5:32:08 PM PDT - Sunday, October 2nd, 2022

Arjun Sethi’s crypto derivatives protocol Nibiru raises maiden funding at $100M valuation  

By Editor - Fri Sep 23, 7:22 am

Nibiru, a new crypto derivatives protocol co-founded by Tribe Capital GP Arjun Sethi, has raised $7.5 million seed funding at a valuation of $100 million, two sources familiar with the matter told TechCrunch. Tribe Capital, Republic Crypto and Kraken invested in the seed round, a source said, requesting anonymity as the information is not public. Sethi co-founded the startups with four industry veterans – including Sankha Banerjee, formerly with Credence Capital and Binance; and Boris Revsin, who co-founded Republic Capital. Nibiru has attracted nearly two dozen contributors from firms including Meta, Reddit, JP Morgan and Yahoo, an investor deck obtained by TechCrunch showed. The crypto market is flooded with centralized (Binance, FTX) and decentralized ETH-based perpetuals and options trading platforms (Dydx, Opyn, Perpetual Protocol)

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Arjun Sethi’s crypto derivatives protocol Nibiru raises maiden funding at $100M valuation

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