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Cryptocurrency Exchange Secures $20 Million in Series B Funding Led by Kryptos

OrangeX’s Series B funding will drive global expansion and infrastructure enhancement following a successful Series A round in 2023.

Summary

OrangeX, a cryptocurrency exchange, has raised $20 million in a Series B funding round led by Kryptos, with support from SCI Ventures and other investors. This capital will be used to improve infrastructure and expand globally. The exchange had previously raised $10 million in Series A in 2023.

Terms & Concepts
  • Proof-of-Reserves: A system that allows users to verify that a cryptocurrency exchange holds sufficient reserves to back the assets of its users.
  • Series B Funding: A stage of funding for companies, typically used to scale operations, often coming after Series A and before Series C.