Share this article
DeFi Project Impossible Finance Raises $7M in Seed Round
IF will use the funding to develop its DeFi offerings and to build a multi-chain ecosystem.
Updated Sep 14, 2021, 1:06 p.m. Published Jun 4, 2021, 3:23 a.m.
Make us preferred on Google
Decentralized finance (DeFi) protocol Impossible Finance (IF) has raised $7 million via a seed funding round with participation from a bevy of institutional and angel investors, including several high-profile firms, according to a blog post on Thursday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The seed round of Impossible Finance, which launched on Binance Smart Chain (BSC) last month, was led by notable investors including True Ventures, CMS Holdings, Alameda Research and Hashed.
- It will use the funding to flesh out its offerings and build a multi-chain ecosystem for "promoting growth of DeFi liquidity and composability."
- Among the other over 125 investors were Sino Global Capital, IOSG, Divergence, GBV, Coin98, Lemniscap, Primitive and Incuba.
- IF has the markings of a typical DeFi project, including the ability to stake on the network, token swaps and access to liquidity pools. Additionally, the project plans to become an incubator for other DeFi protocols.
- "Creating a YCombinator-esque platform for teams building in [DeFi] will help take the ideas of developers and materialize them into working products," said CMS Holdings in a statement included in the blog post.
See also: Lithium Raises $5M for Decentralized Oracle Tracking Private Assets
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Bitcoin slips below $88,000 ahead of Fed week and Big Tech earnings
Bitcoin and major tokens weakened Sunday as markets position ahead of the Federal Reserve’s next rate decision and a heavy slate of Magnificent Seven earnings.
What to know:
- Bitcoin fell below $88,000 in thin weekend trading, extending a weeklong pullback that has left most major cryptocurrencies sharply lower.
- Market sentiment remains fragile after more than $1 billion in leveraged crypto positions were liquidated amid recent volatility in currencies and bond markets.
- Traders are watching potential Japanese yen intervention, U.S. political brinkmanship over a spending bill and a heavy tech-earnings calendar, as the Federal Reserve is expected to keep interest rates unchanged.
Top Stories
