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.



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