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Blockchain startup LightLink raises $6.2m as cryptocurrency VC activity shifts




Ethereum layer-2 blockchain LightLink secured $6.2 million in funding during an extended seed round.

Institutional and individual investors participated in the effort.

“No further rounds planned [at the moment],” the company stated in a social media post on Saturday, April 6.

LightLink extended the seed round due to high demand from investors. The startup ended up receiving an additional $1.7 million in the process. ‘

The company plans to use this influx of capital to support its vision of a web3 ecosystem accessible to millions while advancing proprietary technologies for gasless transactions.

Roy Hui, LightLink’s co-founder and CEO, expressed enthusiasm about the investment, highlighting the company’s commitment to practical blockchain solutions.

Our mission at LightLink is to make blockchain practical and accessible. This investment will help us continue building a Web3 ecosystem for millions of users from our enterprise partners and enhance our proprietary technology for gasless transactions. -Roy Hui, LightLink CEO and co-founder

The extended seed round saw participation from prominent venture capital (VC) firms such as MH Ventures and NxGen, alongside contributions from individual crypto investors like Eric Cryptoman and Satoshi Stacker.

LightLink reportedly records about 115,000 daily transactions and enjoys a strategic alliance with Animoca Brands.

Additionally, one of its upcoming initiatives is the launch of its LL token, backed by a liquidity bootstrapping pool. The move is designed to ensure equitable distribution and efficient price discovery within the LightLink ecosystem, which facilitates instant, gasless transactions for dapps and enterprises.

The company’s successful seed round comes against a backdrop of renewed VC interest in the crypto space.

According to data gathered by Crypto Koryo, venture capital funding in crypto projects has surged by 38% since Q4 2023.

Crypto Koryo’s data indicated that the number of crypto projects receiving VC funding also increased by 49%.

Venture firms such as Andreessen Horowitz, OKX Ventures, and Paradigm led major investment rounds in the first quarter of 2024.

In March alone, crypto VC funds invested over $1.1 billion across 180 crypto startups, with a focus on infrastructure and decentralized finance projects.

This upward momentum in VC funding mirrors the trend seen in the fourth quarter of 2023, which observers say indicates a positive outlook for continued growth and innovation in the crypto space.


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Correction: CBiGroup Completes $15M Series A Funding, Focuses on R&D




CBiGroup Completes $15M Series A Funding, Focuses on R&D

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COTI V2 changing private play on blockchain via encrypted circuit




COTI V2 is revolutionizing blockchain technology with private play through encrypted circuits, offering enhanced speed and efficiency. Currently, the Genesis builder network is live, and the company is inviting developers to join their program. The network supports private play upgrades for Ethereum.

As a privacy-focused Ethereum layer 2 solution, COTI V2 employs advanced encryption technology and encrypted circuits, enabling operations on all devices without compromising personal data.

The primary goal of COTI V2, as outlined in its whitepaper, is to address private play issues on blockchains. Developers can protect privacy through encrypted circuits. The COTI V2 Devnet provides a user-friendly, connectible EVM space (gcEVM) using the Solidity programming language.

Additionally, the COTI V2 network offers developers tools for privacy play with TypeScript and Python SDKs, along with EVM RPC, documentation, a faucet, an explorer, and Hardhat.

COTI has received positive feedback from Civic, a provider of Web3 identification toolkits.

The COTI Foundation plans to launch a privacy-focused growth fund, the ABC Growth Fund, allocating 400 million COTI tokens to provide real-time privacy services.

Developers using the COTI V2 builder network can explore use cases such as confidential DeFi, private payment transactions, stablecoins and RWAs, on-chain data control, confidential AI and machine learning, and decentralized identity recognition.

According to COTI CEO Shahaf Bar-Geffen, the COTI V2 builder and developer program is now available to the public, inviting developers to join the network.


The post COTI V2 changing private play on blockchain via encrypted circuit appeared first on HIPTHER Alerts.

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Justin Sun Emphasizes the Importance of User Protection




Justin Sun, the founder of the Tron Foundation, recently emphasized the critical importance of protecting users in the cryptocurrency sector. Drawing on the experiences of industry leaders like Jack Ma and Changpeng Zhao, Sun argued that prioritizing user safety above the interests of investors, partners, and employees is essential for building trust and ensuring the sector’s long-term sustainability.

He acknowledged that this focus is challenging but necessary for fostering a secure and reliable crypto environment. Sun’s perspective highlights the need for the crypto industry to evolve in a way that prioritizes user interests. He believes that learning from successful leaders can help guide this process. By adopting these principles, the industry can better protect its users and create a more trustworthy ecosystem. Sun’s advocacy for user protection underscores a broader vision of developing a safer, more user-centric cryptocurrency landscape.

His comments reflect a commitment to ensuring that the industry’s growth is not only rapid but also responsible and sustainable. This approach, according to Sun, will ultimately benefit everyone involved in the cryptocurrency space by fostering greater confidence and reliability in digital financial systems.


The post Justin Sun Emphasizes the Importance of User Protection appeared first on HIPTHER Alerts.

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