Crypto wallet and exchange company raises $120 million – TechCrunch

Crypto wallet and exchange company raises $120 million – TechCrunch has announced that it has raised a $120 million funding round. The company develops a popular cryptocurrency wallet as well as an exchange, an explorer and more.

Moore Strategic Ventures, Kyle Bass, Access Industries, Rovida Advisors, Lightspeed Venture Partners, GV, Lakestar, Eldridge and other unnamed investors participated in today’s funding round. Overall, the company has raised more than $190 million since its creation.

Originally named, the company started off as a blockchain explorer. An explorer lets you enter the hash of any transaction that occurs on the bitcoin blockchain to get more information about the amount, fees, number of confirmations as well as the wallet addresses of the sender and the receiver. Over time, explorers started adding support for more blockchains and more types of data. then built an open-source bitcoin wallet — it now supports more cryptocurrencies and stablecoins. The company’s wallet is a noncustodial wallet, which means that you’re in control of your private keys. Other noncustodial wallets include Coinbase Wallet, Argent, ZenGo, etc.

Many crypto users choose to buy bitcoins on an exchange and leave them on the exchange account. In that case, you don’t control the wallet as the exchange takes care of keeping your crypto assets safe for you. Custodial wallets include, Binance, Kraken, etc.

There are some advantages and disadvantages with each solution. If an exchange gets hacked or somebody gets your login information through phishing, your assets aren’t safe on a custodial wallet.