Unchained Attracts $60M

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Unchained, a company focused on Bitcoin, has raised $60 million in a Series B funding round led by Valor Equity Partners, with additional investments from NYDIG, Trammell Venture Partners, Ecliptic Capital and Highland Capital Partners.

This marks the firm’s total amount of funds raised, including the previous Series A round held last fall, at $115 million.

Founded in 2016 in Austin, Texas, the company provides retail and institutional customers with services such as custody, lending, and trading.

CEO Joseph Kelly has stated that even with decreasing loan demand and trading volumes, the FTX crash and other events have led to the acquisition of new customers.

With the capital raised, Unchained plans to introduce new products, including mobile applications.

Kelly has remarked:

“We believe that bitcoiners are born every minute – they just don’t know it yet. Remaining true to the first cryptocurrency and its technology, we look forward to an influx of both newbies and experienced supporters of Bitcoin. We are accelerating the future of hard money and non-custodial storage.”