.2760855.32%
  • suiSui(SUI)$3.97-0.02%
  • chainlinkChainlink(LINK)$16.80-0.08%
  • avalanche-2Avalanche(AVAX)$24.870.79%
  • stellarStellar(XLM)$0.3201794.29%
  • shiba-inuShiba Inu(SHIB)$0.0000160.67%
  • hedera-hashgraphHedera(HBAR)$0.2207198.65%
  • the-open-networkToncoin(TON)$3.452.05%
  • bitcoin-cashBitcoin Cash(BCH)$413.391.04%
  • piPi(PI)$1.167.60%
  • hyperliquidHyperliquid(HYPE)$24.450.41%
  • polkadotPolkadot(DOT)$5.151.07%
  • unus-sed-leoUNUS SED LEO(LEO)$8.532.50%
  • litecoinLitecoin(LTC)$101.611.53%
  • moneroMonero(XMR)$336.60-1.10%
  • pepePepe(PEPE)$0.0000140.74%
  • bitget-tokenBitget Token(BGB)$4.75-2.08%
  • daiDai(DAI)$1.000.01%
  • ethena-usdeEthena USDe(USDE)$1.000.06%
  • uniswapUniswap(UNI)$6.890.25%
  • bittensorBittensor(TAO)$452.081.06%
  • nearNEAR Protocol(NEAR)$3.181.32%
  • aptosAptos(APT)$5.940.71%
  • aaveAave(AAVE)$221.801.16%
  • okbOKB(OKB)$54.52-0.88%
  • ondo-financeOndo(ONDO)$1.030.74%
  • kaspaKaspa(KAS)$0.12027810.63%
  • internet-computerInternet Computer(ICP)$5.822.38%
  • ethereum-classicEthereum Classic(ETC)$19.890.07%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2613382.03%
  • vechainVeChain(VET)$0.0316542.67%
  • crypto-com-chainCronos(CRO)$0.1022154.54%
  • mantleMantle(MNT)$0.811.22%
  • render-tokenRender(RENDER)$5.190.54%
  • gatechain-tokenGateToken(GT)$21.860.29%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.21-3.29%
  • ethenaEthena(ENA)$0.394631-1.57%
  • usd1World Liberty Financial USD(USD1)$1.010.50%
  • algorandAlgorand(ALGO)$0.2464132.94%
  • filecoinFilecoin(FIL)$3.170.40%
  • cosmosCosmos(ATOM)$5.371.49%