Ascendex 50m series polychain capital vc

ascendex 50m series polychain capital vc

About Hack VC

Hack VC is a private equity firm based in Incline Village, Nevada.

About Alameda Research

Alameda Research was founded in October 2017. We manage over USD 1 billion in digital assets and trade USD 1-10 billion per day across thousands of products: all major coins and altcoins, as well as their derivatives. We have a full-scale global operation with the ability to trade on all major exchanges and markets.

About Jump Capital

Jump Capital is a leading venture fund investing in Crypto and Fintech globally.

About Uncorrelated Ventures

Uncorrelated Ventures was founded by Salil Deshpande with Bain’s backing to focus on open source and infrastructure software, both traditional and decentralized.


These supporting services further differentiate AscendEX’s IEO process from other mainstream exchanges, and in turn, allow listings to achieve industry leading results.

“In an extremely competitive crypto exchange landscape, AscendEX has impressively emerged as the leading venue for innovative crypto projects in DeFi, GameFi and crypto infrastructure”, said Saurabh Sharma, Partner at Jump Capital. “AscendEX remains ahead of the curve by constantly innovating and offering unmet needs such as broad staking access and DeFi yield farming for retail investors.”

Alex Pack at Hack VC added, “The concept of extracting more value from the crypto held in your wallet has become immensely popular with decentralized lending and yield farming protocol – AscendEX has further expanded on this by cross-collateralizing their wallets with validator nodes, allowing users to trade while earning.


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Singapore-based crypto exchange AscendEX has raised $50 million in a Series B funding round led by Polychain Capital and investment firm Hack VC.

Other participants in the funding round include Alameda Research, Jump Capital, Uncorrelated Ventures, Eterna Capital, Acheron Trading, Nothing Research and Palm Drive Capital.

The platform team plans to use the funds to accelerate its entry into the international market and stimulate further product innovation.

AscendEX was originally created in 2018 under the name BitMax. The company underwent a rebranding in March 2021.

UAE-based crypto exchange BitOasis raised $30 million in October.

No other exchange is offering this degree of flexibility for users to earn and participate in blockchain governance while also trading on leverage.”

To learn more about AscendEX, please visit AscendEX.com.

About AscendEX AscendEX is a global cryptocurrency financial platform servicing more than one million institutional and retail traders with the resources needed to obtain more value from their crypto investments. Operating at the nexus of centralized finance and decentralized finance, AscendEX’s platform features access to futures and spot trading, a robust wallet infrastructure, and staking support for over 200 industry-leading blockchain projects, all producing industry leading yields and returns, further driving the growth of the crypto ecosystem.

George Cao, CEO and Co-founder of AscendEX. “Polychain Capital and Hack VC, as active catalysts of the DeFi ecosystem, have backed some of the industry’s most innovative blockchain networks, exchanges, and trading institutions. Similarly, Alameda Research, founded by Sam Bankman-Fried, has emerged as one of the most prolific investors in the industry, fueling growth within both CeFi and DeFi.Participation from Jump Capital, a seasoned Crypto and Fintech investor, further showcases the success of our deep roots in traditional finance, as AscendEX’s core team is proud of our extensive experience in Wall Street quant trading.”

AscendEX is well positioned at the nexus between centralized & decentralized financial sectors, as evidenced by its AscendEX Earnproducts, and cross-collateralized staking products that allow users to generate yield while trading on leverage.

About Hack VC

Hack VC is a private equity firm based in Incline Village, Nevada.

About Alameda Research

Alameda Research was founded in October 2017. We manage over $1 billion in digital assets and trade $1-10 billion per day across thousands of products: all major coins and altcoins, as well as their derivatives. We have a full-scale global operation with the ability to trade on all major exchanges and markets.

About Jump Capital

Jump Capital is a leading venture fund investing in Crypto and Fintech globally.

About Uncorrelated Ventures

Uncorrelated Ventures was founded by Salil Deshpande with Bain’s backing to focus on open source and infrastructure software, both traditional and decentralized.

These supporting services further differentiate AscendEX’s IEO process from other mainstream exchanges, and in turn, allow listings to achieve industry leading results.

“In an extremely competitive crypto exchange landscape, AscendEX has impressively emerged as the leading venue for innovative crypto projects in DeFi, GameFi and crypto infrastructure,” said Saurabh Sharma, Partner at Jump Capital. “AscendEX remains ahead of the curve by constantly innovating and offering unmet needs such as broad staking access and DeFi yield farming for retail investors.”

Alex Pack at Hack VC added, “The concept of extracting more value from the crypto held in your wallet has become immensely popular with decentralized lending and yield farming protocol – AscendEX has further expanded on this by cross-collateralizing their wallets with validator nodes, allowing users to trade while earning.

George Cao, CEO and Co-founder of AscendEX. “Polychain Capital and Hack VC, as active catalysts of the DeFi ecosystem, have backed some of the industry’s most innovative blockchain networks, exchanges, and trading institutions. Similarly, Alameda Research, founded by Sam Bankman-Fried, has emerged as one of the most prolific investors in the industry, fueling growth within both CeFi and DeFi.Participation from Jump Capital, a seasoned Crypto and Fintech investor, further showcases the success of our deep roots in traditional finance, as AscendEX’s core team is proud of our extensive experience in Wall Street quant trading.”

AscendEX is well positioned at the nexus between centralized & decentralized financial sectors, as evidenced by its AscendEX Earn products, and cross-collateralized staking products that allow users to generate yield while trading on leverage.

Additional Series B investors include Alameda Research, Jump Capital, Uncorrelated Ventures, Eterna Capital, Acheron Trading, Palm Drive Capital, and Nothing Research

Singapore — November 3, 2021 — AscendEX, a global cryptocurrency financial platform, has announced the close of a $50 million Series B raise led by Polychain Capitaland Hack VC, with participation from Jump CapitalandAlameda Research, as well as Uncorrelated Ventures,Eterna Capital, Acheron Trading,Nothing Research, and Palm Drive Capital. Imperii Partnersserved as an exclusive financial advisor to AscendEX in support of the Series B fundraise process.

AscendEX, launched under the name “BitMax” in July 2018, offers exchange, custody, and staking services to over one million retail and institutional clients globally.

SINGAPORE–(BUSINESS WIRE)–AscendEX, a global cryptocurrency financial platform, has announced the close of a $50 million Series B raise led by Polychain Capital and Hack VC, with participation from Jump Capital and Alameda Research, as well as Uncorrelated Ventures, Eterna Capital, Acheron Trading, Nothing Research, and Palm Drive Capital.Imperii Partners served as an exclusive financial advisor to AscendEX in support of the Series B fundraise process.

AscendEX, launched under the name “BitMax” in July 2018, offers exchange, custody, and staking services to over one million retail and institutional clients globally.

AscendEX as a customer and market maker, and we’re thrilled to keep expanding our relationship in new ways with this investment.”

“AscendEX is a leader in transitioning crypto projects from primary to secondary markets, as seen through the continued success of the tokens listed on the exchange,” said Olaf Carlson-Wee, Founder & CEO at Polychain Capital. “We look forward to deepening our collaboration with AscendEX by providing insights into evolving industry trends and providing guidance on top-tier projects to list on the exchange.”

AscendEX uniquely provides dedicated auxiliary support for blockchain projects seeking to list on the platform, including consultation on the token economic design, secondary market liquidity strategies, staking support, liquidity mining, as well as global marketing support and translation services.

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