Sygnum Bank achieves Unicorn status following $58 million funding round to expand Bitcoin focus Switzerland and Singapore-based crypto bank Sygnum has raised $58 million in an oversubscribed strategic growth round, achieving Unicorn status with a post-money valuation of more than $1 billion. Fulgur Ventures, a venture capital firm specializing in Bitcoin BTC +5.14% technologies, was the cornerstone investor in the final close of the round, Sygnum said in a statement shared with The Block. It is joined by new and existing strategic and financial investors. Sygnum team members also participated on equal terms, continuing to hold majority ownership alongside co-founders and the board, according to the company.
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Crypto M&A deals expected to rise in 2025, top VCs say Crypto mergers and acquisitions (M&A) activity rose to 248 deals in 2024, up from 221 in 2023, according to The Block Pro data. While improved, it remains below 2022's all-time high of 271 deals, signaling steady yet restrained growth. "M&A was still quite muted in 2024, with a lot of companies and protocols unsure of what the future regulatory environment could look like," Rob Hadick, general partner at Dragonfly, told The Block. "With that said, most of the potential acquirers were crypto natives, who often wanted to use their own bloated valuation marks from 2021 to acquire companies with their equity consideration, especially as most are not cash-rich. That meant that while there were a lot of conversations on M&A activities, ultimately very few transacted outside of Stripe-Bridge."
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If you want to have a centralized blockchain, just build your chain in Python, use a centralized SQL database, ask ChatGPT to fix any errors, and call it a day. You’re just making it harder for yourself pretending to be decentralized. Save yourself the engineering work.
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