On May 1st, investment firm Cryptool invested $2 million in cryptocurrency trading platform Bittime in Series A funding. Founded in 2017, Cryptool focuses on first and second-level investments in digital currency, with a total investment of $30 million by 2023.

Founder of Cryptool, Hao, stated that in addition to being optimistic about the founder team of Bittime, they will also assist in pushing for VASP custody, compliance and risk control for the exchange, accelerating Bittime's compliance landing globally, and providing assistance for a series of compliance operations such as the application for Hong Kong ETF.