Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Uniswap Labs, which developed the Uniswap protocol, is reportedly holding talks with potential investors for a new funding round.
The potential new round would value the startup at a unicorn valuation.
- According to TechCrunch on Friday (September 30, 2022), four anonymous sources revealed that Uniswap Labs is looking to raise between $100 million and $200 million in a new funding round, with a valuation of $1 billion.
- The startup is reportedly speaking to participants such as Polychain, and a Singaporean foreign fund, although the terms of the deal may change as talks with potential investors is yet to reach the final stage.
- Meanwhile, neither Uniswap Labs nor Polychain has issued a statement about the matter.
- In August, Uniswap token holders voted in favor of launching an independent entity called Uniswap Foundation (UF). The venture, which seeks to improve the growth of the protocolās decentralized ecosystem, was proposed by Devin Walsh and Ken Ng, with the proposal asking for a $74 million budget.
- Later in September, the Uniswap Foundation disbursed its first wave of grants worth $1.8 million across 14 recipients.
The post Uniswap Labs Looking to Raise $100 Million at $1 Billion Valuation: Report appeared first on CryptoPotato.
Publication date
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.