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The cross-chain protocol raised funds at a $2.5 billion market valuation, finalizing its separation from Jump Trading which is downsizing crypto operations due to scrutiny. Wormhole, a cross-chain bridge platform, raised $225 million at a $2.5 billion valuation from investors Coinbase Ventures, Multicoin Capital and Jump Trading which initially incubated the
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The investment round was accompanied by the launch of Wormhole Labs, an independent technology company “emerging from stealth to become a core contributor to Wormhole.” Wormhole, a blockchain protocol designed to address the interoperability challenges of pioneer blockchain networks such as Bitcoin and Ethereum, has secured $225 million in funding, propelling
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Jump Trading has spun off its cross-chain protocol, Wormhole, into an independent entity amidst a backdrop of major security breaches and ongoing regulatory scrutiny. Jump Trading has officially separated Wormhole, a prominent cross-chain protocol, establishing it as an independent entity. This move, as reported by Bloomberg, has led to the departure
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Several high-ranking Wormhole employees, including the project's CEO and COO, have left Jump to "run Wormhole as an independent entity," the publication reported, citing people familiar with the matter. The parting of ways comes less than two years after Jump poured $320 million into Wormhole after the inter-blockchain messaging platform
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A group of decentralized finance (DeFi) protocols have teamed up to solve liquidity problems in the Cosmos ecosystem. The teams involved include cross-chain bridging protocol Wormhole, liquidity aggregator Swing, lending protocol Tashi, and Cosmos network Evmos. According to statements from two of the teams involved, Wormhole will register five new bridged
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Wormhole has integrated Circle’s Cross-Chain Transfer Protocol (CCTP), allowing USD Coin (USDC) to be transferred between Ethereum, Avalanche, Arbitrum and Optimism via Wormhole-based bridges, according to a Sept. 20 announcement.The new feature is available to end-users via the Portal bridge, and developers can integrate it into their own apps using
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The Wormhole Gateway is designed to make it easier for developers and users to on-ramp liquidity into the Cosmos ecosystem. Original Source
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After a comprehensive review involving code evaluation and direct interaction with the bridge teams, the committee approved Wormhole and Axelar for Uniswap's specific use case of protocol governance. Other bridges including LayerZero, Celer, DeBridge and Multichain did not meet the foundation’s criteria. The report leaves open the possibility for some
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A $50 million fund has been launched to help startups that use the Wormhole cross-chain messaging protocol, according to a May 18 announcement. The new fund is being managed by venture capital fund Borderless Capital and is backed by over 20 other blockchain development teams and venture capital firms, including
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