Lantern Finance Raises $1M for Decentralized Crypto Lending
1min read Cryptocurrency lending platform lantern Finance has successfully completed a $1 million pre-seed funding round, with participation from orange DAO. This investment marks a significant milestone for the company, which aims to provide a decentralized and secure platform for cryptocurrency lending and borrowing.
The funding round was led by Orange DAO, a decentralized autonomous organization focused on investing in and supporting innovative projects in the cryptocurrency space. Orange DAO's involvement highlights the growing interest and support for decentralized finance (DeFi) platforms, which enable users to lend and borrow cryptocurrencies without the need for intermediaries.
Lantern Finance's platform is designed to address the challenges faced by traditional lending and borrowing systems, such as high fees, slow processing times, and a lack of transparency. By leveraging blockchain technology and smart contracts, Lantern Finance aims to create a more efficient and accessible lending and borrowing ecosystem for cryptocurrency users.
The completion of the pre-seed funding round will enable Lantern Finance to further develop its platform, expand its user base, and explore strategic partnerships with other players in the cryptocurrency and DeFi spaces. The company's long-term goal is to become a leading provider of decentralized lending and borrowing services, empowering users to take control of their financial futures.
In other cryptocurrency news, Tether Treasury has minted 1 billion USDT on the Ethereum blockchain, indicating a growing demand for the stablecoin. Additionally, Tether and Circle have jointly frozen at least 5 Bybit hacker-related addresses, intercepting $760,000 in funds. This collaborative effort demonstrates the commitment of stablecoin issuers to combating illicit activities in the cryptocurrency space.
Meanwhile, a whale has withdrawn 2100 Bitcoin from Binance in the past 24 hours, approximately $180,170,000. This significant transaction highlights the continued interest and activity in the Bitcoin market, despite recent price fluctuations. In another notable development, a whale dumped 53.17 billion PEPE tokens hoarded since October last year, resulting in a $7.02 million loss. This transaction underscores the volatility and risk associated with investing in smaller, less established cryptocurrencies.