Bitmart in Talks to Raise $300 Million

Bitmart Pursues $20 Million Funding Round

Bitmart, a cryptocurrency exchange, is currently negotiating a funding round of approximately $20 million. This valuation is based on a pre-money assessment of $300 million, as revealed by two individuals with direct knowledge of the discussions.

Alexander Capital Ventures Leading the Round

Alexander Capital Ventures, a firm with a proven track record of investment in prominent companies like Airbnb and Spotify, is reportedly in discussions to spearhead Bitmart’s Series B funding round. Information sourced from Crunchbase indicates that the exchange has previously secured around $10 million across various financing stages.

Financial Performance and Service Offerings

The exchange provides a comprehensive suite of services, including spot trading, leveraged futures contracts, and options for both lending and staking. These services cater to a diverse clientele, encompassing both individual and institutional investors.

Revenue generated by Bitmart reached $65 million during the first six months of 2021. This information was shared by sources who requested to remain anonymous due to the confidential nature of the financial details.

Global Ranking and Response to Inquiry

Bitmart is recognized as one of the top 15 cryptocurrency exchanges globally, based on trading volume as tracked by CoinGecko. A request for official commentary from Bitmart regarding these developments has, as of yet, gone unanswered.

The exchange’s position within the market highlights its growing influence in the digital asset space.