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Unchained Capital – a crypto firm based in Austin, Texas – has garnered more than $60 million through a new funding round.
Unchained Capital Garners $60 Million
The news is positive for many reasons, a big one being that the crypto space appears to be returning to form, and confidence is once again making its way into the arena. All throughout 2022, the crypto space appeared to suffer from an apparent lack of interest due to ongoing price dips and other problems.
Bitcoin, for example, lost more than 70 percent of its value and fell into the mid-$16K range by the time the year was over. This was a huge step down from the new all-time high it achieved in November of 2021 (at that time, it was trading for about $68K per unit).
Many other digital assets chose to follow in BTC’s footsteps, and the crypto world lost more than $2 trillion in valuation in just under a year. This caused many investors to step away, and the industry lost a lot of the funding it was so prone to receiving over the past few years.
But with a new drop of happiness in the form of $60 million for Unchained Capital, it appears things are once again turning around. Not long ago, bitcoin rose to $30K, a ten-month high for the world’s number one digital currency by market cap, and while the price has once again fallen into the high $20K range, things are still in a powerful-enough position that crypto companies, right and left, are attracting institutional investors and new funding to help the industry expand and become more mature.
Vivek Pattipati – a partner at Vali that will soon be on Unchained Capital’s board of directors – said that while the crypto arena is enduring many challenges, he believes the company will serve as a primary leader and lift the industry out of its present doldrums. He commented:
In the midst of market chaos, Unchained has emerged as a highly trusted provider of bitcoin custody and financial services through superior technology, risk management, regulatory compliance, and client service. Particularly in lending, the company has differentiated itself by minimizing risk to both the lender and the borrower, leading to resilience and an extraordinary opportunity to capture market share.
Working for Long-Term HODLers and Investors
The company was founded seven years ago in 2016 and seeks to develop long-term technology for both individuals and enterprises looking to heighten their private key ownership. These figures are not interested in short-term gains and are instead looking to HODL their funds for a long while.
Unchained has also commented that the individuals it works with can maximize and secure their bitcoin holdings over “multiple generations.” Right now, the enterprise has more than $2 billion in bitcoin under its management.