Jump-Incubated Crypto Project Wormhole Raises $225 Million

Wormhole, a crypto project recently spun off by Jump Trading Group, said it raised $225 million from a group of investors at a $2.5 billion valuation, making it one of the largest funding rounds in the digital assets industry this year.

Wormhole, which provides a so-called bridge between blockchains, was part of Jump Crypto, the digital-asset unit of the Chicago-based high frequency trading firm. The project links different blockchains like Solana and Ethereum to make transactions easier across networks. Investors in the current round included Jump, Brevan Howard, Coinbase Ventures, Multicoin Capital, Arrington Capital, according to a statement Wednesday.

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