Search results for Dragonfly Capital
Crypto
Variational, Arbitrum-based derivatives startup, raises $50 million
Variational, an Arbitrum-based derivatives startup, has raised $50 million in a Series A round led by Dragonfly Capital. Bain Capital Crypto and Coinbase Ventures also participated, The Block reported. Co-founded by Lucas Schuermann and Edward Yu, the company focuses on bringing traditional finance dealer and exchange liquidity to on-chain trading and plans to offer a range of derivatives, including physical commodities. It plans to list more than 100 traditional finance products on-chain this summer.
Crypto
AI trading bots in crypto draw buzz, but experts urge caution
AI trading bots are emerging as a new trend in the cryptocurrency market, with claims spreading that automated bots using Anthropic\'s Claude generated millions of dollars in profits. Major AI companies do not officially support such use. Experts say the boom is exaggerated and point to structural limits. They cite legal liability risks, the ability of institutions to copy strategies at scale, and limited differentiation among similar models.
Crypto
MegaETH mainnet to launch on Feb. 9, hit 35,000 TPS in tests
Ethereum layer-2 solution MegaETH will launch its mainnet on Feb. 9. Cointelegraph reported on Jan. 29 that MegaETH processed 35,000 transactions per second in a seven-day global stress test and recorded 1.07 billion transactions. During the test, it opened the mainnet to some users and checked performance as developers pushed the chain to its limits from the backend. MegaETH has support from Vitalik Buterin and Joe Lubin and has received investment from crypto venture capital firms including Dragonfly Capital and Figment Capital. It raised $500 million in a pre-deposit sale last November but later returned the funds due to technical and operational problems.
