Blast

Kevin

Million

Standard

Read

<div class="cryptonews">
 <p class="is-style-lead">Japanese firm CGV <a rel="noopener noreferrer nofollow" title="invests" href="https://thebittimes.com/tag/invests.html">invests</a> $5 million in the newly launched Layer 2 solution Blast <a rel="noopener noreferrer nofollow" title="network" href="https://thebittimes.com/tag/network.html">network</a>.</p>
 <p>The Japanese cryptocurrency investment firm CGV announced it has invested $5 million in the Blast <a rel="noopener noreferrer nofollow" title="network" href="https://thebittimes.com/tag/network.html">network</a>. This investment is part of a collaborative effort to further the development of this Layer 2 solution.</p>
 <p>Blast has garnered significant attention in the venture capital world, with heavyweights like Paradigm, Standard Crypto and Mechanism Capital investing a collective $20 million. The project is spearheaded by Pacman, the founder of Blur, and boasts a team with impressive credentials from MakerDAO, MIT, Yale University and Seoul National University.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">Blast has reached $570 Million in TVL within 1 week.<br><br>63,948 community members are now earning yield (~4% for ETH and 5% for stables) + Blast Points.<br><br>There's been incredible inbound developer interest since launch. We'll share more for devs soon as we march towards Mainnet! pic.twitter.com/F715z8mpDa</p>— Blast (@Blast_L2) November 27, 2023
   </blockquote>
  </div>
 </figure>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Bitcoin ETF desire narrows Grayscale GBTC discount to 8%
 </div>
 <p>Since its launch on Nov. 21st, Blast has rapidly gained traction in the crypto space. Within just 48 hours of its launch, it achieved a Total Value Locked (TVL) of $570 million and has attracted over 50,000 users. On its debut week, Blast saw a massive inflow of $310 million.&nbsp;</p>
 <p>The founder of CGV is bullish about Blast’s prospects, highlighting the ecosystem’s Ethereum Virtual Machine (EVM) compatibility and the extensive support resources available for developers. CGV’s Asia Partner, Kevin Ren, notes that Blast sets itself apart in the Layer 2 landscape by being the only Ethereum L2 offering native earnings in ETH and stablecoins.&nbsp;</p>
 <p>The $5 million investment from CGV is earmarked for developing and investing in pioneering projects within the Blast <a rel="noopener noreferrer nofollow" title="network" href="https://thebittimes.com/tag/network.html">network</a>, covering a range of areas including crypto asset protocols, defi, NFTs, Real-World Assets (RWA), GameFi and more.&nbsp;</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Changpeng Zhao’s UAE return halted by federal court before sentencing
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/japanese-firm-cgv-invests-5m-in-blast-network-tbt71816.html">https://thebittimes.com/japanese-firm-cgv-invests-5m-in-blast-network-tbt71816.html</a></p>

Japanese firm CGV invests $5m in Blast network

TheBitTimes

Other articles published on Nov 27, 2023

Robert Kiyosaki’s Urgent Call: Embrace Gold, Silver, and Bitcoin in a Shifting Financial Landscape

Ripple Technical Analysis: Important Levels to Watch

Terra Classic Community Efforts Fuel Bullish Rise for LUNC and USTC

Binance's New CEO Meets Khabib and Ronaldo: Partnership Hint?

XRP Lawyer John Deaton Reprimands Jay Clayton, Bill Hinman, Gary Gensler

Bitcoin Exchange Coinbase CEO Believes Developments at Binance Will Turn a New Page

Join our free newsletter for daily crypto updates!