According to The Block, cryptocurrency exchange WOO announced that it has raised $ 9 million.
Accordingly, crypto exchange WOO X received $ 9 million investment from market maker investors, including Wintermute.
The investment round was led by Wintermute, with the participation of Selini Capital, Time Research, Presto Labs, Pulsar, AlphaLab Capital, Efficient Frontier, Amber and Riverside Hedge.
Jack Tan, co-founder of WOO, said in his statement that the funds will be used primarily to expand the global market, develop the product line and obtain regulatory licenses in key markets.
“We are excited to share the expanded engagement of market makers at WOO X following the launch of our DMM program in August last year.
“We expect liquidity on WOO
Jack Tan Tan stated that the main purpose of the financing round was to “align the interests of liquidity providers” rather than to raise capital, as this round involved the participation of market makers who promised to increase liquidity on WOO X.
Following this news, Woo's native token WOO started to rise and rose to $0.444 in a short time, but WOO could not maintain its gains and later fell back to $0.427.
*This is not investment advice.
