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Bitcoin Startup Circle Seeking $40 Million in New Funding, Report Says
Circle Internet Financial is looking to raise as much as $40m as part of its latest funding round, according to a new report.
By Stan Higgins
Updated Sep 11, 2021, 11:39 a.m. Published Apr 27, 2015, 4:25 p.m.
Bitcoin brokerage Circle Internet Financial is said to be raising as much as $40m in new funding.
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by Fortune, Circle is raising the funds at a valuation of $200m, citing persons with knowledge of the negotiations. A representative for Circle declined to comment.
The move, if confirmed, would represent Circle's largest funding effort to date. Circle raised $17m in a Series B round last year, following an earlier $9m in Series A funding from 2013.
The funding would raise Circle's total investment to $66m.
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Bank of Japan Set to Hike Rates to 30-Year High, Posing Another Threat to Bitcoin
Rising Japanese rates and a stronger yen threaten carry trades and could pressure crypto markets despite easing U.S. policy.
What to know:
- According to the Nikkei, the Bank of Japan (BoJ) is set to increase interest rates to 75bps, the highest level in 30 years.
- Rising Japanese funding costs, alongside falling U.S rates, could force leveraged funds to reduce carry trade exposure, increasing downside risk for bitcoin.
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