Y Combinator Backs Crypto Derivatives Exchange GlobeDX

Cryptocurrency derivatives exchange GlobeDX announced raising $18 million in new funding round.

Leading VCs Plow Into GlobeDX

The funding round saw participation from some of the most prominent venture capital funds globally, including Y Combinator, Pantera Capital, and Draper Dragon. Other investors included Republic Crypto, OKEx, CMT Digital, and Wave Financial. 



With backing from some of the leading VCs, GlobeDX would compete with leading platforms that facilitate trading in cryptocurrency derivatives, including FTX, Huobi, OKEx, Binance, Bybit, and Bitmex.

The platform currently allows the trading of options and perpetual futures contracts in Bitcoin, Ethereum, and various DeFi tokens with up to 100x leverage.



For liquidity, the platform leverages its many partner exchanges, including MXC and Hotbit.

“We’re working closely with our investors and strategic partners to bring innovative products for our traders on Globe. Trading DeFi Perpetuals on an exchange built by trad-fi veterans will be a whole new experience for crypto traders,” said GlobeDX CEO James West.

The exchange has planned a public sale of its native asset, the Globe Token (GDT), on Apr. 30. With a total supply of 400 million, the token would be used in receiving trading fee discounts and collateral for margin trading.


The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

Source: Read Full Article