AscendEX Announces $ 50 Million Raise In Series B Led By Polychain Capital And Hack VC

Additional Series B investors include Alameda Research, Jump Capital, Uncorrelate Ventures, Eterna Capital, Acheron Trading, Palm Drive Capital and Nothing Research

Singapore – November 3, 2021 – AscendEX, a global cryptocurrency financial platform, has announced the closing of a $ 50 million Series B raise led by Polychain Capital Y Hack VC, with participation from Salta Capital Y Investigation. Alameda, as well as Unrelated Companies, Eternal Capital, Acheron Commerce, No Investigation, and Palm Drive Capital. Socios de Empires served as exclusive financial advisor to AscendEX in support of the Series B fundraising process.

AscendEX, launched under the name “BitMax” in July 2018, offers trading, custody and participation services to more than one million retail and institutional clients worldwide. platform has positioned itself as an infrastructure partner for blockchain companies, particularly in the decentralized finance (“DeFi”) sector, and operates as a validator and performance production portal for more than 60 token projects.

“We are grateful to have very important investors involved in our latest round of fundraising,” said George Cao, CEO and co-founder of AscendEX. “Polychain Capital and Hack VC, as active catalysts of the DeFi ecosystem, have supported some of the industry’s most innovative blockchain networks, exchanges and commercial institutions. In addition, Alameda Research, founded by Sam Bankman-Fried, has become one of the most prolific investors in the industry, driving the growth of both CeFi and DeFi. involvement of Jump Capital, an experienced Crypto and Fintech investor, further demonstrates the success of our deep roots in traditional finance, as the AscendEX core team is proud of our extensive experience in Wall Street quantitative trading.

AscendEX is well positioned at the nexus between the centralized and decentralized financial sectors, as evidenced by its own Earn AscendEX cross-guaranteed equity products and products that allow users to generate returns while operating with leverage. By enabling retail and institutional users to maximize their trading and profit potential, AscendEX has achieved more than $ 200 million in average daily trade volume and provides competitive returns among competing centralized exchanges.

“AscendEX plans to use Series B funds to accelerate international market entry and catalyze further product innovation, specifically focused on blockchain-based performance generation protocols.” says Shane Molidor, Global Director of Business Development for AscendEX. “Building a bridge to the DeFi ecosystem has enabled AscendEX to differentiate itself from other cryptocurrency exchanges and has made the platform a popular destination for innovative DeFi projects to make initial exchange offerings (» IEO «). We are excited to partner with our new investors to further consolidate our unique competitive advantages. ”

Sam Trabucco, Co-CEO of Alameda Research, added: “Alameda has had nothing but great experiences working with AscendEX as a customer and market maker, and we are delighted to continue expanding our relationship in new ways with this investment.”

“AscendEX is a leader in the transition of crypto projects from primary to secondary markets, as evidenced by the continued success of the tokens listed on the exchange,” said Olaf Carlson-Wee, Founder and CEO of Polychain Capital. “We look forward to deepening our partnership with AscendEX by providing insight into changing industry trends and providing guidance on high-level projects to include in the exchange.”

AscendEX exclusively provides dedicated ancillary support for blockchain projects seeking to appear on the platform, including consulting on economic token design, secondary market liquidity strategies, participation support, liquidity extraction, as well as global marketing and translation services. se support services further differentiate the AscendEX IEO process from other traditional exchanges and, in turn, enable listings to achieve industry-leading results.

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“In an extremely competitive cryptocurrency trading landscape, AscendEX has impressively emerged as the premier location for innovative crypto projects in DeFi, GameFi, and crypto infrastructures.” said Saurabh Sharma, partner at Jump Capital. “AscendEX remains at the forefront by constantly innovating and offering unmet needs such as broad access to betting and DeFi performance farming for retail investors.”

Alex Pack of Hack VC added: “ concept of extracting more value from the cryptocurrency stored in your wallet has become immensely popular with the decentralized yield and loan generation protocol: AscendEX has further expanded this aspect by cross-guaranteeing its wallets with validation nodes, allowing users to trade while earning. No other exchange offers this degree of flexibility to users to earn and participate in blockchain governance while trading on leverage at the same time.

For more information on AscendEX, visit


About AscendEX

AscendEX is a global cryptocurrency financial platform serving over a million institutional and retail traders with the resources to get more value from their cryptocurrency investments. Operating at the nexus of centralized finance and decentralized finance, AscendEX’s platform offers access to futures and spot trading, a robust portfolio infrastructure, and engagement support for more than 200 industry-leading blockchain projects, all producing returns. and industry-leading returns, further driving the growth of the crypto ecosystem. In an effort to cultivate scalable and secure forms of decentralized financing, AscendEX has become a leading ROI platform in its “early trade offerings” by supporting some of the industry’s most innovative projects in the DeFi ecosystem. To learn more about how AscendEX leverages best practices from Wall Street and the cryptocurrency ecosystem to extract the most value per dollar for its users, visit

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About Polychain Capital

emergence of bitcoin and subsequent blockchain technologies has spawned a new class of digital assets where scarcity is based on mathematical sifates. Through cryptographic verification and game theory balancing, it is possible to create, issue and transmit blockchain-based digital assets using the software. Polychain is an investment firm committed to delivering exceptional returns for investors through actively managed portfolios of these blockchain assets.

About Hack VC

Hack VC is a private equity firm based in Incline Village, Nevada.

About Alameda Research

Alameda Research was founded in October 2017. We manage over $ 1 billion in digital assets and trade between $ 1 billion and $ 10 billion per day in thousands of products, all major currencies and altcoins, as well as their derivatives. We have a large-scale global operation with the ability to operate in all major exchanges and markets.

About Jump Capital

Jump Capital is a leading venture fund investing in Crypto and Fintech globally.

Uncorrelato Ventures was founded by Salil Deshpande with the support of Bain to focus on open source software and infrastructure, both traditional and decentralized. In 14 years as general partner and CEO of Bay Partners and Bain Capital, Salil soon invested $ 350 million in more than 50 companies. Additionally, Salil was on the Forbes Midas list of the 100 best performing venture investors worldwide in 2013-2019 and on Business Insider’s inaugural Seed-100 list of the 100 best performing seed investors in 2021.

About Eterna Capital

Eterna Capital is a UK-based venture capital fund that focuses on supporting bold and innovative teams harnessing the power of the blockchain. Launched in March 2018, Eterna has invested in numerous high-profile deals and is committed to helping entrepreneurs achieve their ambitious goals by providing them with unique knowledge and support.

About Acheron Trading

Acheron Trading is a designated market maker that creates liquid markets for digital assets. We operate on centralized and decentralized exchanges around the world with more than $ 250 million in assets under management.

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About nothing Research

Nothing Research is a multi-strategy venture capital firm that invests in open finance initiatives. It was founded in March 2021 by a group of digital asset market veterans with professional backgrounds from leading research institutes, hedge funds, and digital asset trading platforms such as Huobi and AscendEx. It differs in its convenience of building alongside the founders and shaping the narratives alongside the projects invested.

About Palm Drive Capital

Palm Drive Capital is a New York and Miami-based venture capital and growth capital fund that has invested in more than 100 leading Internet and software companies around the world.

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