Decrypt, a cryptocurrency news firm, announced today it gathered $10 million from 22 investors to launch a Web3 media outlet. The $10 million it got from investors is reportedly equivalent to $50 million based on post-money valuation.
When Decrypt launched its website in 2018 in the ConsenSys Mesh incubator program, it wanted to help people globally understand the cryptocurrency and Web3 industry. Then, many people and organizations spoke positively about crypto. After years of producing content to explain the virtual assets industry, the organization reportedly includes 25 full-time staff and has an estimated 5 million monthly readers.
According to an announcement on the company’s website earlier today, its new investors include conventional VC companies, DAOs, and Web3 angel investors. Additionally, the organization says it is building a decentralized media structure with its team of journalists.
Reaffirming its goal to demystify the virtual assets industry for all readers, Decrypt further announced it will float two podcasts, daily email newsletters, interviews, etc., on its website. Additionally, it announced that it would execute live events under the auspices of Camp Decrypt.
In the firm’s initial three years, it enjoyed financing from ConsenSys Mesh and its CEO, Joe Lubin. However, it now spins into an independent media organization and says it can now take a more original Web3-native path.
Decrypt further calls on all cryptocurrency professionals, including builders, illustrators, journalists, etc., to advance its project. Interested persons could visit the media organization’s Discord channel for more details.
Gains Network Adds Leverage Trading For American Stock Prices
Gains Network, a decentralized finance-based system, said it launched the premier leveraged marketplace for American stock prices in the industry. Reports say the network will include on-chain leveraged trading of American stocks, thereby expanding the already large base of digital assets on the trading platform.
Also, the marketplace will reportedly test a beta tester version of the on-chain on three of the American stocks it intends to allow, with leverage. After launching the mainnet, more stock products will reportedly follow the initial three.
Speaking on the development, a representative of the organization remarked that the user-friendly rating of their system bettered. The representative said the quality of user-friendliness on the platform is close to the quality of a widely-operated system.
With the latest improvement, Gains Network raises the bar on the attractiveness of decentralized finance to consumers as it allows clients to buy and sell leveraged stocks on the network. Additionally, the network intends to expand the total liquidity of the Polygon network and DeFi services globally.
Gains Network announced that it would adopt a new artificial leveraged structure for trading with its token, the $GNS, on gTrade. As a result of the developments. The marketplace says it intends to assist clients with more liquidity.
For example, gTrade customers wouldn’t have to borrow assets. Instead, they can utilize the synthetic system. gTrade’s new system will therefore open a better degree of efficient liquidity while advancing the competitiveness of the marketplace. The trading place says it has executed different auditing processes by private firms to ensure a high level of security against cybercrime.
