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Crypto
TRM Labs reaches $1 billion valuation after $70 million Series C round
Blockchain intelligence platform TRM Labs has completed a $70 million Series C funding round, reaching a $1 billion valuation, Cointelegraph reported on Feb. 4. Investors included Blockchain Capital, Goldman Sachs, Bessemer Venture Partners, Brevan Howard Digital, Citi Ventures and Galaxy Ventures. TRM Labs develops AI solutions for public and private institutions to respond to cybercrime, focusing on blocking automated illicit activity. It plans to use the funds to hire more researchers and specialists and enhance AI-led investigations.
Crypto
Bitcoin layer2 Citrea launches mainnet, also releases stablecoin
Zero-knowledge-based Bitcoin layer2 Citrea launched its mainnet on Jan. 28, it said. The launch allows users to access services using various on-chain assets on the Bitcoin network. Citrea said it will focus on implementing core technologies including Bitcoin-based collateral use and structured asset services. It also released the ctUSD stablecoin to support swaps in its ecosystem, backed 100 percent by short-term U.S. Treasuries and cash and issued with MoonPay.
Crypto
Barclays invests in stablecoin infrastructure startup Ubyx
Barclays has acquired a stake in U.S. stablecoin payments infrastructure startup Ubyx, The Block reported on Tuesday. The investment may be the first time a British bank has put capital directly into stablecoin technology. Barclays is focusing on building infrastructure and joining a consortium rather than issuing a stablecoin. The Block said Barclays plans to work with Ubyx on a regulator-supported “tokenised money” initiative, but did not disclose the investment size or valuation.