Near Protocol Raised $350M in a Tiger Global Funding Round

Near Protocol, a blockchain company, has raised $350 million. The initiative was led by Tiger Global Management – an American investment firm with over $90 billion in assets under management.

Cited by Bloomberg, Amos Zhang – a Partner at MetaWeb VC (a company focused on investments that are part of the cryptocurrency industry) – said the fundraiser led by a giant such as Tiger Global “obviously means that Near might be one of the protocols that can take over the world.”

Near Protocol has secured $350 million in funding, more than twice the amount it received at the start of 2022. It received $150 million from prominent investors back then, including Alameda Research, Three Arrows Capital, and Andreessen Horowitz.

As of today, Near Protocol’s market capitalization stands at over $10 billion, placing it among the top 20 cryptocurrency projects.

The price of the native token of the Protocol – NEAR – has also gone through an impressive increase in the last several months.

Its USD value stood at around $6 in April last year, while currently, it trades more than 150% higher – at approximately $16.

The Russian-Ukraine war was also influenced by the blockchain protocol. Near’s Ukrainian Co-Founder – Illia Polosukhin – helped move at least 50 people out of the nation due to the conflict and raised over $3 million to pay for food, medicine, and evacuation efforts.

The executive was among millions of Ukrainians who have fled their homeland in recent weeks. Polosukhin is currently in Portugal. Portugal turned out to be a favorite destination for refugees due to its crypto-friendly policies.

 

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