This round of financing is jointly led by CoinFund and Brevan Howard's Nova Fund and is expected to be completed by the end of January.
Cryptocurrency project raises funds after TGE, a common practice to introduce long-term institutional support.
In the case of Movement, the new financing will not affect the community's interests, including airdrop distribution.
The chips purchased by new institutions typically come from the team or foundation, not the community.
CoinFund, a leading Web3 investment institution, has a strong portfolio including Polygon, Near, L0, Flow, Worldcoin, and Ondo.
Nova Fund, under Brevan, is part of one of the world's top hedge funds, managing tens of billions of dollars in assets.
The Series B financing aims to introduce Web3 resource-based institutions and prepare for entry into the traditional financial market.
For users, the news is positive and aligns with the goal of obtaining Movement Phase II airdrops.
To increase chances, users can participate in the 0 Galaxy Mission and contribute to the Kaito-MOVE list by generating original content and interacting with officials.
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