Share this article
Bitcoin Staking Project Babylon Raises $70M Led by Paradigm
The funding round included contributions from Polychain Capital and the venture arm of crypto exchange and CoinDesk parent company Bullish
Updated May 30, 2024, 1:56 p.m. Published May 30, 2024, 1:54 p.m.
- Babylon offers bitcoin as a staking asset, allowing proof-of-stake chains to acquire funding from the deep reserves stored in BTC.
- The latest funding round follows an $18 million raise in December.
Bitcoin project Babylon has raised $70 million in funding to advance its plans to build staking on the world's largest blockchain.
The funding round was led by Paradigm and included contributions from Polychain Capital and the venture arm of crypto exchange Bullish (also CoinDesk's parent company).
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Babylon offers bitcoin as a staking asset, allowing proof-of-stake chains to acquire funding from the deep reserves stored in BTC.
The aim of the project is to enhance the utility of the billions of dollars worth of bitcoin otherwise sitting idle in user's wallets through providing them with yield.
The latest funding round follows an $18 million raise in December.
Read More: Bitcoin Will Power the Next DeFi Summer
Mais para você
O que saber:
- 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.
Mais para você
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
O que saber:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
