River, which offers Bitcoin Lightning service, has announced a $35 million Series B funding round despite the bear market.
Paypal co-founder Peter Thiel, Cygni, Goldcrest and Valor Equity Partners also contributed significantly to the tour led by Kingsway Capital. According to River CEO Alex Leishman, the new wave of interest in Bitcoin is largely driven by commercial and institutional adoption.
Leishman: Other Exchanges May Turn to Lightning Network
Leishman, who also made other comments on the subject, said: “The bank failures and bailouts this year have been a call that exposed the cracks of the traditional financial system and reminded us why Bitcoin is so important. “Bitcoin is a safe path to a stronger and more transparent global economy.”
The San Francisco-based company manages one of the largest Bitcoin lightning nodes, which enables Bitcoin Lightning Network payments and manages liquidity. River was one of the early adopters of the Lightning Network, similar to global crypto exchanges like Bitfinex and Kraken.
Continuing his comments on the subject, River CEO Lesihman said that they have built a great foundation in terms of protocol and continued: “In light of the increase in main chain transaction fees due to the memecoin craze, more and more exchanges and crypto companies are using the Lightning Network as a solution. may turn to.”
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