Wormhole abandoned by Jump Trading ? No, the platform for DApps returns to stand-alone and raises from fundsin particular from Jumpto a valuation from 2.5 billion dollars. For its developmenthis foundation creates Wormhole Labs.
Jump Trading is it getting rid of Wormhole which he had saved a year earlier after a hack? That’s what recent rumours suggested. In truth, TradFi’s company remains committed to the crypto player as it enters a new phase of its development.
Indeed, Wormhole has just made official a major fundraising round for this industry: $225 million at a valuation of $2.5 billion. Capital has not totally deserted the crypto sector, despite a very marked slowdown in financing operations.
Jump Trading investor still involved
Jump Trading is still on board, participating in Wormhole’s deal with key investors including Brevan Howard, Coinbase Ventures, Multicoin Capital, ParaFi, Dialectic, Borderless Capital and Arrington Capital – one of Celsius’s acquirers.
Wormhole describes itself as the provider of a platform for developers of decentralized applications, dApps. It is a blockchain infrastructure embedding a messaging protocol.
More concretely, the publisher offers a bridge enabling “secure and transparent transfers of value and data across a vast network of more than 30 major blockchains and hundreds of applications”.
645 million from TVL
Wormhole’s three-year track record justifies its valuation, with a reported transfer volume of over $35 billion and more than 750 million inter-channel messages.
In terms of TVL (total blocked value), it’s also peaking at around $3.8 billion. The bridge protocol now shows a much lower result, at $645 million according to DefiLlama.
The company also cites inter-chain oracle data flows and NFT transfers.
A blockchain network for the digital asset industry
To drive its development, Wormhole intends to walk on two legs, targeting both Web3 developers and institutional customers.
How? By “positioning itself as the leading blockchain communication network in the digital asset industry”. To complete its offering, the Foundation has announced the launch of Wormhole Labs.
As with other DeFi projects, the publisher has set up a dedicated engineering unit, which will become its core contributor.
Wormhole Labs is an independent technology company specializing in the creation of benchmark products, tools and implementations that help grow cross-chain business and development,” says the press release.
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