Burnt (XION) Successfully Raises $25 Million in Series A Round

Blockchain layer-1 project Burnt (XION) has announced a successful $25 million Series A funding round from seasoned investors such as Multicoin and The Spartan Group.

Azcnews Breaking

In the context of the booming cryptocurrency market, investors once again demonstrate strong confidence in the potential of this industry. Recently, XION, an innovative startup in the web3 infrastructure sector, has surpassed many industry giants to secure $25 million in its latest funding round.

XION’s successful fundraising round has attracted participation from renowned names such as Animoca Brands, Laser Digital, Multicoin, Arrington Capital, Draper Dragon, Sfermion, GoldenTree, and various other organizations. This solidifies XION’s position and immense potential in this emerging technology market.

Related: a16z Injects $30 Million into Gaming-Related Startups

Introduction to Burnt (XION)

Interface Xion
Interface Xion

XION is built on the Comet BFT consensus framework and Inter-Blockchain Communication (IBC) protocol, considered the most reliable and secure in the industry, along with the Cosmos SDK development toolkit. This battle-tested infrastructure has safeguarded over $50 billion in assets, facilitated millions of transactions, and earned the trust of major industry projects like Binance Chain (BNB), Crypto.com (CRO), Injective (INJ), and DyDx (DYDX).

Embracing the concept of “generalized abstraction,” XION promises to simplify and make cryptocurrency operations more user-friendly than ever before. With XION, interacting with the blockchain will be as easy as using a smartphone, without the hassle of seed phrases or private keys.

Notably, XION will be the first blockchain to integrate the USDC stablecoin as its official currency unit for its protocol. This move not only demonstrates forward-thinking vision but also reaffirms the determination to elevate blockchain to new heights of user-friendliness and flexibility.

Previously, in December 2023, XION successfully launched its testnet after a successful $11 million fundraising round from leading investors such as Circle Ventures, Animoca Brands, Multicoin, HashKey, and Valor. This initial boost helped XION adequately prepare before entering the phase of global-scale development.

With the new investment influx, XION is poised to break through and turn the dream of building an advanced, user-friendly web3 ecosystem into reality. They are opening up a new horizon for the cryptocurrency market where blockchain technology will no longer be unfamiliar but will become more accessible and user-friendly than ever before to the masses.


(2 votes)
  1. Avatar of Santosh devi sharma
    Santosh devi sharma

    Great future

Leave a Reply

Your email address will not be published. Required fields are marked *


What Is Cosmos Atom Information About Atom Token

Altcoin | Editor Choice | News | Research

What is Cosmos ATOM? Information about ATOM Token

What is Cosmos (ATOM)? Learn about the operating mechanism and outstanding features of Cosmos along with detailed information about the tokenomics of ATOM Token!

Important Update About Dogs Airdrop On Telegram

Airdrops | Editor Choice | News

Important Update about Dogs Airdrop on Telegram

DOGS on Telegram has announced important updates about their DOGS token distribution plan and the addition of a new "check-in" feature.

Azcnews Binance Delists Multiple Trading Pairs On Platform

News | Editor Choice | Policy & Regulations

Binance Delists Multiple Trading Pairs on Platform

Binance will delist specific spot trading pairs on July 26, 2024. The AVAX/TUSD, MATIC/TUSD, and VOXEL/BTC pairs will no longer be available for trading.

Altlayer Moves Up Alt Token Unlock Schedule, Mimicking Worldcoin

News | Altcoin | Editor Choice

AltLayer Moves Up ALT Token Unlock Schedule, Mimicking Worldcoin

The AltLayer (ALT) restaking solution has announced that they will move up the token unlock schedule to the present time.

Azcnews Large Inflows Into Ether Etfs On First Day Of Trading

News | Altcoin | Editor Choice

Large Inflows into Ether ETFs on First Day of Trading

Bloomberg ETF analyst Eric Balchunas described the $625 million trading volume, excluding Grayscale's ETHE, as "healthy" and anticipated that a "significant portion" of this amount would translate into inflows.