Dharma Labs to Raise $7M in a Financial Round

Dharma Level, product for issuing digital assets backed loans, is in the final stage of testing
06 February 2019   558

Dharma Labs startup, which is developing a decentralized lending platform for cryptocurrency traders and investors, raised $ 7 million in a round of financing, which was led by Green Visor Capital, CoinDesk reported.

The company was also supported by Coinbase Ventures, Polychain Capital, Y Combinator and Passport Capital.

The first product of a startup, Dharma Level, is in the final stage of alpha testing. Its stated goal is to simplify and cheapen the process of obtaining a loan secured by digital assets.

At the same time, Dharma Level operates with smart contracts, so loans are issued without the need for trust between the parties.

Representatives of a startup argue that their product offers more favorable conditions for margin trading in cryptocurrencies than Bitcoin exchanges. Moreover, traders will not need to use third-party extensions, since the Dharma Level interacts directly with the wallet.

Attracted investments, added to the company, will be used to expand the development team.

Coinbase Revenues to Reach $520M in 2018, Media Says

Additionally, Coinbase UK's revenues grew by 20% last year
18 April 2019   232

The leading US cryptocurrency company, Coinbase, earned about $ 520 million in 2018, and its British subsidiary revenues grew by 20% last year. This is reported by the Reuters.

Despite the collapse of the market, against which many companies were experiencing serious financial difficulties, Coinbase's UK revenue totaled more than 153 million euros ($ 172 million). These data the company filed in the register of legal entities in the UK.

Coinsbase UK executive director Zeeshan Feroz said that his division accounts for almost a third of the company's revenues. Thus, it can be calculated that the total revenue of Coinbase was more than half a billion dollars. At the same time, representatives of the exchange refused to comment on this information.

In addition, according to a PitchBook study, the activity of venture investors has increased dramatically in the cryptocurrency industry. This year they have already invested about $ 850 million.