FTX Ventures and Tiger Global Raise $350M for NEAR Protocol

NEAR Protocol Raised $350 million Led by hedge fund Tiger Global, FTX Ventures, this investment will help NEAR accelerate its goal of expanding the decentralized chain through the development of Dapp.

This $350 million will be used to develop and support application growth. Decentralized Finance (DeFi) on the NEAR ecosystem

NEAR also intends to establish a regional center in ‘Major community centers’ around the world

The move is the second round of funding undertaken by the NEAR Protocol, after it raised $150 million at the start of January. The fundraising round has also seen more investors get involved.

led by Tiger Global as well as Republic Capital, FTX Ventures Hashed, Dragonfly Capital, ParaFi Capital, Blockchange Ventures and MetaWeb Ventures.

Brian Lee, a partner at FTX Ventures, said:

“The NEAR ecosystem has fostered a strong developer community by leveraging a powerful combination of new programming models coupled with tested EVMs, and we are excited to support NEAR in the next phase of its development. grow”

refer : LINK

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