On Friday, the strategic round of $15 million completed by Solidus Labs, was led by Liberty City Ventures, with Exor Seeds and GSR also taking part in the financing.
Other investors also include former SEC commissioner Troy Paredes and former CFTC Chair Christopher Giancarlo. The round follows after the $20 million Series A that the firm completed in May.
According to Reuters, the company has since July, hired former CFPB Director Kathy Kraninger as it’s VP of Regulatory affairs
In his remarks about the strategic round, CEO of Solidus Asaf Meir said that the funds will position the firm to serve more clients, even faster. He also believes the availability of funds will help the firm to address the numerous new use-cases in the DeFi and NFT risk frontiers. He then further added that the firm will only be able to achieve this, because of its unique ability combination of traditional trading expertise, and its knowledge of crypto.
Liberty City Ventures Partner’s Emil Woods also had a lot to say regarding the fact that, Solidus already had foresight in developing the necessary tools for easy market surveillance and risk monitoring — an attribute that most traditional financial firms and regulators are now looking to leverage as they attempt to increase their participation in crypto asset markets.
Solidus announced its very first initial $3 million raise back in 2019. Giancarlo also warned in June this year, expressing that he believes the U.S. is on the verge of becoming a backwater country if it so happens that the U.S doesn’t find a way to issue central bank digital currency.
