Miguel Cordon · · 1 min readCrypto unicorn Matrixport eyes $1.5b valuation with $100m raise
Matrixport Technologies, a crypto unicorn from Singapore, is eyeing a US$100 million raise to hit a US$1.5 billion valuation, Bloomberg reported, citing people aware of the situation.
The crypto lender – led by Bitmain’s billionaire founder Wu Jihan – has already secured US$50 million in commitments from lead investors, the sources said. Matrixport is still looking for investors to raise the other half of its target, they added.
Tech in Asia has reached out to Matrixport to find out more.
The reported fundraising plans come against the backdrop of the sudden downfall of FTX, which was once considered one of the largest crypto exchanges in the world.
The Sam Bankman-Fried-led company’s liquidity issues sent shockwaves that hit a multitude of other crypto firms. This includes Holdnaut, another Singapore-based crypto lender, which was already reeling from the Luna-Terra fiasco earlier this year.
See also: Singaporeans feel ‘betrayed’ by Temasek-backed FTX
Editing by Lorenzo Kyle Subido
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