Singapore-based crypto lending firm Matrixport has secured half of a USD 100 million funding round at a USD 1. 5 billion valuation.

Despite the ongoing crypto lending crisis and the FTX meltdown that has affected the entire crypto industry, Matrixport is halfway through successfully completing its newest funding round. The company did not disclose the names of the investors who participated in the first half of the round, which yielded USD 50 million. The company became a unicorn in August 2022 following a Series C funding round that brought in over USD 100 million.

The Series C round was led by DST Global, C Ventures and K3 Ventures, and it brought Matrixport’s valuation to USD 1 billion. Other investors included Qiming Venture Partners, Tiger Global, CE Innovation Capital, Palm Drive Capital, A&T Capital, Cachet Group, and Foresight Ventures. According to Matrixport officials cited by cointelegraph.

com, this newest funding effort is part of the company’s normal course of business, and it enables investors to participate and support their vision as a digital assets financial services provider. According to the Matrixport website, the crypto lending firm deals with USD 5 billion in monthly trading volume, it has USD 10 billion in assets under management and custody, as well as USD 700 million in outstanding loans. Matrixport’s services include digital asset custody, trading, lending, and structured products.

Has Matrixport been affected by the FTX collapse? On 11 November 2022, following Binance’s refusal to buy FTX and the company’s failure to find another investor, Sam Bankman-Fried has resigned as CEO and has been replaced by John J. Ray III. At the same time, the exchange has filed for bankruptcy protection in the United States, which triggered a cascade of events that affected multiple companies and the entire cryptocurrency market.

In connection to the FTX debacle, Matrixport revealed on Twitter on 11 November 2022 that 79 users reported losses from products such as BTC Fixed Income Products and Victoria BTC Fund. However, company officials wanted to emphasise that the firm’s products are subject to strict segregation from one another. This means that a single impacted product would not affect the other products as the underlying asset and fund flow are segregated.

The company’s sales and operations team has reached out to each of the 79 affected clients and updated them on the current situation and proposed measures. .