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Young DeFi Founder Secures $68 Million for Lighter Protocol Development

Crypto trading protocol Lighter achieved a $1.5 billion valuation after a $68 million raise led by Founders Fund and Ribbit Capital, with participation from Haun Ventures and Robinhood.

Summary

Crypto trading protocol Lighter completed a $68 million funding round led by Founders Fund and Ribbit Capital, joined by Haun Ventures and Robinhood. According to Fortune, the investment valued the company at $1.5 billion. Founded by a 20-year-old Harvard graduate, Lighter aims to advance its blockchain-based trading infrastructure.

Terms & Concepts
  • DeFi: Short for decentralized finance, a blockchain-based financial system that operates without traditional intermediaries like banks.
  • Crypto Trading Protocol: A set of blockchain-based rules and infrastructure that enables cryptocurrency buying, selling, or swapping.
  • Lighter Protocol: A cryptocurrency trading platform currently under development, which recently raised $68 million in funding.