Share this article
BitDAO Raises $230M for Decentralized Crypto Investment Fund
It plans to use the funds to support blockchain projects through token swaps.
Updated May 9, 2023, 3:20 a.m. Published Jun 16, 2021, 4:39 p.m.
BitDAO raised $230 million to invest in crypto projects through a private token sale. The fundraising round was led by Peter Thiel, Founders Fund, Pantera Capital and Dragonfly Capital, the company said in a statement. Other participants included Alan Howard, Jump Capital and Spartan Group.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Bybit, the Asian cryptocurrency exchange, pledged a share of futures contracts trading volume that could amount to more than $1 billion a year at the January-May 2021 run rate.
BitDAO token holders get to vote on which projects to invest in. Investment will take place through token swaps, with BitDAO dispersing ether and USDT in exchange for tokens issued by the project. The company plans to allocate significant financial and talent resources to drive the growth of decentralized finance (DeFi).
“We believe BitDAO is going to be one of the most exciting projects in DeFi,” Dragonfly Managing Partner Haseeb Qureshi said in an email to CoinDesk.
The company said the BitDAO treasury is on track to become one of the largest pools of assets controlled by a DAO.
More For You
알아야 할 것:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Michael Saylor's Strategy Hangs on to Spot in Nasdaq 100 Index
The annual Nasdaq 100 rebalance saw six companies dropped and three new additions, with changes taking effect on December 22, but bitcoin treasury company Strategy hung onto its spot.
What to know:
- Strategy (MSTR) will remain in the Nasdaq 100 index despite a major reshuffle, which saw several household names dropped.
- The firm's business model, which involves stockpiling bitcoin, has drawn criticism from analysts and index providers, with MSCI considering excluding crypto treasury companies from its benchmarks.
- The Nasdaq 100 rebalance saw six companies dropped and three new additions, with changes taking effect on December 22, but Strategy's bitcoin-heavy strategy secured its spot.
Top Stories
