The $ 440 million investment in the circle is the biggest crypto trick in history

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Our list of the biggest crypto and blockchain investment cycles just got a new leader. Circle, creator of the second-largest stablecoin, USDC, has just raised $ 440 million in private investment from a range of private, institutional and strategic investors. Of the 12 largest crypto investments in history, five were in 2021, showing a change this year as money typically reserved for more traditional investments ends up in crypto.


Circle: $ 440 million

Date of transaction: May 28, 2021

Notable investors: Fidelity Management and Research Company, Marshall Wace, Digital Currency Group, FTX, Breyer Capital

Post-monetary assessment: N / A

Previous rating: $ 3 billion

The payment and treasury infrastructure provider best known as a leading developer of the $ 22 billion USDC stablecoin has raised $ 440 million from a large group of institutional and strategic investors. The Circle platform has supported more than 100 million transactions by more than 10 million retail customers and more than 1,000 businesses, according to a statement. Circle also recently became Visa

V
partner to help network companies settle transactions in USDC. During the past year, USDC has supported more than $ 615 billion in transactions, an increase of over 28,000% in the past 12 months.

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Bitmain: $ 422 million

Date of transaction: August 7, 2018

VC Tower: B1 series

Notable investors: Crimson Capital China, Bluebell (Asia), Jumbo Sheen Group, Lioness Capital, Palace Investment Company, Pavilion Capital

Post-monetary assessment: $ 15 billion

Previous rating: $ 12 billion

The world’s leading manufacturer of bitcoin mining hardware, Bitmain also operates Antpool, one of the leading bitcoin mining pools, accounting for over 12% of the hashing or computing power of the Bitcoin network. Shortly after the $ 422 million capital increase, the Beijing-based company filed for an IPO on the Hong Kong Stock Exchange in September 2018, but the offer failed in the middle of the bitcoin collapse and market recharge time.


BlockFi: $ 350 million

Date of transaction: March 11, 2021

VC Tower: D series

Notable investors: Bain Capital Ventures, partners of DST Global, Pomp Investments, Tiger Global, Susquehanna Government Products

Post-monetary assessment: $ 3 billion

Previous rating: $ 435 million

Founded in 2017, New Jersey-based BlockFi is now a leading provider of cryptocurrency lending. Its products cover several categories, including crypto-secured loans and interest-bearing accounts through which investors can earn interest on their crypto holdings. Rumors about BlockFi’s potential IPO started circulating last July following information about a job posting, part of which involved helping the company go public.


Dapper Labs: $ 305 million

Date of transaction: March 30, 2021

VC Tower: 5th round

Notable investors: Management of Coatue, Andreessen Horowitz, Michael Jordan, Kevin Durant

Post-monetary assessment: $ 2.6 billion

Previous rating: N / A

The Vancouver-based startup is best known as the developer of NBA Top Shot, an NFT marketplace for highlights or “moments” from basketball videos. The project, which has already passed the $ 400 million mark in trade volume, is largely responsible for the boom in non-fungible tokens (NFTs), essentially digital proof of ownership traceable on a blockchain. Previously, Dapper Labs had developed a popular Ethereum set of repeatable collectibles called CryptoKitties.


Blockchain.com: $ 300 million

Date of transaction: March 24, 2021

VC Tower: C series

Notable investors: partners of DST Global, Lightspeed Venture Partners, VY Capital

Post-monetary assessment: $ 5.2 billion

Previous rating: $ 3 billion

Blockchain.com provides a variety of crypto services to retail and institutional clients, but is best known for its non-custodial digital wallets. Unlike its third-party controlled counterparts, these wallets give users full control over their private keys which represent the ownership of crypto assets. The London-based company claims to have processed 28% of all Bitcoin transactions since 2012.


Bakkt: $ 300 million

Date of transaction: March 16, 2020

VC Tower: B series

Notable investors: Intercontinental Exchange (ICE), BCG Digital Ventures, PayU

Post-monetary assessment: N / A

Previous rating: N / A

In February 2020, the crypto-company of ICE (the owner of the New York Stock Exchange) announced the acquisition of Bridge2 Solutions, a provider of loyalty programs, to power the one-stop retail platform of Bakkt. Called the Bakkt App, the service allows users to aggregate various digital assets, including loyalty points, rewards programs, gaming assets, and cryptocurrencies, all in a single wallet. In January, Bakkt announced its IPO through a PSPC merger with VPC Impact Acquisition Holdings for an enterprise value of approximately $ 2.1 billion. Upon closing of the deal in the second quarter of 2021, the combined company will be listed on the New York Stock Exchange as Bakkt Holdings, Inc.


Coinbase: $ 300 million

Date of transaction: October 30, 2018

VC Tower: E series

Notable investors: Tiger Global Management, Andreessen Horowitz, Government of Singapore Investment Corporation (GIC), Polychain Capital

Post-monetary assessment: $ 8.04 billion

Previous rating: $ 1.71 billion

On February 25, the largest cryptocurrency exchange in the United States filed a direct listing request on the Nasdaq

NDAQ
Stock Exchange. Coinbase was valued at $ 68 billion, based on recent deposits. On March 19, the company was fined $ 6.5 million by the Commodity Futures Trading Commission (CFTC) for allegations of false reporting of trades and wash trades between 2015 and 2018 on its platform GDAX, later renamed Coinbase Pro. The direct listing of the stock exchange is scheduled for April 14.


Bitmain: $ 292.7 million

Date of transaction: June 19, 2018

VC Tower: B series

Notable investors: Sequoia Capital, Coatue Management, China Taijia, Blue Lighthouse Services

Post-monetary assessment: $ 12 billion

Previous rating: $ 100 million


Bitso: $ 250 million

Date of transaction: May 5, 2021

VC Tower: C series

Notable investors: Coatue, Tiger Global, Paradigm, Valor Capital Group, QED, Pantera Capital.

Post-monetary assessment: $ 2.2 billion

Previous rating: N / A

Founded in 2014, Mexico City-based Bitso is Latin America’s largest cryptocurrency platform. It offers several crypto products and services to over 2 million customers across Mexico, Argentina and Brazil. These include the Bitso application which allows users to buy, sell, send or receive bitcoins and 8 other cryptocurrencies; Bitso Alpha, a professional grade crypto trading platform; and Bitso Business, a cross-border product suite for local businesses. Bitso claims to have over 95% crypto market share in Mexico and over 60% in Argentina.


Hangzhou Qulian Technology: $ 235 million

Date of transaction: June 4, 2018

VC Tower: B series

Notable investors: Xinhu Zhongbao Company, China Gaoxin Investment Group, State Development and Investment Corporation

Post-monetary assessment: $ 470.25 million

Previous rating: $ 40.33 million

Qulian Technology provides blockchain products to major Chinese organizations and institutions, including the Ministry of Industry and Information Technology, State Administration for Market Regulation, national network and local governments. Its one-stop-shop blockchain open-service BaaS platform, FiLoop, is used by some of China’s largest banks, including China Construction Bank, Agricultural Bank of China and China Merchants Bank, according to the company. Qulian Technology partners also include Google

GOOG
and Microsof

MSFT
t.


Bithumb: $ 200 million

Date of transaction: April 19, 2019

VC Tower: 2nd round

Notable investors: Vidente, ID Ventures (South Korea), ST Blockchain Fund

Post-monetary assessment: N / A, valued at $ 888.27 million as of January 2021

Previous rating: $ 868.42 million

In September 2020, the Seoul Metropolitan Police Agency reportedly raided the offices of one of South Korea’s largest crypto exchanges over allegations of fraud, linked to a $ 25 million token sale that never materialized and resulted in losses for investors.


Ripple Labs: $ 200 million

Date of transaction: October 1, 2020

VC Tower: C series

Notable investors: Tetragon Financial Group

SBFG
, SBI Holdings, Transform capital, 10X Capital

Post-monetary assessment: 10 billion dollars

Previous rating: $ 410 million (2016)

In December, Ripple Labs and its executives were accused by the United States Securities and Exchange Commission of selling $ 1.3 billion worth of XRP, the native asset of the payments network developed by the company, as a unregistered security. Following the accusations, several exchanges and trading platforms, including Coinbase, Binance.US, and eToro, have removed XRP from the list and suspended its trading. In January, UK investment firm Tetragon Financial Group filed a lawsuit to buy back its equity in Ripple, but ultimately lost the case. Despite the fallout, XRP remains one of the most traded digital assets.



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