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Even though Kathy Wood is selling her stake in Coinbase, one of the major cryptocurrency exchanges, it’s clear that investors are still thinking about the cryptocurrency market and its future. Although he no longer owns the broker’s shares, keep in mind that he owns a large part of a company called suiza_21.co.
Swiss company 21.co recently successfully raised $25 million in a funding round, bringing its value to $2 billion.company, which also owns Amon, Token provider focused on entering the world of DeFiAnnounced that it will use the funds to expand its product line and expand into new regions such as the Middle East.
Financing was handled by Marshall Weiss.Headquartered in London, includes contributions from Collab+Curency, Quiet Ventures, ETFS Capital and Valor Equity Partners.
Ophelia Snyder, co-founder of 21.co, said: “This expansion will include some of our pure new products, not just additional ETPs or additional tokens, but entirely new product areas.”
Ark Investments and Amon
Earlier this year, Amun and Ark Invest sought permission to register a bitcoin exchange-traded fund (ETF) in the United States, but were rejected by the SEC in March after failing to meet several requirements. Already applied. , regulators have refused to list spot-based cryptocurrency ETFs due to concerns related to money laundering and scams.
,Getting a Bitcoin ETF through the SEC will be very difficultThey’ve made it clear they’re not going to let this happen for long,” said Wood, who also owns a personal stake in the Swiss company.
The market downturn known as Crypto Winter affected 21.co’s business. Founded in 2018, the company peaked at $3 billion in assets under management in November 2021, when bitcoin and cryptocurrencies hit an all-time high of $69,000, according to a company21.co press release. The cap reached a record 3 billion.
The market is back around $950 billion today, but the founders of 21.co insist they are not afraid of bears. “We launched at the height of the last bull market. A month after launching our first product, we entered a secular bear market,” Rashon said, referring to a period of decline in 2018. He continued, “Most of our products were built in the last bear market. So the way we look at it is that everything we get today is because we built in the last bear market.”
Despite the cryptocurrency crash, his firm has gained $650 million in new net worth over the past 12 months and has grown its workforce by 75%. “I’m a shareholder. It’s a very happy thing, I might add,” Wood said.
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