Bitfury Group, a blockchain technology company, has closed an $80 million private placement with global institutional and corporate investors.
The private placement was led by Korelya Capital, the European growth capital firm backed by Korean firm, Naver Group. The placement was joined by investors such as Macquarie Capital, Asian financial institution Dentsu Inc, European investment company Armat Group, European fund managers Jabre, Lian Group, special situations investment firm Argenthal Capital Partners, insurance group MACSF and Galaxy Digital, a specialised digital asset merchant bank led by Mike Novogratz. iTech Capital, an Eastern European tech specific private equity firm and historical investor in Bitfury, also took part in the placement.
Ten financial services and technology firms leading developments in the digital asset and blockchain space have joined together to create the Association for Digital Asset Markets (ADAM) to establish a Code of Conduct for emerging digital asset markets.
US-based ADAM will proactively seek comprehensive standards for digital asset market participants. The group, which includes BitOoda, BTIG, Cumberland, Galaxy Digital, Genesis Global Trading, GSR, Hudson River Trading, Paxos, Symbiont and XBTO, says it will work with current and former regulators to provide rules for the efficient trading, custody, clearing and settlement of digital assets.
Future guidelines will encourage professionalism and ethical conduct by all market participants, increase transparency by providing information to regulators and the public, and deter market manipulation, the group stated.