Bitdao raises $230 million in private equity from investors

While the decentralized finance movement has proven its resilience and resilience, Bitdao, one of the world's largest decentralized autonomous organizations, has closed a special fundraising round to encourage mass adoption of open finance. DAO to Allocate Capital to Increase Defi's R&D, Financing and Liquidity As decentralized finance (defi) slowly regained its footing after the decline in overall value in May, there is no shortage of investment capital to meet the idea's huge potential. runs after him. Bitdao, a decentralized autonomous organization focused on Defi, was launched after the successful completion of a $230 million private funding round. The private equity raise included the participation of more than 20 institutions and defiance partners, including hedge fund manager Alan Howard, renowned entrepreneur Peter Thiel, Dragonfly Capital, Fenbushi, Founders Fund, Jump Capital, Pantera Capital and Spartan Group, among others. Bitdao's multi-chain design aims to eliminate existing centralized pegged tokens with censorship and counterparty risks with a fast and affordable decentralized solution to solve the ongoing output problems of the Bitcoin network and the high transaction costs of Ethereum. The organization's native BDAO governance and defi token are tied to bitcoin's value, with plans to introduce other pins for coins like ethereum in the future. New capital will be allocated to several business areas, including research and development, financing and liquidity operations. Attracting developer talent is one of the main goals of this initiative, and capital will also be distributed in the form of grants and token swaps to support blockchain technologies. Additionally, contributions to the Bitdao treasury will be used to support partners, add liquidity and launch new protocols on decentralized exchange platforms (dex), loans and synthetic resources. In addition to this funding, Bybit, one of Bitdao's ardent supporters, made a promise:

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