Privy Secures $18 Million in Series A Funding Led by Paradigm

In Series A financing, Privy, a startup that assists brands in developing blockchain-based tools for their operations, acquired $18 million.

In addition to existing Privy investors Sequoia Capital, Blue Yard, and Archetype, the funding round was led by the crypto-focused investment firm Paradigm.

Angel investors Justin Waldron, Ben Leventhal, Dan Romero, James Prestwich, Tarun Chitra, Linda Xie, Patricio Worthalter, Cooper Turley, and others also contributed.

Matt Huang, managing partner and co-founder of Paradigm, has also been inducted into the board of directors of Privy. The funding will expand Privy’s developer library and support team members developing on-chain applications, the startup wrote on the social media platform X.

Recently, the next target of the U.S. Securities and Exchange Commission (SEC) in the cryptocurrency industry has once again been a popular topic of conversation on social media platforms.

StakeWithPride, an enthusiast of Cardano, revealed this morning in an X post that the SEC’s litigation against cryptocurrency exchange Kraken mentions Cardano (ADA) sixty or more times.

In a distinct X post, Tony Edward, the proprietor of the Thinking Crypto Podcast, addressed the SEC. Ripple (XRP) and Ethereum (ETH), as per his post, are two cryptocurrencies that were entirely omitted from the SEC litigation lodged against Kraken.

Despite this, a lengthy catalog of additional well-known tokens was provided. The following coins are included in this list: ADA, Axie Infinity (AXS), Algorand (ALGO), Cosmos (ATOM), Chiliz (CHZ), COTI, Dash (DASH), Internet Computer (ICP), Decentraland (MANA), Polygon (MATIC), Solana (SOL), Filecoin (FIL), and Flow (FLOW).

The mention of ADA as one of the cryptocurrencies most frequently in the SEC litigation against Kraken may have contributed to the token’s 0.97 percent decline in value on the final trading day.

At the time of writing, the altcoin was being exchanged for $0.384, having reached a 24-hour low of $0.3791.

However, intraday volume for ADA increased by more than 36%, reaching $405,253,987. However, the weekly performance of the Ethereum Killer remained firmly within positive territory, rising by +1.14 percent.

SOL and NEAR have experienced price declines exceeding 6% in the previous twenty-four hours. Consequently, SOL was valued at approximately $55.71, whereas NEAR fell to $1.92.

Despite this, the prices of both tokens remained elevated over a weekly time frame.

SOL experienced a marginal increase of 0.81% in value over the previous week. The recent pricing success of NEAR remained apparent, as evidenced by its price increase of over 18% over the last week.