ruxus – Ex-Coinbase Employee’s Blockchain Startup Raised $4.5M

Blockchain data startup Coherent, founded by former Coinbase employee Carl Cortright, has raised $4.5 million in a seed round. He writes about it The block.

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

Cortright founded Coherent in April 2022 after four years at Coinbase. Within the company, he held the position of senior software engineer and was a member of the venture division.

According to him, Coherent is working on APIs, which will allow developers to build apps and deliver new features from their data. According to Cortright, the firm focuses on three types of information:

• network transaction history;
• NFT data;
• account data

The startup chief noted that the platform will attract the next billion users to the cryptocurrency industry. A team of five people plans to launch the tool in September.

As a reminder, from April to June, venture capital investments in crypto startups decreased by 31% compared to the first quarter, up to 6.76 billion dollars.

Analysts have named the reasons the collapse of Terraserious Celsius problems and Babel Financeas well as staff reductions in Coinbase, Gemini and Crypto.com.

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