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Crypto startups raise $126 million, but Magic Labs stands out with $52 million strategic round led by PayPal Ventures

Several crypto startups raised a total of $126 million this week, with Magic Labs receiving the largest investment of $52 million in a strategic round led by PayPal Ventures. Magic Labs provides wallet software development kits (SDKs) to clients, including Macy's and Mattel, who then customize their crypto wallets and offer them to customers via their apps.

The San Francisco-based firm has now raised over $80 million and has a valuation of just under $500 million. Other notable fundraises this week include Anoma Foundation raising $25 million, Transak raising $20 million, Tabi raising $10 million, Fusionist raising $6.6 million, and Demox Labs raising $4.5 million.

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