TLDR:
Shiba Inu raises $12 million in a strategic venture capital round for its new FHE blockchain via $TREAT. Non-U.S. VC strategic partners include Mechanism Capital, Big Brain Holdings, Cypher Capital, and more.
Article Summary:
Shiba Inu, an interconnected ecosystem of digital assets built on the Ethereum blockchain, has raised $12 million in a strategic venture capital round from non-U.S. strategic partners. These partners include Mechanism Capital, Big Brain Holdings, Cypher Capital, and others. The investment is made through the purchase of the not-yet-released $TREAT utility and governance token.
$TREAT is the final unreleased token by Shiba Inu, expected to unlock the newly announced blockchain featuring Fully Homomorphic Encryption (FHE) technology. This encryption chain aims to solve privacy and trust issues in the crypto space for Shiba Inu’s large community and the next billion crypto-curious individuals.
Lead Developer Shytoshi Kusama expressed excitement about the support from powerful VCs, angel investors, and brands, stating that this funding will help Shiba Inu reach new heights in its decentralized experiment. The funds will be used to build the new FHE blockchain, expand security, ensure regulatory compliance, and develop Shibarium as a meme center of the world.
Shiba Inu’s ecosystem includes $SHIB, $LEASH, and $BONE tokens, as well as native NFTs. The project aims to power quality technologies like SHIB:The Metaverse and Shibarium, providing scalability, security, and innovation in a decentralized world.
