Last night, news about Movement nearing completion of $100 million financing exploded in the crypto circle. According to reports, Movement Labs will complete a $100 million Series B financing, with a valuation of approximately $3 billion.
This round of financing is co-led by CoinFund and Brevan Howard's Nova Fund, expected to be completed by the end of January. Investors will receive a combination of equity and $MOVE tokens, with tokens being the main component.
After the news broke, many group members discussed: Is it OTC selling coins at a discount? Will it affect the airdrop share? Based on my understanding, let me clarify for everyone:
① Financing after TGE is a common practice for crypto projects, aimed at bringing in more institutions that will accompany the project long-term. On the surface, new institutions may get a lower valuation, but their tokens are locked long-term and won't disrupt the original token release rules.
② The chips bought by new institutions usually come from the team or foundation, and not from established community shares, so Movement's actions will not touch community interests and will not affect airdrop distribution.
In summary, Movement's choice to continue financing after TGE is likely to bring in more outstanding resource partners for the Move ecosystem, aiming to work together in the future rather than being opportunistic.
Currently, the disclosed lead investors for the Series B financing are CoinFund and Brevan Howard's Nova Fund. As for how impressive these two institutions are, just look at their background and investment portfolio.
CoinFund: Established in 2015, has invested in over 100 companies, including Polygon, Near, L0, Flow, Worldcoin, Ondo, etc., providing not only funding but also strategic guidance and industry resources to help them achieve long-term development.
Nova Fund: Part of the digital asset department of hedge fund Brevan Howard, which is one of the world's top hedge funds, managing hundreds of billions of dollars in assets, covering sovereign wealth funds, corporations, public pension funds, endowment funds, etc.
In summary, Movement's upcoming Series B financing is part of a larger strategy: on one hand, gaining support from resource-oriented institutions like CoinFund to jointly expand the ecosystem, and on the other hand, seeking support from Old Money to prepare for future entry into traditional financial markets.
For us, all of the above is positive news. So, continue to prepare for Movement's second-phase airdrop and wait for the rewards.
① Zero-cost Galaxy tasks.
Although the $MOVE phase one airdrop did not cover Galaxy points, this is proof of community users' persistence in signing in + participating in various activities. The official has long stated that it will be useful later; I blindly guess it will be linked to the phase two airdrop.
② Brush Kaito-MOVE leaderboard.
A few days ago, Movement officially joined Kaito + announced an airdrop for Kaito users, with rules to be announced in the coming weeks, interested parties should get started now.
Keep a few points in mind: produce more original Move content + interact more with the official account, founder @rushimanche, and the top-ranked teachers.
