Web3 infrastructure provider Omega, based in Miami, has secured $6 million in funding from a range of investors including Lightspeed Faction, Borderless Capital and Blockchain.com. Led by CEO Wes Cowan and COO Eric Ryklin, Omega plans to launch the first decentralized infrastructure that enables Bitcoin holders to use the value of their Layer 1 Bitcoin for yield generation in DeFi. The company expects to launch its public beta within the next 60 days and sees the funding as a testament to its vision of reshaping the DeFi landscape. "Our focus now turns to delivering our public beta, which we believe will empower Bitcoin holders and significantly contribute to the evolution of Bitcoin DeFi," said Ryklin.
Welcome Back
Click “Sign in” to agree to Cointime’s Terms of Service and acknowledge that Cointime’s Privacy Policy applies to you.
Join CoinTime
Already have an account?
Click “page.Sign up” to agree to Cointime’s <a class="underline" href="#term-of-service">Terms of Service</a> and acknowledge that Cointime’s a class="underline" href="#privacy-policy">Privacy Policy</a> applies to you.
Sign in with email
Sign up with email
Your email
Check your inbox
Click the link we sent to to sign in.
Click the link we sent to to sign up.
Omega raises $6M to launch decentralized infrastructure for Bitcoin yield generation in DeFi
-
Wechat scan to share
Recommended for you
-
Coinbase Exits Turkey Plans, Adjusts USDC Rewards Amid MiCA Compliance
Turkey’s crypto regulator reports 14 companies, including QNB Digital Assets, have filed for liquidation. Coinbase will end USDC rewards for EEA users starting December 1.
-
Ethereum ETF staking yield likely to be approved under crypto-friendly 'Trump 2.0' SEC, Bernstein says
Analysts at Bernstein said that despite ether’s underperformance this year, its fundamentals look strong, and the risk-reward ratio is now attractive.
-
From exchange to an ecosystem: Cryptocurrency platform turns a new page
Going through a rebranding process, a crypto platform shifts from a basic exchange to a full-fledged ecosystem.
-
Japan’s DMM Bitcoin Exchange Plans to Shut Down
The exchange intends to transfer customer deposits and assets to SBI VC Trade. The decision follows the exchange’s struggle to recover from a $320 million theft.
-
Hong Kong gaming firm swaps $49M Ether in treasury for Bitcoin
With the latest acquisition, Boyaa Interactive has 3,183 Bitcoin in its stash, up from 2,635 at the end of September.
-
The Role of Cryptocurrency in Reducing Banking Costs for Small and Medium Businesses
With cryptocurrencies, SMBs can really avoid many headaches related to traditional banking
-
NFTs Resurgence? Crypto's Bull Run is Driving These Assets Higher
Despite new collections, CryptoPunk NFTs hold a 40% market share, showing its enduring appeal among collectors.
-
Bitcoin Miner Argo Blockchain Secures £4.2M Lifeline as Mining Margins Shrink
The Wall Street BTC miner raised £4.2M through a share placement to fund strategic initiatives and working capital needs. The company plans to use the proceeds to expand into high-performance computing amid challenging market conditions.
-
Bitcoin ETFs hit $6.4B inflows in November amid record BTC rally
US-based spot Bitcoin ETFs saw $6.46 billion inflows in November, led by BlackRock, as BTC recorded a 45% price rally.
-
XRP becomes world's third-largest crypto, overtakes Tether’s USDT in market cap
XRP, which is largely associated with Ripple Labs, has a market cap of $141.8 billion, surpassing USDT’s $134.5 billion.
Daily Must-Read
-
Uniswap Labs, UNI holders could make $468M a year from new L2: DeFi Report
-
Avalanche Foundation to buy back nearly 2M AVAX sold to Terra in 2022
-
Gold Fever Hits Costco: 77% of Stores Sell Out Amid Soaring Demand for Bullion
-
$500M Bitcoin Buried in Landfill: Man Sues City After Decade-Long Battle for Recovery
-
Former BAYC creative director Jeff Nicholas joins Meta’s Reality Labs
-
Why is Solana's Dogwifhat (WIF) memecoin crashing?
All Comments