According to Foresight News, The Block reported that Wasabi, a Meme coin and NFT leveraged trading protocol, has completed a $3 million financing round, led by Electric Capital, with participation from Alliance, Memeland, Spencer Ventures, Pudgy Penguins CEO Luca Netz, Magic Eden co-founder Zhouxun Yin, angel investor Santiago Santos, and Crypto Twitter celebrities Cygaar, Zagabond, DCF God, and Bob Loukas. The new funds will be used to expand the team, and Wasabi plans to expand its current team of 6 to 10 in the near future.

Users can go long, short, and stake Meme coins and NFTs on Wasabi, with leverage ranging from 2-3x for less liquid assets to 10x for assets like ETH and USDB.