Cryptocurrency custodian Copper has raised a large sum of money from Barclays, which is seeking a stake in Sky News, one of the UK’s largest banks. report..
Copper is a unicorn worth about $ 2 billion and is advised by former British Finance Minister Sir Hammond.
According to the report, banks will work with new crops of investors participating in the latest round of copper funding. Barclays plans to invest millions of dollars worth of “moderate” amounts as part of its funding round, which will be completed within a few days.
Copper shrinks to $ 3 billion valuation target
Copper operates as an institutional investor, prime brokerage, and settlement company that meets the needs of key market entities seeking to invest in a variety of digital assets. The company was founded in 2018 and has since been able to win investment from major venture capital firms, including: LocalGlobe, Dawn Capital, and MMC Ventures.
According to a previous report, Copper evaluation $ 3 billion following the latest fundraiser. However, the bear market was totally plagued by the company, which required the company to reduce its financial targets.
It is appropriate to note that the company has I have not received it yet Regulatory green light from the Financial Conduct Authority (FCA) in the United Kingdom. Government agencies are now requiring all crypto service providers to obtain temporary registration to continue their day-to-day operations.
The controversial relationship between Barclays and cryptocurrencies
Barclays has repeatedly opposed the crypto industry and lenders blocking Clients from transactions with well-known cryptocurrency exchanges such as Binance and Coinbase.
In addition, Barclays Alliance In 2016, in collaboration with Circle, we released a payment application that allows users to convert Bitcoin to British pounds (or vice versa). 2018, bank release A new venture division aimed at researching fields such as distributed ledgers and smart contracts.
Market dynamics remain volatile
Despite the news above that Berkeley is investing heavily in copper, the overall sentiment surrounding the crypto market remains very fragile. For example, the cryptocurrency fear and greed index, which is a common indicator used to measure investor attitudes towards the market. Still lying In the “fear” zone.
Over the past month or so, the list of important cryptocurrency companies has grown, including: Three Arrows Capital (3AC), Celsius, Vauld, and Zipmex are facing bankruptcy-related issues, which significantly undermine their confidence in the industry.
