dYdX, a decentralized cryptocurrency exchange, has announced it raised $65 million in a Series C round led by Paradigm.
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According to an announcement, other investors, including QCP Capital, Electric Capital, and CMT Digital also joined the funding round. With the latest funding round, the exchange plans to maintain a long-term focus and significantly improve its liquidity.
"We are one step closer to delivering on our vision to become one of the largest cryptocurrency exchanges by offering trustless and decentralized financial infrastructure for advanced crypto-financial products," the exchange said.
dYdX's latest round comes after the exchange raised $10 million in a Series B investing round. The investment round was led by Three Arrows Capital and DeFiance Capital. Back then, the exchange said that the raised capital would help it to decentralize parts of its stack and "hand over more control" to its users.
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