Tim Draper, Pantera Capital back new crypto derivatives exchange

Tim Draper, Pantera Capital back new crypto derivatives exchange

Some of the biggest names in blockchain have thrown their weight behind a new cryptocurrency derivatives exchange, signaling that the next bull market could be driven by institutional investors.

Crypto derivatives platform Globe has raised $3 million in seed investments to launch its Globe Derivative Exchange. The new platform is aimed at bringing institutional investors into the world of cryptocurrency. Early-stage investors in the new venture include billionaire Tim Draper, blockchain investment fund Pantera Capital and venture capital firm Y Combinator.

Pantera executive Paul Veradittakit cited growing institutional interest in crypto as one of the primary reasons why his company decided to invest in Globe.

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In a quote shared with Cointelegraph, Veradittakit said:

“We’re seeing a wave of interest in crypto assets from major banks, fintech companies, and portfolio managers. Globe has built the platform and products that these sophisticated market players need and expect (…) We’re excited to support the Globe team in delivering a next-generation platform for

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