Crypto startup Matrixport Technologies to raise $100 M, plans to be unicorn

As per reports, Bloomberg claimed that Matrixport Technologies, a Singapore-based crypto unicorn, is planning to raise $100 million to reach a valuation of $1.5 billion.

According to the reports, major investors have already committed US $50 million to the cryptocurrency lender, which is headed by Wu Jihan, the billionaire creator of Bitmain. They said, “Matrixport is still searching for investors to finance the remaining half of its aim.”

The rapid demise of FTX, which was previously regarded as one of the biggest cryptocurrency exchanges in the world, is the background against which the rumored fundraising efforts are being made.

The liquidity problems of the Sam Bankman-Fried-led company shocked numerous other crypto companies. Included in this is Holdnaut, a different Singapore-based cryptocurrency lender that was already in trouble following the Luna-Terra scandal earlier this year.