• Unchained Capital – a crypto firm based in Austin, Texas – has garnered more than $60 million through a new funding round.
• This was a huge step down from the new all-time high it achieved in November of 2021 (at that time, it was trading for about $68K per unit).
• Vivek Pattipati – a partner at Vali that will soon be on Unchained Capital’s board of directors – said that while the crypto arena is enduring many challenges, he believes the company will serve as a primary leader and lift the industry out of its present doldrums.
Unchained Capital Secures $60 Million
Crypto firm Unchained Capital has recently secured more than $60 million through a new funding round from institutional investors. The news is positive for many reasons, as it appears to be returning to form and confidence is once again making its way into the arena after Bitcoin lost more than 70% of its value in 2022 and other digital assets followed suit.
Bitcoin Falls to Ten-Month Low
By the end of 2022, Bitcoin had fallen to mid-$16K range which was significantly lower than its November 2021 all-time high at around $68K per unit. In total, the entire crypto world lost more than $2 trillion in valuation throughout the year leading many investors to step away from investing in cryptocurrency altogether. However, with this latest surge in funding for Unchained Capital, it appears things are turning around as Bitcoin rose to a ten-month high around $30K before falling back into the high $20K range.
Vivek Pattipati Optimistic About Crypto’s Future
Vivek Pattipati – a partner at Vali who will soon join Unchained Capital’s board of directors – expressed his optimism for cryptocurrency’s future despite ongoing market chaos. He believes that Unchained Capital can differentiate itself by minimizing risk to both lenders and borrowers which will lead to resilience and an extraordinary opportunity to capture market share.
Unchained Capital Founded Seven Years Ago
Unchained capital was founded seven years ago in 2016 with the mission of helping long term HODLers and investors secure their financial freedom through digital assets such as Bitcoin and Ethereum. Since then they have become one of most trusted providers for bitcoin custody and financial services due their superior technology, risk management, regulatory compliance, and client service capabilities.
With this recent influx of funds, Unchained capital looks set to continue providing services across multiple cryptocurrencies with an increased focus on lending services whilst remaining compliant with all applicable regulations.