ChainCatcher news, the asset trading platform Drift on the Solana chain has completed a $25 million Series B funding round, led by Multicoin Capital, with participation from Blockchain Capital, Primitive Ventures, and Folius Ventures.Cindy Leow, co-founder of Drift Labs, stated that her goal is to build a suite of financial service tools on top of Solana, including spot and derivatives trading as well as prediction markets, to make Drift "the Robinhood of cryptocurrency."According to RootData, Drift Protocol is an on-chain asset trading center based on Solana, offering services such as Perps and prediction markets.

ChainCatcher news, Kyle Samani, co-founder and managing partner of the cryptocurrency investment firm Multicoin Capital, tweeted that he will deliver a speech titled "Why SOL Will Flip ETH" on the main stage of the TOKEN 2049 conference (OKX Main Stage) today.

ChainCatcher news, according to CoinDesk, the internet infrastructure network Pipe Network, supported by crypto incentives, has completed a $10 million funding round led by Multicoin Capital.David Rhodus, CEO of the startup Permissionless Labs building Pipe Network, stated that in the vision, people can quickly scale CDN nodes in the most needed areas by borrowing existing computing power. Their computers will help end users access cached content, which may be difficult to deliver quickly due to distance from the hosting servers.Pipe Network will be built on the Solana network and plans to launch its testnet at the Breakpoint conference in Singapore.

ChainCatcher news, according to official sources, the Solana ecosystem edge computing open layer Gradient Network announced on the X platform that it has completed a new round of financing, with participation from Pantera Capital, Multicoin Capital, Sequoia Capital, among others. The specific financing amount and valuation data have not yet been disclosed.It is reported that the new funds will be used to promote its decentralized protocol and the development of computing power and staking solutions in the blockchain network.Gradient Network is an open layer for edge computing on Solana, aimed at making computing inclusive, accessible, and affordable for everyone.

ChianCatcher news, renewable energy company Fuse announced the completion of a $12 million strategic financing, led by Multicoin Capital, bringing the company's total funding to $90 million to date.According to the press release, the company plans to use the funds to launch Project Zero, a renewable energy DePIN project: "As a comprehensive energy company, Fuse provides distributed energy (DER) installation, electricity trading, and electricity retail. The company currently manages 18 megawatts of renewable energy projects, with another 300 megawatts of renewable energy projects in preparation. Fuse Energy, a subsidiary of Fuse, is a vertically integrated electricity retailer."

ChainCatcher news, Multicoin Capital co-founder Kyle Samani posted on X: "Since 2019-2020, we have been seriously analyzing DeFi derivatives, and we believe that Drift Protocol is the best protocol to seize this opportunity. We have led multiple rounds of private financing and have been buying in the public market since the launch of the DRIFT token in May."

ChainCatcher news, Multicoin Capital managing partner Kyle Samani recently elaborated on his views regarding the main challenges currently facing Ethereum in an interview. Samani pointed out that Ethereum faces two core issues: poor Layer 2 interoperability leading to a subpar user experience, and the outsourcing of the execution layer to Layer 2 resulting in value capture loss.He believes these two factors explain 80-90% of the reasons for ETH's recent poor performance.Samani questioned Ethereum's excessive pursuit of decentralization and the number of validators, while neglecting user needs and financial functionality. He is more optimistic about Solana's development path, believing it focuses more on building efficient financial infrastructure.Regarding the prospects of Layer 2 solutions addressing Ethereum's issues, Samani is skeptical, believing that it is difficult to reach a unified standard among various Layer 2s. Although he acknowledges Ethereum's advantages in regulatory status and talent pool, Samani believes the system design limits the realization of these advantages.

ChainCatcher news, according to official sources, the zero-knowledge proof authentication solution provider zkMe has announced the completion of a $4 million seed round investment, led by Multicoin Capital, with participation from OKX Ventures and Robot Ventures. The funds will be used to optimize the zkMe zero-knowledge identity protocol, which has been live for 13 months, and to develop the zero-knowledge identity layer infrastructure to build a more complete zkMe privacy identity layer network, expected to officially launch in Q4 2024.It is reported that zkMe is committed to providing decentralized compliance services that meet FATF standards through cryptography, offering comprehensive credential verification solutions for the Web3 industry to address the upcoming EU MiCA regulations. At the same time, zkMe also empowers users to have autonomous control over identity credentials and other rights, allowing users to maximize privacy protection and value creation through participation in verification.

ChainCatcher news, according to The Block, Crunch Lab has completed a $3.5 million seed round financing led by the crypto investment firm Multicoin Capital. This financing was also supported by Factor Capital, Fabric VC, and Elixir Capital, bringing the total funding for the startup to $5.3 million.Crunch Lab is a core contributor to CrunchDAO, a platform that provides AI researchers with the opportunity to participate in distributed machine learning competitions. Participants can not only receive other rewards but also earn CRNCH tokens through the competitions, which grant holders governance rights and other privileges within CrunchDAO.Jean Herelle, founder and CEO of Crunch Lab, stated that the company has entered the prototype development stage and is collaborating with two financial institutions to provide real-time data streams, which is expected to bring an additional $2 million in annual recurring revenue (ARR) to Crunch Lab this year.

ChainCatcher news, according to CoinDesk, Multicoin Capital has pledged up to $1 million in funding to support Senate candidates who back cryptocurrency.Multicoin plans to provide financial support to four Republican candidates by donating to the conservative super PAC "Sentinel Action Fund." The amount of Multicoin's donation will depend on the results of the Sentinel crypto fundraising campaign.According to Sentinel's website, Multicoin will match 100% of the (SOL) token donations sent to Sentinel before July 14. Gemini is hosting Sentinel's crypto donation portal and is accepting various tokens, including SOL.

ChainCatcher news, Multicoin Capital partner Kyle Samani recently posted on social media that he launched Multicoin Capital with a scale of 2 million dollars in 2017, and now the AUM exceeds 3 billion dollars.He stated: "The investor relations team has only 2 people. We do not proactively reach out to investors; we only accept projects that contact us. In 2019, we failed to raise the VF2 fund."