Market makers Flow Traders and Hudson River Trading have backed Sei Labs, a crypto startup founded by Goldman Sachs and Robinhood Markets Inc. veterans that is developing a blockchain aimed at speeding up decentralized finance transactions.
The investments are part of a $5 million seed round led by Multicoin Capital, with participation from Coinbase Ventures and GSR, New York-based Sei Labs’s founders said on Wednesday. Backers, which also include Delphi Digital and Tangent, will receive a mix of equity and future tokens from the platform.
DeFi applications -- through which users trade, borrow and lend crypto without a central intermediary -- are typically built using popular blockchains such as Ethereum and Solana. These chains often get congested as the networks get busier, stopping market makers from being able to place orders consistently. Sei Labs’s protocol, to be launched later this year, will feature a built-in order book allowing DeFi projects and institutional market...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...