CryptoMediaClub
Thursday, August 28, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Blockchain

Blockchain developers launch $50M fund to increase Wormhole adoption

19.05.2023
A A
0
129
VIEWS
ShareShare

A $50 million fund has been launched to help startups that use the Wormhole cross-chain messaging protocol, according to a May 18 announcement. The new fund is being managed by venture capital fund Borderless Capital and is backed by over 20 other blockchain development teams and venture capital firms, including Circle, Polygon Ventures, Solana Foundation, Jump Crypto and others.

It's time to make building in crypto more accessible than ever before.
Introducing the $50m Cross-Chain Ecosystem Fund, powered by Wormhole! pic.twitter.com/y3VeCsUrSa

— Wormhole (@wormholecrypto) May 18, 2023

The fund will help startups that are “innovating cutting-edge apps, infrastructure, or tools that span multiple ecosystems,” according to its application page on the Wormhole website, which also describes the fund as “anti-maxi,” or promoting the idea that more than one blockchain is needed to solve users’ problems.

David Garcia, CEO and managing partner of Borderless Capital, stated that he thought the new fund would help to grow the Web3 economy and allow applications to attract new users:

“Our goal is to empower builders to transcend the limitations of individual ecosystems, paving the way for blockchain applications and protocols to realize their full potential."

Wormhole is a cross-chain messaging protocol. It allows different blockchain networks to communicate with each other and is often used to bridge assets from one network to another. For example, if users wanted to transfer Ether (ETH) from the Ethereum network to the Solana network, they could do so using Wormhole. It is connected to over 20 different networks, the announcement said.

Other cross-chain messaging protocols include LayerZero, Celer, deBridge and many others.

Related: Uniswap debate between bridging protocols lays bare security concerns

Wormhole has expanded its network of partners in the past few months. In January, crypto exchange Uniswap chose it as the official bridging protocol for its cross-chain governance between Ethereum and BNB Network. And on April 26, Wormhole integrated with Circle’s Cross-Chain Transfer Protocol to allow for simpler transfers of USD Coin (USDC) from Ethereum to Avalanche.

However, Wormhole has also met with controversy over its security in the past. Its Solana bridge was hacked in February 2022, leading to $321 million in losses. Developers later patched the faulty code that had led to the exploit and reimbursed all users.

Magazine: Should crypto projects ever negotiate with hackers? Probably

Share10Tweet6ShareSharePin2

Related Posts

Ondo Finance Unleashes Revolutionary Tokenized US Treasuries on Sei
Blockchain

Ondo Finance Unleashes Revolutionary Tokenized US Treasuries on Sei

18.07.2025
0

Skip to content

Read moreDetails
Hashed stablecoin: South Korea’s Crypto Giant Unveils Bold Trademark Play

Hashed stablecoin: South Korea’s Crypto Giant Unveils Bold Trademark Play

17.07.2025
LA Token’s Strategic Move: Lagrange Foundation Considers Crucial Buyback for Price Stability

LA Token’s Strategic Move: Lagrange Foundation Considers Crucial Buyback for Price Stability

14.07.2025
Shocking Loss: Crypto Influencer Accidentally Burns $75K in PUMP Token

Shocking Loss: Crypto Influencer Accidentally Burns $75K in PUMP Token

14.07.2025
Dubai’s Historic Approval: Qatar National Bank Launches Revolutionary Tokenized Money Market Fund in DIFC

Dubai’s Historic Approval: Qatar National Bank Launches Revolutionary Tokenized Money Market Fund in DIFC

08.07.2025
Load More
Next Post
Australian ‘Big 4’ bank begins trial for cryptocurrency payment blocks

Australian ‘Big 4’ bank begins trial for cryptocurrency payment blocks

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Fashion House Dior Introduces New Sneakers With Digital Counterpart

Fashion House Dior Introduces New Sneakers With Digital Counterpart

2 years ago
Kazakhstan collected $7M in crypto mining taxes in 2022

Kazakhstan collected $7M in crypto mining taxes in 2022

2 years ago
$2 Billion Floods Into PEPE – Could a $1 Whale-Driven Pump Be Closer Than You Think?

$2 Billion Floods Into PEPE – Could a $1 Whale-Driven Pump Be Closer Than You Think?

11 months ago
Monero rebounds with 23% gain, marking recovery from news of Binance delisting

Monero rebounds with 23% gain, marking recovery from news of Binance delisting

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

APT Miner Launches Cloud Mining App, Supports Multiple Cryptocurrencies and Green Energy

Mastercard Launches Stablecoin Settlements in EEMEA

The 2nd Edition of the CoinFerenceX Decentralized Web3 Summit: Builders, Investors, and Developers Meet Again to Shape The Web Space

Google Cloud Launches DLT Platform to Modernize Global Capital Markets

The Sandbox Founders Exit as Animoca Assumes Full Control in Major Overhaul

CFTC Adopts Nasdaq Tool to Hunt Insider Trading in Crypto

Trending

Google’s Gemini AI Predicts the Price of XRP, Solana, and Cronos by the End of 2025
All news

Google’s Gemini AI Predicts the Price of XRP, Solana, and Cronos by the End of 2025

28.08.2025
0

The market’s been shaky lately with a lot of bearish chatter, but Gemini AI (Google’s latest model)...

Solana DeFi TVL nears all-time high at $11.7B but daily fees remain stuck under $2 million

Solana DeFi TVL nears all-time high at $11.7B but daily fees remain stuck under $2 million

28.08.2025
Pepe Price Prediction: No Buyers, No Volume – Is This Meme Coin About to Fade Into Oblivion?

Pepe Price Prediction: No Buyers, No Volume – Is This Meme Coin About to Fade Into Oblivion?

28.08.2025
APT Miner Launches Cloud Mining App, Supports Multiple Cryptocurrencies and Green Energy

APT Miner Launches Cloud Mining App, Supports Multiple Cryptocurrencies and Green Energy

28.08.2025
Mastercard Launches Stablecoin Settlements in EEMEA

Mastercard Launches Stablecoin Settlements in EEMEA

28.08.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz