Gauntlet is the latest $1 billion crypto unicorn
Having completed Series B funding, crypto-focused financial modelling platform, Gauntlet, is the latest crypto unicorn.
Gauntlet was founded in 2018. Its first investment was $2.9 million from Coinbase Ventures and five other participants in that same year. In 2020 it raised $4.4 million in Series A funding.
Now it’s worth $1 billion, based on those investments, making it a crypto unicorn. Gauntlet is, in basic terms, a platform that allows its clients to stress test cryptocurrency projects to better understand optimal lending and collateral levels.
Gauntlet counts large DeFi investment clients Aave and Compound as its main clients. The investment interest in the company highlights just how rapidly Wall Street itself is becoming fascinated by digital assets and their opportunity.
It’s worth noting that blockchain funding has become a major trend. There have been a dozen crypto unicorns in the past year along. Overall blockchain funding also tipped over US$25 billion ($25.2 billion) for the first time.
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