CandleFocus Solana-Based Drift Raises $25M Toward Goal of Becoming 'Robinhood of Crypto:' Report
2024-09-19
Author: Content Editor
Decentralized finance platform Drift has raised $25 million in a Series B funding round led by Multicoin Capital. The funding will be used to expand its Solana-based exchange and develop a range of financial services tools, including spot and derivatives trading and a predictions market. The company aims to become the "Robinhood of crypto" and plans to double its headcount to 50 within the next year. Drift differentiates itself from centralized exchanges by operating as a decentralized platform governed by a decentralized autonomous organization (DAO). Its associated token, DRIFT, has risen 2.1% in the last 24 hours to just above $0.71. Drift believes that Solana is the best venue for its platform due to its high activity, user base, and seamless integration.
Related News
Louisiana continues pro-crypto push with option to pay state agencies in Bitcoin, USDC Feds Arrest Alleged Crypto Crooks for Stealing $230 Million in Bitcoin The Safest and Most User-Friendly Custodial Wallets for 2024 How to Boost Your 'Hamster Kombat' Airdrop Before the Rewards Cutoff CFTC pushes appeals court to block election betting amid Kalshi dispute UN advisory body proposes new measures for AI governance Token2049 Highlights: Vitalik Buterin Sings Ethereum Song, Certik Announces Free Security Tools, and More U.S. Election Betting: CFTC, Kalshi Both Grilled by Judges in Appeals Court Solana Aims for $165 as On-Chain Metrics Signal Buy Opportunity DeFi Lender Sky Ratifies Plan to Offboard Wrapped Bitcoin, Due to Sun Concerns Bored Ape Game 'Dookey Dash: Unclogged' Launches With $1 Million in Prizes SoonVerse Partners with DeChat for Enhanced Web3 Security Layer-1 Zero-Knowledge Platform Leaps After Sudden Surprise Coinbase Listing Turkish Capital Markets Board Publishes New Regulations For Cryptocurrency Exchanges Lightspark Targets Latam Expansion with Bitcoin Lightning Network Integration for Faster, Cheaper Transactions Whale Dumps Entire PEPE, FLOKI, and WLD Holdings, What’s Next For These Assets? Solana Coins MEW & FIDA Prices Surge Over 25% On Major Listings Bitcoin rally above short-term holder metric has traders calling for new BTC price highs Dfinity, Cambodia agree on advancing smart city innovation Vitalik Buterin Linked Wallet Moves 1.3K Ethereum, Can ETH Hit $5k? US prosecutors oppose Mango Market exploiter's motion for acquittal Bitcoin Whale Dumps Over 1K BTC As Price Hits $63K, More Selloff Ahead? Judge dismisses Consensys lawsuit against SEC over MetaMask and Ethereum claims DOT Price Jumps 8% As Polkadot Reveals Major Update, Rally To Persist? Bitcoin Faces Key Test at $64K as Altcoins Lead Crypto Rally; Options Traders Bet on $70K BTC Next Month Stand With Crypto reports 121K have used voter registration since 2023 SEC's Controversial Term Is Catching Up with It, Ripple's Top Lawyer Says Ethereum (ETH) Targets $2,800 – Major Rally Imminent? Government Bitcoin Rankings: US Tops List, Bhutan and El Salvador Active Chainlink (LINK) Price Breaks $11 Post-Fed Rate Cut: What’s Next Bitcoin is up 6% since the Fed rate cut. What’s next? Germany closes 47 crypto exchanges over money laundering concerns The Fed cut upshot and FOMC future projections Internet Computer (ICP) Gains 4.96% as Analysts Predict Major Breakout WIF, PEPE, and SEI shine as cryptocurrencies surge BREAKING: End of an Era – Terraform Labs Approved For Bankruptcy After Settling With SEC Top Centralized Exchanges by Weekly Trading Volume: Binance & Crypto.com Lead Artificial Superintelligence Alliance (FET) gains 75% in a month — Here is why PlaySolana debuts first handheld console on SOL Harvard students launch 'New Bretton Woods Project' to fix debt crisis Kadena (KDA) targets $0.749 following launch of Binance’s USD-margined perpetual contract Robinhood Nets Jersey Sponsorship Deal with NBA Memphis Grizzlies Fetch AI Price Soars 12%, Poised for 128% Bullish Surge, Is ATH Soon? Does SBF’s Appeal Stand a Chance of Succeeding? Seattle Airport Hack Update: Hackers Demand $6M in Bitcoin for Stolen Files Telegram Coin Notcoin (NOT) Needs to Break This Level or Face Heavy Losses Only 42 Altcoins Have Outperformed Bitcoin Since the Beginning of the Year – Here is the List Custodia Says Fed Attempt to 'Crush' Crypto Bank Was Political Bitcoin options markets reduce risk hedges — Are new range highs in sight? Xandeum to unveil Solana scaling solution, XAND token Coinbase’s cbBTC surges to third-largest wrapped BTC token in just one week Has Altcoin Season Started With FED Heat? Legendary Analyst Answers RFK Jr. Comes Out Swinging Against Bitcoin Mining 'Myths' Analyst Jamie Coutts Says Crypto Market Could Be in the Final Throes of a Bearish Phase – Here’s Why How Much Will Bitcoin Price Be If Trump Wins, How Much If Harris Wins? Standard Chartered Announces Big Bull Forecast Crypto Investor Positions for Possible Altcoin Season with These 6 Tokens Bitcoin's Breakout to New Highs Could Be Near, Past Market Cycles Suggest Iggy Azalea Says She Wasn't Allowed to Twerk at Solana Breakpoint Because It ‘Would Go Too Viral’ Ripple Partner Tranglo Now Supports Brunei Banks for Faster Remittances Charles Hoskinson: Privacy and Identity Are the Last Mile for Trillions of Dollars in Crypto Adoption Ethereum is a 'contrarian bet' into 2025, says Bitwise exec Apple iPhone OS Violates EU Laws, What's Next for AI Coins? Ethereum (ETH) Price Prediction for September 19 TON Blockchain Surpasses 23.58 Million Transactions, Driven by Catizen’s $CATI Token MultiversX and Helios Staking Partner to Launch Helios Connect dApp for Unified Cross-Chain Identity FED Tailwind Pushed Bitcoin Above $63,000: So When Is The New ATH Coming? TravelSwap Hints at Cardano Integration, ADA Price Surges Banana Gun update: Under 10 users affected, bot secure Analysts predict Bitcoin volatility spike as market aligns like a 'coiled spring' Breakout Alert! Dogwifhat (WIF) Set to Skyrocket, Eyes on $2.3 Bitcoin (BTC) Price Prediction for September 19 190 Billion DOGS Coins Face Decisive Moment After Binance, Coinbase Listing Michael Saylor Makes 'Bitcoin Burger' Statement as BTC Rockets Over $63,000 XRP News: Ripple Partner SBI Confirms Participation in BIS Project Agora Neiro Ethereum Hits 50% Rebound, Eyes $0.17 No, Louisiana is not accepting crypto for tax payments Satoshi Nakamoto Wallet Address: How Much BTC Does Satoshi Have? PEPE Whale Generates $1.67M Revenue From Trading NEIRO: Here’s How Coinbase Unveils New Crypto Listings as Optimism Spikes on Market Celebrating 10 Years of the Hardware Wallet Revolution VanEck CEO Jan van Eck on U.S. Fiscal Concerns, Bitcoin, Gold, and U.S. Stock Market Vitalik Buterin Exits Ethereum Amid Price Pump, Again 'Uptober' Starts Early as Bitcoin Price Pump Smashes Short Positions Ethereum Price Analysis: Is $2.7K ETH’s Next Target After Gaining 6% Daily? Solana unveils new phone: Why it could revolutionize web3? Ripple CTO's Epic Take on XRP Smart Contracts Stuns Crypto Community 2,024% Spike in Shiba Inu Token Transaction Fees Shocks Shibarium SynFutures launches 2024 U.S. election perpetuals with 10x leverage Massive $500 Million Bitcoin Exit Leaves Top Exchanges Stunned Privado ID Merges with Disco—What This Means for Multichain Identity Solutions Binance CEO Says Exchange's Institutional Investors Grew 40% This Year Bitcoin set for rally after Federal Reserve rate cut, Standard Chartered says Fed Rate Cut Fuels Ethereum (ETH) Rally, Yet ETFs Face Outflows SUI Price Surges 14% in a Day; Analysts Eye New ATH of $2.60 Bitcoin extends gains after Fed cut interest rate Nimble Network Partners with Artela to Boost AI Capabilities 604 Billion Shiba Inu (SHIB) in 24 Hours, How Did SHIB Fall Off? High treason charge for Russian man who ‘sent crypto to Ukraine’ Coinbase’s Base smart contracts contain over 34k vulnerabilities, data shows Is the Fed signaling a market crash? Why the 50 bps rate cut feels like 2007 all over again Aptos (APT) Poised for 40% Upside Rally, Here’s Why Core Wants to Launch a Bitcoin Yield ETF in US Within Five Years, Says Exec Five Reasons why Telegram gaming could be 2025’s breakout success Tether Invests $1.5 Million in Sorted Wallet to Enhance Financial Inclusion Altcoins Are on the Rise After FED Decision! Whales Are Very Active in These 6 Altcoins! Binance Coin (BNB) Approaches $600, but Futures Traders Stay Skeptical Bybit backs Ethereum’s first Attackathon with 75 ETH commitment Over 75M Ordinal Inscriptions and $4.5B in Sales—Bitcoin Finds Its NFT Footing China's Anti-Crypto Policies Threaten to Ripple Through Its Gaming Market How the $1.4 billion crypto prediction market industry took off in 2024 - report Dogecoin Rebounds, with Bullish Signals Eyeing $0.15 Target 5 Crypto to Sell to Avoid Losses After Fed's 50 bps Interest Rate Cut First PiP World bought a Roblox stock simulator, now it's launching a Telegram-based game Bitcoin bulls target $64K BTC price hurdle as US stocks eye new record Police Arrests Two People Related to $243M Crypto Heist Targeting Genesis Creditor Altcoins Set for Big Moves: Top Analyst Predicts Major Volatility Ahead? CryptoQuant sees bitcoin short-term holder supply decline as barrier to price breakout Louisiana Isn't the Only US State to Accept Bitcoin Payments—Here Are the Others AI predicts Bitcoin price for October 1, 2024 Buterin Explores Plutocracy Risks in Token-Based Governance Samourai and Tornado Cash both pinning hopes on upcoming ruling Highlights from IOTA Demo Day: Exciting Innovations and Presentations on IOTA EVM Sei spikes 23% as Bitcoin breaks above $63k VeChain News: Why VeBetterDAO and the B3TR Token Could Revolutionize Sustainability SEC settlements are becoming the cost of doing crypto business Pepe Price Eyes 30% Surge as Bulls Flip Key Support Level US-listed crypto stocks jump after bumper rate cut from Fed FED's Latest Move Confuses Everyone! Which Way Will Bitcoin (BTC) Move? Rising smartphone penetration fuels GameFi’s growth on Telegram Inside OKX's Strategic Shifts to Its Regulatory Approach, Formula 1 Branding and App Design Polymarket users outperform economists in predicting US rate cuts Cardano (ADA) Moves Toward $0.47 as Short-Term Holders Stay Put Crypto Brands Revive Sports Sponsorships in 2024 With 26 New Deals Why Congressman Warren Davidson Believes the SEC Is Blocking Bitcoin’s Custody Future FTX Refunds and Pension Fund’s Crypto Interest Spark Market Optimism What is the Bitcoin CME gap? Indian crypto exchange WazirX struggles to recover funds 60 days after hack Shytoshi Kusama Again Mysteriously Appears in Public? His Tweet Suggests So RedStone integrates oracle price feeds into TON blockchain Worldcoin testing facial recognition for its World App Sui Network TVL Soars to Record High, SUI Price Up 30% Cardano Welcomes Gold Tokenization: EMURGO Partners with Kinka Gold to Launch XNK Expert Predicts When XRP Will Break $1, Says XRP Wants to Move Soon Hut 8 deepens Bitmain partnership with launch of new ASIC miner in 2025 Legendary Trader John Bollinger Breaks Silence on Fed Rate Cut Metaplanet’s Bitcoin Bet Pays Off: Stock Soars 443% Despite BTC Dip Daily Market Review: BTC, ETH, POPCAT, SEI, TIA Puma partners with Web3 mobile game in ‘pivotal moment’ for mainstream adoption Dormant Bitcoin Whale Stuns Binance With Massive BTC Sale BREAKING! TCMB Announced September Interest Rate Decision! XRP Gears Up for a 30% Jump Amidst Whale Buying Spree Bridging TradFi and DeFi: The opportunities of complaint stablecoins | Opinion DePIN Blockchain peaq Integrates With LayerZero Protocol: Details Why The Federal Reserve Made A Huge Interest Rate Cut? Fresh Buy Signal Puts Shiba Inu (SHIB) in Prime Position for 40% Rally Blockchain adoption in Asia Pacific will expand into SMEs — Blockdaemon Cardano adds over 70,000 smart contracts in 2024 Dogecoin Price Breakout From 5-Month Downtrend Likely to Fail WazirX hacker moves latest batch of $12 million in ether to launder via Tornado Cash JUST IN! Binance Accelerates Altcoin Listings! Another New Altcoin Listed, Price Skyrocketed! Top Crypto ETF Holder Blackrock Issues Cruical Market Announcement Blockchain News: the Cardano Foundation joins Intersect Shiba Inu (SHIB) Biggest Beneficiary of Rate Cut, Here's Why Crypto price roundup: BTC, SUI, AVAX, ADA, ICP, DOGE Raoul Pal Says Buy More Bitcoin: “It’s Simply Going Up” Amid Fed Rate Cuts What to Expect from PEPE Price as the Meme Coin Eyes ‘Uptober’ Kickoff Bitcoin on the Cusp of Breakout Into Parabolic Phase, Says Crypto Analyst – Here’s the Timeline Solana-Based Drift Raises $25M Toward Goal of Becoming 'Robinhood of Crypto:' Report Maximizing Bitcoin per Share: A New Corporate Strategy SEC vs. Coinbase: Why the SEC Postponed the Coinbase Case—And Why It Matters CertiK Ventures discloses $45M investment plan to boost Web3 Germany's DZ Bank to Offer Customers Crypto Trading Through Boerse Stuttgart Tie Up Report Paints Bitcoin Path to $1M as BTC Reclaims $62K Post Rate Cut Talent flocks to AI but ‘frothy’ market turns off VCs: Dragonfly Capital XRP Price Could Hit $5 If Ripple Captures 50% of Global Remittance Market Binance executive: US election will not have much impact on global crypto regulations SEI, FTM, ZETA, TIA Prices Soar: What’s Driving the Rally? Ethereum ICO Address Deposits 10,000 ETH After 2 Years of Dormancy $BANANA Crashes Amid Wallet Draining Incident and Value Drop Crypto Exchange Volumes Reach Highest Levels Since May, Top Performer Gains Over 560% Can Bitcoin hit $70k in ‘Uptober’? Sui Network TVL soars to record high, SUI price up 30% Is Dogecoin Dead? Recent Surge Hints at a Major DOGE Price Rally Ahead! Crypto.com receives crypto license in Bahrain Cardano founder to meet Argentina president Javier Milei These Alts Gained The Most After Fed’s Rate Cut as BTC Tapped 23-Day Peak (Market Watch) Bitcoin’s September Surge Hints at a Strong Finish to 2024, $68K Next? Ether Rebounds Off Key Support Signals Long Term Bullishness Terra Classic price prediction as LUNC set for crucial bankruptcy hearing Commerzbank to Offer Bitcoin, Ether Trading Through Crypto Finance Is Ether a Security? Congressman Explains Why It's Not the Case Analyst Expects Green Mega Pump to Push XRP by 9,468% to $27 Goldman Sachs-backed blockchain infrastructure provider Blockdaemon eyes 2026 IPO: report The Bitcoin SoftWar begins as Lowery highlights veteran's PoW security solution making hacks unprofitable Coinbase Recognizes XRP and Shiba Inu as Money and Store of Value Assets Solana (SOL) About to Withstand Biggest Test Since 2023 Foresight Ventures announces multimillion-dollar investment in Aptos to accelerate ecosystem growth Solana Reveals Major Update For Developers, SOL To Hit $300? Decentraland X Account Hacked in MANA Airdrop Phishing Scam Bitcoin Records Major Bullish Signal, But There’s a Catch Aethir and Xai Games Unveil $10M Ecosystem Grant for AI-Powered Gaming Ripple Moves 100,000,000 XRP, Sends 19,700,000 to Bitso Popcat Price Surges 22% In Market Recovery, Is A Correction Imminent? Binance Co-Founder Responds to Backlash and Criticism on Altcoin Listings Upbit Announces Surprise Memecoin Listing, Price Jumps! Cryptocurrency Prices Today Sept 19: BTC Breaks Above $62K, Altcoins Pump After FOMC Dogecoin Founder Trolls Bitcoin (BTC) Bulls After Big Fed Rate Cut Market Veteran Brandt Flags Bearish Solana Pattern with Potential $80 Target Bitcoin Primed To Hit New All-Time High in October if This Happens, According to Analyst Michaël van de Poppe Flappy Bird Foundation Flaps Back at Critics, Says They Are True Successors of the 2013 Hit SUI could soon be Solana’s fiercest competitor — K33 Research OKX Singapore's New CEO Says Custodian Arrangements Were ‘Most Important, Most Difficult’ Part of MPI License Binance CEO says task force is working ‘across the clock’ to free exec in Nigeria Fed rate cut may be politically motivated, will increase inflation — Arthur Hayes Family Offices Investors Summit: The $100M Club Bets on Liquid Token, AI, and Gaming in Pivot to Alternative Investments Hong Kong may approve Ethereum staking for local spot ETFs this year, says Blockdaemon executive Bitcoin Broke $62K After Fed Rate Cuts. Here’s What Traders Say Will Happen Next Stablecoins Are Becoming Systemically Important, Bernstein Says ? Bitcoin price hits $62.6K as Fed ‘crisis’ move sparks US stocks warning Solana Price Prediction: $160 Next as Massive Institutional Support Emerges BlackRock’s Bitcoin ETF Struggles in September With Just $7 Million in Inflows Bitcoin Price Targets $64,000 as Market Sentiment Improves Bitcoin Slows as Demand and Supply Freeze Here’s How Much Holding Only 5M, 10M, or 30M Shiba Inu Would be Worth If SHIB Hits $1 as Predicted by Top Exchange Solana ETF Approval Odds Plunge to Just 3% Is Cardano Price Ready to Reclaim $0.5 as Whale Activity Soars? Bitcoin’s Q3 2024 Resilience Highlights Altcoin Volatility Buterin: Insurance DAOs Offer ‘Less Imbalance of Incentives’ Celestia Price Soars 15% After Lemongrass Update: Will TIA Hit $10 Soon? Here’s XRP Price if Total Crypto Market Cap Hits $12 Trillion Terra Luna Classic Price Eyes 50% Surge Ahead of Bankruptcy Hearing Today Ethena Labs Halts Website After Domain Account Hack JASMY Preps for 1,403% Pump as SHIB Anticipates a 470% Pump Amid BTC and DOGE’s Bullish Reaction to Fed Rate Cut XRP Price Nears $0.60: Is A Major Pump Imminent? Bitwise CIO Calls Ethereum The ‘Microsoft Of Blockchains’, Can ETH Make A Comeback? From memecoins to utility tokens: The expanding crypto ecosystem of Solana Solana Saga crypto phone successor emerges from stealth as 'Seeker,' surpassing 140,000 presales Bitget Becomes Sponsor of Football League Featuring Lewandowski, Mbappé, and Vinícius Jr Anthony Scaramucci says group of crypto advocates working to move Harris away from Gensler Ethereum Trails Bitcoin, But Bullish Momentum Gains Strength IBIT, FBTC, ARKB, BITB: time to buy or sell Bitcoin ETFs? MicroStrategy moves 4,922.697 Bitcoin to three unmarked new addresses: Arkham 50 bps Fed Rate Cut Results in Bitcoin Price Pump as BTC Surges to $62,000 Price Level, Bullish Scenario Play in Order US Lawmakers Call for Clear SEC Rules on Digital Asset Airdrops Bitcoin offers diversity for traditional investors: BlackRock Dogecoin Price Prediction Heats Up as Transactions Reach 3-Month High Clearpool Introduces Oxygen: An Innovative RWA Liquidity Layer ATOM Price Struggles Near $4: Can It Gain Upward Momentum? Bitcoin Price Surges After Fed Rate Cut: New Rally Ahead? Singapore TOKEN2049 turns into a Vitalik Buterin concert Ethereum Holders Show Mixed Signals: Are The Big Players Losing Interest? ‘Silly’ to shade Ethereum, the ‘Microsoft of blockchains’ — Bitwise exec Breakout And Retest In IMX Price, Volume Up By 300% How Bitcoin mining is a viable investment: opportunities and limitations for new miners NEIRO Meme Coin Minting Millionaires, Whales Accumulating: Is This The Start Of The Bull Run? SEC charges Rari Capital founders for misleading investors Louisiana takes first crypto payment over Bitcoin Lightning Solana (SOL) Could Crash 40% If It Stays Below $140 – Top Analyst Shares Insights 'Parallel' Ethereum Game Studio Reveals Shooter on Base Network B3 Liquidation Looms: $179M Set to Be Cleared If Bitcoin Climbs to $61,498 XRP on Verge of Explosion, Did Shiba Inu (SHIB) Reach Ground Zero? Solana (SOL) Death Cross Looms EGLD Price Prediction: Will MultiversX Price Push For $30 Mark CFX Price In Breakout Zone, Can It Rise 350% After Breakout? Best Cryptos Under 1 Cent with Low-Cost Investments and High Growth Potential. Top Crypto Analyst Predicts Rallies for Solana Killer Sui, Says One Memecoin Primed To Move Violently Higher Ethereum In 2021 Vs. 2024: Fractal Suggests Major Breakout In Q4 K9 Finance Unveils Liquid Staking on Shibarium, Enhancing SHIB Burn Rates Bitcoin holds above $60k amid heavy volatility after FOMC confirms 50bp rate cut Intel Markets presale heats up with support from big-time SOL, TON holders Bitcoin Standard Author Challenges Michael Saylor: Should Banks Offer Yield On Your BTC?