Ethereum

2024

Galaxy

Bain Capital Crypto has led a robust $100 million Series A investment in M^0, a new player on the Ethereum blockchain specializing in stablecoin minting. The investment round, drawing additional funds from entities like Galaxy Ventures and GSR, underscores a growing interest in secure cryptocurrency solutions. 
With a mainnet launch slated in the next few weeks, M^0 is poised to introduce its stablecoin, M, guaranteed by U.S. Treasuries and backed by a rigorous governance framework. This funding round brings M^0’s total capital to $57.5 million, reflecting strong market confidence following a $22.5 million seed funding last year. 
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 1/📢 We are thrilled to announce the <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Ethereum</a> Mainnet launch of M^0 as well as the closing of a $35M Series A round led by <a href="https://twitter.com/BainCapCrypto?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@BainCapCrypto</a>, with support from new investors <a href="https://twitter.com/galaxyhq?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@galaxyhq</a>, <a href="https://twitter.com/wintermute_t?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@wintermute_t</a>, <a href="https://twitter.com/GSR_io?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@GSR_io</a>, <a href="https://twitter.com/caladanxyz?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@caladanxyz</a> and <a href="https://twitter.com/SCB10X_OFFICIAL?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@SCB10X_OFFICIAL</a>. <a href="https://t.co/pJ6c0YtnkG" target="_blank">pic.twitter.com/pJ6c0YtnkG</a>— M^0 (@m0foundation) <a href="https://twitter.com/m0foundation/status/1798346970840596666?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 5, 2024</a>
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One of M^0 early investors, Pantera Capital also announced their continued investment in the series A, citing stablecoins are ‘ALREADY’ augmenting traditional financial services by enabling cheaper, instant-settlement, global payments. 
Strategic Growth and Governance 
M^0 labs co-founder, Greg Di Prisco said, ” It’s been a long road, but we’re really just getting started. Stablecoins (or Cryptodollars, whatever you want to call them) will be the primary future driver of global dollarization. M^0 is the tech stack that cuts no corners to make this happen.” 
M^0’s approach involves a unique mix of equity and token issuance, reflecting a move to blend traditional equity benefits with the expansive potential of token economies. Unlike in other stablecoin systems, Minters of M keeps a competitive share of the return on the collateral assets they bring to the network. 
Governance tokens such as POWER and ZERO will play a pivotal role, with specific lock-in periods to ensure compliance and stability. 
The protocol promises validation mechanisms and operational transparency, setting a high standard for potential collaborators and minters who wish to issue the M stablecoin. As M^0 prepares for its market debut, the industry watches closely, anticipating the impact of this innovative financial model on the broader cryptocurrency landscape. 
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Bain Capital Crypto Spearheads $35M Series A in M^0 Protocol

The Crypto Times

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