- DeFi platform Coin98 has reported that it has received a significant investment from market maker DWF Labs.
- This comes amid a general decline in venture capitalist activity and interest in the cryptocurrency segment.
The Coin98 project team has announced that it has raised a “seven-figure” investment from market maker DWF Labs. The funds will be used to accelerate global Web3 adoption.
DWF Labs confirmed the information, but without elaborating on details. Whether other companies have provided money is not yet known.
“Pursuing the goal of bridging the gap between Web2 and Web3, Coin98 is building a full suite of products, including a wallet, crosschain bridge and other features that are under development,” the company said in a press release. </nbsp;
As a reminder, Coin98 is a multi-functional platform. Previously, Incrypted team conducted a detailed review of the project, you can read it at the link.
Also on our site there is an AMA-session with the participation of representatives of the site. In the piece, you’ll find additional details, the mission and plans of the developers.
In early June 2023, Fortune published a report on venture capitalist activity in the cryptocurrency space. According to it, only eight funds invested in projects in this area in the first half of the year.
In total, they raised about $500 million. That’s only 2.3% of the total investment in 2022. Venture capital organization activity has declined amid regulatory uncertainty, a general recession and a slowing market, the publication stressed.
Activity has declined amid regulatory uncertainty, a general recession and a slowing market, the publication said.