News: Executives including co-founders of the crypto payment company MoonPay cashed out $150 million during funding

2023-05-31 08:34:02

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ChainCatcher news, according to sources from The Information, internal team members including MoonPay co-founder and CEO Ivan Soto-Wright cashed out $150 million during the Series A funding round in November 2021.

During the Series A funding round in 2021, MoonPay raised $555 million at a valuation of $3.4 billion, with investors including Tiger Global and Coatue participating. The significance of this deal goes far beyond what is visible on the surface. Part of the funds was used to purchase shares from existing shareholders, such as Ivan Soto-Wright.

The source stated that MoonPay raised $405 million by selling shares to investors, with the remaining $150 million representing shares cashed out by internal personnel in secondary transactions. A few weeks after the Series A funding, Ivan Soto-Wright purchased a $38 million mansion in Miami. (source link)

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