An Investment Of $ 61 million To Chia Network

Chia Network the programmable currency platform founded by BitTorrent founder Bram Cohen received a $ 61 million in a funding round.

An investment of $ 61 million has been made to Chia Network Chia Network, the programmable currency platform founded by BitTorrent founder Bram Cohen, received an investment of $ 61 million in a funding round. According to the information provided by Bloomberg, two venture capital giants, Richmond Global Ventures and Andreessen Horowitz (a16z), were registered as the top investing companies. With this investment, Chia's market value doubled the previous investment and rose to $ 500 million. Cohen has long voiced that he wanted to publicize his company. It is stated that the company, which wants to expand its staff more with the said investment, wants to provide a payment method for financial services companies, governments and other institutions. David Frazee, one of the directors of Richmond Global Ventures, who has invested in Chia Network individually, will also be a board member of Chia. Known for its investments in startup companies, Andreessen Horowitz (a16z) first invested in Chia in 2018.