Shiba Inu Fetches $12M Investment in a Token Sale to Build Privacy-Focused Blockchain

Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.

The list of investors participating in the round are Comma 3 Ventures, Big Brain Holdings, Cypher Capital, Shima Capital, Hercules Ventures, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures, Polygon Ventures, Stake Capital, Illuminati Digital Capital, Primal Capital, Mechanism Capital and Spirit Dao, who all purchased the new network's upcoming utility and governance token TREAT.

The deal was completed by Shiba Inu Mint S.A., an ecosystem development firm incorporated in Panama, the press release added. The fundraising came after CoinDesk reported in February that Shiba Inu developers are working with cryptography company Zama on a privacy-focused new network on top ofShiba Inu Adopts Tech to Bring More Privacy to SHIB Token Holdersin a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.

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