Victoria, Mahe, Seychelles, July 25, 2024 (GLOBE NEWSWIRE) -- BitFi, a pioneering CeDeFi platform announces the launching of a seed round fundraising with a $50 million valuation. The confirmed investors include Fundamental Labs, IBC Group Ventures,CGV FoF, TyreGate Capital Group, and Citizen Journalism Network Accelerator (CJNA). The platform was founded by Liu Han, former co-founder and CTO of Ascendex Exchange. After its early access launch on June 25th, the platform reached a peak Total Value Locked (TVL) of US$400 million in just one month.
BitFi combines the best parts of centralized and decentralized financial solutions to maximize the yields of multiple assets, like BTC, for its users. By leveraging multi-chain adaptability and sophisticated off-chain trading strategies, BitFi offers secured staking yield and multiple layers yield generation. Led by a team with a proven Wall Street background and deep expertise in quantitative trading, BitFi provides consistent, low-risk returns through neutral quantitative strategies, passive yields on multi-chains, and BitFi platform-specific rewards. This comprehensive approach positions BitFi as the premier selection for BTC holders seeking optimized returns and secured asset management solutions.
"This investment is based on BitFi’s transformative potential in the CeDeFi field," said Eric Yang, Managing Partner of Fundamental Labs. "We believe BitFi will be a game-changer in the Bitcoin CeDeFi ecosystem. With a seasoned and experienced team at the helm, BitFi is poised to address the evolving needs of BTC holders, offering them a superior experience and maximized returns."
“BitFi's vision aligns seamlessly with our commitment to fostering advancements in blockchain technology. We are confident that our investment, industry-leading marketing capability, and top-tier KOL resources will propel BitFi to new heights in CeDeFi” expressed Mario Nawfal, Founder of IBC Group.
BitFi invites investors, blockchain enthusiasts, and strategic partners to join them in shaping the future of CeDeFi. For more information about BitFi and the latest updates, please follow BitFi on X.
About BitFi:
Bitfi is a leading CeDeFi platform that combines secure staking mechanisms with innovative synthetic assets to create a robust and dynamic ecosystem. By leveraging cutting-edge blockchain technology and comprehensive quantitative strategies, Bitfi is committed to optimizing user returns safely and efficiently across multiple blockchains.
About Fundamental Labs:
Fundamental Labs is a leading blockchain and cryptocurrency investment firm dedicated to supporting and investing in innovative projects shaping the future of decentralized finance. With a track record of successful investments (such as Coinbase, Binance, Polkdot, etc), Fundamental Labs is committed to driving the growth and adoption of blockchain technology.
About IBC Group:
IBC Group has been a pioneer of cutting-edge growth hacking principles in the crypto space for the last 5 years. Since then IBC Group has successfully navigated its way through multiple bull and bear cycles, built up a wealth of experience and top-tier KOL resources, and is now one of the leading VC/Accelerator/Incubators in the space.
About CGV:
CGV (Cryptogram Venture) is a crypto investment firm headquartered in Tokyo, Japan. CGV and it’s predecessors invested more than 200 crypto projects since 2017. CGV’s investment mainly focused on Infrastructure, AI, DePIN as well as Bitcoin ecosystem. It also incubated a licensed Japanese yen stablecoin JPYW. Currently CGV has branches in Hong Kong, Singapore and Toronto.
About TyreGate Capital Group:
TyreGate Capital Holdings, LTD, was founded in February 2017. TyreGate is a wholly owned Principal Holding Company that combines a Family Office with a Private Equity and Activist Public Equity Asset Management Corporation that may be appointed to act under specific private mandates from investors (individuals or pooled investment vehicles) in private placements and other advisory services.
The TyreGate group, founded by a team of investment professionals, advocates and support staff, is led by both a Management Board and Investment Committee, and advised by an Advisory Board. Currently, TyreGate investments span across all sectors, in a mix of publicly listed and private securities, diversified Private Equity Funds, as well as currencies and commodities.
About CJNA:
The first community-led Accelerator, built by the largest media company on X and the fastest growing globally in 2024. Led by a top team with extensive investing and operating experience composed of some of the most influential figures in citizen journalism and blockchain.
