TLDR:
– BounceBit raises $6 million in seed funding round to build BTC restaking infrastructure
– Funding led by Blockchain Capital and Breyer Capital
On February 28, 2024, BounceBit announced the successful closure of a $6 million funding round to develop BTC restaking infrastructure. The funding was spearheaded by prominent venture capital firms Blockchain Capital and Breyer Capital. Other investors in the round include dao5, CMS Holdings, Bankless Ventures, NGC Ventures, and more. BounceBit aims to bring DeFi innovations to the Bitcoin community by leading the charge in BTC restaking. They have already accumulated $445 million TVL just three weeks after the Early Access launch. The innovative BTC restaking mechanism at the core of BounceBit’s project allows for the shared security of infrastructure and DApps on the platform. The company is working towards their Mainnet Launch in April, with the Testnet expected to go live in March. Through an innovative CeFi + DeFi framework, BounceBit empowers BTC holders to earn yield across multiple networks.
