Bitmart, a cryptocurrency exchange based in the Cayman Islands, is reportedly seeking to raise $20 million at a pre-money valuation of $300 million.
What Happened: The exchange is in discussions with Alexander Capital Ventures for leading a Series B round after it raised $10 million in an earlier round. Located in New York City, Alexander Capital Ventures is a private equity firm focused on connecting its clients with pre-IPO investment opportunities and has previously backed the likes of Spotify Technology SA SPOT, Airbnb Inc. ABNB, and Uber Technologies Inc UBER.
Bitmart has a 24-hour trading volume of $1.3 billion and has over 431 tokens listed on the platform, according to CoinMarketCap data.
The development comes at a time when both Bitcoin BTC/USD and Ethereum ETH/USD continue to hit all-time highs. Bitcoin traded at $68,040 at the time of writing on Tuesday, while Ethereum traded at $4813.42.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
