Bitcoin Lightning company River raises $35M amid ‘new wave of institutional adoption’

📆 5/16/2023 10:57 AM
📰 Cointelegraph

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BTC Ordinals aren't looking! It's time for Bitcoin Lightning companies to take charge. River Financial announces a $35 million raise.

According to Alex Leishman, the CEO of River, the new wave of Bitcoin interest is “largely driven by business and institutional adoption.” He added:

"It’s not fueled by hype. This year’s bank failures and bailouts have been a wake-up call, revealing the cracks of the traditional financial system and reminding us why Bitcoin is so important–it’s a secure path to a stronger and more transparent global economy."

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River announced a $35 million Series B equity funding round despite the bear market. Kingsway Capital led the round, with notable contributions including Paypal co-founder Peter Thiel, Cygni, Goldcrest and Valor Equity Partners.

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