DeBank Scores $25M Equity Funding Round Led By Sequoia China
2 d ago•1 min read•Regulation
DeBank – a crypto wallet for tracking decentralized finance applications – recently closed a multi-million dollar funding round led by fintech venture capitalist firm Sequoia China. This brings the defi wallet’s valuation to over $200 million.
At the moment, DeBank gives access to 798 Defi protocols across various popular chains including Ethereum, Binance Smart Chain (BSC), Avalanche, Polygon, and others. It was co-founded by a Shanghai-based research and development expert Tang Hongbo. Defi may see especially strong popularity in China, where cryptocurrency mining and trading has been outright banned. Enforcement action against certain defi protocols may prove far more difficult, or even impossible for the government to crack down on, as opposed to centralized alternatives.