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Ex-Coinbase employee’s blockchain startup raises $4.5 million

Blockchain data startup Coherent, founded by ex-Coinbase employee Carl Cortright, has raised $4.5 million in a seed funding round. The Block writes about it.

Funding was provided by Kindred Ventures, Matchstick Ventures and Foundry Group. Other contributors include Coinbase Ventures, Alchemy, Chapter One, and Dan Romero, one of the early employees of the American bitcoin exchange.

Courtright founded Coherent in April 2022 after four years at Coinbase. In the company, he served as a senior software engineer and was a member of the venture division.

According to him, Coherent is working on API, which will allow developers to create applications and offer new features using their data. According to Cortright, the firm focuses on three types of information:

  • history of transactions in the network;
  • NFT data;
  • credentials.

The head of the startup noted that the platform will attract the next billion users to the cryptocurrency industry. The five-person team plans to launch the tool in September.

Recall that from April to June, venture investments in crypto-startups decreased by 31% compared to the first quarter, to $6.76 billion.

Analysts cited the collapse of Terra, the serious problems of Celsius and Babel Finance, as well as staff cuts at Coinbase, Gemini and Crypto.com as reasons.

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About author

Oxford graduate with honors. He worked in large financial projects for well-known Wall Street corporations. After he earned his first capital and a reputation as a successful trader, he opened his own company. At the moment, the growth of the company's capital is 20% per year.
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