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Uniswap Labs Raises $165M In Series B

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Today’s Cryptocurrency Headline

Uniswap Labs announced that it has completed a $165 million Series B financing at a valuation of $1.66 billion, led by Polychain Capital, and participated by Andreessen Horowitz, Paradigm, SV Angel, and Variant. The fund will provide at least $60 million in grants to community projects over the next several years. “As Uniswap Labs focuses on products, a much broader ecosystem continues to grow and thrive beyond what any one company can do on their own.” Hayden Adams, inventor of the Uniswap Protocol and CEO at Uniswap Labs, wrote in the announcement post.

BingX’s Bitcoin Chart

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According to the U.S. Bureau of Labor Statistics, the consumer price index rose 0.4% in September and was up 8.2% from a year ago, the core consumer price index accelerated 0.6% and 6.6%, respectively. The yearly gain for core was the highest since August 1982. Bitcoin is up 4.16% over the last 24 hours and rose to an intraday low of $19,956.57. The largest cryptocurrency dropped more than 3% after the hotter-than-expected CPI data was released, but the price recovered in the following hours, and eventually price rose more than 4% for BTC. The traditional equity market also responded similarly, all three U.S. indexes finished the day in positive territory. For now, the BTC/USDT pair is trading slightly above the 20-day exponential moving average (EMA)($19,510), and the bulls are attempting to push the price above the $20,000 price level.

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