NYDIG Raises $ 1 Billion in Next Round of Funding

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The New York Digital Investments Group (NYDIG) raised $ 1 billion in another round of funding, after which the firm’s capitalization reached $ 7 billion.

WestCap became the leader of the round. Also involved in fundraising were Bessemer Venture Partners and FinTech Collective, which led the previous NYDIG funding round, as well as Affirm, FIS, Fiserv, MassMutual, Morgan Stanley and New York Life.

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NO reportedthat funds will be used to create Bitcoin-based solutions using smart contracts and Lightning. NYDIG founder and CEO Robert Gutmann said the company’s Bitcoin outlook has never been more impressive.

“Our roster of partners and strategic investors lays the foundation for NYDIG to become the leading provider of Bitcoin solutions for businesses in every industry. The new equity capital will further accelerate progress towards making this exciting network accessible and rewarding for all. ”

NYDIG is also using the funds to further expand its team by bringing in world-class talent. WestCap partner Scott Ganeles said the company led the funding round because of its belief in Bitcoin’s revolutionary power and trust in the NYDIG team, which continues to pursue opportunities.

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NYDIG has surpassed FTX in terms of raised funds, which raised a record $ 900 million in July this year. FTX CEO Sam Bankman-Fried recently announced that the exchange will offer investors to buy shares of its US subsidiary FTX.US for $ 1.5 billion

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