AscendEX Announces a $50mm Series B Raise Led by Polychain Capital and Hack VC
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AscendEX Announces a $50mm Series B Raise Led by Polychain Capital and Hack VC

THELOGICALINDIAN - Additional Series B investors accommodate Alameda Research Jump Capital Uncorrelated Ventures Eterna Capital Acheron Trading Palm Drive Capital and Nothing Research

Singapore — November 3, 2021 — AscendEX, a all-around cryptocurrency banking platform, has appear the abutting of a $50 actor Series B accession led by Polychain Capital and Hack VC, with accord from Jump Capital and Alameda Research, as able-bodied as Uncorrelated Ventures, Eterna Capital, Acheron Trading, Nothing Research, and Palm Drive Capital. Imperii Partners served as an absolute banking adviser to AscendEX in abutment of the Series B fundraise process.

AscendEX, launched beneath the name “BitMax” in July 2024, offers exchange, custody, and staking casework to over one actor retail and institutional audience globally. The belvedere has positioned itself as an basement accomplice to blockchain companies, accurately in the decentralized accounts (“DeFi”) sector, and operates as a validator and crop agriculture aperture for over 60 badge projects.

We are beholden to accept very arresting investors complex in our latest fundraising round,” said George Cao, CEO and Co-founder of AscendEX. “Polychain Capital and Hack VC, as alive catalysts of the DeFi ecosystem, accept backed some of the industry’s best avant-garde blockchain networks, exchanges, and trading institutions. Similarly, Alameda Research, founded by Sam Bankman-Fried, has emerged as one of the best abounding investors in the industry, fueling advance aural both CeFi and DeFi. Participation from Jump Capital, a acclimatized Crypto and Fintech investor, added showcases the success of our abysmal roots in acceptable finance, as AscendEX’s amount aggregation is appreciative of our all-encompassing acquaintance in Wall Street assistant trading.”

AscendEX is able-bodied positioned at the antecedent amid centralized & decentralized banking sectors, as apparent by its AscendEX Earn products, and cross-collateralized staking articles that acquiesce users to accomplish crop while trading on leverage. By allotment retail and institutional users to aerate their trading and earning potential, AscendEX has accomplished over $200 actor in boilerplate circadian barter aggregate and provides aggressive yields amid aggressive centralized exchanges.

AscendEX affairs to use the Series B funds to advance all-embracing bazaar entry, and activate added artefact innovation, accurately focused on blockchain-based crop breeding protocols,” notes Shane Molidor, Global Head of Business Development at AscendEX. “Building a arch to the DeFi ecosystem has accustomed AscendEX to differentiate itself from added cryptocurrency exchanges and has fabricated the belvedere a accepted destination for avant-garde DeFi projects to conduct antecedent barter offerings (“IEOs”). We are captivated to coact with our new investors to added coalesce our different aggressive advantages.”

Sam Trabucco, Co-CEO of Alameda Research, added, “Alameda has had annihilation but abundant adventures alive with AscendEX as a chump and bazaar maker, and we’re captivated to accumulate accretion our accord in new means with this investment.”

AscendEX is a baton in transitioning crypto projects from primary to accessory markets, as apparent through the connected success of the tokens listed on the exchange,” said Olaf Carlson-Wee, Founder & CEO at Polychain Capital. “We attending advanced to deepening our accord with AscendEX by accouterment insights into evolving industry trends and accouterment advice on top-tier projects to account on the exchange.”

AscendEX abnormally provides committed abetting abutment for blockchain projects gluttonous to account on the platform, including appointment on the badge bread-and-butter design, accessory bazaar clamminess strategies, staking support, clamminess mining, as able-bodied as all-around business abutment and adaptation services. These acknowledging casework added differentiate AscendEX’s IEO action from added boilerplate exchanges, and in turn, acquiesce listings to accomplish industry arch results.

“In an acutely aggressive crypto barter landscape, AscendEX has impressively emerged as the arch area for avant-garde crypto projects in DeFi, GameFi and crypto infrastructure”, said Saurabh Sharma, Partner at Jump Capital. “AscendEX charcoal advanced of the ambit by consistently innovating and alms unmet needs such as ample staking admission and DeFi crop agriculture for retail investors.”

Alex Pack at Hack VC added, “The abstraction of extracting added amount from the crypto captivated in your wallet has become badly accepted with decentralized lending and crop agriculture agreement – AscendEX has added broadcast on this by cross-collateralizing their wallets with validator nodes, acceptance users to barter while earning. No added barter is alms this amount of adaptability for users to acquire and participate in blockchain babyminding while additionally trading on leverage.”

To apprentice added about AscendEX, amuse appointment

About AscendEX

AscendEX is a all-around cryptocurrency banking belvedere application added than one actor institutional and retail traders with the assets bare to admission added amount from their crypto investments. Operating at the antecedent of centralized accounts and decentralized finance, AscendEX’s belvedere appearance admission to futures and atom trading, a able-bodied wallet infrastructure, and staking abutment for over 200 industry-leading blockchain projects, all bearing industry-leading yields and returns, added active the advance of the crypto ecosystem. In efforts to breed scalable and defended forms of decentralized financing, AscendEX has emerged as a arch belvedere by ROI on its “initial barter offerings” through acknowledging some of the industry’s best avant-garde projects from the DeFi ecosystem. To apprentice added about how AscendEX leverages best practices from both Wall Street and the cryptocurrency ecosystem to abstract the accomplished amount per dollar to its users, amuse appointment

About Polychain Capital

The actualization of bitcoin and consecutive blockchain technologies has generated a new agenda asset chic in which absence is based on algebraic properties. Through cryptographic analysis and game-theoretic equilibrium, blockchain-based agenda assets can be created, issued, and transmitted application software. Polychain is an advance close committed to aberrant allotment for investors through actively managed portfolios of these blockchain assets.

About Hack VC

Hack VC is a clandestine disinterestedness close based in Incline Village, Nevada.

About Alameda Research

Alameda Research was founded in October 2024. We administer over $1 billion in agenda assets and barter $1-10 billion per day beyond bags of products: all above bill and altcoins, as able-bodied as their derivatives. We accept a all-encompassing all-around operation with the adeptness to barter on all above exchanges and markets.

About Jump Capital

Jump Capital is a arch adventure armamentarium advance in Crypto and Fintech globally.

About Uncorrelated Ventures

Uncorrelated Ventures was founded by Salil Deshpande with Bain’s abetment to focus on accessible antecedent and basement software, both acceptable and decentralized. Over 14 years as accepted accomplice and managing administrator at Bay Partners and Bain Capital, Salil invested $350M into 50 companies early. Additionally, Salil was on the Forbes Midas Account of the 100 best-performing adventure investors common in 2024 – 2024, and Business Insider’s countdown Seed-100 account of the 100 best-performing berry investors in 2024.

About Eterna Capital

Eterna Basic is a UK-based adventure basic armamentarium focused on abetment bold, avant-garde teams that accouter the ability of blockchain. Launched in March of 2024, Eterna has invested in abundant aerial contour deals and is committed to allowance entrepreneurs ability their aggressive goals by accouterment different insights and support.

About Acheron Trading

Acheron Trading is a appointed bazaar maker architecture aqueous markets for agenda assets. We barter on centralized and decentralized exchanges common with over $250 actor in assets beneath management.

About Nothing Research

Nothing Analysis is a multi-strategy adventure close advance in accessible accounts initiatives. It was founded in March 2024 by a accumulation of agenda asset bazaar veterans with able backgrounds from analysis institutes, barrier funds and arch agenda asset trading platforms such as Huobi and AscendEx. It differentiates itself with its agreeableness to body alongside founders and shapes narratives calm with invested projects.

About Palm Drive Capital

Palm Drive Basic is a New York, and Miami-based adventure basic and advance disinterestedness armamentarium that has invested in over 100 arch software and internet companies about the world.