Solana launches $20m fund to advance ecosystem in Korea

CoinDesk Analysis Team CoinDesk

The launch comes only weeks after Solana drew $60 million in funding for projects in Brazil, Russia, India and Ukraine.

Solana Foundation launched a $20 million fund to further the ecosystem’s expansion in South Korea with blockchain fund ROK Capital.

ROK Capital hopes to spur Solana-based infrastructure projects in Web 3 and decentralized finance (DeFI), it said Thursday.
The fund is also backed by blockchain consulting firm FactBlock and Korean accelerator DeSpread.
“Solana is one of the fastest-growing networks in the industry, and in addition to injecting capital, this new fund will provide tailored services for projects to successfully accelerate in Korea,” ROK Capital General Partner Brian Kang said.
The fund's launch follows only weeks after Solana drew $60 million in funding from Hacken, Gate.io and others to support projects in Brazil, Russia, India and Ukraine.

Author

CoinDesk Analysis Team

CoinDesk

CoinDesk is the media platform for the next generation of investors exploring how cryptocurrencies and digital assets are contributing to the evolution of the global financial system.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

Legal Text

Markets move fast. We move first.

Editor's Picks