Cryptocurrency derivatives exchange Deribit has just completed a funding round in which it has raised a total of $40 million from existing shareholders, The Block has reported.
According to the publication, the company’s valuation has reached $400 million.
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The platform’s chief commercial officer, Luuk Strayers, has said that “it basically doesn’t matter,” as the funds have been provided by former investors, including QCP Capital, Akuna Capital and Dan Tapiero’s 10T Holdings fund. According to him, the situation is different when funds are raised from external sources.
He has added:
“It’s more a clawback of dividends from existing shareholders. We paid a high divided before and decided it’s more prudent to strengthen our balance sheet and retain assets instead of distributing them to shareholders.”