Across Protocol Raises $41M in Token Round Led by Paradigm

Across Protocol, a cross-chain bridge, has successfully raised $41 million in a token round financing, with Paradigm leading the investment. The funding round also saw participation from notable investors such as Bain Capital Crypto, Coinbase Ventures, Multicoin Capital, and angel investor Sina Habinian.

Hart Lambur, co-founder of Risk Labs, the foundation supporting Across and UMA protocols, revealed that the funding was raised in two stages, one in the second quarter and another in the fourth quarter of 2024. Lambur confirmed that Risk Labs sold ACX tokens to investors in this round, but he declined to disclose the specific sale price or valuation. Regarding the investors' unlock schedule, Lambur pointed to a recent Across announcement, which indicated that the strategic financing round includes multiple one-year lock-up periods extending until November 2025.